Chainlink 的 TVS 飙升至 $25B：胜利还是误报？

Has Chainlink's TVS Been on a Winning Streak?

Chainlink 的 TVS 一直在连胜吗？

Chainlink's Total Value Secured (TVS), a measure of the total value protected by its oracle networks, has surged to a lofty $25 billion, leaving its competitors in the dust. But hold your horses, folks. This figure is still a far cry from its $60 billion peak. Still, this recent uptick is a testament to the growing traction of decentralized finance (DeFi) across various blockchains.

Chainlink 的总价值保护 (TVS)（衡量其预言机网络保护的总价值的指标）已飙升至 250 亿美元，将其竞争对手远远甩在身后。但是，伙计们，别着急。这个数字与 600 亿美元的峰值仍相去甚远。尽管如此，最近的上涨证明了去中心化金融（DeFi）在各种区块链上的吸引力日益增强。

What's the Deal with TVS?

TVS 是怎么回事？

TVS is the sum of all Total Value Locked (TVL) in protocols and platforms that rely on oracles to secure their precious user funds. Think of it as a gigantic pool of money, with each protocol dipping into it like little kids with their tiny cups. The more protocols that tap into an oracle network, the higher its TVS.

TVS 是依赖预言机来保护其宝贵用户资金的协议和平台中所有锁定总价值 (TVL) 的总和。把它想象成一个巨大的资金池，每个协议都像拿着小杯子的小孩子一样投入其中。接入预言机网络的协议越多，其 TVS 就越高。

Exception to the Rule

规则的例外情况

But don't get too excited just yet. TVS calculations have their quirks. Some DeFi protocols offer a buffet of financial services, not all of which require the watchful eyes of an oracle. In these cases, only the funds protected by oracles earn a spot on the TVS leaderboard.

但现在先不要太兴奋。 TVS 计算有其特殊之处。一些 DeFi 协议提供自助式金融服务，并非所有服务都需要预言机的密切关注。在这些情况下，只有受预言机保护的资金才能在 TVS 排行榜上占据一席之地。

Blockchain Breakdown

区块链细分

A closer look at Chainlink's TVS reveals that Ethereum is the reigning champ, fueling most of the recent growth. Despite its hefty transaction fees and occasionally clunky user experience, Ethereum remains the DeFi go-to. And let's not forget the recent bull run in asset prices, which has also contributed to the TVS surge.

仔细观察 Chainlink 的 TVS 就会发现，以太坊是卫冕冠军，推动了近期增长的大部分。尽管交易费用高昂且用户体验有时也很糟糕，但以太坊仍然是 DeFi 的首选。我们不要忘记最近资产价格的牛市，这也导致了 TVS 的飙升。

Ethereum's Absence

以太坊的缺席

Interestingly, Ethereum's TVS figures don't include the data feed for MakerDAO, which is provided by its native Chronicle oracle. This exclusion is a reminder that even the most dominant chains have their own oracle dynamics.

有趣的是，以太坊的 TVS 数据不包括 MakerDAO 的数据源，该数据源由其原生 Chronicle 预言机提供。这种排除提醒我们，即使是最具主导地位的区块链也有自己的预言机动态。

Arbitrum's Rise

Arbitrum 的崛起

Arbitrum has been making waves as a Layer 2 solution on Ethereum, and its Chainlink TVS has mirrored that trajectory, rising from zero in 2021 to a respectable $2.5 billion today. Its popularity among developers and DeFi teams is a testament to its growing importance in the Ethereum ecosystem.

Arbitrum 作为以太坊上的第 2 层解决方案一直在掀起波澜，其 Chainlink TVS 也反映了这一轨迹，从 2021 年的零上升到今天的 25 亿美元。它在开发者和 DeFi 团队中的受欢迎程度证明了它在以太坊生态系统中日益增长的重要性。

Smaller Players Make a Mark

规模较小的玩家留下了印记

Base and Gnosis have also made notable contributions to Chainlink's TVS. Coinbase's new platform has hit an all-time high of around $200 million in TVS, while Gnosis has reached $90 million, largely thanks to the Maker DAO Spark protocol.

Base 和 Gnosis 也为 Chainlink 的 TVS 做出了显着的贡献。 Coinbase 的新平台 TVS 创下了约 2 亿美元的历史新高，而 Gnosis 则达到了 9000 万美元，这在很大程度上要归功于 Maker DAO Spark 协议。

Modest Growth Elsewhere

其他地区适度增长

BSC, Polygon, Avalanche, and Optimism have seen a more modest TVS growth since the start of 2024, suggesting that DeFi expansion is not as widespread across these chains. Fantom, in particular, has seen virtually no movement.

自 2024 年初以来，BSC、Polygon、Avalanche 和 Optimism 的 TVS 增长​​较为温和，这表明 DeFi 扩张在这些链中并不普遍。尤其是 Fantom，几乎没有看到任何动静。

Tron and Solana Dance to Their Own Tunes

Tron 和 Solana 按照自己的曲调起舞

Tron, the second largest EVM-compatible blockchain, is noticeably absent from Chainlink's radars. This is because WinkLink oracle dominates that chain. Solana, on the other hand, has seen a muted TVS with Chainlink, despite its reputation for innovation. Pyth, Switchboard, and Dia currently hold sway over Solana's oracle landscape.

Tron 作为第二大 EVM 兼容区块链，明显没有出现在 Chainlink 的雷达中。这是因为 WinkLink 预言机主导了该链。另一方面，尽管 Solana 以创新着称，但 Chainlink 的 TVS 却表现平平。 Pyth、Switchboard 和 Dia 目前在 Solana 的预言机领域占据主导地位。

Low TVS: Not Always a Sign of Inactivity

TVS 低：并不总是不活动的迹象

A low Chainlink TVS doesn't necessarily mean that a blockchain is dead in the water. Some chains, like Tron, may have their own oracle solutions. Still, Chainlink's dominance in the oracle market makes its TVS distribution a valuable barometer for the health of the DeFi sector.

Chainlink TVS 较低并不一定意味着区块链已经死了。一些链，比如 Tron，可能有自己的预言机解决方案。尽管如此，Chainlink 在预言机市场的主导地位使其 TVS 分布成为 DeFi 领域健康状况的宝贵晴雨表。