# Сопутствующие статьи по теме DeFi

Новостной центр HTX предлагает последние статьи и углубленный анализ по "DeFi", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Crypto Market Structure Act to Be Debated Tomorrow Night: An In-Depth Analysis of Four Core Controversies

The U.S. Senate Banking Committee is set to vote on the Digital Asset Market Structure Act (CLARITY Act) on January 15, a pivotal moment for crypto regulation. The bill aims to clarify jurisdictional boundaries between the SEC and CFTC, establish a clear path for digital assets to transition from securities to commodities, and address critical industry controversies. Key debates include: - **Stablecoin Yield Restrictions**: Banking lobbyists push to ban interest payments on stablecoins, fearing deposit outflows and unfair competition, while crypto advocates argue this stifles innovation and global competitiveness. - **DeFi Developer Liability**: A major point of contention is whether developers should face criminal liability for code used in decentralized protocols, with significant implications for innovation and legal responsibility. - **Political Ethics**: Democrats are pushing for "ethics clauses" to prevent conflicts of interest, particularly concerning Trump-family-linked crypto ventures seeking federal banking licenses. The outcome could define regulatory clarity, attract institutional investment, and position the U.S. in the global digital asset landscape, balancing innovation against traditional financial and political interests.

marsbit01/14 11:16

Crypto Market Structure Act to Be Debated Tomorrow Night: An In-Depth Analysis of Four Core Controversies

marsbit01/14 11:16

2025 Epic Showdown: Has DEX Finally Overtaken CEX?

In 2025, decentralized exchanges (DEXs) experienced unprecedented growth, with trading volume nearly quadrupling compared to previous years. This surge was particularly driven by the rise of perpetual decentralized exchanges (Perp DEXs), which saw a 176% increase in annual trading volume—exceeding the cumulative total of the previous four years. Key players like Hyperliquid, Lighter, and Aster led this expansion, while established platforms like dYdX and GMX saw slower growth. The year began with Solana-based DEXs outperforming Ethereum in Q4 2024, fueled by meme coin and AI-related trading. However, Ethereum regained momentum in Q1 2025 following its Pectra upgrade and renewed investor confidence. Binance’s collaboration with PancakeSwap in Q2 significantly boosted BSC-based DEX volume, while Q3 saw intensified competition among Perp DEXs and the successful launch of Jupiter Lend, which attracted over $1 billion in deposits within days. Despite a market shake-up in Q4 due to the "10·11" liquidation event, Perp DEXs demonstrated resilience, with Aster and Lighter recovering faster than Hyperliquid. In spot trading, Uniswap maintained dominance in TVL, while Solana-based DEXs collectively reached trading volumes comparable to Uniswap. The article concludes that DEXs are not outright replacing centralized exchanges (CEXs) but are evolving alongside them. Both are integrating each other’s strengths—DEXs improving in efficiency and user experience, and CEXs adopting self-custody and on-chain transparency—suggesting a future of coexistence rather than displacement.

marsbit01/14 10:14

2025 Epic Showdown: Has DEX Finally Overtaken CEX?

marsbit01/14 10:14

After the Implementation of Uniswap's Fee Switch: Is This DeFi Transformation's 'Report Card' Impressive Enough?

Uniswap's fee switch activation, implemented through the "UNIfication" proposal, marks a pivotal shift in its tokenomics by linking UNI tokens directly to protocol usage and revenue. Previously a governance-only asset, UNI now accrues value through a deflationary mechanism where a portion of protocol fees from Uniswap V2, V3, and Unichain is used to programmatically burn UNI tokens. An initial one-time treasury burn of 100 million UNI was executed to compensate holders for past unaccrued fees. Early data indicates an annualized protocol revenue of approximately $26-27 million, resulting in a revenue multiple of around 207x relative to UNI’s $5.4 billion market capitalization. The current annualized burn rate is estimated at 4-5 million UNI, representing only 0.4% of the circulating supply. This high valuation implies strong market expectations for future growth, requiring expanded fee capture—such as broader pool coverage, V4 hooks, and Unichain optimization—to justify current levels. The move reflects a broader DeFi trend toward "fee-hooked" token models, where tokens are designed to better align holders with protocol economics through mechanisms like burns, staker rewards, or ve-token lockups. This transition makes UNI more analytically grounded but also subjects it to greater scrutiny based on sustainable value accumulation and real yield generation. Regulatory developments regarding revenue-sharing tokens will also play a critical role in shaping its future.

