隨著美國公民選舉共和黨候選人唐納德·川普，DeFi 代幣上漲 25% 或更多，引發「DeFi 復興」的希望

流動性質押領先者 Lido 的治理代幣 LDO 在過去 24 小時內上漲了 40.3% 至 1.37 美元，使該加密貨幣的市值接近 12 億美元。

Following the election of Republican candidate Donald Trump as the next president of the United States, DeFi tokens have surged, with many tokens jumping 25% or more amid hopes for a “DeFi Renaissance.”

共和黨候選人唐納德·川普當選美國下一任總統後，DeFi 代幣價格飆升，許多代幣在「DeFi 復興」的希望下上漲了 25% 或更多。

The governance token for number one liquid staking service Lido, LDO, has increased 40.3% to $1.37 in the last 24 hours, bringing the cryptocurrency to a market cap of nearly $1.2 billion. The native tokens for Solana-based decentralized exchange Raydium and Ethereum-based exchange Uniswap have both jumped more than 30% to $4.30 and $9.49, respectively, in the same time period.

排名第一的流動性質押服務 Lido 的治理代幣 LDO 在過去 24 小時內上漲了 40.3% 至 1.37 美元，使該加密貨幣的市值達到近 12 億美元。在同一時期，基於 Solana 的去中心化交易所 Raydium 和基於以太坊的交易所 Uniswap 的原生代幣均上漲了 30% 以上，分別達到 4.30 美元和 9.49 美元。

Meanwhile, synthetic dollar provider Ethena’s governing token ENA has grown 35.7% to 47 cents, while top lending protocol by total value locked Aave has seen its token spring 28%. The number of deposits into lending protocols also reached a two-year high of $52.4 billion on Monday, data from blockchain analytics firm Artemis shows.

同時，合成美元供應商 Ethena 的管理代幣 ENA 成長了 35.7%，達到 47 美分，而鎖定總價值最高的借貸協議 Aave 的代幣也成長了 28%。區塊鏈分析公司 Artemis 的數據顯示，週一借貸協議的存款數量也達到了兩年來的最高點 524 億美元。

With U.S. citizens electing Trump and more crypto-friendly representatives in the legislative branch, those in the DeFi ecosystem are optimistic for regulatory clarity.

隨著美國公民選舉川普和立法部門中更多對加密貨幣友善的代表，DeFi 生態系統中的人們對監管的明確性持樂觀態度。

“The biggest Trump-specific change is likely to be a push for greater regulatory clarity around the broader crypto ecosystem, so we think altcoins could see meaningful outperformance as well,” wrote Seth Ginns, managing partner and head of liquid investments at CoinFund, in an email to Unchained.

CoinFund 管理合夥人兼流動性投資主管Seth Ginns 寫道：「川普特有的最大變化可能是推動更廣泛的加密生態系統的監管更加明確，因此我們認為山寨幣也可能會出現有意義的優異表現。

According to Alexander Cutler, a core contributor of Aerdorome, a DEX on Coinbase-incubated L2 Base, the lack of legal and regulatory clarity has been one of the biggest limiting factors for the growth of DeFi. “The U.S. elections are seemingly sending a signal that a more amenable regulatory regime might be incoming,” Cutler added.

Coinbase 孵化的 L2 Base 上的 DEX Aerdorome 的核心貢獻者 Alexander Cutler 表示，缺乏法律和監管明確性一直是 DeFi 發展的最大限制因素之一。卡特勒補充道：“美國大選似乎發出了一個信號，即可能會出現更順從的監管制度。”

Under the Biden-Harris administration, the U.S. Securities and Exchange Commission chaired by Gary Gensler has been hostile to the crypto space, bringing a number of enforcement actions against several DeFi protocols. For example, the SEC not only gave a Wells notice to Uniswap Labs, notifying the firm of upcoming legal action, but the agency also implied in a suit against software developer Consensys that Lido’s liquid staking token stETH was an unregistered security.

