Solana网络短暂地超过了以太坊的总价值，引发了关于它是看涨还是看跌的争论。

现在，从505938独特的钱包持有人的Solana网络上存放了价值超过539亿美元的SOL，他们将获得8.31％的年薪

Solana briefly surpassed Ethereum in total staked value of their respective native tokens, sparking debate over whether it is actually bullish or bearish for Solana.

索拉纳（Solana）短暂地超过了以太坊的全部代币价值，引发了关于索拉纳（Solana）是看涨还是看跌的辩论。

More than $53.9 billion worth of SOL is now staked on the Solana network from 505,938 unique wallet holders, who are making an 8.31% annualized return, blockchain data shows.

区块链数据显示，现在有505,938个独特的钱包持有人的Solana网络上，价值超过539亿美元的SOL被存放在索拉纳网络上，他们的年度返回8.31％。

The figure briefly overtook the staked ETH market cap on April 20, which now has $53.93 billion worth of value secured from 34.7 million staked tokens, Beaconcha.in data shows.

Beaconcha.in显示，该数字在4月20日短暂地超过了固定的ETH市值，该数据的价值从3,470万个固定令牌中获得了539.3亿美元的价值。

A contributing factor behind the flippening has been SOL’s strong price performance relative to ETH over the last two years, which has seen the SOL/ETH price ratio rise nearly tenfold from 0.0088 to 0.0866 since June 12, 2023, CoinGecko data shows.

Coingecko数据显示，在过去的两年中，SOL相对于ETH的价格表现强劲的原因是，自2023年6月12日以来，SOL/ETH价格比从0.0088的0.0088上涨了近十倍。

However, the “risk-free” 8.31% return for SOL stakers at the network level — significantly higher than ETH’s 2.98% — may be attracting Solana users away from DeFi activities, such as providing liquidity to automated market makers and lending protocols in exchange for token rewards.

但是，网络级别的SOL Stakers的“无风险”回报率为8.31％（明显高于ETH的2.98％）可能会吸引Solana用户脱离DEFI活动，例如向自动化的做市商提供流动性和贷款协议，以换取令牌Rewards。

“Solana having 65% of its marketcap staked means there's no other use of it’s token, it’s actually bearish,” Builda Protocol developer and X user “JC” said.

Builda协议开发商和X用户“ JC”说：“固定在其市场上的65％的索拉纳没有其他用途，实际上是看跌的。”

DefiLlama data shows that there are $21.5 billion worth of liquid staked ETH tokens on Ethereum compared to just $7.22 billion of liquid staked SOL on Solana.

Defillama的数据显示，以太坊上有价值215亿美元的液体固定ETH代币，而Solana上的液体固定溶胶仅为72.2亿美元。

Multicoin Capital managing partner Tushar Jain previously said that Solana DeFi has been stifled because it’s not rational to make an investment in something that produces a lower return than the “risk-free” investment.

Multicoin Capital管理合伙人Tushar Jain此前曾表示，Solana Defi被扼杀了，因为对产生比“无风险”投资的回报的投资是不合理的。

Ethereum also dominates in terms of DeFi total value locked at $50.4 million compared to Solana’s $8.85 billion.

以太坊还以锁定的总价值为5040万美元，而索拉纳（Solana）的88.5亿美元则占主导地位。

Industry pundits also pointed out that there are still far more validators securing the Ethereum network at 1.06 million compared to Solana’s 1,243.

行业专家还指出，与Solana的1,243相比，仍然有更多的验证者将以太坊网络确保为106万。

One Ethereum researcher said Solana staking isn’t really securing the Solana network because there isn’t a mechanism to penalize bad actors for malicious behavior.

一位以太坊研究人员说，索拉纳的股权并不是真正确保Solana网络的确保，因为没有机制来惩罚恶意行为的坏演员。

“It's very ironic to call it ‘staking’ when there is no slashing. What's at stake?” Dankrad Feist said in an April 20 X post.