marsbit01/14 10:05

After the Implementation of Uniswap's Fee Switch: Is This DeFi Transformation's 'Report Card' Impressive Enough?

marsbit01/14 10:05

Who Controls the Revenue Lifeblood of the Crypto Industry?

The article analyzes the revenue dynamics of the crypto industry, which generated over $16 billion in revenue in 2025—double that of 2024. The largest revenue drivers are stablecoin issuers like Tether and Circle, which account for 60% of total industry revenue. However, decentralized perpetual exchanges (perp DEXs) such as Hyperliquid, EdgeX, Lighter, and Axiom emerged as a significant new sector, collectively contributing 7-8% of total revenue—more than established DeFi sectors like lending and staking combined. Three key factors drive crypto revenue: spread income (e.g., interest from stablecoin reserves), transaction execution (e.g., perp DEXs enabling high-frequency trading), and distribution channels (e.g., token launch platforms like pump.fun). The article notes that perp DEXs, with their frictionless trading and liquidity advantages, are the only sector potentially challenging stablecoin issuers' dominance. Additionally, the industry is shifting toward value transfer to token holders via mechanisms like buybacks, burns, and fee sharing. In 2025, $33.6 billion (58% of total fees) was returned to token holders, reinforcing tokens as economic ownership claims rather than mere governance tools. This trend is expected to accelerate in 2026, especially as falling interest rates reduce the appeal of spread-based revenue.

marsbit01/14 09:52

Who Controls the Revenue Lifeblood of the Crypto Industry?

marsbit01/14 09:52

Changpeng Zhao Backs Non-Custodial Trading Platform Genius Through YZi Labs

Changpeng Zhao (CZ), founder of Binance, is investing in Genius Trading, a non-custodial crypto trading platform, through YZi Labs family office. The investment, worth tens of millions of dollars, supports a platform designed to protect large DeFi traders from front-running and MEV attacks. Genius uses Multi-Party Computation (MPC) and a non-custodial design to conceal trades by breaking large orders into smaller pieces and using temporary wallets, ensuring privacy and execution secrecy. CZ’s backing signals a strategic shift toward on-chain trading and institutional privacy tools, positioning Genius as a potential game-changer in crypto trading.

TheNewsCrypto01/14 09:44

Changpeng Zhao Backs Non-Custodial Trading Platform Genius Through YZi Labs

TheNewsCrypto01/14 09:44

Crypto Win? Expert Evaluates The Latest Market Structure Bill Draft—Here’s What To Know

The Senate Banking Committee has released an updated draft of the CLARITY Act, a crypto market structure bill, ahead of its markup. The draft defines regulatory roles for the SEC and CFTC and includes key industry wins. It recognizes custodial and staking services as administrative activities, allows asset pooling, and upholds existing AML/KYC rules. Consumers gain an explicit right to self-custody wallets and direct P2P transactions. The bill also protects wallet developers from being classified as money transmitters. For DeFi, it creates exclusions so protocol developers aren't treated as centralized exchanges, establishing a safe harbor for users. Senator Cynthia Lummis urged bipartisan support. An expert estimates a 60-70% chance of the bill becoming law by early 2026, contingent on compromises regarding anti-CBDC provisions and stablecoin rules for banks.

bitcoinist01/14 08:02

Crypto Win? Expert Evaluates The Latest Market Structure Bill Draft—Here’s What To Know

bitcoinist01/14 08:02

Deconstructing Smart-Cashtags: How X Is Entering Web3 Financial Infrastructure?

