区块链上代币化的美国国债突破 10 亿美元里程碑

作为加密货币市场的一个重要里程碑，各种公共区块链上代币化的美国国库券的价值已超过 10 亿美元。代币化的激增凸显了传统金融机构越来越多地采用区块链技术。投资公司富兰克林邓普顿（Franklin Templeton）带头通过其富兰克林链上美国政府货币基金（Franklin OnChain U.S. Government Money Fund）将 3.601 亿美元的资产代币化。此外，PayPal 的 PYUSD 稳定币流通量下降，而 SushiSwap 计划实施“实验室模式”，美国证券交易委员会推迟了纽约证券交易所比特币 ETF 期权的批准。

Tokenized Treasury Notes Surpass $1 Billion Milestone on Public Blockchains

公共区块链上的代币化国库券突破 10 亿美元里程碑

The tokenization of U.S. Treasury notes, a significant development in the cryptocurrency market, has reached a notable milestone, with a total value exceeding $1 billion across numerous public blockchains. This trend reflects the growing adoption of blockchain technology by traditional financial institutions.

美国国债的代币化是加密货币市场的一项重大发展，已经达到了一个显着的里程碑，众多公共区块链的总价值​​超过 10 亿美元。这一趋势反映出传统金融机构越来越多地采用区块链技术。

Data compiled by 21.co and Dune Analytics indicates that tokenized government securities are now distributed across a diverse range of 17 products, primarily based on the Ethereum, Polygon, and Stellar networks.

21.co 和 Dune Analytics 汇编的数据表明，代币化政府证券现在分布在 17 种不同的产品中，主要基于以太坊、Polygon 和 Stellar 网络。

Franklin Templeton Leads the Charge

富兰克林邓普顿引领潮流

Investment firm Franklin Templeton has assumed a leading role in this arena, having tokenized over $360.1 million in assets through its Franklin OnChain U.S. Government Money Fund, leveraging both the Polygon and Stellar blockchains.

投资公司富兰克林邓普顿在这一领域发挥了主导作用，利用 Polygon 和 Stellar 区块链，通过其 Franklin OnChain 美国政府货币基金对超过 3.601 亿美元的资产进行了代币化。

Paul Wong, Director of Product, CBDCs, and Institutions at the Stellar Foundation, attributes the surge in tokenized treasuries to an increasing awareness among asset issuers of the business potential inherent in blockchain technology.

Stellar 基金会产品、CBDC 和机构总监 Paul Wong 将代币化国库券的激增归因于资产发行者对区块链技术固有的商业潜力的认识不断增强。

"Blockchain is here to stay and is the future," Wong asserts. "We anticipate exponential growth in tokenization over the next few years."

“区块链将继续存在，并且是未来，”Wong 断言。 “我们预计未来几年代币化将呈指数级增长。”

Stellar Blockchain Emerges as Tokenization Hub

恒星区块链成为代币化中心

Stellar's blockchain has established itself as a prominent player in the tokenization space. Tokenized securities constitute the most significant asset class on the network, with a total tokenized market cap exceeding $430 million as of late March.

Stellar 的区块链已成为代币化领域的重要参与者。代币化证券构成了网络上最重要的资产类别，截至 3 月底，代币化总市值超过 4.3 亿美元。

PayPal Stablecoin Faces Circulation Decline

PayPal 稳定币面临流通量下降

In a contrasting development, PYUSD, PayPal's stablecoin, experienced a sharp 38% decline in circulation during March, reaching a level of $188.5 million. This reversal follows the stablecoin's initial surge in early 2024, which witnessed its market value doubling within a month by mid-January.

与此形成鲜明对比的是，PayPal 的稳定币 PYUSD 3 月份的流通量急剧下降 38%，达到 1.885 亿美元的水平。这一逆转是在该稳定币于 2024 年初首次飙升之后出现的，截至 1 月中旬，其市值在一个月内翻了一番。

According to CoinGecko data, PYUSD's market capitalization has been on a downward trajectory since late February despite the early gains. It reached an all-time high of $312 million on February 26. As of March 29, the PYUSD Treasury held $14.9 million in U.S. Treasury bonds.

根据 CoinGecko 数据，尽管早期有所上涨，但自 2 月下旬以来，PYUSD 的市值一直处于下降轨道。 2月26日达到3.12亿美元的历史新高。截至3月29日，PYUSD财政部持有1490万美元的美国国债。

SushiSwap Embraces "Labs Model"

SushiSwap拥抱“实验室模式”

Decentralized exchange SushiSwap has received positive feedback from its community to transition to a less decentralized "Labs model." In a preliminary vote, over 62% of voters approved this shift, which will result in the creation of Sushi Labs, an autonomous entity responsible for overseeing the ecosystem's administrative, technical, and operational aspects.

去中心化交易所 SushiSwap 已收到社区的积极反馈，希望过渡到去中心化程度较低的“实验室模式”。在初步投票中，超过 62% 的选民批准了这一转变，这将导致 Sushi Labs 的创建，这是一个负责监督生态系统的管理、技术和运营方面的自治实体。

Under the proposed structure, token holders would retain influence over treasury allocations but would no longer participate in the decision-making process for operations. The new entity would also receive 25 million SushiSwap (SUSHI) tokens, currently valued at approximately $39 million, as well as future airdrops from affiliated protocols and partners.

根据拟议的结构，代币持有者将保留对财务分配的影响力，但将不再参与运营决策过程。新实体还将获得 2500 万个 SushiSwap (SUSHI) 代币（目前价值约 3900 万美元），以及来自附属协议和合作伙伴的未来空投。

Some members of the Sushi community have expressed concerns that this move signifies a departure from the project's decentralized principles.

Sushi 社区的一些成员表示担心，此举意味着背离该项目的去中心化原则。

SEC Delays Bitcoin ETF Options Approval

美国证券交易委员会 (SEC) 推迟批准比特币 ETF 期权

In a regulatory development, the Securities and Exchange Commission (SEC) has deferred a decision on whether to allow the NYSE to offer options for trading with ETFs that track Bitcoin. This decision impacts trading on the New York Stock Exchange for the Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, and other Bitcoin trusts.

在监管进展中，美国证券交易委员会 (SEC) 推迟了是否允许纽约证券交易所提供追踪比特币 ETF 交易选项的决定。这一决定影响了纽约证券交易所 Bitwise 比特币 ETF、灰度比特币信托和其他比特币信托的交易。

The SEC has also rejected Nasdaq's application to trade options on BlackRock's iShares Bitcoin Trust. May 29 is the next deadline for decisions regarding the NYSE's plan.

美国证券交易委员会还拒绝了纳斯达克在贝莱德 iShares 比特币信托上交易期权的申请。 5 月 29 日是纽约证券交易所计划做出决定的下一个截止日期。

Conclusion

结论

This week's Crypto Biz highlights the dynamic shifts and evolving landscape of the blockchain and cryptocurrency ecosystems. The SEC's delay in approving Bitcoin ETF options, SushiSwap's move to a "Labs model," and the rise in tokenization of traditional assets all demonstrate the industry's ongoing maturation.

本周的《加密货币商业》重点介绍了区块链和加密货币生态系统的动态变化和不断发展的格局。美国证券交易委员会推迟批准比特币 ETF 期权、SushiSwap 转向“实验室模式”以及传统资产代币化的兴起都表明该行业正在走向成熟。

Concurrently, the fluctuating fortunes of PayPal's stablecoin underscore the ongoing integration of blockchain technology

与此同时，PayPal稳定币的波动性凸显了区块链技术的持续整合