# Bài viết Liên quan Vaults

Trung tâm Tin tức HTX cung cấp những bài viết mới nhất và phân tích chuyên sâu về "Vaults", bao gồm xu hướng thị trường, cập nhật dự án, phát triển công nghệ và chính sách quản lý trong ngành tiền kỹ thuật số.

Grayscale believes the emergence of 3,000 onchain vaults with assets over $7 billion will be the next breakthrough in the cryptocurrency sector

Grayscale Research believes that onchain vaults, which pool investor capital for professionally managed, yield-generating strategies via smart contracts, could be the next major crypto innovation to enter the mainstream. Currently, over 3,000 such vaults hold roughly $7 billion in assets. They resemble traditional Collateralized Loan Obligations (CLOs) but replace intermediaries like trustees with blockchain-based smart contracts, enabling real-time transparency, lower costs, and potentially higher liquidity. While still small compared to the $1.5 trillion global CLO market, these vaults—primarily focused on stablecoin strategies—could become foundational digital asset investment products. However, regulatory uncertainty in the U.S., particularly around whether vault managers might be deemed investment advisers or issuers of securities, remains a key obstacle for institutional adoption. Their success hinges on balancing smart contract efficiency with compliance to traditional financial standards.

cryptonews.ru08/01 09:57

Grayscale believes the emergence of 3,000 onchain vaults with assets over $7 billion will be the next breakthrough in the cryptocurrency sector

cryptonews.ru08/01 09:57

Sentora and Firelight Collaborate to Bring Native DeFi Coverage

Sentora, an institutional DeFi intelligence platform, and Firelight Protocol have partnered to integrate native coverage for Sentora’s public and private vaults. This collaboration introduces a capital-backed protection layer designed to facilitate institutional participation by offering defense against risks like smart contract exploits, oracle failures, and bad debt. The integration addresses a key structural gap in DeFi, where security concerns have limited institutional adoption. Firelight, built on Flare Network, uses FXRP—a 1:1 representation of XRP—as primary collateral, enabling XRP to function as a yield-bearing asset while diversifying the reserve base. The partnership aims to standardize embedded protection within DeFi capital deployment, combining Sentora’s risk models with Firelight’s automated claims and underwriting systems. Flare, a strategic investor in Sentora, supports the alignment of infrastructure and risk layers. Together, the collaboration seeks to enhance trust and accelerate broader institutional adoption of onchain finance.

TheNewsCrypto04/23 14:02

Sentora and Firelight Collaborate to Bring Native DeFi Coverage

TheNewsCrypto04/23 14:02

Dialogue with Bitwise: Institutions See the Current Moment as a Good Entry Point for Bitcoin, Requiring a Clear Roadmap to Address Quantum Attacks

Bitwise CIO Matt Hougan and research lead Ryan Rasmussen discuss key catalysts that could drive Bitcoin to $95,000 by 2026. They highlight three main factors: improved macro and geopolitical stability, clearer regulatory frameworks (including the potential passage of the Clarity Act), and strong institutional demand—evidenced by over $1 billion in Bitcoin ETF inflows despite recent market uncertainty. A significant point of discussion is the rising concern around quantum computing threats to Bitcoin. Matt emphasizes the need for a clear mitigation roadmap to reassure long-term investors, particularly the "OG" crypto community, whose confidence has been affected. Both note that institutional investors view current prices as an attractive entry point and are making strategic long-term investments. The conversation also covers structural shifts in crypto, such as the growing institutional adoption of vaults (a more efficient form of asset management than ETFs), tokenization, and stablecoins. They observe a disconnect between crypto-native traders, who are emotionally reactive to price swings, and institutional or AI-focused builders, who are optimistic about blockchain’s foundational technology. Finally, they discuss the emerging importance of prediction markets (e.g., Polymarket and Kalshi), which provide more accurate real-time economic forecasts than traditional sources and offer new tools for portfolio hedging and risk management.