“当没有削减时，称其为'Stage'是非常具有讽刺意味的。 Dankrad Feist在4月20日的帖子中说。

Solana Labs said slashing is already possible, but it’s not automatic, and the attacker’s assets can only be slashed by restarting the entire network.

Solana Labs说，已经进行了削减，但不是自动的，并且只能通过重新启动整个网络来削减攻击者的资产。

Solana is looking to roll out a more comprehensive slashing solution later this year, according to Multicoin Capital Managing Partner Kyle Samani.

据Multicoin Capital Capital Capital Contrand合作伙伴Kyle Samani称，Solana希望在今年晚些时候推出更全面的削减解决方案。

Solana Labs CEO Anatoly Yakovenko said he’s pushing for a “correlated slashing” mechanism, where the penalty would be equal to the square of the difference between a validator’s faulty stake in an epoch and the median network staked validator.

Solana Labs首席执行官Anatoly Yakovenko说，他正在推动“相关的削减”机制，在该机构中，罚款将等于验证者在时期股权和中间网络固定验证器中差异之间差异的平方。

Meanwhile, Ethereum developers and researchers have been exploring ways to decentralize Ethereum staking. Many Ethereum stakers have resorted to liquid staking protocols over the last few years due to the high 32 ETH minimum needed to run an independent validator. However, this shift has led to the Lido protocol capturing an 88% share in Ethereum’s liquid staking market, adding another layer to Ethereum’s staking centralization concerns.

同时，以太坊开发人员和研究人员一直在探索分散以太坊积分的方法。在过去的几年中，由于运行独立验证器所需的最低32个ETH，许多以太坊staker在过去的几年中诉诸液体均值方案。但是，这种转变导致了利多（Lido）协议，在以太坊的液体蒸发市场中占据了88％的份额，这为以太坊的积分集中化问题增加了另一层。

output: Solana briefly surpassed Ethereum in total staked value of their respective native tokens, sparking debate over whether it is actually bullish or bearish for Solana.

输出：Solana在其各自的本地令牌的总固定价值中短暂超过了以太坊，引发了关于Solana是看涨还是看跌的争论。

More than $53.9 billion worth of SOL is now staked on the Solana network from 505,938 unique wallet holders, who are making an 8.31% annualized return, blockchain data shows.

区块链数据显示，现在有505,938个独特的钱包持有人的Solana网络上，价值超过539亿美元的SOL被存放在索拉纳网络上，他们的年度返回8.31％。

The figure briefly overtook the staked ETH market cap on April 20, which now has $53.93 billion worth of value secured from 34.7 million staked tokens, Beaconcha.in data shows.

Beaconcha.in显示，该数字在4月20日短暂地超过了固定的ETH市值，该数据的价值从3,470万个固定令牌中获得了539.3亿美元的价值。

A contributing factor behind the flippening has been SOL’s strong price performance relative to ETH over the last two years, which has seen the SOL/ETH price ratio rise nearly tenfold from 0.0088 to 0.0866 since June 12, 2023, CoinGecko data shows.

Coingecko数据显示，在过去的两年中，SOL相对于ETH的价格表现强劲的原因是，自2023年6月12日以来，SOL/ETH价格比从0.0088的0.0088上涨了近十倍。

However, the “risk-free” 8.31% return for SOL stakers at the network level — significantly higher than ETH’s 2.98% — may be attracting Solana users away from DeFi activities, such as providing liquidity to automated market makers and lending protocols in exchange for token rewards.

但是，网络级别的SOL Stakers的“无风险”回报率为8.31％（明显高于ETH的2.98％）可能会吸引Solana用户脱离DEFI活动，例如向自动化的做市商提供流动性和贷款协议，以换取令牌Rewards。

“Solana having 65% of its marketcap staked means there's no other use of it’s token, it’s actually bearish,” Builda

“拥有65％的MarketCap储存的Solana意味着它没有其他用用的代币，实际上是看跌的，” Builda