在從瘋狂到理性的過渡過程中

在從加密貨幣市場中從瘋狂到合理性過渡到合理性的過程

In the process of transitioning from frenzy to rationality in the cryptocurrency market, and from conceptual speculation to value accumulation, the blockchain ecosystem is quietly undergoing a qualitative change. Over the past few years, DeFi (Decentralized Finance) has reshaped the rules of traditional finance with permissionless financial protocols, allowing capital to flow freely across the globe. Meanwhile, the exploration of RWA (Real World Assets) on the blockchain is attempting to bridge the gap between the traditional financial system and the blockchain world, mapping trillions of dollars of real assets onto the chain and further releasing financial efficiency.

在從加密貨幣市場中從瘋狂到合理性的過渡過程，從概念投機到價值積累，區塊鏈生態系統正在悄悄地經歷定性的變化。在過去的幾年中，DeFi（分散的財務）通過無許可的財務協議重塑了傳統財務規則，從而使資本可以在全球範圍內自由流動。同時，對區塊鏈的RWA（現實世界資產）的探索正試圖彌合傳統金融體係與區塊鏈世界之間的差距，將數万億美元的實際資產映射到了連鎖店中，並進一步釋放了財務效率。

In this transformation, the flow of capital often hints at future trends. Recently, the frequent investments by WLFI, a company under former U.S. President Donald Trump's family, in the blockchain space have become a focal point in the market. Particularly, the continued investment in the SEI network not only reflects WLFI's long-term optimism towards the DeFi and RWA sectors but also indicates that traditional capital is accelerating its penetration into the on-chain world, injecting new narratives and confidence into the cryptocurrency market.

在這種轉變中，資本的流程通常暗示未來的趨勢。最近，在美國前總統唐納德·特朗普（Donald Trump）的家人領導下的一家公司在區塊鏈領域的頻繁投資已成為市場上的重點。特別是，對SEI網絡的持續投資不僅反映了WLFI對DEFI和RWA部門的長期樂觀態度，而且還表明，傳統資本正在加速其進入鏈界世界的滲透，向加密貨幣市場注入新的敘事並將其註入了信心。

Trump's Family Bet: The Resonance of Capital, Technology, and "Political Premium"

特朗普的家庭押注：資本，技術和“政治溢價”的共鳴

According to on-chain data, WLFI has made several significant purchases on the SEI network, with a total investment exceeding $225,000 in SEI tokens in just the past two months.

根據鍊鍊數據，WLFI在SEI網絡上進行了幾次大量購買，在過去的兩個月中，總投資超過了SEI令牌225,000美元。

As a company closely related to the U.S. Trump family, WLFI's actions in the crypto market are more easily interpreted as a form of "political endorsement." The Trump family's favor towards SEI not only adds capital strength to SEI but also implicitly attaches a "political premium," attracting more attention from traditional investors.

作為一家與美國特朗普家族密切相關的公司，WLFI在加密市場中的行動更容易被解釋為“政治認可”的一種形式。特朗普家族對SEI的支持不僅增加了SEI的資本實力，而且還隱含著“政治溢價”，從而吸引了傳統投資者的更多關注。

However, WLFI's entry is not a blind pursuit of profit but a strategic choice based on SEI's technological advantages and ecological potential in the DeFi and RWA fields. SEI is becoming a hotbed of "new infrastructure" in the DeFi and RWA sectors due to its high throughput, low costs, and financial-grade infrastructure.

但是，WLFI的進入並不是對利潤的盲目追求，而是基於SEI在Defi和RWA領域的技術優勢和生態潛力的戰略選擇。由於其高吞吐量，低成本和金融級基礎設施，SEI正成為Defi和RWA領域“新基礎設施”的溫床。

Technical Field: High Throughput + Low Cost, The Ideal Soil for DeFi and RWA

技術領域：高吞吐量 +低成本，是Defi和RWA的理想土壤

In the process of on-chainization of DeFi and RWA, the performance and cost of public chains are crucial. SEI's core advantage lies in its efficient and low-cost trading environment, making it an ideal platform for financial-grade applications:

在DEFI和RWA的鏈接過程中，公共連鎖店的性能和成本至關重要。 SEI的核心優勢在於其高效且低成本的交易環境，使其成為金融級應用程序的理想平台：

5 Gigas per second throughput: SEI can process thousands of transactions per second, far exceeding Ethereum and most public chains. This high performance gives it a significant advantage in high-frequency trading and liquidity protocols, especially suitable for high-frequency clearing scenarios in DeFi.

