Ethena Labs 和 Securitize 提议为 Spark 的 10 亿美元代币化大奖赛提供 USDtb 稳定币

10 亿美元代币化大奖赛旨在通过向选定的参与者提供流动性，将现实世界资产 (RWA) 引入 DeFi

Ethena Labs and tokenization platform Securitize have jointly submitted a proposal to integrate Ethena’s new stablecoin, USDtb, into Spark's $1 billion Tokenization Grand Prix.

Ethena Labs 和代币化平台 Securitize 联合提交了一份提案，将 Ethena 的新稳定币 USDtb 纳入 Spark 的 10 亿美元代币化大奖赛。

The competition aims to onboard real-world assets (RWAs) into DeFi by providing liquidity to selected participants, expanding the range of tokenized assets in decentralized ecosystems.

该竞赛旨在通过向选定的参与者提供流动性，扩大去中心化生态系统中代币化资产的范围，将现实世界资产（RWA）引入 DeFi。

Ethena and Securitize's proposal centers around a unique swap facility between USDtb and Ethena’s synthetic stablecoin, USDe. This innovation will enable participants in the Sky ecosystem (formerly MakerDAO) to dynamically adjust liquidity and risk based on market conditions and interest rate trends.

Ethena 和 Securitize 的提案围绕 USDtb 和 Ethena 的合成稳定币 USDe 之间的独特互换设施。这项创新将使 Sky 生态系统（以前称为 MakerDAO）的参与者能够根据市场状况和利率趋势动态调整流动性和风险。

Ethena's substantial contribution to the Sky ecosystem, generating nearly $120 million in annual revenue, positions USDtb to bolster USDe's performance, especially during challenging funding conditions, by enabling dynamic adjustments to its backing composition.

Ethena 对 Sky 生态系统做出了巨大贡献，产生了近 1.2 亿美元的年收入，通过动态调整其支持构成，USDtb 能够增强 USDe 的业绩，特别是在融资条件充满挑战的情况下。

Set to launch next week, USDtb is backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), a tokenized US Treasury fund on the Ethereum blockchain. With over $533 million in tokenized assets under management, BUIDL provides a unique foundation for USDtb, presenting an alternative risk profile compared to USDe.

USDtb 将于下周推出，并得到贝莱德美元机构数字流动性基金 (BUIDL) 的支持，该基金是以太坊区块链上的代币化美国财政部基金。 BUIDL 管理着超过 5.33 亿美元的代币化资产，为 USDtb 提供了独特的基础，与 USDe 相比，呈现出另一种风险状况。

While USDe utilizes derivative hedging strategies and is subject to cryptocurrency market fluctuations, USDtb's backing by traditional financial instruments offers a more conservative option.

虽然 USDe 采用衍生品对冲策略并受到加密货币市场波动的影响，但 USDtb 由传统金融工具的支持提供了更保守的选择。

The proposal will be evaluated by a panel that includes Phoenix Labs and Steakhouse Financial based on criteria such as liquidity, pricing competitiveness, and alignment with Spark's strategic objectives. Ultimately, Sky tokenholders will decide on the final selection through a governance vote.

该提案将由由 Phoenix Labs 和 Steakhouse Financial 组成的小组根据流动性、定价竞争力以及与 Spark 战略目标的一致性等标准进行评估。最终，Sky 代币持有者将通过治理投票来决定最终选择。