随着美国公民选举共和党候选人唐纳德·特朗普，DeFi 代币上涨 25% 或更多，引发“DeFi 复兴”的希望

流动性质押领先者 Lido 的治理代币 LDO 在过去 24 小时内上涨了 40.3% 至 1.37 美元，使该加密货币的市值接近 12 亿美元。

Following the election of Republican candidate Donald Trump as the next president of the United States, DeFi tokens have surged, with many tokens jumping 25% or more amid hopes for a “DeFi Renaissance.”

共和党候选人唐纳德·特朗普当选美国下一任总统后，DeFi 代币价格飙升，许多代币在“DeFi 复兴”的希望下上涨了 25% 或更多。

The governance token for number one liquid staking service Lido, LDO, has increased 40.3% to $1.37 in the last 24 hours, bringing the cryptocurrency to a market cap of nearly $1.2 billion. The native tokens for Solana-based decentralized exchange Raydium and Ethereum-based exchange Uniswap have both jumped more than 30% to $4.30 and $9.49, respectively, in the same time period.

排名第一的流动性质押服务 Lido 的治理代币 LDO 在过去 24 小时内上涨了 40.3% 至 1.37 美元，使该加密货币的市值达到近 12 亿美元。同一时期，基于 Solana 的去中心化交易所 Raydium 和基于以太坊的交易所 Uniswap 的原生代币均上涨了 30% 以上，分别达到 4.30 美元和 9.49 美元。

Meanwhile, synthetic dollar provider Ethena’s governing token ENA has grown 35.7% to 47 cents, while top lending protocol by total value locked Aave has seen its token spring 28%. The number of deposits into lending protocols also reached a two-year high of $52.4 billion on Monday, data from blockchain analytics firm Artemis shows.

与此同时，合成美元提供商 Ethena 的管理代币 ENA 增长了 35.7%，达到 47 美分，而锁定总价值最高的借贷协议 Aave 的代币也增长了 28%。区块链分析公司 Artemis 的数据显示，周一借贷协议的存款数量也达到了两年来的最高点 524 亿美元。

With U.S. citizens electing Trump and more crypto-friendly representatives in the legislative branch, those in the DeFi ecosystem are optimistic for regulatory clarity.

随着美国公民选举特朗普和立法部门中更多对加密货币友好的代表，DeFi 生态系统中的人们对监管的明确性持乐观态度。

“The biggest Trump-specific change is likely to be a push for greater regulatory clarity around the broader crypto ecosystem, so we think altcoins could see meaningful outperformance as well,” wrote Seth Ginns, managing partner and head of liquid investments at CoinFund, in an email to Unchained.

CoinFund 管理合伙人兼流动性投资主管 Seth Ginns 写道：“特朗普特有的最大变化可能是推动更广泛的加密生态系统的监管更加明确，因此我们认为山寨币也可能会出现有意义的优异表现。”给 Unchained 的电子邮件。

According to Alexander Cutler, a core contributor of Aerdorome, a DEX on Coinbase-incubated L2 Base, the lack of legal and regulatory clarity has been one of the biggest limiting factors for the growth of DeFi. “The U.S. elections are seemingly sending a signal that a more amenable regulatory regime might be incoming,” Cutler added.

Coinbase 孵化的 L2 Base 上的 DEX Aerdorome 的核心贡献者 Alexander Cutler 表示，缺乏法律和监管明确性一直是 DeFi 发展的最大限制因素之一。卡特勒补充道：“美国大选似乎发出了一个信号，即可能会出现更顺从的监管制度。”

Under the Biden-Harris administration, the U.S. Securities and Exchange Commission chaired by Gary Gensler has been hostile to the crypto space, bringing a number of enforcement actions against several DeFi protocols. For example, the SEC not only gave a Wells notice to Uniswap Labs, notifying the firm of upcoming legal action, but the agency also implied in a suit against software developer Consensys that Lido’s liquid staking token stETH was an unregistered security.

