Ethena Labs 和 Securitize 提議為 Spark 的 10 億美元代幣化大獎賽提供 USDtb 穩定幣

10 億美元代幣化大獎賽旨在透過向選定的參與者提供流動性，將現實世界資產 (RWA) 引入 DeFi

Ethena Labs and tokenization platform Securitize have jointly submitted a proposal to integrate Ethena’s new stablecoin, USDtb, into Spark's $1 billion Tokenization Grand Prix.

Ethena Labs 和代幣化平台 Securitize 共同提交了一份提案，將 Ethena 的新穩定幣 USDtb 納入 Spark 的 10 億美元代幣化大獎賽。

The competition aims to onboard real-world assets (RWAs) into DeFi by providing liquidity to selected participants, expanding the range of tokenized assets in decentralized ecosystems.

該競賽旨在透過向選定的參與者提供流動性，擴大去中心化生態系統中代幣化資產的範圍，將現實世界資產（RWA）引入 DeFi。

Ethena and Securitize's proposal centers around a unique swap facility between USDtb and Ethena’s synthetic stablecoin, USDe. This innovation will enable participants in the Sky ecosystem (formerly MakerDAO) to dynamically adjust liquidity and risk based on market conditions and interest rate trends.

Ethena 和 Securitize 的提案圍繞著 USDtb 和 Ethena 的合成穩定幣 USDe 之間的獨特互換設施。這項創新將使 Sky 生態系統（以前稱為 MakerDAO）的參與者能夠根據市場狀況和利率趨勢動態調整流動性和風險。

Ethena's substantial contribution to the Sky ecosystem, generating nearly $120 million in annual revenue, positions USDtb to bolster USDe's performance, especially during challenging funding conditions, by enabling dynamic adjustments to its backing composition.

Ethena 對 Sky 生態系統做出了巨大貢獻，產生了近 1.2 億美元的年收入，透過動態調整其支援構成，USDtb 能夠增強 USDe 的業績，特別是在融資條件充滿挑戰的情況下。

Set to launch next week, USDtb is backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), a tokenized US Treasury fund on the Ethereum blockchain. With over $533 million in tokenized assets under management, BUIDL provides a unique foundation for USDtb, presenting an alternative risk profile compared to USDe.

USDtb 將於下週推出，並得到貝萊德美元機構數位流動性基金 (BUIDL) 的支持，該基金是以太坊區塊鏈上的代幣化美國財政部基金。 BUIDL 管理超過 5.33 億美元的代幣化資產，為 USDtb 提供了獨特的基礎，與 USDe 相比，呈現出另一種風險狀況。

While USDe utilizes derivative hedging strategies and is subject to cryptocurrency market fluctuations, USDtb's backing by traditional financial instruments offers a more conservative option.

雖然 USDe 採用衍生性商品對沖策略並受到加密貨幣市場波動的影響，但 USDtb 由傳統金融工具的支援提供了更保守的選擇。

The proposal will be evaluated by a panel that includes Phoenix Labs and Steakhouse Financial based on criteria such as liquidity, pricing competitiveness, and alignment with Spark's strategic objectives. Ultimately, Sky tokenholders will decide on the final selection through a governance vote.

該提案將由 Phoenix Labs 和 Steakhouse Financial 組成的小組根據流動性、定價競爭力以及與 Spark 策略目標的一致性等標準進行評估。最終，Sky 代幣持有者將透過治理投票來決定最終選擇。