加密风暴海洋中的锚

在比特币一天内可以收益或损失数千美元的市场中，Stablecoins提供了一个可预测性的岛屿。

In a market where Bitcoin can gain or lose thousands of dollars in a single day, stablecoins offer an island of predictability. These digital assets are designed to maintain a steady value—typically pegged to $1 USD—allowing users to navigate the crypto ecosystem without constantly worrying about price volatility.

在比特币一天内可以收益或损失数千美元的市场中，Stablecoins提供了一个可预测性的岛屿。这些数字资产旨在保持稳定的价值（通常是固定在$ 1美元上），使用户可以导航加密生态系统，而不必不断担心价格波动。

Since their introduction, stablecoins have transformed from simple dollar substitutes to fundamental components of the crypto economy. Today, they facilitate trading, provide on-ramps between traditional and digital finance, power lending protocols, and even serve as inflation hedges in countries with unstable currencies.

自引入以来，Stablecoins已从简单的美元替代品转变为加密经济的基本组成部分。如今，它们促进了交易，提供传统和数字融资之间的坡道，电力贷款协议，甚至是货币不稳定国家的通货膨胀对冲。

This comprehensive guide will take you through everything you need to know about stablecoins—from their basic functionality to advanced strategies for maximizing their utility in your crypto journey.

该综合指南将带您了解有关Stablecoins所需的一切 - 从它们的基本功能到高级策略，以最大程度地利用其在加密之旅中的实用性。

What Are Stablecoins?

什么是Stablecoins？

Stablecoins are cryptocurrencies that aim to remain linked to another asset’s price, most commonly the US dollar. Unlike Bitcoin or Ethereum, whose prices can fluctuate dramatically, stablecoins are designed to consistently trade at or very near their target price, typically $1.

稳定币是加密货币，旨在保持与另一资产的价格相关，最常见的是美元。与比特币或以太坊不同，其价格可能会显着波动，而Stablecoins的设计旨在以其目标价格（通常为1美元）始终如一地交易或接近其目标价格。

Think of stablecoins as digital representations of traditional currencies operating on blockchain technology. They combine the stability of fiat money with the speed, programmability, and global accessibility of cryptocurrencies.

将Stablecoins视为在区块链技术上运行的传统货币的数字表示。他们将法定资金的稳定性与加密货币的速度，可编程性和全球可及性相结合。

Why Stablecoins Matter

为什么稳定剂很重要

In essence, stablecoins solve one of cryptocurrency’s biggest challenges: price volatility. This stability enables several crucial functions:

本质上，Stablecoins解决了加密货币最大的挑战之一：价格波动。这种稳定性实现了几个关键功能：

Types of Stablecoins

稳定的类型

Not all stablecoins work the same way. Their stability mechanisms fall into several distinct categories:

并非所有的稳定剂都以相同的方式工作。它们的稳定机制属于几个不同的类别：

1. Fiat-Collateralized Stablecoins

1。菲亚特 - 合成的稳定剂

These stablecoins are backed by reserves of fiat currency held by the issuing organization. For every token in circulation, the equivalent amount of dollars (or other currency) is supposedly held in reserve.

这些Stablecoins得到了发行组织持有的法定货币储备的支持。对于每一个流通的代币，据说等效的美元（或其他货币）都在储备金中持有。

Examples: USDT (Tether), USDC (USD Coin)

示例：USDT（系绳），USDC（USD硬币）

USDT/USD chart since May 2022 - TradingView

自2022年5月以来

How they work: When you purchase one USDC, for instance, Circle (the issuer) adds $1 to its reserves. When you redeem your USDC, they remove $1 from those reserves and burn the token.

它们的工作方式：例如，当您购买一个USDC时，Circle（发行人）为其储备金增加了$ 1。当您赎回您的USDC时，他们会从这些储备中删除1美元并燃烧令牌。

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2. Crypto-Collateralized Stablecoins

2。加密合并的稳定剂

These stablecoins are backed by other cryptocurrencies, typically with over-collateralization to account for potential price drops in the collateral.

这些稳定的稳定性得到了其他加密货币的支持，通常会过度包装，以说明抵押品的潜在价格下跌。

Examples: DAI, MIM (Magic Internet Money)

示例：DAI，MIM（魔术互联网钱）

How they work: To create $100 worth of DAI, a user might deposit $150 worth of Ethereum into a smart contract. This over-collateralization helps maintain the peg even if Ethereum’s price drops.

他们的工作方式：要创建价值100美元的DAI，用户可能会将价值150美元的以太坊存入智能合约。即使以太坊的价格下跌，这种过度的化身有助于维持PEG。

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3. Algorithmic Stablecoins

3。算法稳定

These stablecoins use algorithms and smart contracts to automatically control the supply, attempting to maintain a stable value without direct collateral.

这些Stablecoins使用算法和智能合约自动控制供应，试图在没有直接抵押的情况下保持稳定的价值。

Examples: Frax (partially algorithmic), Ethena's USDe

示例：Frax（部分算法），Ethena的USDE

How they work: When the price exceeds $1, the protocol increases token supply to reduce price. When the price falls below $1, it decreases supply to raise price.

它们的工作方式：当价格超过1美元时，协议会增加令牌供应以降低价格。当价格低于1美元时，它会降低供应量以提高价格。

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