X, formerly Twitter, is launching "Smart-Cashtags," a feature that integrates real-time financial data directly into its platform, marking a significant step in its evolution into an "Everything App." This update aims to eliminate the friction users face when switching between X for market information, charting tools like TradingView, and exchanges to execute trades. The core innovation is the binding of a cashtag (e.g., $SOL) to a specific on-chain smart contract address, combating the widespread issue of scam tokens with identical names. This provides a layer of verification and security for users. Beyond fraud prevention, Smart-Cashtags will display a financial dashboard with real-time price, volume, and on-chain data when a user clicks a tag. This transforms X into a "Bloomberg Terminal for retail," enabling near-instant decision-making without leaving the app and accelerating the platform's influence on asset pricing. This move is also a strategic play in the "Web3 traffic入口" war against Telegram, which has captured mobile trading demand via its trading bots. With the recent acquisition of payment licenses and an in-app wallet in development, X is positioned to eventually integrate "Buy/Sell" buttons, potentially becoming the world's largest social trading platform. Scheduled for a global rollout, Smart-Cashtags represent X's ambition to move beyond being a source of information to becoming the central hub for social finance (Social-Fi), capturing value directly within its ecosystem.

marsbit01/14 07:37

Deconstructing Smart-Cashtags: How X Is Entering Web3 Financial Infrastructure?

marsbit01/14 07:37

Team Expansion, The Hyperliquid Story Continues

Hyperliquid, a decentralized cryptocurrency exchange, has rapidly emerged as a major player in crypto derivatives trading despite operating with a lean team of just 11 people and no venture capital funding. Founded by Harvard graduate Jeff Yan, the platform emphasizes transparency, security, and speed—key differentiators in the wake of the FTX collapse. In October, Hyperliquid handled over $100 billion in liquidations during a market “flash crash,” outperforming established giants like Binance and Bybit. The platform has generated over $616 million in annualized revenue, with its native token HYPE reaching a market cap of nearly $5.9 billion. Jeff Yan envisions Hyperliquid as the “AWS of finance,” supporting a growing ecosystem where developers can trade various assets, including equities. However, the platform faces challenges from well-funded competitors like Lighter and regulatory scrutiny due to its anonymous, non-KYC user model. Despite these hurdles, Hyperliquid continues to expand, recently increasing its team to 14 employees as it aims to redefine financial infrastructure.

marsbit01/14 03:28

Team Expansion, The Hyperliquid Story Continues

marsbit01/14 03:28

Interactive Tutorial | Seize the Last Chance to Earn Points Before ETHGas Token Launch

ETHGas, a DeFi project focused on solving Ethereum's high gas fees and network congestion, has announced that the snapshot for its GWEI token airdrop will occur on January 19 at 8:00 AM Beijing Time. The project, which raised $12 million in a seed round led by Polychain Capital, aims to make Ethereum transactions faster and cheaper through partnerships with major protocols. The total supply of GWEI tokens is 10 billion, allocated to ecosystem, investors, team, community, foundation, and advisors. Users can earn Beans points by completing social and referral tasks on the platform. Discord interaction points will also be converted to Beans, with a snapshot on January 15. A step-by-step guide is provided: users need to bind their X account and Web3 wallet on the ETHGas website, generate a Gas Report, and complete tasks to accumulate points before the snapshot. Existing users are advised to renew their Gas ID to ensure eligibility.

Odaily星球日报01/14 03:09

Interactive Tutorial | Seize the Last Chance to Earn Points Before ETHGas Token Launch

Odaily星球日报01/14 03:09

BNB Chain’s Fermi hard fork goes live as on-chain activity returns to 2021 levels

BNB Chain activated its Fermi hard fork on 14 January 2026, significantly reducing block times from 0.75 to 0.45 seconds to enhance network performance. This upgrade, including BEP-619 and BEP-590, addresses growing strain as on-chain activity returns to 2021 levels with 2–3 million daily active addresses. However, total value locked remains at $7bn, far below its $20bn peak, creating higher risks of congestion and transaction issues. Fermi aims to ensure stability and faster finality for DeFi and trading amid increased user activity with thinner liquidity.

ambcrypto01/14 02:56

BNB Chain’s Fermi hard fork goes live as on-chain activity returns to 2021 levels