Horizo​​n是AAVE Labs的一項倡議，提出了新的金融產品

Horizo​​n是AAVE實驗室的一項倡議，提出了一項新的金融產品，將現實世界中的資產（RWAS）帶入監管框架下的分散財務（DEFI）。

A new initiative called Horizon is proposing a financial product that would bring real-world assets (RWAs) into decentralized finance (DeFi) in a fully compliant manner.

一項名為Horizo​​n的一項新計劃正在提議以完全合規的方式將現實世界中的資產（RWA）帶入去中心化財務（DEFI）的金融產品。

The initiative, which would be a licensed instance of the Aave Protocol, is expected to generate new revenue streams for the Aave DAO, accelerate GHO adoption, and strengthen Aave’s role as a key player in the growing tokenized asset space.

該計劃將是AAVE協議的許可實例，預計將為AAVE DAO，加速GHO採用，並增強AAVE作為日益增長的標記資產領域的關鍵參與者的作用。

The proposal, which is now being considered by the Aave DAO, aims to integrate institutions into a regulated but permissionless environment, enabling them to use tokenized money market funds (MMFs) as collateral to borrow stablecoins like USDC and Aave’s GHO.

該提案現在已被AAVE DAO考慮，旨在將機構納入受監管但無許可的環境中，使他們能夠使用令牌化的貨幣市場基金（MMF）作為抵押，以藉用像USDC這樣的Stablecoins和Aave的GHO。

This move would unlock liquidity for stablecoins and expand institutional access to DeFi, making it more accessible to regulated financial entities while benefiting the Aave ecosystem.

此舉將解鎖穩定幣的流動性，並擴大對DEFI的機構訪問，從而使受監管的金融實體更容易受益，同時使AAVE生態系統受益。

Institutions To Access Regulated But Permissionless Stablecoin Liquidity

訪問受監管但無許可的Stablecoin流動性的機構

The interest comes amid accelerating institutional adoption. As reported by BeInCrypto, institutions are increasingly showing interest in crypto, especially in the wake of the latest Bitcoin ETF filings by major players like BlackRock (NASDAQ:BLK) and Franklin Templeton.

興趣是在加速機構採用的情況下出現的。正如Beincrypto報導的那樣，機構越來越表現出對加密貨幣的興趣，尤其是在Blackrock（Nasdaq：BLK）和Franklin Templeton等主要參與者的最新比特幣ETF文件之後。

This interest is also being driven by the potential of blockchain technology to enhance liquidity, reduce costs, and enable programmable transactions.

區塊鏈技術的潛力增強流動性，降低成本和實現可編程交易的潛力也使這種興趣驅動。

Moreover, tokenization on blockchain has made traditional assets more accessible on-chain, with tokenized US Treasuries growing by 408% year-over-year to reach $4 billion, according to the initiative's proposal.

此外，根據該計劃的提議，該計劃的提議稱，區塊鏈的令牌化使傳統資產更加容易獲得鏈，並根據該計劃的提議稱，美國的美國國債同比增長408％，達到40億美元。

Subject to approval by the Aave DAO, Horizon’s RWA product will initially launch as a licensed instance of Aave V3. Later, it would transition to a custom deployment of Aave V4 when it becomes available.

在獲得AAVE DAO的批准下，Horizo​​n的RWA產品最初將作為AAVE V3的許可實例推出。後來，它將在可用時過渡到AAVE V4的自定義部署。

According to the proposal, Horizon has proposed a structured profit-sharing mechanism to ensure long-term alignment with the Aave DAO.

根據該提案，Horizo​​n提出了一種結構化的利潤分享機制，以確保與AAVE DAO的長期保持一致。

"This structure includes a 50% revenue share to Aave DAO in Year 1, alongside strategic incentives to drive ecosystem growth," the proposal, which was shared with BeInCrypto, adds.

該提案與Beincrypto共享。“這種結構在第1年包括50％的收入份額，以及推動生態系統增長的戰略激勵措施。”

Additionally, if Horizon launches its token, 15% of its supply will be allocated to the Aave DAO treasury and ecosystem incentives. A portion will also be set aside for staked AAVE holders.

此外，如果Horizo​​n推出了代幣，則其供應量的15％將分配給AAVE DAO財政部和生態系統激勵措施。一部分還將用於固定的ave持有者。

The proposal comes as the rise of RWAs is transforming the financial playing field, and institutions are taking note. Tokenized assets are emerging as a bridge between traditional finance (TradFi) and DeFi, providing investors new opportunities to access yield-bearing assets. Key players include BlackRock (BUILD), Franklin Templeton, and Grayscale.

該提案是隨著RWAS的興起正在改變金融競爭環境，機構正在註意。令牌資產正在作為傳統金融（Tradfi）和Defi之間的橋樑出現，為投資者提供了新的機會來獲取承重資產。關鍵參與者包括貝萊德（Build），富蘭克林·鄧普頓（Franklin Templeton）和灰度。

However, DeFi’s open and permissionless nature poses regulatory challenges. It lacks the compliance frameworks required for large-scale institutional participation.

但是，Defi的開放和無許可的性質構成了監管挑戰。它缺乏大規模機構參與所需的合規框架。

This limits the potential for institutions to contribute to the DeFi ecosystem despite the demand for yield and liquidity management in the decentralized space.

這限制了機構在分散空間中對產量和流動性管理的需求和流動性管理的需求，從而限制了機構為偏見生態系統做出貢獻的潛力。

As such, institutional adoption remains limited without tailored solutions, and integrating RWAs into DeFi at scale presents a significant challenge.

因此，機構採用在沒有量身定制的解決方案的情況下仍然有限，並且將RWAS納入DEFI，提出了一個重大挑戰。

Horizon seeks to bridge this gap by allowing institutions to access permissioned stablecoin liquidity. It will also meet the compliance and risk management requirements of asset issuers.

Horizo​​n試圖通過允許機構獲得許可的Stablecoin流動性來彌合這一差距。它還將滿足資產發行人的合規性和風險管理要求。

Tokenized asset issuers can enforce transfer restrictions and maintain asset-level controls. According to the announcement, this would ensure only qualified users can borrow USDC and GHO.

令牌資產發行人可以執行轉移限制並維護資產級控制。根據公告，這將確保只有合格的用戶才能藉入USDC和GHO。

“A separate GHO Facilitator will enable GHO minting with RWA collateral, offering predictable borrowing rates optimized for institutions. This enhances security, scalability, and institutional adoption of RWAs in DeFi,” the proposal adds.

“一個單獨的GHO促進者將通過RWA抵押品實現GHO鑄造，從而為機構提供了可預測的借貸率。這提高了RWA在DEFI中的安全性，可伸縮性和機構採用。”該提議補充說。

The proposed product builds on the institutional framework established by Aave Arc. To ensure a smooth integration, Horizon will implement a permissioned token supply. It will also feature withdrawal mechanisms, stablecoin borrowing for qualified users, and permissioned liquidation workflows.

擬議的產品建立在AAVE ARC建立的機構框架上。為了確保平穩的集成，Horizo​​n將實施許可的令牌供應。它還將採用戒斷機制，合格用戶的穩定機制以及允許的清算工作流程。

The initiative is expected to enhance the security, scalability, and institutional

該計劃有望提高安全性，可擴展性和機構