BFUSD：幣安澄清了圍繞其新的有獎勵保證金資產的誤解

幣安最近解決了對其新資產 BFUSD 的廣泛誤解。 BFUSD 於 2024 年 11 月 18 日宣布，吸引了大量投資者

Binance has clarified that its new asset, BFUSD, is not a stablecoin and has not yet been launched. This comes after early reactions mistook the asset for a high-yield stablecoin, given its promising returns and the “USD” label.

幣安已澄清其新資產 BFUSD 不是穩定幣，尚未推出。鑑於其可觀的回報和「美元」標籤，早期反應將該資產誤認為是高收益穩定幣。

However, Binance has stated that BFUSD is a reward-bearing margin asset for futures trading.

不過，幣安表示，BFUSD是用於期貨交易的有獎勵保證金資產。

In a post on social media platform X, Binance stated:

幣安在社群媒體平台 X 上的一篇貼文中表示：

“BFUSD is not yet launched. To be clear, it is not a stablecoin but a reward-bearing margin asset for futures trading. We are glad to see the community’s interest and will share more details soon, including how APY is determined.”

“BFUSD 尚未推出。需要明確的是，它不是穩定幣，而是用於期貨交易的有獎勵的保證金資產。我們很高興看到社區的興趣，並將很快分享更多細節，包括 APY 是如何確定的。

BFUSD Not a Stablecoin, Set to Launch Soon

BFUSD 不是穩定幣，即將推出

Binance's statement comes in response to widespread misconceptions about its new asset, which is yet to be launched.

幣安的聲明是為了回應對其尚未推出的新資產的廣泛誤解。

In a post on social media platform X, Binance stated:

幣安在社群媒體平台 X 上的一篇貼文中表示：

“We're excited to introduce BFUSD, a new margin asset with an APY of 19.55%. Enjoy attractive high APY on your BFUSD holdings, surpassing the yields offered by many other stablecoins.”

「我們很高興推出 BFUSD，這是一種新的保證金資產，年化收益率為 19.55%。您持有的 BFUSD 可以享受極具吸引力的高年化收益，超過許多其他穩定幣提供的收益率。

This statement, coupled with the high yield and the “USD” label, led to early reactions that mistook BFUSD for a high-yield stablecoin.

這項聲明，加上高收益和「美元」標籤，導致早期反應將 BFUSD 誤認為是高收益穩定幣。

However, Binance has clarified that BFUSD is a margin asset for futures trading, not a stablecoin. The company added that it will provide more details soon, including how the APY is determined.

不過，幣安已澄清，BFUSD是用於期貨交易的保證金資產，而不是穩定幣。該公司補充說，它將很快提供更多細節，包括 APY 的確定方式。

High-Yield Margin Asset, Daily Rewards

高收益保證金資產，每日獎勵

BFUSD acts as collateral for margin trading without the need for fund staking or lock-up periods. Users can receive rewards through daily airdrops, which are determined by hourly snapshots of their BFUSD holdings in the UM wallet. These rewards are then deposited into a UM Futures Wallet.

BFUSD 可作為保證金交易的抵押品，無需資金質押或鎖定期。用戶可以透過每日空投獲得獎勵，空投由他們在 UM 錢包中持有的 BFUSD 每小時快照決定。這些獎勵隨後存入 UM 期貨錢包。

Despite the high yield, Binance has yet to fully explain how BFUSD will generate its 19.55% APY, leaving users speculating in the interim. The fine print on the BFUSD product page states, “Enjoy attractive high APY on your BFUSD holdings, surpassing the yields offered by many other stablecoins,” which has contributed to the initial confusion.

儘管收益率很高，但幣安尚未完全解釋 BFUSD 將如何產生 19.55% 的年化收益，讓用戶在此期間進行猜測。 BFUSD 產品頁面上的細則指出，“在您持有的 BFUSD 上享受有吸引力的高年化收益，超過許多其他穩定幣提供的收益率”，這導致了最初的混亂。

Industry Trends and Comparisons

產業趨勢與比較

The launch of BFUSD follows a growing trend in the crypto space, where firms are offering high-yield tokens pegged to the US dollar but based on the traditional stablecoin model.

BFUSD 的推出遵循了加密貨幣領域的成長趨勢，該領域的公司提供與美元掛鉤但基於傳統穩定幣模型的高收益代幣。

For example, BlackRock has introduced its BUIDL token. This on-chain money market fund invests in short-term US Treasury bills. Ethena has introduced USDe, a synthetic dollar that aims to keep its value stable through an automated delta-hedging approach.

例如，貝萊德推出了 BUIDL 代幣。此鏈上貨幣市場基金投資於短期美國國債。 Ethena 推出了 USDe，一種合成美元，旨在透過自動 Delta 對沖方法保持其價值穩定。