在拜登-哈里斯政府領導下，由加里·詹斯勒 (Gary Gensler) 擔任主席的美國證券交易委員會一直對加密貨幣領域充滿敵意，對多個 DeFi 協議採取了一系列執法行動。例如，SEC 不僅向 Uniswap Labs 發出了 Wells 通知，通知該公司即將採取法律行動，而且該機構還在對軟體開發商 Consensys 的訴訟中暗示，Lido 的流動質押代幣 stETH 是一種未註冊的證券。

Crypto participants anticipate Trump will fire Gensler, which “could provide guidance on how can DeFi protocols like Uniswap turn on their fee switch so that [it] can rebate protocol revenue to UNI token holders,” wrote Keyu Liu, an investor at crypto prop investment firm Primitive Ventures. Optimism about DeFi has improved because, with clearer guidance, builders can focus on the biggest problem for DeFi tokens which is their inability to redirect revenue to holders, per Liu.

加密貨幣參與者預計川普將解僱Gensler，加密貨幣道具投資公司的投資者Keyu Liu 寫道，Gensler「可以為Uniswap 等DeFi 協議如何打開費用開關提供指導，以便將協議收入返還給UNI 代幣持有者”公司原始創投公司。 Liu 表示，人們對 DeFi 的樂觀情緒有所改善，因為有了更清晰的指導，開發者可以專注於 DeFi 代幣的最大問題，即他們無法將收入重新分配給持有者。

On Wednesday evening, crypto market maker and liquidity provider Wintermute created a governance proposal with the end goal of enabling an ENA fee switch. Ethena has generated $128.4 million in fees year-to-date, per Token Terminal.

週三晚上，加密貨幣做市商和流動性提供者 Wintermute 創建了一項治理提案，最終目標是啟用 ENA 費用轉換。年初至今，Ethena 已為每個代幣終端產生了 1.284 億美元的費用。

Others, such as X users @degentradingLSD and @chainyoda, hope a new political atmosphere leads to a new ETH ETF with staking rewards. On Wednesday night, Coinbase protocol specialist Viktor Bunin wrote, that in light of a new political regime, crypto will “fire Gary,” “turn on staking in ETH ETFs,” and “shutter SEC lawfare investigations.”

其他人，例如 X 用戶 @degentradingLSD 和 @chainyoda，希望新的政治氛圍能催生出具有質押獎勵的新 ETH ETF。週三晚上，Coinbase 協議專家 Viktor Bunin 寫道，鑑於新的政治政權，加密貨幣將“解僱加里”，“開啟 ETH ETF 的質押”，並“終止 SEC 的法律調查”。

As to why people are excited about DeFi’s growth trajectory and ability to disrupt traditional finance, Aerodrome’s Cutler argues DeFi has “real undisputed product market fit, delivering institutional level products and services, without the value extraction of intermediaries. That creates a surplus of value that can be shared with users.”

至於為什麼人們對 DeFi 的成長軌跡和顛覆傳統金融的能力感到興奮，Aerodrome 的卡特勒認為 DeFi 具有「真正無可爭議的產品市場契合度，提供機構級別的產品和服務，無需中介機構的價值提取。這創造了可以與用戶分享的剩餘價值。

“DeFi is so back. Ethereum holders became about $34 [billion] richer today. It matters because they’re not just buying DeFi tokens, but also using the protocols,” wrote Joseph Schiarizzi, founder of stablecoin provider Nerite, in a message to Unchained. “There’s more ETH in the protocols and that ETH is worth more. So buying DeFi tokens could be seen as getting beta on that.”

「DeFi 又回來了。今天，以太坊持有者的財富增加了約 340 億美元。這很重要，因為他們不僅購買 DeFi 代幣，還使用這些協議。 「協議中有更多的 ETH，而且 ETH 的價值也更高。因此，購買 DeFi 代幣可能被視為獲得了測試版。

The total value locked in DeFi protocols currently stands at almost $89 billion, per DefiLlama.

據 DefiLlama 稱，目前 DeFi 協議鎖定的總價值接近 890 億美元。