BFUSD：币安澄清了围绕其新的有奖励保证金资产的误解

币安最近解决了对其新资产 BFUSD 的广泛误解。 BFUSD 于 2024 年 11 月 18 日宣布，吸引了大量投资者

Binance has clarified that its new asset, BFUSD, is not a stablecoin and has not yet been launched. This comes after early reactions mistook the asset for a high-yield stablecoin, given its promising returns and the “USD” label.

币安已澄清其新资产 BFUSD 不是稳定币，尚未推出。鉴于其可观的回报和“美元”标签，早期反应将该资产误认为是高收益稳定币。

However, Binance has stated that BFUSD is a reward-bearing margin asset for futures trading.

不过，币安表示，BFUSD是用于期货交易的有奖励保证金资产。

In a post on social media platform X, Binance stated:

币安在社交媒体平台 X 上的一篇帖子中表示：

“BFUSD is not yet launched. To be clear, it is not a stablecoin but a reward-bearing margin asset for futures trading. We are glad to see the community’s interest and will share more details soon, including how APY is determined.”

“BFUSD 尚未推出。需要明确的是，它不是稳定币，而是用于期货交易的有奖励的保证金资产。我们很高兴看到社区的兴趣，并将很快分享更多细节，包括 APY 是如何确定的。”

BFUSD Not a Stablecoin, Set to Launch Soon

BFUSD 不是稳定币，即将推出

Binance's statement comes in response to widespread misconceptions about its new asset, which is yet to be launched.

币安的声明是为了回应对其尚未推出的新资产的广泛误解。

In a post on social media platform X, Binance stated:

币安在社交媒体平台 X 上的一篇帖子中表示：

“We're excited to introduce BFUSD, a new margin asset with an APY of 19.55%. Enjoy attractive high APY on your BFUSD holdings, surpassing the yields offered by many other stablecoins.”

“我们很高兴推出 BFUSD，这是一种新的保证金资产，年化收益率为 19.55%。您持有的 BFUSD 可以享受极具吸引力的高年化收益，超过许多其他稳定币提供的收益率。”

This statement, coupled with the high yield and the “USD” label, led to early reactions that mistook BFUSD for a high-yield stablecoin.

这一声明，加上高收益和“美元”标签，导致早期反应将 BFUSD 误认为是高收益稳定币。

However, Binance has clarified that BFUSD is a margin asset for futures trading, not a stablecoin. The company added that it will provide more details soon, including how the APY is determined.

不过，币安已澄清，BFUSD是用于期货交易的保证金资产，而不是稳定币。该公司补充说，它将很快提供更多细节，包括 APY 的确定方式。

High-Yield Margin Asset, Daily Rewards

高收益保证金资产，每日奖励

BFUSD acts as collateral for margin trading without the need for fund staking or lock-up periods. Users can receive rewards through daily airdrops, which are determined by hourly snapshots of their BFUSD holdings in the UM wallet. These rewards are then deposited into a UM Futures Wallet.

BFUSD 可作为保证金交易的抵押品，无需资金质押或锁定期。用户可以通过每日空投获得奖励，空投由他们在 UM 钱包中持有的 BFUSD 每小时快照决定。这些奖励随后存入 UM 期货钱包。

Despite the high yield, Binance has yet to fully explain how BFUSD will generate its 19.55% APY, leaving users speculating in the interim. The fine print on the BFUSD product page states, “Enjoy attractive high APY on your BFUSD holdings, surpassing the yields offered by many other stablecoins,” which has contributed to the initial confusion.

尽管收益率很高，但币安尚未完全解释 BFUSD 将如何产生 19.55% 的年化收益，让用户在此期间进行猜测。 BFUSD 产品页面上的细则指出，“在您持有的 BFUSD 上享受有吸引力的高年化收益，超过许多其他稳定币提供的收益率”，这导致了最初的混乱。

Industry Trends and Comparisons

行业趋势与比较

The launch of BFUSD follows a growing trend in the crypto space, where firms are offering high-yield tokens pegged to the US dollar but based on the traditional stablecoin model.

BFUSD 的推出遵循了加密货币领域的增长趋势，该领域的公司提供与美元挂钩但基于传统稳定币模型的高收益代币。

For example, BlackRock has introduced its BUIDL token. This on-chain money market fund invests in short-term US Treasury bills. Ethena has introduced USDe, a synthetic dollar that aims to keep its value stable through an automated delta-hedging approach.

例如，贝莱德推出了 BUIDL 代币。该链上货币市场基金投资于短期美国国债。 Ethena 推出了 USDe，一种合成美元，旨在通过自动 Delta 对冲方法保持其价值稳定。