Horizo​​n是AAVE Labs的一项倡议，提出了新的金融产品

Horizo​​n是AAVE实验室的一项倡议，提出了一项新的金融产品，将现实世界中的资产（RWAS）带入监管框架下的分散财务（DEFI）。

A new initiative called Horizon is proposing a financial product that would bring real-world assets (RWAs) into decentralized finance (DeFi) in a fully compliant manner.

一项名为Horizo​​n的一项新计划正在提议以完全合规的方式将现实世界中的资产（RWA）带入去中心化财务（DEFI）的金融产品。

The initiative, which would be a licensed instance of the Aave Protocol, is expected to generate new revenue streams for the Aave DAO, accelerate GHO adoption, and strengthen Aave’s role as a key player in the growing tokenized asset space.

该计划将是AAVE协议的许可实例，预计将为AAVE DAO，加速GHO采用，并增强AAVE作为日益增长的标记资产领域的关键参与者的作用。

The proposal, which is now being considered by the Aave DAO, aims to integrate institutions into a regulated but permissionless environment, enabling them to use tokenized money market funds (MMFs) as collateral to borrow stablecoins like USDC and Aave’s GHO.

该提案现在已被AAVE DAO考虑，旨在将机构纳入受监管但无许可的环境中，使他们能够使用令牌化的货币市场基金（MMF）作为抵押，以借用像USDC这样的Stablecoins和Aave的GHO。

This move would unlock liquidity for stablecoins and expand institutional access to DeFi, making it more accessible to regulated financial entities while benefiting the Aave ecosystem.

此举将解锁稳定币的流动性，并扩大对DEFI的机构访问，从而使受监管的金融实体更容易受益，同时使AAVE生态系统受益。

Institutions To Access Regulated But Permissionless Stablecoin Liquidity

访问受监管但无许可的Stablecoin流动性的机构

The interest comes amid accelerating institutional adoption. As reported by BeInCrypto, institutions are increasingly showing interest in crypto, especially in the wake of the latest Bitcoin ETF filings by major players like BlackRock (NASDAQ:BLK) and Franklin Templeton.

兴趣是在加速机构采用的情况下出现的。正如Beincrypto报道的那样，机构越来越表现出对加密货币的兴趣，尤其是在Blackrock（Nasdaq：BLK）和Franklin Templeton等主要参与者的最新比特币ETF文件之后。

This interest is also being driven by the potential of blockchain technology to enhance liquidity, reduce costs, and enable programmable transactions.

区块链技术的潜力增强流动性，降低成本和实现可编程交易的潜力也使这种兴趣驱动。

Moreover, tokenization on blockchain has made traditional assets more accessible on-chain, with tokenized US Treasuries growing by 408% year-over-year to reach $4 billion, according to the initiative's proposal.

此外，根据该计划的提议，该计划的提议称，区块链的令牌化使传统资产更加容易获得链，并根据该计划的提议称，美国的美国国债同比增长408％，达到40亿美元。

Subject to approval by the Aave DAO, Horizon’s RWA product will initially launch as a licensed instance of Aave V3. Later, it would transition to a custom deployment of Aave V4 when it becomes available.

在获得AAVE DAO的批准下，Horizo​​n的RWA产品最初将作为AAVE V3的许可实例推出。后来，它将在可用时过渡到AAVE V4的自定义部署。

According to the proposal, Horizon has proposed a structured profit-sharing mechanism to ensure long-term alignment with the Aave DAO.

根据该提案，Horizo​​n提出了一种结构化的利润分享机制，以确保与AAVE DAO的长期保持一致。

"This structure includes a 50% revenue share to Aave DAO in Year 1, alongside strategic incentives to drive ecosystem growth," the proposal, which was shared with BeInCrypto, adds.

该提案与Beincrypto共享。“这种结构在第1年包括50％的收入份额，以及推动生态系统增长的战略激励措施。”

Additionally, if Horizon launches its token, 15% of its supply will be allocated to the Aave DAO treasury and ecosystem incentives. A portion will also be set aside for staked AAVE holders.

此外，如果Horizo​​n推出了代币，则其供应量的15％将分配给AAVE DAO财政部和生态系统激励措施。一部分还将用于固定的ave持有者。

The proposal comes as the rise of RWAs is transforming the financial playing field, and institutions are taking note. Tokenized assets are emerging as a bridge between traditional finance (TradFi) and DeFi, providing investors new opportunities to access yield-bearing assets. Key players include BlackRock (BUILD), Franklin Templeton, and Grayscale.

该提案是随着RWAS的兴起正在改变金融竞争环境，机构正在注意。令牌资产正在作为传统金融（Tradfi）和Defi之间的桥梁出现，为投资者提供了新的机会来获取承重资产。关键参与者包括贝莱德（Build），富兰克林·邓普顿（Franklin Templeton）和灰度。

However, DeFi’s open and permissionless nature poses regulatory challenges. It lacks the compliance frameworks required for large-scale institutional participation.

但是，Defi的开放和无许可的性质构成了监管挑战。它缺乏大规模机构参与所需的合规框架。

This limits the potential for institutions to contribute to the DeFi ecosystem despite the demand for yield and liquidity management in the decentralized space.

这限制了机构在分散空间中对产量和流动性管理的需求和流动性管理的需求，从而限制了机构为偏见生态系统做出贡献的潜力。

As such, institutional adoption remains limited without tailored solutions, and integrating RWAs into DeFi at scale presents a significant challenge.

因此，机构采用在没有量身定制的解决方案的情况下仍然有限，并且将RWAS纳入DEFI，提出了一个重大挑战。

Horizon seeks to bridge this gap by allowing institutions to access permissioned stablecoin liquidity. It will also meet the compliance and risk management requirements of asset issuers.

Horizo​​n试图通过允许机构获得许可的Stablecoin流动性来弥合这一差距。它还将满足资产发行人的合规性和风险管理要求。

Tokenized asset issuers can enforce transfer restrictions and maintain asset-level controls. According to the announcement, this would ensure only qualified users can borrow USDC and GHO.

令牌资产发行人可以执行转移限制并维护资产级控制。根据公告，这将确保只有合格的用户才能借入USDC和GHO。

“A separate GHO Facilitator will enable GHO minting with RWA collateral, offering predictable borrowing rates optimized for institutions. This enhances security, scalability, and institutional adoption of RWAs in DeFi,” the proposal adds.

“一个单独的GHO促进者将通过RWA抵押品实现GHO铸造，从而为机构提供了可预测的借贷率。这提高了RWA在DEFI中的安全性，可伸缩性和机构采用。”该提议补充说。

The proposed product builds on the institutional framework established by Aave Arc. To ensure a smooth integration, Horizon will implement a permissioned token supply. It will also feature withdrawal mechanisms, stablecoin borrowing for qualified users, and permissioned liquidation workflows.

拟议的产品建立在AAVE ARC建立的机构框架上。为了确保平稳的集成，Horizo​​n将实施许可的令牌供应。它还将采用戒断机制，合格用户的稳定机制以及允许的清算工作流程。

The initiative is expected to enhance the security, scalability, and institutional

该计划有望提高安全性，可扩展性和机构