VE Tokenomics：现金流驱动的增长

Vechain的标记学枢纽是真正的现金流，正在改变DEFI的游戏规则。诸如VTHO奖励的积分激励措施和代表们的通货膨胀率削减了72.2％

In the constantly evolving landscape of decentralized finance (DeFi), the pursuit of sustainable revenue models has taken center stage. As protocols explore diverse avenues to generate and retain cash flow, their tokenomics and overall health are closely scrutinized.

在不断发展的分散财务（DEFI）的不断发展的景观中，追求可持续收入模式已成为中心阶段。随着协议探索产生和保留现金流的各种途径，他们的令牌学和整体健康受到了仔细的审查。

While Uniswap, the leading decentralized exchange, has seen transactional activity ebb and flow, another protocol, codenamed VE Token, has adjusted its strategy to focus on real-world utility and partnerships.

虽然领先的分散交易所Uniswap看到了交易活动潮流和流动，但另一种代号为VE代币的协议已调整了其策略，以关注现实世界实用程序和合作伙伴关系。

This divergence in approach has resulted in varying degrees of success, highlighting the crucial role of tokenomics in a protocol’s long-term resilience.

方法上的这种差异导致了不同程度的成功程度，突出了令牌学在协议的长期弹性中的关键作用。

As crypto protocols adjust to a new era of cash flow-driven tokenomics, the implications for the broader DeFi ecosystem are significant.

随着加密协议适应现金流动驱动的代币学的新时代，对更广泛的Defi生态系统的影响是重要的。

With a focus on real-world utility through enterprise partnerships and a triple-digit reduction in inflation from 2024 levels, codenamed VE Token’s tokenomics have evolved differently compared to protocols focused on protocol-level fees.

通过企业合作伙伴关系，重点关注现实世界的实用程序，并从2024年的级别降低了通货膨胀的三位数，因此与集中在协议级费用的协议相比，代码为ve ve ve ve ve ve ve ve ve ve ve ve ve ve ve ve ve ve ve。

The codenamed VE Token model, with its emphasis on staking incentives and a dual-token system, aims for sustained growth potential.

代号为VE代币模型，其重点是放置激励措施和双重系统，旨在持续增长潜力。

In the case of codenamed VE Token, the protocol’s strategy of slashing inflation by 72.2% through VTHO rewards for validators and delegators has contributed to a 650% surge in total value locked (TVL) from 2024 levels.

对于代号为VE代币的情况，该协议通过VTHO奖励将通货膨胀率削减72.2％的策略，从2024年的水平上促进了总价值锁定（TVL）的650％的增长。

This shift toward a more engaged and rewarded user base is evident in the 1,070% increase in daily transactions.

在每日交易增加的1,070％时，向更具参与和奖励的用户群的转变显而易见。

In contrast, Uniswap’s transactional activity has varied more significantly. Commencing 2025 with daily trade volumes of $900 million and rising gradually to $1.8 billion by mid-March, the protocol’s transactions have fluctuated.

相比之下，UNISWAP的交易活动差异更大。从2025年开始，每日贸易量为9亿美元，到3月中旬开始逐渐上升至18亿美元，该协议的交易波动。

Despite this variation, Uniswap’s liquidity remains substantial, with TVL at $3.9 billion. As the protocol explores additional revenue streams—such as protocol fees, which could yield around $50 million annually—the focus on consistent cash flow is evident.

尽管有这种差异，但Uniswap的流动性仍然很大，TVL为39亿美元。当该协议探索额外的收入流（例如协议费用）时，每年可能产生约5000万美元的协议费用，重点是一致的现金流。

When markets are busy, Uniswap performs well; however, its reliance on trading fees can be a weakness during slow markets. This underscores the urgency for additional revenue streams.

当市场忙碌时，Unistwap的运行良好。但是，在缓慢的市场中，其对交易费的依赖可能是一个弱点。这突显了额外收入流的紧迫性。

Moreover, the integration of DeFi governance in Uniswap, focused on granting voting rights to liquidity providers, contrasts with codenamed VE Token’s approach.

此外，将defi治理的整合在单项局部，重点是授予流动性提供者的投票权，与代号为ve doken的方法形成鲜明对比。

Codenamed VE Token’s partnerships—which have spanned domains like blockchain and wine—aim for sustained utility, setting it apart from Uniswap’s model, which is largely driven by trade activity and varying volumes.

代号为ve代币的合作伙伴关系（跨越了区块链和葡萄酒等领域），以持续效用，将其与Uniswap的模型区分开来，该模型主要由贸易活动和不同的数量驱动。

As codenamed VE Token continues to expand its enterprise partnerships, the implications for the protocol’s price performance are noteworthy.

随着代号为VE代币继续扩大其企业合作伙伴关系，对协议价格绩效的影响是值得注意的。

Having witnessed a 25% price appreciation in Q1 2025 due to partnerships and staking rewards, codenamed VE Token is poised for modest gains, with predictions ranging from $0.025 to $0.031 by mid-March.

由于合作伙伴关系和积分奖励，在第1季度的第1季度价值25％的价格赞赏之后，代号为Ve代币已准备好获得适度的收益，预计到3月中旬的0.025美元至0.031美元不等。

Analysts are optimistic about the long-term prospects of codenamed VE Token, particularly in the context of its real-world utility, which includes supply chain management solutions for partners.

分析师对代号为VE代币的长期前景感到乐观，尤其是在其现实世界实用程序的背景下，其中包括针对合作伙伴的供应链管理解决方案。

In contrast, the outlook for Uniswap is less bullish, with Changelly forecasting that UNI will trade between $6.69 and $6.23 by March, considering the varying outlooks from different analysts.

相比之下，UNISWAP的前景不太看好，Changelly预测，考虑到不同分析师的不同前景，Uni将在3月到6.69至6.23美元之间进行交易。

However, the outlook for Uniswap remains cautious, given the implications of a potential downturn in market activity on the protocol’s revenue generation.

但是，鉴于市场活动对协议收入产生的潜在衰退的意义，对单务的前景仍然谨慎。