Renzo的ezETH为何会脱钩80%？
作者：Jack Inabinet，Bankless；编译：陶朱，虚拟币交易所平台,数字货币,NFT
The author compiles digital currency, the platform of Taozhu Virtual Coin Exchange. 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
Renzo 的 ezETH 流动性再质押代币（LRT）脱钩 80% ！ 是什么导致了这一问题，代币价格有何反应？
昨天下午，Renzo Protocol 公布了其空投的最终计划，表示 REZ 总供应量的 5% 将分发给参加了第一季 ezPoints 活动的早期用户。 据透露，第一次分发的快照将于本周五，即 4 月 26 日进行。
公告发布后，ezETH 能够在几个小时内保持其锚定，但该代币在美国东部时间晚上 10 点开始逐渐脱离锚定，在疯狂的顶峰期间折扣低至 0.22 ETH，持续了大约一小时。
尽管市值为32亿美元，但在脱钩之前，主网交换池中与 ezETH 配对的 ETH 仅有 2700 万美元； 这种稀薄的流动性加上提款的缺乏使得 ezETH 出现了如此巨大的混乱。
此后，ezETH 的价格已从底部大幅反弹，但仍保持小幅折价，这可能反映出未来脱钩的风险，考虑到配对 ETH 的流动性现在更加稀薄，在昨天的事件之后跌至 1000 万美元。
Renzo 的 ezETH 是 DeFi 中集成最广泛的 LRT 之一，仅次于 ether.fi 的 eETH。 随着昨天价格开始暴跌，这些协议被迫进行清算，从而加剧了脱钩现象。
例如， Gearbox 损失了 55% 的 ezETH TVL，同时借贷平台 Morpho 对超过 2500 万美元的 ezETH 抵押品进行了 150 多次清算。
虽然 ezPoints 活动第二季的出现应该会在 4 月 26 日快照发布后阻碍提款，但鉴于该代币的流动性日益稀薄，如果更多储户希望退出，那么肯定存在另一个 ezETH 脱钩的不小的风险。
其他 LRT 协议应该谨慎地向 ezETH depeg 学习，并应考虑启用提款、提供多链流动性解决方案（类似于 Renzo 通过 Connext 的方法），并在宣布空投分配之前维持 ETH 储备以捍卫其挂钩，这可能会促使一些储户退出。
The liquidity re-collateralized token (LRT) of Renzo's ezETH decoupled by 80%! What caused this issue and how did the token price react?
Yesterday afternoon, Renzo Protocol announced the final plan for its airdrop, stating that 5% of the total supply of REZ will be distributed to early users who participated in the first season of the ezPoints event. It was revealed that the first distribution snapshot will take place this Friday, April 26th.
Following the announcement, ezETH was able to maintain its peg for several hours, but the token gradually decoupled starting at 10 PM Eastern Time, reaching a low of 0.22 ETH during the peak frenzy period, lasting for about an hour.
Despite a market cap of $3.2 billion, before the decoupling, there was only $27 million of ETH paired with ezETH in the mainnet exchange pool; this thin liquidity combined with a lack of withdrawals led to such massive chaos with ezETH.
Since then, the price of ezETH has rebounded significantly from the bottom, but still maintains a slight discount, which may reflect the risk of future decoupling, considering that liquidity with paired ETH is now even thinner, dropping to $10 million after yesterday's events.
Renzo's ezETH is one of the most widely integrated LRTs in DeFi, second only to eETH from ether.fi. With the price plummeting yesterday, these protocols were forced to liquidate, exacerbating the decoupling phenomenon.
For example, Gearbox lost 55% of its ezETH TVL, while the lending platform Morpho liquidated over $25 million worth of ezETH collateral over 150 times.
While the appearance of the second season of the ezPoints event should hinder withdrawals after the snapshot release on April 26th, given the increasingly thin liquidity of the token, there is certainly a significant risk of another decoupling of ezETH if more depositors wish to exit.
Other LRT protocols should carefully study the ezETH depeg and consider enabling withdrawals, providing multi-chain liquidity solutions (similar to Renzo's approach through Connext), and maintaining ETH reserves before announcing airdrop allocations to defend their peg, which may prompt some depositors to exit.
注册有任何问题请添加 微信：MVIP619 拉你进入群
打开微信扫一扫
添加客服
进入交流群