在拜登-哈里斯政府领导下，由加里·詹斯勒 (Gary Gensler) 担任主席的美国证券交易委员会一直对加密货币领域充满敌意，对多个 DeFi 协议采取了一系列执法行动。例如，SEC 不仅向 Uniswap Labs 发出了 Wells 通知，通知该公司即将采取法律行动，而且该机构还在对软件开发商 Consensys 的诉讼中暗示，Lido 的流动质押代币 stETH 是一种未注册的证券。

Crypto participants anticipate Trump will fire Gensler, which “could provide guidance on how can DeFi protocols like Uniswap turn on their fee switch so that [it] can rebate protocol revenue to UNI token holders,” wrote Keyu Liu, an investor at crypto prop investment firm Primitive Ventures. Optimism about DeFi has improved because, with clearer guidance, builders can focus on the biggest problem for DeFi tokens which is their inability to redirect revenue to holders, per Liu.

加密货币参与者预计特朗普将解雇 Gensler，加密货币道具投资公司的投资者 Keyu Liu 写道，Gensler“可以为 Uniswap 等 DeFi 协议如何打开费用开关提供指导，以便将协议收入返还给 UNI 代币持有者”公司原始风险投资公司。 Liu 表示，人们对 DeFi 的乐观情绪有所改善，因为有了更清晰的指导，开发者可以专注于 DeFi 代币的最大问题，即他们无法将收入重新分配给持有者。

On Wednesday evening, crypto market maker and liquidity provider Wintermute created a governance proposal with the end goal of enabling an ENA fee switch. Ethena has generated $128.4 million in fees year-to-date, per Token Terminal.

周三晚上，加密货币做市商和流动性提供商 Wintermute 创建了一项治理提案，最终目标是启用 ENA 费用转换。年初至今，Ethena 已为每个令牌终端产生了 1.284 亿美元的费用。

Others, such as X users @degentradingLSD and @chainyoda, hope a new political atmosphere leads to a new ETH ETF with staking rewards. On Wednesday night, Coinbase protocol specialist Viktor Bunin wrote, that in light of a new political regime, crypto will “fire Gary,” “turn on staking in ETH ETFs,” and “shutter SEC lawfare investigations.”

其他人，例如 X 用户 @degentradingLSD 和 @chainyoda，希望新的政治氛围能够催生出具有质押奖励的新 ETH ETF。周三晚上，Coinbase 协议专家 Viktor Bunin 写道，鉴于新的政治政权，加密货币将“解雇加里”，“开启 ETH ETF 的质押”，并“终止 SEC 的法律调查”。

As to why people are excited about DeFi’s growth trajectory and ability to disrupt traditional finance, Aerodrome’s Cutler argues DeFi has “real undisputed product market fit, delivering institutional level products and services, without the value extraction of intermediaries. That creates a surplus of value that can be shared with users.”

至于为什么人们对 DeFi 的增长轨迹和颠覆传统金融的能力感到兴奋，Aerodrome 的卡特勒认为 DeFi 具有“真正无可争议的产品市场契合度，提供机构级别的产品和服务，无需中介机构的价值提取。这创造了可以与用户分享的剩余价值。”

“DeFi is so back. Ethereum holders became about $34 [billion] richer today. It matters because they’re not just buying DeFi tokens, but also using the protocols,” wrote Joseph Schiarizzi, founder of stablecoin provider Nerite, in a message to Unchained. “There’s more ETH in the protocols and that ETH is worth more. So buying DeFi tokens could be seen as getting beta on that.”

“DeFi 又回来了。今天，以太坊持有者的财富增加了约 340 亿美元。这很重要，因为他们不仅购买 DeFi 代币，还使用这些协议。”稳定币提供商 Nerite 的创始人 Joseph Schiarizzi 在给 Unchained 的消息中写道。 “协议中有更多的 ETH，而且 ETH 的价值也更高。因此，购买 DeFi 代币可能被视为获得了测试版。”

The total value locked in DeFi protocols currently stands at almost $89 billion, per DefiLlama.

据 DefiLlama 称，目前 DeFi 协议锁定的总价值接近 890 亿美元。