每秒吞吐量為5 gigas：SEI每秒可以處理數千筆交易，遠遠超過以太坊和大多數公共連鎖店。這種高性能在高頻交易和流動性方案中具有重要優勢，尤其適用於DEFI中的高頻清除方案。

Native trading matching engine: SEI's built-in on-chain trading matching mechanism optimizes order execution efficiency, significantly reduces slippage, and enhances capital utilization. This technological advantage makes it more competitive in on-chain order book DEX and RWA asset settlement.

本地交易匹配引擎：SEI內置的鏈上交易匹配機制優化了訂單執行效率，大大降低了滑倒並增強了資本利用。這種技術優勢使其在鏈訂單DEX和RWA資產結算中更具競爭力。

Extremely low transaction costs: SEI's gas fees are far lower than Ethereum's, allowing DeFi and RWA projects to operate at a lower cost, attracting a large number of developers and institutions to settle in.

非常低的交易成本：SEI的汽油費遠低於以太坊的費用，使Defi和RWA項目以較低的成本運營，吸引了大量開發商和機構來定居。

These series of technical features not only make SEI stand out in the DeFi sector but also provide a solid foundation for the on-chain mapping and circulation of RWA assets.

這些系列的技術功能不僅使SEI在Defi領域中脫穎而出，而且為RWA資產的鏈映射和循環提供了堅實的基礎。

DeFi Explosion: Focus on Ecological Data

DEFI爆炸：關註生態數據

SEI's DeFi ecosystem is experiencing explosive growth. According to the Q4 data report released by Messari, SEI's on-chain trading volume reached approximately $1 billion in Q4 2024, with 65% coming from DeFi protocols. The TVL (Total Value Locked) increased by 3830.9% year-on-year, reaching $250 million. This indicates that even in a market environment with price fluctuations, real capital inflows on SEI are still significantly rising.

SEI的Defi生態系統正在經歷爆炸性的增長。根據Messari發布的第四季度數據報告，SEI在2024年第四季度的鏈交易量達到約10億美元，其中65％來自DEFI協議。 TVL（鎖定的總價值）同比增長3830.9％，達到2.5億美元。這表明，即使在價格波動的市場環境中，SEI的真正資本流入仍然顯著上升。

In terms of specific protocol performance, the DeFi activity in the SEI ecosystem continues to rise: DragonSwap: As the flagship DEX of the SEI ecosystem, its daily trading volume grew by 815.9% in Q4, surpassing $10.1 million, with market activity continuously climbing. Yei Finance: SEI's native lending protocol, which accounted for 88.7% of SEI's DeFi Active Addresses (DAA) in Q4, with a TVL exceeding 21 million SEI, becoming one of the largest DeFi platforms on the SEI chain. Pit Finance: As a yield aggregator, its TVL reached $12.3 million at the end of Q4, demonstrating strong capital attraction.

在特定的協議性能方面，SEI生態系統中的DEFI活動繼續上升：DragonsWap：隨著SEI生態系統的旗艦DEX，其日常交易量在第四季度增長了815.9％，超過了1,0010萬美元，市場活動不斷攀升。 YEI財務：SEI的本機貸款協議，佔SEI在第四季度的SEI Defi活動地址（DAA）的88.7％，TVL超過2100萬SEI，成為SEI鏈上最大的DEFI平台之一。維修區金融：作為收益機聚合，其TVL在第四季度結束時達到了1,230萬美元，表現出強大的資本吸引力。

It is worth noting that although SEI's token price fell by 14.4% in Q4, the TVL measured in SEI increased by 17.1%, indicating that more capital is continuously flowing into the SEI on-chain DeFi ecosystem.

值得注意的是，儘管SEI的代幣價格在第四季度下跌了14.4％，但在SEI中測量的TVL增加了17.1％，這表明更多的資本不斷流入SEI鍊鍊型生態系統。