marsbit04/10 07:45

Dialogue with Bitwise: Institutions See the Current Moment as a Good Entry Point for Bitcoin, Requiring a Clear Roadmap to Address Quantum Attacks

marsbit04/10 07:45

MakerDAO Transforms and Receives B- Credit Rating, Same Level as Congo Government Bonds

MakerDAO, the decentralized finance lending protocol, and its subDAO Spark are undertaking measures to improve their credit rating in a bid to attract institutional capital. In August, S&P Global Ratings assigned a B- rating to MakerDAO’s USDS and DAI stablecoins, placing them in the "junk bond" category, equivalent to the government bonds of the Democratic Republic of Congo. To enhance its standing, the protocol plans to repackage debt backing USDS, isolate exposure to high-risk yield sources, and introduce junior capital vaults. These structural changes aim to align with traditional finance expectations and mitigate concerns over riskier assets like Ethena’s USDe, which previously received a high-risk weighting from S&P. Spark intends to launch first-loss capital vaults in Q2, offering higher risk but greater returns, similar to junior tranches in traditional structured finance. The move reflects a broader trend among DeFi protocols seeking credibility through ratings from established agencies like S&P, Moody’s, and Fitch, as well as emerging crypto-native firms like Credora. Improving credit ratings is increasingly critical as DeFi aims to capture capital from traditional financial institutions entering the blockchain space.

marsbit04/10 05:30

MakerDAO Transforms and Receives B- Credit Rating, Same Level as Congo Government Bonds

marsbit04/10 05:30

Wintermute EthCC Observations: DeFi Shifts Entirely to Vault Track, Founders No Longer Rush to Issue Tokens

Wintermute Ventures investment manager Joscha Kupferberg attended EthCC in Cannes and shared key observations: VCs are more cautious but still investing, founders are prioritizing token launches and focusing on product development first, and DeFi builders are heavily shifting toward the Vault sector. Other trends include the rise of on-chain forex, privacy-focused DeFi, and prediction markets. Neobanking features are becoming standard rather than differentiators, and most crypto AI applications have reverted to trading bots. The overall atmosphere was positive, with fewer hype-driven projects and more substantive development.

marsbit04/08 09:35

Wintermute EthCC Observations: DeFi Shifts Entirely to Vault Track, Founders No Longer Rush to Issue Tokens

marsbit04/08 09:35

The Boundaries and Channels of Finance: The New Pricing Logic of Global Markets

The article "Financial Boundaries and Channels: The New Pricing Logic of Global Markets" explores the evolving relationship between traditional finance and decentralized finance (DeFi), focusing on the growing interest of asset management giants like BlackRock and Apollo in on-chain vaults and RWA (Real World Assets). It argues that while DeFi has adopted USDT/USDC as de facto standards due to their scale, this reliance on U.S. Treasury-backed stablecoins means DeFi is subject to external monetary policies without reciprocal influence. The piece highlights the absence of a native DeFi risk-free rate and examines past attempts, like algorithmic stablecoins, which failed to challenge this dominance. The author suggests that vaults and curators may become central to a new financial architecture, facilitating global capital flow and efficiency. However, these structures currently lack mechanisms for asset price inflation and face risks from code vulnerabilities and governance issues. The future may lie in broker-like channels that enhance capital fluidity beyond centralized exchanges, potentially leading to a more integrated and efficient global market system. Ultimately, the article concludes that while DeFi infrastructure matures, the real innovation opportunity resides in creating channels that enable seamless, scalable capital interaction, moving beyond traditional token economics.

