为啥现在的稳定币项目那么容易暴雷?🤔 1) 很多「稳定币」实际是精美包装过的债务而非有实质抵押的美元资产 ticker 取个 USD❓❓USD US❓ ,不代表就是 1:1 足额抵押。储备金不透明、策略不透明,项目方把债务精致包装一下取个名,凭空印钞,就能骗走很多用户手里的香香u(USDT USDC) 2) DeFi 杠杆的滥用 通过循环贷叠杠杆,提高资本效率已经是常识。只要空气「稳定币」通过高息/积分达到一定的 TVL 规模,借贷平台就非常容易开绿灯。各色 Curator 进驻,从管理费里分一杯羹,平台跟 Curator 一起给「稳定币」背书,吸引更多的冤种来参与。 冤种们一窝蜂拿手里的优质资产(BTC ETH 香香u)去抢借贷额度,巴不得跟人比谁的杠杆叠得更高,谁的资本效率更优秀。只要预言机插针或者脱锚个水下一毛钱,仓位就摇摇欲坠 3) 市场对「稳定币」的过度热情 币圈实在是没什么能赚钱的了。各种叙事炒了又炒,骗了一波又一波的接盘韭菜。老玩家们玩腻了,有点积蓄的都不想冒着风险参与二级,也没什么值得长拿的优质资产,只能把钱塞进各类理财项目里面躺着赚点小钱。 哪里韭菜集中,哪里就好割。一路连续创业者、不怀好意的大割盯上了这块肥肉,镰刀一挥,收割大把 USDT 和 BTC 人民群众得擦亮眼睛,保护好钱袋子。请牢记 DeFi 的不可能三角:高收益 <> 安全性 <> 持续性
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