Chainlink 的 TVS 飆升至 $25B：勝利還是誤報？

Has Chainlink's TVS Been on a Winning Streak?

Chainlink 的 TVS 一直在連勝嗎？

Chainlink's Total Value Secured (TVS), a measure of the total value protected by its oracle networks, has surged to a lofty $25 billion, leaving its competitors in the dust. But hold your horses, folks. This figure is still a far cry from its $60 billion peak. Still, this recent uptick is a testament to the growing traction of decentralized finance (DeFi) across various blockchains.

Chainlink 的總價值保護 (TVS)（衡量其預言機網路保護的總價值的指標）已飆升至 250 億美元，將其競爭對手遠遠甩在身後。但是，夥計們，別著急。這個數字與 600 億美元的峰值仍相去甚遠。儘管如此，最近的上漲證明了去中心化金融（DeFi）在各種區塊鏈上的吸引力日益增強。

What's the Deal with TVS?

TVS 是怎麼回事？

TVS is the sum of all Total Value Locked (TVL) in protocols and platforms that rely on oracles to secure their precious user funds. Think of it as a gigantic pool of money, with each protocol dipping into it like little kids with their tiny cups. The more protocols that tap into an oracle network, the higher its TVS.

TVS 是依賴預言機來保護其寶貴用戶資金的協議和平台中所有鎖定總價值 (TVL) 的總和。把它想像成一個巨大的資金池，每個協議都像拿著小杯子的小孩一樣投入其中。接入預言機網路的協定越多，其 TVS 越高。

Exception to the Rule

規則的例外情況

But don't get too excited just yet. TVS calculations have their quirks. Some DeFi protocols offer a buffet of financial services, not all of which require the watchful eyes of an oracle. In these cases, only the funds protected by oracles earn a spot on the TVS leaderboard.

但現在先不要太興奮。 TVS 計算有其特別之處。一些 DeFi 協議提供自助式金融服務，並非所有服務都需要預言機的密切關注。在這些情況下，只有預言機保護的資金才能在 TVS 排行榜上佔有一席之地。

Blockchain Breakdown

區塊鏈細分

A closer look at Chainlink's TVS reveals that Ethereum is the reigning champ, fueling most of the recent growth. Despite its hefty transaction fees and occasionally clunky user experience, Ethereum remains the DeFi go-to. And let's not forget the recent bull run in asset prices, which has also contributed to the TVS surge.

仔細觀察 Chainlink 的 TVS 就會發現，以太坊是衛冕冠軍，推動了近期成長的大部分。儘管交易費用高昂且用戶體驗有時也很糟糕，但以太坊仍然是 DeFi 的首選。我們不要忘記最近資產價格的牛市，這也導致了 TVS 的飆升。

Ethereum's Absence

以太坊的缺席

Interestingly, Ethereum's TVS figures don't include the data feed for MakerDAO, which is provided by its native Chronicle oracle. This exclusion is a reminder that even the most dominant chains have their own oracle dynamics.

有趣的是，以太坊的 TVS 資料不包括 MakerDAO 的資料來源，該資料來源由其原生 Chronicle 預言機提供。這種排除提醒我們，即使是最具主導地位的區塊鏈也有自己的預言機動態。

Arbitrum's Rise

Arbitrum 的崛起

Arbitrum has been making waves as a Layer 2 solution on Ethereum, and its Chainlink TVS has mirrored that trajectory, rising from zero in 2021 to a respectable $2.5 billion today. Its popularity among developers and DeFi teams is a testament to its growing importance in the Ethereum ecosystem.

Arbitrum 作為以太坊上的第 2 層解決方案一直在掀起波瀾，其 Chainlink TVS 也反映了這一軌跡，從 2021 年的零上升到今天的 25 億美元。它在開發者和 DeFi 團隊中的受歡迎程度證明了它在以太坊生態系統中日益增長的重要性。

Smaller Players Make a Mark

規模較小的玩家留下了印記

Base and Gnosis have also made notable contributions to Chainlink's TVS. Coinbase's new platform has hit an all-time high of around $200 million in TVS, while Gnosis has reached $90 million, largely thanks to the Maker DAO Spark protocol.

Base 和 Gnosis 也為 Chainlink 的 TVS 做出了顯著的貢獻。 Coinbase 的新平台 TVS 創下了約 2 億美元的歷史新高，而 Gnosis 則達到了 9,000 萬美元，這在很大程度上要歸功於 Maker DAO Spark 協議。

Modest Growth Elsewhere

其他地區適度成長

BSC, Polygon, Avalanche, and Optimism have seen a more modest TVS growth since the start of 2024, suggesting that DeFi expansion is not as widespread across these chains. Fantom, in particular, has seen virtually no movement.

自 2024 年初以來，BSC、Polygon、Avalanche 和 Optimism 的 TVS 成長較為溫和，這表明 DeFi 擴張在這些鏈中並不普遍。尤其是 Fantom，幾乎沒有看到任何動靜。

Tron and Solana Dance to Their Own Tunes

Tron 和 Solana 按照自己的曲調起舞

Tron, the second largest EVM-compatible blockchain, is noticeably absent from Chainlink's radars. This is because WinkLink oracle dominates that chain. Solana, on the other hand, has seen a muted TVS with Chainlink, despite its reputation for innovation. Pyth, Switchboard, and Dia currently hold sway over Solana's oracle landscape.

Tron 作為第二大 EVM 相容區塊鏈，顯然沒有出現在 Chainlink 的雷達中。這是因為 WinkLink 預言機主導了該鏈。另一方面，儘管 Solana 以創新著稱，但 Chainlink 的 TVS 表現平平。 Pyth、Switchboard 和 Dia 目前在 Solana 的預言機領域佔據主導地位。

Low TVS: Not Always a Sign of Inactivity

TVS 低：不總是不活動的跡象

A low Chainlink TVS doesn't necessarily mean that a blockchain is dead in the water. Some chains, like Tron, may have their own oracle solutions. Still, Chainlink's dominance in the oracle market makes its TVS distribution a valuable barometer for the health of the DeFi sector.

Chainlink TVS 較低並不一定意味著區塊鏈已經死了。有些鏈，例如 Tron，可能有自己的預言機解決方案。儘管如此，Chainlink 在預測機市場的主導地位使其 TVS 分佈成為 DeFi 領域健康狀況的寶貴晴雨表。