比推03/11 06:44

The Boundaries and Channels of Finance: The New Pricing Logic of Global Markets

比推03/11 06:44

The Limits of Finance, The Channel Value of Global Markets

This article explores the evolving relationship between traditional finance and decentralized finance (DeFi), focusing on the growing institutional interest in on-chain vaults and real-world assets (RWA). While major asset managers like BlackRock and Apollo are investing heavily in DeFi tokens, the sector faces challenges, including liquidity crises and structural limitations. A central theme is the absence of a native DeFi risk-free interest rate. Despite multiple attempts—from algorithmic stablecoins to liquidity staking tokens—DeFi has largely adopted USDT and USDC for their scale, effectively making U.S. Treasury bonds the de facto benchmark. However, this dependency creates vulnerability, as DeFi cannot interact bidirectionally with traditional finance. The article argues that the next phase of DeFi will revolve around vaults—on-chain repositories that aggregate assets and yield. These vaults, managed by "curators," aim to offer fixed-rate products and credit systems but currently lack mechanisms for asset price inflation and clear risk management. The piece concludes that while vaults and curators are gaining traction, the true innovation lies in creating efficient "channels" or broker-like systems that enhance global capital flow. These could eventually replace centralized exchanges as the primary liquidity hubs, enabling a more integrated and efficient financial system without relying on traditional tokenomics.

marsbit03/10 13:23

The Limits of Finance, The Channel Value of Global Markets

marsbit03/10 13:23

Ending 'Subsidized Growth': The Logic of Ultimate Capital Efficiency Behind Berachain's 'Fiscal' Reform

Berachain has implemented a major reform of its Proof-of-Liquidity (PoL) mechanism, reducing the annual inflation rate of its non-transferable governance token $BGT from 8% to 5%—a 46% cut in emissions. This move, described as a "fiscal reform," signals the end of the initial subsidy-driven growth phase and a shift toward a more capital-efficient economic model. The update also involves removing around 200 underperforming reward vaults and introducing stricter, performance-based criteria for vault eligibility. Key tokens in the PoL system include $BERA (gas token), $HONEY (native stablecoin), and $BGT (governance token). The reforms aim to enhance the value and utility of $BGT by directing incentives toward protocols that demonstrate real user activity, sustainable demand, and measurable contributions to the ecosystem—such as boosting transaction volume or deepening liquidity. This restructuring is designed to prioritize quality over quantity, encouraging projects with stronger product-market fit and business models. By making $BGT emissions more scarce and targeted, Berachain aims to build a self-sustaining economy where incentives function as productive capital rather than subsidies, ultimately supporting long-term growth and value creation for token holders.

marsbit03/10 04:32

Ending 'Subsidized Growth': The Logic of Ultimate Capital Efficiency Behind Berachain's 'Fiscal' Reform

marsbit03/10 04:32

When On-Chain Lending Systems Converge

Credit is the time machine of the economy, enabling businesses to bring future cash flows into today's decisions. The global credit gap for SMEs in emerging markets is estimated at $5.7 trillion. Recent developments in on-chain lending, such as Kraken's DeFi Earn and Bitwise's vault strategies on Morpho, signal a maturation beyond the speculative cycles of 2022. The ecosystem now integrates vaults for self-custody and transparency, automated risk management by firms like Chaos Labs, and AI-driven optimization engines. Total value locked in lending protocols has grown 150% in two years, with active loans exceeding $40 billion—double the 2022 peak. This evolution reduces operational inefficiencies, lowers credit costs via stablecoins and smart contracts, and enhances accessibility, potentially helping bridge the global credit gap. However, risks like liquidity constraints and curator discretion remain.

marsbit02/10 01:35

marsbit02/10 01:35

This New Launch Means XRP Holders Can Now Earn Yield – Here’s How

The Flare Network has launched modular lending for XRP through integrations with Morpho and Mystic Finance, enabling FXRP holders to earn yield and borrow without selling their holdings. FXRP is a 1:1 overcollateralized representation of XRP on Flare. Users can deposit FXRP into permissionless, yield-bearing vaults to earn returns based on market conditions and automated strategies. They can also use FXRP as collateral to borrow stablecoins or other assets. This development expands DeFi utility for XRP holders, allowing them to access liquidity and structured yield strategies while their underlying XRP remains on the XRP Ledger.

bitcoinist02/06 04:02

This New Launch Means XRP Holders Can Now Earn Yield – Here’s How