KEZUHEXINGJINGCHANGBEIRENWEISHIDeFiDEMIMIWUQI，“JINQIANLEGAO”SHIDECHANPINHEFUWUNENGGOUWUXUKEDIXIANGHUGUANLIAN，CONGERJIANGCHUANGXINZAITIKUOZHANDAOGULIDEGONGSIZHIWAI。

BIFANGSHUO，PooltogetherSHIYIZHONGWUSUNDEDeFiCAIPIAO，TACHUANGZAOLEYIZHONGYOUQUDECHUXUCHANPIN，KEYIJIANGCUNKUANJIZHONGQILAI，RANHOUMEIZHOUJIANGLEIJIDELIXIJIAOJIXINGYUNDEZHONGJIANGZHE。PooltogetherBUXUYAOJIANZAOTAIDUO，TAZHUYAOYILAIYUCompoundHEDai，BINGQIEBUXUYAODEDAOTAMENDEXUKE。

KEZUHEXINGWUYISHIDeFiDESHENGJING，QIYEJIABUXUYAOJIANZAOYIJINGCUNZAIDEDONGXI，ERZHIXUYAOLIYONGXIANYOUDECHANPINLAIZHIZAOXINDEDONGXI。JIEZHIMUQIAN，DAIBIHEZHINENGHEYUEDIAOYONGSHIDeFiKEZUHEXINGDEZUIJIASHILI，ERZUIJINJIGEYUE，YEXIANSHICHULEDeFiYONGHUDEKEZUHEXING。

ZHENGRUXINQIYEJIAKEYIZAIAave，SynthetixHUOUniswapZHISHANGGOUJIAN，TAMENYEKEYIWEIAave，SynthetixHUOUniswapYONGHUERJINXINGGOUJIAN。

社区Piggyback（“ 骑小猪”）

SHAOHOUWOMENJIANGTAOLUNSushi“SHOUSI”，DANJICHENGXIANYOUXIANGMUSHEQUXINXIANGMUDEZUIHAOLIZIJIUSHIYAM。YAMSHIZAIMEIYOUYUWADEQINGKUANGXIATUICHUDE，XINDEYAMDAIBIHUIFENFAJIZHIYAZHE，DANBINGFEISUOYOUDAIBIDOUKEYIHUODE，QIXUANZELE8GEFUHEYAMCUNKUANYOUXITIAOJIANDEDAIBI。

YOURENKENENGHUIRENWEI，JIESHOURENHEZICHANLAIZENGZHANGXIEYIDESUODINGZHI（TVL）BUSHIGENGHAOMA？SHIJISHANG，ZAICHUSHIJIEDUAN，ZHENDUITEDINGDAIBIFAXINGJIANGLI，ZHEIDUIYUZHEIXIESHEQUJIDAIBICHIYOUZHEERYANSHIFEICHANGYOUXIYINLIDE。

DUIYUMEIYOUYAMHUOZHEXUYAOZHIYA8ZHONGDAIBIZHIYIDEXINRENLAISHUO，HUOQUZHEIXIEDAIBIYICHENGWEIYOUXIBENSHENDEYIBUFEN。ZAIQIDONGYAMZHIHOUBUJIU，RENHEKEYIYONGLAIZHUANQUYAMDEDAIBIDOUJINGLILEBAOZHANG，ZHENGRUNIZAIMessariSHAIXUANCHENGXUZHONGKANDAODENEIYANG：

实际上，YAM并不是为了追求这些质押的代币，而是在追求这些代币背后的社区。

YAMBENZHISHANGSHIZUHELECompoundDEZHILI、SynthetixDEStakingYIJIAmpleforthDEZHONGZHIDIAOZHENG，YINCIZHENDUIZHEIXIEDAIBIDECHIYOUZHESHIYOUYIYIDE。

DANGRAN，ZHEISHIYIZHONGGONGSHENGGUANXI（ZHISHAOYIKAISHISHIZHEIYANGDE），XINJINRUZHEXUYAOGOUMAIDAIBICAINENGCANYUZHEIZHONGYOUXI，ZHEISHIDEMUBIAODAIBIZICHANDECHIYOUZHEGANDAOYUYUE。

