上一个周期的两个主要成功案例——Hyperliquid 和 Ethena 的核心机制并非由可组合性驱动。
Hyperliquid 是一个独立的永续合约去中心化交易所(perp dex)。
Ethena 的收益来自链下基差交易。
现在他们已经拥有了分发能力,正在*重新*加入可组合性。Hyperliquid 通过其专属的 EVM L1,Ethena 则通过 Converge 网络。
有趣的是,这两者最初的流动性都来源于以太坊生态系统。Hyperliquid 来自 Arbitrum One,而 Ethena 则在主网上。
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