金色百科 | 稳定币有哪些不同类型?

币圈资讯 阅读:47 2024-04-22 11:08:16 评论:0
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作者:Yogita Khatri,Theblock 翻译:善欧巴,比特币买卖交易网

稳定币是一种旨在保持稳定价值的加密货币。然而,并非所有稳定币都采用相同的方法来实现这一目标。它们可以大致分为三大类:法定稳定币、加密货币支持和算法稳定币。

法币支持的稳定币

由法定货币支持的稳定币旨在反映美元和欧元等传统货币的价值,是迄今为止最受欢迎的类别。他们的发行人声称他们保留了流动资产储备来支持区块链上的稳定币。理想情况下,他们以现金或现金等价物(例如国债)持有储备,这些储备应等于或超过其稳定币的流通供应量。Tether 的 USDT和Circle 的 USDC是法币支持的稳定币的典型例子。

法定货币支持的稳定币通常用于去中心化金融领域的交易、汇款以及借贷活动。然而,这些稳定币是中心化的,其储备可能包括波动性和风险资产,并且缺乏独立的第三方审计会带来额外的风险。尽管如此,法币支持的稳定币的受欢迎程度、流动性和对价格操纵的抵抗力凸显了它们在加密货币领域的重要性。

加密货币支持的稳定币

顾名思义,加密货币支持的稳定币是由作为抵押品的加密货币支持的。然而,由于加密货币的波动性,加密货币支持的稳定币通常需要超额抵押至特定比率以确保稳定性。例如,抵押率要求为 150%,这意味着用户需要存入价值 150 美元的加密货币才能铸造 100 美元的稳定币。加密货币支持的稳定币的最佳例子是 MakerDAO 的 DAI,它是目前市值最大的加密货币支持的稳定币。

加密货币支持的稳定币是去中心化且无需信任的,但也并非没有风险。支持这些稳定币的抵押品的波动有可能破坏其挂钩,如果价格崩溃,可能会自动清算基础抵押品。

算法稳定币

算法稳定币利用算法和激励机制来维持其价格稳定。与有抵押的法币支持的稳定币或过度抵押的加密货币支持的稳定币不同,算法稳定币通常在抵押不足的情况下运行。这意味着他们不依赖资产储备来实现其价值。

算法稳定币的稳定性很大程度上取决于市场需求。如果需求下降到某个阈值以下,整个系统就会崩溃。这正是去年发生的情况,当时 TerraUSD 稳定币经历了一次重大的脱钩事件,其价格跌破 1 美元,导致大规模抛售,并导致 Terra 区块链系统的治理代币 Luna 的价格下跌。2022 年 5 月, Terra -Luna 的崩溃在短短几天内就让投资者的财富蒸发了超过 400 亿美元。

尽管存在这些潜在的缺点,但算法稳定币提供的透明度和去中心化对一些用户来说可能很有吸引力,因为他们的操作完全由可审计的代码控制。

最后,还有一些资产支持的稳定币,例如 Paxos Gold 和Tether黄金,声称得到贵金属实物储备的支持,通过有形资产提供稳定性。


The stable currency is a kind of cryptocurrency aimed at maintaining a stable value. However, not all stable currencies adopt the same method to achieve this goal. They can be roughly divided into three categories: legal stable currency, cryptocurrency support and algorithm. The stable currency supported by legal tender is aimed at reflecting the value of traditional currencies such as the US dollar and the euro. Their issuers claim that they have retained liquid assets. Reserves to support stable currencies in the blockchain. Ideally, they hold reserves in cash or cash equivalents, such as national debt. The sum of these reserves should be equal to or exceed the circulation supply of their stable currencies. It is a typical example of stable currencies supported by legal tender. Stable currencies supported by legal tender are usually used for decentralized financial transactions, remittances and lending activities. However, these stable currencies are centralized, and their reserves may include volatile and risky assets, and the lack of independent third-party audits will bring extra. Nevertheless, the popularity, liquidity and resistance to price manipulation of the stable currency backed by legal tender highlight their importance in the field of cryptocurrency. As the name implies, the stable currency backed by cryptocurrency is backed by cryptocurrency as collateral. However, due to the volatility of cryptocurrency, the stable currency backed by cryptocurrency usually needs to be over-mortgaged to a certain ratio to ensure stability, such as the mortgage rate requirement, which means that users need to deposit value beauty. The best example of the stable currency supported by cryptocurrency is that it is the largest cryptocurrency supported by cryptocurrency at present. The stable currency supported by cryptocurrency is decentralized and needs no trust, but it is not without risk. The fluctuation of collateral supporting these stable currencies may break its hook. If the price collapses, it may automatically liquidate the basic collateral algorithm. The stable currency uses algorithms and incentive mechanisms to maintain its price stability and offset. Different algorithms of stable currency supported by legal tender or over-mortgaged cryptocurrency usually run under insufficient mortgage, which means that they do not rely on asset reserves to realize their value algorithm. The stability of stable currency depends largely on market demand. If the demand falls below a certain threshold, the whole system will collapse, which is exactly what happened last year. At that time, the stable currency experienced a major decoupling event, and its price fell below the US dollar, leading to large-scale selling and leading to. The governance of blockchain system The price of tokens has fallen, and the collapse of the year has evaporated investors' wealth by more than 100 million dollars in just a few days. Despite these potential shortcomings, the transparency and decentralization provided by algorithmic stable coins may be attractive to some users because their operations are completely controlled by auditable codes. Finally, there are some asset-backed stable coins, such as gold, which claim to be supported by physical reserves of precious metals and provide stability through tangible assets. 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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