ZHENGRUMakerSUOJINGLIDENEIYANG，DANGDaiXUQIUBIAOSHENG，BINGQIECHENGWEIZHEIZHONGNONGGENGHUODONGDESHOUXUANSHI，DAIBISHEJIJIUXUYAOFANGYUQIANZAIDEZHISHUJIXUQIU，MUQIAN，DaiDEJIAOYIJIAGERENGRANGAOYUQIMAODINGMUBIAOZHI1MEIYUAN。

针对流动性提供者，而不是代币持有者

ZAIYAMZHUIQIUDAIBICHIYOUZHESHI，YUELAIYUEDUODEXIANGMUJIANGLIUDONGXINGTIGONGZHE（LP）ZUOWEIMUBIAO，YIJINXINGDAIBIFAXINGYOUXI。

ZAIWOKANLAI，BASEDSHIDIYIGEJIANGXIANYOULIUDONGXINGTIGONGZHE（LP）ZUOWEIXINDAIBIFENFAMUBIAODEXIANGMU。CANYUZHEKEYITOURUCurve $ sUSDv2 LPDAIBIJINXINGCHUSHI$ BASEDFENPEI，XIANRAN，BASEDDESHEJIZHEZHIDAOTAMENDEMUBIAOSHOUZHONG。

sUSDCHIZHONGJIBENJIUSHISNXCHIYOUZHE，YOUXIERENKENENGHUIBATAMENCHENGWEIdegen-estDAIBISHEQU，DAN80%DESNXYIZHIYAZAISynthetixZHONG，YINCIBASEDMIAOZHUNLESHEQUZHONGLIUXINGDELPDAIBILAIYINDAOYONGHUQUN。ZAIBASEDJIANGLIQIDONGZHIHOU，DaiHEsUSDDEDAIBIJIAOYIJIAGESHENZHISHANGZHANGDAOLE1.1MEIYUAN。

“寿司”时刻

HAODE，XIANZAIZHONGYULUNDAOSushiSwapLE，ZHEISHIYIGESHANGWEIZHENGSHIQIDONGDEUniswapFENCHAXIANGMU，SHANGZHOUKAISHI，GAIXIANGMUKAIQILEDAIBIFENFAHUODONG，TASHIYONGLELEISIYUYAMDEStakingJIEKOU，DANZHENDUIDESHIUniswap LPDAIBI，ERBUSHIDICENGDAIBI。ERSushiSwapZHENDUIDESHILIANGGEZHONGDIEDEQUNTI：

1. 代币社区：SNX, LINK, UMA, COMP, YFI等；
2. Uniswap流动资金提供者（LP）；

ZAI“SHOUSI”DAIBIKAISHIFENFAZHIHOU，MUBIAODAIBIDEJIAGEKAISHISHANGZHANG，QIZHONGMOUXIEDAIBIJINGLILEBAOZHANG（LIRUUMA），DANTAMENDEJIAGEZOUSHIKENENGHUIJIANRUO，YINWEIMUBIAODAIBIRENGZAIUniswapCHIZHONG，ERBUSHISUODINGZAIHEYUEZHONG。

ZHENGRUYAMZENGJIALECANYUQIWAKUANGYOUXISUOXUDAIBIDEXUQIU，“SHOUSI”YEZENGJIALEXIANGGUANUniswap LPDAIBIDEXUQIU，CANYUZHEXUYAOJIANGZIJINCUNRUDAOTEDINGDEUniswapCHIZHONG，ZHEIDAOZHIUniswapDELIUDONGXINGJIZENG。

JINGUANMUQIANLIUDONGXINGDOUZAIUniswapZHONG，DANCHAOGUO80％DELPDAIBITUOGUANZAISushiSwap StakingHEYUEZHONG。SushiSwapSHIXIWANGZAIQIDONGHOUJIANGLIUDONGZIJINQIANYIDAOZIJIDEDEX，DANGENJUTUICE，YIDANHUIBAOJIANSHAO，BUFENZHIYADELPDAIBIJIUHUILIKAI，CIWAI，QIANYIGUOCHENGDEWEIZHISHUSHIFEICHANGDADE，YINCI，ZAILINJINQIANYIQIAN，KENENGHUIYOUGENGDUOZHIYADELPDAIBIHUIXUANZELIKAI。

