质押市场的新趋势 EigenLayer的崛起与Lido的挑战

Twenty years ago, I naively thought that the free market was the best market form, and now my opinion has softened. This may be wisdom or simple age growth. I will not praise the free market because it has dominated the social and economic mainstream for many years, so now I will talk about its disadvantages. The free market has touched every corner and promoted global optimization. But now I am adjusting all over the world and moving towards high specialization. Understand that this optimization will make the local economy stagnate, over-invest and become a depressed place when the market wind changes. Prosperous economies are completely pursued by short-term global optimization. Examples abound of the rise and fall of mining towns. Venezuela suffered heavy losses when oil prices fell in the middle of the year because of over-investment in the oil industry. Even the automobile industry and rust belt manufacturing industry in Detroit, USA, failed to remain competitive in the global economy, leading to a serious recession in the local economy. A large number of people began to rely on global speculative fanaticism to earn income. Fortunately, the final result of this example is not bad. This fanaticism did not last long and did not cause structural changes to the local economy. But I think what is an appropriate free market is not important. I just interviewed the founder. The fact is that cryptocurrency is currently the freest market in history. The capital flow of cryptocurrency is simply the dream of market fundamentalists. This is the peak of financial market globalization. The free flow of capital flows like water. The yield of the smallest crack treasury bonds that provide the highest returns is not so low in the bear market trough. The yield on the chain is compressed below the yield on short-term treasury bonds. As a result, the market value of the currency has been slowly shrinking, and the collateral it supports has been used to earn offline income. Our industry has quietly turned itself into the largest provider in China. I still don't know how this is legally realized. My best guess is that there is no actual requirement for the generated income, but only controlled lending. And on the other hand, collateral is used to buy treasury bills. Coincidentally, the savings rate is very close to that of treasury bill rate. In fact, they decided to raise the rate of return as a promotional activity to last for about two weeks. A large part of it came from Sun Yuchen, the leader of the currency circle who never missed the opportunity of free funds. This promotional activity is undoubtedly successful, because even after the interest rate returns to normal level, funds will continue to flow in soon. Positioning itself as the place with the most abundant liquidity where stable coins are parked on the chain, the liquidity is sticky, and all this only costs 10,000 dollars for advertising. At the same time, the updated projects like Hehe are still striving for the increase of 1 million dollars, although the product structure is clearer. Later, we will further discuss their eroded market share. For some time in 2008, people have been discussing the dominant position in the mobile pledge of Ethereum and whether they should restrict themselves early for the purpose of decentralization. Most of the attempts to challenge are the same. The market has no response to these measures, such as the integrated promotion activities and the commitment to implement the distributed verifier technology. The bull market is far away, the return on investment is uncertain, and the points reward has no value. Participants avoid and are satisfied with the status quo. The first integrated sum was launched around the third quarter of 2008 to encourage early participation in these two pools. As a result, the amount after their merger is about 10,000 pieces, far less than 10,000 pieces. The track and imitators didn't stop with the end of the airdrop in the second season, and announced the benefits of the second-class protoplasm pledge in June. A large number of encrypted currencies were immediately forwarded and announced their investment in angels. Although there were no products except a multi-signature wallet that received and pledged commitments, their marketing activities attracted 10,000 pieces in a week, and they have climbed to nearly 10,000 pieces. Until recently, the pledge was mainly a first-class function like this. The popular secondary solution uses the native as a token, and they will not let users lock the contract at risk in any form of pledge. The only pledge that exists on the secondary level is bridging. Even so, its liquidity is negligible, so it is only a matter of time before the market gets what it wants, income and capital efficiency rather than expansibility. It is a potential narrative, but of course, this is only a half-joking statement. At present, it is not yet. It is clear why other projects are so attractive when they are not done. The reasons I think include seizing the early opportunity of the bull market to let influencers join their investment list, owning a well-known brand and project, or possibly recommending a game imitator. After every successful event, imitators will definitely appear in the cryptocurrency field. The key is to act quickly and surpass the original in some aspects. The name is very confused, and they quickly appear and announce their own in less than a month. The secondary primary income plan is looking for a product market fit point through a large amount of funds they raised at the peak of the bull market in, and pays depositors about twice the pledged income. In addition, the transaction code they pledged is very suitable to be the material, which is also a favorable factor. On the other hand, an ecosystem has been pieced together and copied in record time, and the recommended point game even includes cards and boxes, which has led to more than 10,000 pledges, excluding other bridging assets, just like cooperation with Hehe. Their income providers cooperate with their respective agreements, treasury bills and treasury bills respectively. These partnerships have proved that their support for small-scale agreements has doubled after cooperation, but they have developed rapidly from scratch. Some people privately call the practice a hodgepodge of ready-made solutions. This is a highly leveraged bet trying to catch up with the narrative trend. They are the first airdrop and the first project with slightly usable products in the world. This is an impression. Like the profound agility demonstration, there will inevitably be some loopholes and misplacements, and some groups that have been promised to airdrop but have been missed in the middle of the release, they decided to lock two profitable assets in exchange for airdrop points. The activity is called making users promise to use the second level, because there is only one pledge and most assets can be freely extracted, which means that the locked assets will face liquidity discount almost immediately, in fact, it will be traded at a low price, because airdrop farmers will sell them, then bridge them out and then bridge them back. This kind of farming is futile, because from the complaints I collected on the Internet, airdrop. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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