Ethena 大胆的新提案中选择 Solana (SOL) 进行 USDe 扩张

Ethena 社区发起了一项提案，将 Solana 的原生代币 SOL 整合为 USDe 的支持资产。这是 Ethena 当前比特币和以太坊永续期货对冲机制的补充。

Solana’s SOL Token to Back USDe Stablecoin In a recent development within the Ethena community, a proposal has been put forth to integrate Solana’s native token, SOL, into the Ethena ecosystem. This move aims to add SOL as a backing asset for the USDe stablecoin.

Solana 的 SOL 代币支持 USDe 稳定币 在 Ethena 社区最近的一项发展中，提出了一项提案，将 Solana 的原生代币 SOL 集成到 Ethena 生态系统中。此举旨在将 SOL 添加为 USDe 稳定币的支持资产。

Currently, Ethena employs a hedging mechanism for Bitcoin and Ethereum perpetual futures to generate revenue for the USDe stablecoin. This proposal seeks to expand Ethena's hedging strategy by incorporating one of the fastest-growing ecosystems in the crypto space - Solana.

目前，Ethena 采用比特币和以太坊永续期货的对冲机制，为 USDe 稳定币创造收入。该提案旨在通过纳入加密货币领域增长最快的生态系统之一 - Solana 来扩展 Ethena 的对冲策略。

However, the inclusion of SOL as a backing asset will be implemented gradually, considering its relatively shorter trading history and lower liquidity compared to BTC and ETH.

不过，考虑到与 BTC 和 ETH 相比，SOL 的交易历史相对较短且流动性较低，因此将逐步纳入 SOL 作为支持资产。

According to the proposal, SOL boasts an impressive $2 billion of open interest across major venues. This presents an attractive opportunity for Ethena to increase its revenue through favorable funding conditions.

根据该提案，SOL 在主要场馆拥有高达 20 亿美元的未平仓合约。这为 Ethena 提供了一个通过有利的融资条件增加收入的诱人机会。

Liquid Staked SOL Tokens to Be Included The proposal also includes adding liquid staked SOL tokens, such as BNSOL and bbSOL, to the SOL allocation. This will follow a similar setup to how ETH liquid staking tokens are integrated into Ethena’s ETH allocation.

纳入流动质押 SOL 代币 该提案还包括在 SOL 分配中添加流动质押 SOL 代币，例如 BNSOL 和 bbSOL。这将遵循与 ETH 流动质押代币如何集成到 Ethena 的 ETH 分配中类似的设置。

The proposal caps the SOL LSTs at one-third of the total SOL allocation. If approved, this expansion could unlock an additional $2-3 billion in open interest. This, in turn, could help scale Ethena's USDe from its current supply of $2.5 billion to meet the growing demand.

该提案将 SOL LST 的上限限制为 SOL 分配总量的三分之一。如果获得批准，此次扩张可能会释放额外 2-30 亿美元的未平仓合约。反过来，这可能有助于扩大 Ethena 的 USDe 当前 25 亿美元的供应量，以满足不断增长的需求。

Ethena's Risk Committee will vote on integrating SOL and its staked variants into the Ethena protocol over the next seven days. A unanimous vote is required for the integration to proceed.

Ethena 的风险委员会将在未来 7 天内投票决定将 SOL 及其质押变体整合到 Ethena 协议中。整合需要一致投票才能继续进行。

If approved, Ethena, similar to its BTC and ETH integrations, could command 5-10% of SOL’s open interest. This integration will increase Ethena's market presence, enhance its profitability, and bolster the standing of USDe within the crypto ecosystem.

如果获得批准，Ethena 与其 BTC 和 ETH 集成类似，可以控制 SOL 未平仓合约的 5-10%。此次整合将增加 E​​thena 的市场占有率，提高其盈利能力，并巩固 USDe 在加密生态系统中的地位。

Ethena's strategy highlights the rising prominence of Solana, which is vying with Ethereum on parameters like speed, scalability, and lower costs.Solana’s Dominance in Web3

Ethena 的战略凸显了 Solana 日益突出的地位，它正在与以太坊在速度、可扩展性和低成本等参数上展开竞争。Solana 在 Web3 中的主导地位

Solana, powered by its unique Proof of History algorithm, facilitates low latency and cost-efficient transactions, presenting a viable alternative to Ethereum. This scalability has enabled Solana to capture a large market share in Web3, owing to its growing popularity among developers and users.

Solana 由其独特的历史证明算法提供支持，可促进低延迟和经济高效的交易，为以太坊提供了可行的替代方案。由于其在开发人员和用户中的日益普及，这种可扩展性使 Solana 能够在 Web3 中占据大量市场份额。

Recent figures indicate that Solana currently controls 35% of the Web3 market, trailing closely behind Ethereum's 45%, with a 10% gap. In the previous quarter, Solana led all L1 chains with a net inflow of $1 billion in bridged assets.

最近的数据显示，Solana 目前控制着 Web3 市场的 35%，紧随以太坊的 45%，差距为 10%。上一季度，Solana 以 10 亿美元的桥接资产净流入领先所有 L1 链。

This growth showcases Solana's rising clout, positioning it as a major competitor to Ethereum's long-standing dominance in the Web3 space.

这一增长展示了 Solana 日益增长的影响力，使其成为以太坊在 Web3 领域长期主导地位的主要竞争对手。

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