流动性提供者（LP） ≠ 交易者

“SHOUSI”WUYICHENGWEILEDANGXIAZUIREDEdefiHUATIZHIYI，ERSushiSwapDETVLZHIBIAOBIANHUA，XIANSHICHULIUDONGXINGSHIDUOMEFANFUWUCHANG，DANLIUDONGXINGSHIJISHIYIGELUOHOUDEZHIBIAO。

LIUDONGXINGTIGONGZHE（LP）ZHUIQIUDESHIFEIYONG，ERFEIYONGSHIHEJIAOYILIANGGUAGOUDE，ZAIZHEIFANGMIAN，UniswapYIJIUSHIWANGZHE：

YUYIGEYUEQIANXIANGBI，ZHEISHIYIGELINGRENNANYIZHIXINDEJIAOYILIANGCHENGJI，YOUQISHIZAIgasFEIYONGRUCIZHIGAODEQINGKUANGXIA。

NIKEYICHANGSHITONGGUODAIBIJIANGLILAIXIYINLIUDONGXINGTIGONGZHE（LP），DANQUEBAOCHENGGONGDEWEIYIFANGFASHI，YIGEXIANGMUNENGFOUXIYINJIAOYILIANGJISUIZHIERLAIDEFEIYONG。FENCHAUniswapXIEYIKENENGHUIXIYINBUKEZHIDELIUDONGZIJIN，DANSHANGBUQINGCHUFENCHAUniswap.exchangeSHIFOUHUIYOUSUOBANGZHU。MUQIANUniswapYICHENGWEIDeFi（SHENZHIJIAMIHUOBI？）JIAOYILINGYUDEZHONGXIN，JIUXIANG2017NIANDEBIANYIYANG，TATONGCHANGSHIZUIREMENXINDAIBIDESHOUFAJIAOYIDI。

ZONGDELAISHUO，QITAXIANGMUKEYIHEUniswapDUOQUSHICHANGFENE，DANGENGDUODEZHONGDIANYINGGAIFANGZAIXIYINJIAOYIZHESHANG，ERBUJINJINSHIXIYINLIUDONGXINGTIGONGZHE（LP）。

本周值得关注的现象：Balancer的增长

SHANGMIANSHIGUANYUBalancerDEYIPIANZHONGYAOTUIWEN，ZAIHENDUORENDOUZAICHANGSHIFENCHAUniswapDESHIHOU，BalancerQUDELEXIANGDANGDADEZENGZHANG。BalancerYIJINXINGLEJIAOWEICHENGGONGDELIUDONGXINGWAKUANGHUODONG，SUIRANKEDIAOZHENGDETOUZIZUHEQUANZHONGTONGCHANGBEISHIWEITADESHASHOUJIAN，DANSHEZHIDINGZHIFEIYONGDENENGLIDUILIUDONGXINGTIGONGZHE（LP）LAISHUOTONGYANGJUYOUXIYINLI。BIFANGSHUO，YIXIEBODONGXINGJIAODADEZICHANCHIHUISHOUQUGAOEFEIYONGYIMIBUWUCHANGSUNSHI，ERUMAZEWEIQIyUSDOct20DAIBITUICHULEYIGEJILICHI，ERZHEIGECHIZIDESHOUFEIJINWEI0.01%。

本周图表：Aave和compound

MUQIANLAIKAN，DeFiXIANGMUDESHOURUYIJIUHENNANJINXINGBIJIAO，DIERZHANGTUQIANGDIAOLELENDHECOMPDONGTAIDECHAYI，ZHEISHIYOULIANGZHONGBUTONGDEFENPEICELVESUOZHI，JI2017NIANDEICO（LEND）HE2020NIANDESHOUYINONGGENGYUQI（COMP）。