{"id":4290,"date":"2026-06-14T00:00:29","date_gmt":"2026-06-13T16:00:29","guid":{"rendered":"http:\/\/www.jineng168.com\/?p=4290"},"modified":"2026-06-14T00:00:29","modified_gmt":"2026-06-13T16:00:29","slug":"ondo%ef%bc%9arwa-%e9%be%99%e5%a4%b4%e7%9a%84%e4%ba%a7%e5%93%81%e7%ba%bf%e3%80%81%e7%ab%9e%e4%ba%89%e5%af%b9%e6%89%8b%e5%92%8c%e4%bb%a3%e5%b8%81%e4%bc%b0%e5%80%bc%e5%88%86%e6%9e%90","status":"publish","type":"post","link":"http:\/\/www.jineng168.com\/?p=4290","title":{"rendered":"Ondo\uff1aRWA \u9f99\u5934\u7684\u4ea7\u54c1\u7ebf\u3001\u7ade\u4e89\u5bf9\u624b\u548c\u4ee3\u5e01\u4f30\u503c\u5206\u6790"},"content":{"rendered":"<h1 class=\"art_tit\">Ondo\uff1aRWA \u9f99\u5934\u7684\u4ea7\u54c1\u7ebf\u3001\u7ade\u4e89\u5bf9\u624b\u548c\u4ee3\u5e01\u4f30\u503c\u5206\u6790<\/h1>\n<div class=\"content_text\">\n<div class=\"quote\">                        \u5982\u679cOndo 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src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/2030ff268757b959654fd6e32cf225d6.jpg\" \/><\/p>\n<p>\u6536\u76ca\u578b\u7f8e\u5143\u7a33\u5b9a\u5e01\u3002USDY \u9762\u5411\u975e\u7f8e\u56fd\u7684\u4e2a\u4eba\u548c\u673a\u6784\u7528\u6237\u53d1\u884c\uff0c\u901a\u8fc7\u77ed\u671f\u7f8e\u503a\u548c\u94f6\u884c\u5b58\u6b3e\u5229\u606f\u652f\u6491\u6536\u76ca\u3002USDY \u57fa\u7840\u4ef7\u683c\u4e3a1\u7f8e\u5143\uff0c\u4f46\u5229\u606f\u4ee5\u6bcf\u65e5\u7ed3\u7b97\u7684\u65b9\u5f0f\u8ba1\u5165\u4ee3\u5e01\u4ef7\u503c\uff0c\u8ba9\u6301\u5e01\u8005\u81ea\u52a8\u83b7\u5f97\u6536\u76ca<strong>\u3002<\/strong>\u56e0\u6b64\u7528\u6237\u65e0\u9700\u8d28\u62bc\u6216\u9501\u5b9a\uff0c\u6301\u6709 USDY \u5373\u53ef\u6bcf\u5929\u81ea\u52a8\u7d2f\u79ef\u6536\u76ca\uff0cUSDY\u7684\u6536\u76ca\u8ba1\u7b97\u901a\u5e38\u53c2\u8003\u65e0\u98ce\u9669\u5229\u7387\uff08SOFR\uff09\u51cf\u53bb0.5%\u7684\u8d39\u7387\u3002<\/p>\n<p><strong>USDY\u7684\u76c8\u5229\u6a21\u5f0f<\/strong><\/p>\n<p>Ondo 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\u534f\u8bae\u7c7b\u4ea7\u54c1<\/h3>\n<p><strong>Flux \u501f\u8d37\u5e73\u53f0<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/e50c337c68171b70d8577b34c3c4afcf.jpg\" \/><\/p>\n<p>Flux Finance \u662f\u4e00\u4e2a\u57fa\u4e8eCompound V2\u8d44\u4ea7\u6c60\u6a21\u578b\u5f00\u53d1\u7684\u53bb\u4e2d\u5fc3\u5316\u501f\u8d37\u534f\u8bae\u3002\u652f\u6301\u7528\u6237\u5c06\u9ad8\u8d28\u91cfRWA\u8d44\u4ea7\uff08\u76ee\u524d\u53ea\u652f\u6301OUSG\uff09\u4f5c\u4e3a\u62b5\u62bc\uff0c\u501f\u51fa\u7a33\u5b9a\u5e01\uff0c\u4ee5\u53ca\u5c06\u95f2\u7f6e\u7a33\u5b9a\u5e01\u51fa\u501f\u8d5a\u53d6\u5229\u606f\u3002Flux \u76ee\u524d\u652f\u6301\u5b58\u5165\u548c\u501f\u51fa USDC\u3001DAI\u3001USDT\u3001FRAX \u7b49\u7a33\u5b9a\u5e01\u3002\u540c\u65f6\u9488\u5bf9 OUSG 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ETF\u7b49\u7f8e\u80a1\/\u57fa\u91d1\u7684\u4ee3\u5e01\u5316\u7248\u672c\uff0c\u5e76\u53ef\u5728\u975e\u7f8e\u56fd\u5e02\u573a\u81ea\u7531\u4ea4\u6613\u6216\u53c2\u4e0e\u94fe\u4e0a\u91d1\u878d\u670d\u52a1\u3002GM \u5e73\u53f0\u8fd8\u5c06\u652f\u6301\u4ee3\u5e01\u6301\u6709\u8005\u9009\u62e9\u53c2\u4e0e\u8bc1\u5238\u501f\u8d37\u8d5a\u53d6\u989d\u5916\u6536\u76ca\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u76ee\u524dOndo Global Markets\u4ecd\u672a\u6b63\u5f0f\u4e0a\u7ebf\uff0c\u5728\u5176\u4e1a\u52a1\u7684\u5b98\u7f51\u9875\u9762\uff0c\u53ea\u6a21\u7cca\u5730\u8868\u793a\u201c\u9884\u671f\u4f1a\u5728\u4eca\u5e74\u8f83\u665a\u7684\u65f6\u95f4\u53d1\u5e03\u201d\u3002\u8be5\u4e1a\u52a1\u5e94\u8be5\u8fd8\u5728\u8fdb\u884c\u4ea7\u54c1\u3001\u5408\u89c4\u7b49\u591a\u65b9\u9762\u7684\u51c6\u5907\uff0c\u7f8e\u56fd\u76d1\u7ba1\u673a\u6784\u5bf9\u4e8e\u8d44\u4ea7\u4ee3\u5e01\u5316\u7684\u6e05\u6670\u7684\u5408\u89c4\u6307\u5f15\uff0c\u4ee5\u53ca\u76f8\u5173\u7acb\u6cd5\u7684\u660e\u786e\uff0c\u4f1a\u662f\u8be5\u4ea7\u54c1\u80fd\u987a\u5229\u8fd0\u884c\u7684\u91cd\u8981\u524d\u7f6e\u6761\u4ef6\u3002\u6b64\u5916\uff0cOndo Global Markets\u5c06\u4f1a\u5728Ondo Chain\u4e0a\u8fd0\u884c\uff0c\u4e0b\u6587\u5c06\u4f1a\u8be6\u7ec6\u4ecb\u7ecd\u3002<\/p>\n<p><strong>Nexus \u8d44\u4ea7\u53d1\u884c\u534f\u8bae<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/a57c42b388bc4c177a589dce1cdbd095.jpg\" \/><\/p>\n<p>Ondo Nexus \u662f\u51762025\u5e742\u6708\u63a8\u51fa\u7684\u65b0\u6280\u672f\u65b9\u6848\uff0c\u65e8\u5728\u4e3a\u7b2c\u4e09\u65b9\u53d1\u884c\u7684\u7f8e\u503a\u4ee3\u5e01\u63d0\u4f9b\u5373\u65f6\u6d41\u52a8\u6027\u3002\u7b80\u5355\u6765\u8bf4\uff0cNexus \u5229\u7528 OUSG \u5177\u5907\u7684\u5373\u65f6\u94f8\u9500\u80fd\u529b\uff0c\u5145\u5f53\u4e0d\u540c\u53d1\u884c\u4e3b\u4f53\u4e4b\u95f4\u7684\u5171\u540c\u6d41\u52a8\u6027\u5c42\u3002Ondo \u5c06 OUSG \u7684\u5408\u683c\u62b5\u62bc\u54c1\u8303\u56f4\u62d3\u5c55\u81f3\u5bcc\u5170\u514b\u6797\u9093\u666e\u987f\u3001WisdomTree\u3001\u60e0\u7075\u987f\u7b49\u516c\u53f8\u7684\u7f8e\u503a\u4ee3\u5e01\u3002\u8fd9\u4e9b\u5408\u4f5c\u673a\u6784\u53d1\u884c\u7684\u6536\u76ca\u51ed\u8bc1\uff08\u5982 Franklin \u7684 FOBXX \u57fa\u91d1\u4ee3\u5e01\u7b49\uff09\u90fd\u53ef\u88ab Ondo \u63a5\u53d7\u5e76\u5151\u6362\u4e3a OUSG\uff0c\u4ece\u800c\u5b9e\u73b0\u5404\u4ea7\u54c1\u4e0e\u7a33\u5b9a\u5e01\u4e4b\u95f4\u7684\u5171\u4eab\u6d41\u52a8\u6027\u3002\u901a\u8fc7 Nexus\uff0c\u4e00\u4e2a\u6301\u6709\u7b2c\u4e09\u65b9\u673a\u6784\u7f8e\u503a\u4ee3\u5e01\u7684\u6295\u8d44\u8005\uff0c\u53ef\u4ee524\/7\u968f\u65f6\u5c06\u5176\u5356\u7ed9 Ondo\u6362\u53d6USDC\u6216\u5176\u4ed6\u7a33\u5b9a\u5e01\uff0c\u800cOndo\u5219\u5c06\u8be5\u4ee3\u5e01\u7eb3\u5165\u81ea\u8eab\u8d44\u4ea7\u6c60\u4f5c\u4e3a\u652f\u6491\uff0c\u518d\u94f8\u9020\u7b49\u503c\u7684 OUSG\u3002\u8fd9\u4e3a\u6574\u4e2a\u5e02\u573a\u63d0\u4f9b\u4e86\u201c\u5373\u65f6\u8d4e\u56de\u201d\u673a\u5236\uff0c\u6253\u7834\u4e86\u4f20\u7edf\u57fa\u91d1\u53ea\u80fd\u5de5\u4f5c\u65e5\u6709\u9650\u65f6\u95f4\u7a97\u53e3\u8d4e\u56de\u7684\u9650\u5236\u3002Nexus \u7684\u63a8\u51fa\u4e5f\u52a0\u5f3a\u4e86Ondo\u4e0e\u8d1d\u83b1\u5fb7\u3001\u5bcc\u5170\u514b\u6797\u7b49\u8d44\u7ba1\u5de8\u5934\u7684\u5408\u4f5c\u5173\u7cfb\u3002<\/p>\n<h3><strong>1.1.3 \u57fa\u7840\u8bbe\u65bd\u7c7b\u4ea7\u54c1<\/strong><\/h3>\n<p><strong>Ondo Chain \uff1a\u6ce8\u91cd\u5408\u89c4\u7684\u8bb8\u53efL1<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/611f35e4332676fb08f0835781908fcf.jpg\" \/><\/p>\n<p>2025\u5e742\u6708\uff0cOndo \u5ba3\u5e03\u5c06\u63a8\u51fa\u81ea\u4e3b\u7684\u534a\u8bb8\u53ef\u533a\u5757\u94fe Ondo Chain\uff0c\u4e13\u95e8\u4e3a\u673a\u6784\u7ea7RWA\u53d1\u884c\u548c\u4ea4\u6613\u8bbe\u8ba1\u3002Ondo Chain \u91c7\u7528\u6743\u76ca\u8bc1\u660e\uff08PoS\uff09\u5171\u8bc6\uff0c\u4f46\u9a8c\u8bc1\u8005\u53ef\u4ee5\u8d28\u62bc\u7684\u8d44\u4ea7\u4e0d\u9650\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff0c\u4e5f\u53ef\u4ee5\u662f\u6709\u5145\u6c9b\u6d41\u52a8\u6027\u7684\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff0c\u7528\u4ee5\u964d\u4f4e\u52a0\u5bc6\u5e02\u573a\u6ce2\u52a8\u5bf9\u7f51\u7edc\u5b89\u5168\u7684\u5f71\u54cd\u3002\u9a8c\u8bc1\u8282\u70b9\u5c06\u7531\u7ecf\u8fc7\u8bb8\u53ef\u7684\u77e5\u540d\u91d1\u878d\u673a\u6784\u62c5\u4efb\uff08\u610f\u5411\u987e\u95ee\u5305\u62ec\u5bcc\u5170\u514b\u6797\u9093\u666e\u987f\u3001\u60e0\u7075\u987f\u3001WisdomTree\u3001Google Cloud\u3001\u8377\u5170\u94f6\u884c\u3001\u6021\u5b89\u3001\u9ea6\u80af\u9521\u7b49\u5927\u578b\u4f20\u7edf\u673a\u6784\uff09\u3002<\/p>\n<p>\u8be5\u94fe\u7684\u7279\u70b9\u5728\u4e8e\u7ed3\u5408\u516c\u94fe\u900f\u660e\u5ea6\u548c\u8bb8\u53ef\u94fe\u7684\u5408\u89c4\u5b89\u5168\u6027\uff1a\u94fe\u4e0a\u5f00\u653e\u8bbf\u95ee\u4e0e\u5f00\u53d1\uff0c\u4f46\u9a8c\u8bc1\u5c42\u53d7\u63a7\uff0c\u4ee5\u9632\u6b62MEV\u653b\u51fb\u548c\u6ee1\u8db3\u76d1\u7ba1\u8981\u6c42\u3002\u6b64\u5916\uff0cOndo Chain \u539f\u751f\u652f\u6301\u5173\u952e\u91d1\u878d\u529f\u80fd\uff08\u5982\u80a1\u606f\u5206\u914d\u3001\u62c6\u80a1\u7b49\uff09\uff0c\u63d0\u4f9b\u94fe\u4e0a\u8bc1\u660e\uff08Proof of Reserves\uff09\uff0c\u7531\u9a8c\u8bc1\u8005\u5b9a\u671f\u5ba1\u8ba1\u4fdd\u8bc1\u6bcf\u4e00\u4ee3\u5e01\u90fd\u6709\u8db3\u989d\u5b9e\u7269\u8d44\u4ea7\u80cc\u4e66\u3002Ondo Chain \u8fd8\u5c06\u5185\u7f6e\u57fa\u4e8e\u53bb\u4e2d\u5fc3\u5316\u9a8c\u8bc1\u7f51\u7edc\u7684\u8de8\u94fe\u6865\u3002\u800c\u6240\u8c13\u7684\u201c\u5f00\u653e\u201d\uff0c\u6307\u5141\u8bb8\u4efb\u4f55\u4eba\u53d1\u884c\u4ee3\u5e01\u3001\u5f00\u53d1\u5e94\u7528\u7a0b\u5e8f\u6216\u4f5c\u4e3a\u7528\u6237\u6216\u6295\u8d44\u8005\u8bbf\u95ee\u7f51\u7edc\u3002\u540c\u65f6\uff0c\u7528\u6237\u8eab\u4efd\u8bc6\u522b\u548c\u6743\u9650\u5c06\u662f Ondo Chain \u7684\u6838\u5fc3\u529f\u80fd\uff0c\u5141\u8bb8\u8d44\u4ea7\u53d1\u884c\u8005\u548c\u5e94\u7528\u7a0b\u5e8f\u5f00\u53d1\u8005\u5728\u9002\u5f53\u7684\u5408\u7ea6\u5c42\u9762\u5b9e\u65bd\u6743\u9650\u7ba1\u7406\u548c\u8f6c\u8ba9\u9650\u5236\uff0c\u4e5f\u5c31\u662f\u8bf4\uff1a\u5c3d\u7ba1\u7528\u6237\u53ef\u4ee5\u81ea\u7531\u8bbf\u95ee\u7f51\u7edc\uff0c\u4f46\u5f00\u53d1\u8005\u53ef\u4ee5\u5728\u5408\u7ea6\u5c42\u9762\u7ea6\u5b9a\u7f51\u7edc\u4e0a\u7684\u54ea\u4e9b\u7528\u6237\u53ef\u4ee5\u8bbf\u95ee\u5b83\u90e8\u7f72\u7684\u534f\u8bae\u548c\u8d44\u4ea7\u3002<\/p>\n<p>\u8be5\u94fe\u7684\u76ee\u6807\u662f\u4f5c\u4e3a\u672a\u6765\u201c\u534e\u5c14\u88572.0\u201d\u7684\u5e95\u5c42\u67b6\u6784\uff0c\u8ba9\u673a\u6784\u80fd\u591f\u5728\u94fe\u4e0a\u8fdb\u884c\u5305\u62ec\u4e3b\u7ecf\u7eaa\u4e1a\u52a1\u3001\u4ea4\u53c9\u62b5\u62bc\u501f\u8d37\u7b49\u64cd\u4f5c\uff0c\u5b9e\u73b0\u4f20\u7edf\u91d1\u878d\u548cDeFi\u7684\u65e0\u7f1d\u878d\u5408\u3002Ondo Chain \u9884\u8ba1\u4e8e2025\u5e74\u5185\u6d4b\u8bd5\u4e0a\u7ebf\uff0c\u636e\u79f0\u76ee\u524d\u6b63\u4e0ePayPal\u3001\u6469\u6839\u58eb\u4e39\u5229\u3001\u8d1d\u83b1\u5fb7\u7b49\u673a\u6784\u5408\u4f5c\u8bbe\u8ba1\u7f51\u7edc\u7ec6\u8282\u3002<\/p>\n<p>\u7efc\u4e0a\uff0cOndo Finance \u5df2\u521d\u6b65\u642d\u5efa\u8d77\u6db5\u76d6\u8d44\u4ea7\u53d1\u884c-\u6d41\u52a8\u6027\u7ba1\u7406-\u57fa\u7840\u8bbe\u65bd\u7684\u7efc\u5408\u77e9\u9635\u3002\u5176\u4ea7\u54c1\u7ebf\u4ece\u5e95\u5c42\u8d44\u4ea7\uff08\u7f8e\u503a\u3001\u94f6\u884c\u5b58\u6b3e\u3001\u516c\u5f00\u8bc1\u5238\uff09\u5230\u94fe\u4e0a\u534f\u8bae\u548c\u57fa\u7840\u8bbe\u65bd\uff08\u501f\u8d37\u3001\u8de8\u94fe\u6865\u3001\u4e13\u7528\u94fe\uff09\u76f8\u4e92\u534f\u540c\uff0c\u4e92\u76f8\u8f93\u9001\u4e1a\u52a1\u3002<\/p>\n<h3>1.2 \u4e1a\u52a1\u6570\u636e<\/h3>\n<p>\u5c3d\u7ba1 Ondo Finance \u7684\u4ea7\u54c1\u5e03\u5c40\u5f88\u591a\uff0c\u4f46\u662f\u76ee\u524d\u771f\u6b63\u5df2\u7ecf\u4e0a\u7ebf\u7684\u4ea7\u54c1\u4e0d\u591a\uff0c\u8d44\u4ea7\u7c7b\u7684\u4ea7\u54c1\u5373 OUSG \u548c USDY\uff0c\u534f\u8bae\u7c7b\u7684\u5219\u662f\u501f\u8d37\u4ea7\u54c1 Flux \u3002<\/p>\n<p><strong>OUSG \u7684\u4e1a\u52a1\u6570\u636e<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/7bf3708837c89ca64ffc43a2cbcd3e47.jpg\" \/><\/p>\n<p><span>\u6570\u636e\u6765\u6e90\uff1aOndo \u5b98\u7f51<\/span><\/p>\n<p>\u76ee\u524d OUSG \u7684\u8d44\u4ea7\u603b\u89c4\u6a21\u4e3a5.45\u4ebf\u7f8e\u91d1\uff0c\u81ea\u4ece23\u5e74\u53d1\u884c\u4ee5\u6765\uff0c\u5176\u89c4\u6a21\u7ecf\u5386\u4e86\u4e09\u6ce2\u5feb\u901f\u589e\u957f\uff0c\u5176\u4e2d\u589e\u957f\u6700\u5feb\u7684\u4e00\u6b21\u662f\u4eca\u5e742\u6708\u81f3\u4eca\uff0c\u4ece\u4e0d\u52302\u4ebf\u589e\u957f\u81f35\u4ebf \u3002<\/p>\n<p>OUSG \u5728\u4e09\u6761\u533a\u5757\u94fe\u4e0a\u4f9b\u5e94\uff0c\u5206\u522b\u662fEthereum\u3001Polygon\u548cSolana\uff0c\u4f46\u5b9e\u9645\u7edd\u5927\u90e8\u5206\u53d1\u578b\u5728\u4ee5\u592a\u574a\u4e0a\uff0c\u5728\u53e6\u4e24\u6761\u94fe\u4e0a\u7684\u89c4\u6a21\u975e\u5e38\u5fae\u5c0f\u3002<\/p>\n<p>\u800c\u89c2\u5bdf\u4ee5\u592a\u574a\u4e0a\u7684\u5730\u5740\u6570\u636e\uff0cOUSG\u7684\u6301\u6709\u5730\u5740\u6570\u4ec5\u4e3a57\u4e2a\uff0c\u4e14\u524d10\u5927\u5730\u5740\u5360\u5230\u4e86\u8d44\u4ea7\u53d1\u884c\u603b\u91cf\u768490%\u4ee5\u4e0a\uff0c\u8fd9\u4e00\u6570\u636e\u4e0e OUSG \u4ec5\u9488\u5bf9\u5408\u89c4\u673a\u6784\u5f00\u653e\u7684\u60c5\u51b5\u4e00\u81f4\u3002<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/c5a1b7931f784b7f2e490f904136a935.jpg\" \/><\/p>\n<p><span>\u6570\u636e\u6765\u6e90\uff1aetherscan<\/span><\/p>\n<p><strong>USDY \u7684\u4e1a\u52a1\u6570\u636e<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/58ba1a6137e42de9d42e1d7cf8e8ef17.jpg\" \/><\/p>\n<p><span>\u6570\u636e\u6765\u6e90\uff1aOndo \u5b98\u7f51<\/span><\/p>\n<p>\u76ee\u524d USDY \u7684\u8d44\u4ea7\u603b\u89c4\u6a21\u4e3a6.34\u4ebf\u7f8e\u91d1\uff0c\u76ee\u524d\u652f\u6301\u5305\u62ecEthereum\u3001Mantle\u3001Solana\u3001Sui\u3001Aptos\u3001Noble\u3001Arbitrum\u3001Plume \u5728\u5185\u76848\u6761\u533a\u5757\u94fe\u3002<\/p>\n<p>\u4ee5\u592a\u574a\u540c\u6837\u662f USDY \u53d1\u884c\u7684\u4e3b\u8981\u9635\u5730\uff0c\u5176\u5728\u4ee5\u592a\u574a\u4e0a\u7684\u53d1\u884c\u89c4\u6a21\u8d85\u8fc7\u4e00\u534a\uff0c\u5e02\u503c\u7ea6\u4e3a3.3\u4ebf\u7f8e\u91d1\uff0c\u6301\u5e01\u5730\u5740\u6570\u540c\u6837\u4e0d\u591a\uff0c\u4ec5\u6709316\u4e2a\uff1bSolana\u5219\u7d27\u968f\u5176\u540e\uff0c\u53d1\u884c\u5e02\u503c\u7ea6\u4e3a1.77\u4ebf\u7f8e\u91d1\uff0c\u6301\u5e01\u5730\u5740\u6570\u5219\u9ad8\u8fbe6329\u4e2a\uff0c\u663e\u793a\u51fa\u4e86\u66f4\u9ad8\u7684\u96f6\u552e\u7528\u6237\u91c7\u7528\u7387\u3002<\/p>\n<p><strong>Flux \u7684\u4e1a\u52a1\u6570\u636e<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/fd1342f8146f20bd221dc7e230b945a7.jpg\" \/><\/p>\n<p><span>\u6570\u636e\u6765\u6e90\uff1aFlux \u5b98\u7f51<\/span><\/p>\n<p>\u7531\u4e8e Flux \u76ee\u524d\u53ea\u652f\u6301 OUSG \u4f5c\u4e3a\u62b5\u62bc\u8d44\u4ea7\uff0c\u5176\u4e1a\u52a1\u89c4\u6a21\u5e76\u4e0d\u9ad8\uff0c\u603b\u5b58\u6b3e\u89c4\u6a21\u4e3a7400\u4e07\u7f8e\u91d1\uff0c\u501f\u51fa\u8d44\u91d13343\u4e07\u7f8e\u91d1\u3002Flux \u540e\u7eed\u7684\u589e\u957f\uff0c\u4ecd\u7136\u4f9d\u8d56 Ondo \u751f\u6001\u80fd\u5f15\u5165\u66f4\u591a\u7684RWA\u8d44\u4ea7\u3002<\/p>\n<h3>1.3 \u56e2\u961f\u80cc\u666f<\/h3>\n<p>RWA \u4f5c\u4e3a\u4e00\u4e2a\u5f3a\u5408\u89c4\u3001Defi\u548c\u4f20\u7edf\u91d1\u878d\u76f8\u878d\u5408\u7684\u8d5b\u9053\uff0c\u9879\u76ee\u65b9\u662f\u5426\u62e5\u6709\u4e30\u5bcc\u7684\u4f20\u7edf\u91d1\u878d\u673a\u6784\u5546\u52a1\u8d44\u6e90\uff0c\u6709\u6ca1\u6709\u6784\u5efa\u8ddf\u653f\u5e9c\u76d1\u7ba1\u90e8\u95e8\u901a\u7545\u7684\u7684\u6c9f\u901a\u7ba1\u9053\uff0c\u5728\u91d1\u878d\u5408\u89c4\u4e0a\u6709\u6ca1\u6709\u6df1\u539a\u7684\u4ea7\u4e1a\u7ecf\u9a8c\uff0c\u662f\u6211\u4eec\u5224\u65ad\u9879\u76ee\u672a\u6765\u80fd\u5426\u987a\u5229\u53d1\u5c55\u7684\u91cd\u8981\u53c2\u8003\u3002<\/p>\n<h3>\u56e2\u961f\u4e3b\u8981\u6210\u5458\u7684\u804c\u4e1a\u80cc\u666f<\/h3>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/837ceb45c71cf8de2607feaeed2b238a.jpg\" \/><\/p>\n<p><span>\u6765\u6e90\uff1aOndo \u5b98\u7f51<\/span><\/p>\n<p>Ondo Finance \u7684\u521b\u59cb\u548c\u9ad8\u7ba1\u56e2\u961f\u4e3b\u8981\u6765\u81ea\u534e\u5c14\u8857\u5927\u578b\u91d1\u878d\u673a\u6784\u548c\u77e5\u540d\u54a8\u8be2\u516c\u53f8\uff0c\u591a\u4eba\u6765\u81ea\u9ad8\u76db\u96c6\u56e2\u7684\u6570\u5b57\u8d44\u4ea7\u4e1a\u52a1\u90e8\u95e8\uff0c\u6838\u5fc3\u56e2\u961f\u6210\u5458\u5168\u5b9e\u540d\u3002<\/p>\n<p>\u5176\u4e2d\u8054\u5408\u521b\u59cb\u4eba Nathan Allman \u66fe\u5728\u9ad8\u76db (Goldman Sachs) \u6570\u5b57\u8d44\u4ea7\u90e8\u95e8\u5de5\u4f5c\u3002\u603b\u88c1\u517c\u9996\u5e2d\u8fd0\u8425\u5b98 Justin Schmidt \u6b64\u524d\u62c5\u4efb\u9ad8\u76db\u6570\u5b57\u8d44\u4ea7\u5e02\u573a\u90e8\u95e8\u4e3b\u7ba1\uff0c\u4e5f\u662f\u9ad8\u76db\u6570\u5b57\u8d44\u4ea7\u56e2\u961f\u7684\u521b\u5efa\u6210\u5458\u4e4b\u4e00\u3002\u9996\u5e2d\u6218\u7565\u5b98 Ian De Bode \u5728\u52a0\u5165 Ondo \u524d\u662f\u9ea6\u80af\u9521\u516c\u53f8\u7684\u5408\u4f19\u4eba\uff0c\u8d1f\u8d23\u6570\u5b57\u8d44\u4ea7\u9886\u57df\u54a8\u8be2\uff0c\u5177\u6709\u8fd1\u5341\u5e74\u4e3a\u91d1\u878d\u673a\u6784\u9ad8\u7ba1\u63d0\u4f9b\u6218\u7565\u54a8\u8be2\u7684\u7ecf\u9a8c\u3002\u603b\u6cd5\u5f8b\u987e\u95ee Mark Janoff \u62e5\u6709\u65af\u5766\u798f\u6cd5\u5b66\u9662\u5b66\u5386\u5e76\u66fe\u4ece\u4e8b\u79d1\u6280\u516c\u53f8\u6cd5\u5f8b\u4e8b\u52a1\u3002\u56e2\u961f\u6838\u5fc3\u6210\u5458\u7684\u5c65\u5386\u8c6a\u534e\uff0c\u4e14\u8fc7\u5f80\u5c65\u5386\u5f88\u597d\u5730\u9002\u914d\u4e86 Ondo \u6240\u5728\u8d5b\u9053\u7684\u53d1\u5c55\u9700\u6c42\u3002<\/p>\n<h3>\u653f\u5e9c\u5173\u7cfb\uff1a\u79ef\u6781\u53c2\u4e0e\u653f\u7b56\u5236\u5b9a\u4e0e\u884c\u4e1a\u534f\u4f1a\/\u516c\u5171\u5021\u8bae<\/h3>\n<p>2025\u5e744\u6708\uff0cOndo \u56e2\u961f\u4e0e\u5176\u6cd5\u5f8b\u987e\u95ee\u4e00\u9053\u4f1a\u89c1\u4e86\u7f8e\u56fd SEC \u52a0\u5bc6\u8d44\u4ea7\u5de5\u4f5c\u7ec4 (Crypto Asset Working Group)\uff0c\u5411\u76d1\u7ba1\u673a\u6784\u63d0\u4ea4\u4e86\u5173\u4e8e\u4ee3\u5e01\u5316\u8bc1\u5238\u5408\u89c4\u6846\u67b6\u7684\u63d0\u6848\u3002\u6839\u636e\u4f1a\u8c08\u7eaa\u8981\uff0cOndo \u5411 SEC \u63d0\u51fa\u4e86\u5728\u73b0\u884c\u91d1\u878d\u6cd5\u5f8b\u4e0b\u53d1\u884c\u548c\u9500\u552e\u94fe\u4e0a\u4ee3\u5e01\u5316\u7f8e\u56fd\u8bc1\u5238\u7684\u65b9\u6848\uff0c\u8ba8\u8bba\u5185\u5bb9\u6db5\u76d6\u8bc1\u5238\u4ee3\u5e01\u5316\u7684\u7ed3\u6784\u6a21\u578b\u3001\u6ce8\u518c\u4e0e\u7ecf\u7eaa\u5546(Broker-Dealer)\u76d1\u7ba1\u8981\u6c42\u3001\u5e02\u573a\u67b6\u6784\u6cd5\u89c4\u3001\u53cd\u91d1\u878d\u72af\u7f6a\u5408\u89c4\u4ee5\u53ca\u5dde\u516c\u53f8\u6cd5\u7b49\u5173\u952e\u8bae\u9898\u3002Ondo \u751a\u81f3\u5efa\u8bae\u76d1\u7ba1\u673a\u6784\u8003\u8651\u91c7\u7528\u201c\u76d1\u7ba1\u6c99\u76d2\u201d\u6216\u6682\u65f6\u6027\u8c41\u514d\u63aa\u65bd\uff08\u65b9\u4fbf\u5728\u6b63\u5f0f\u7684\u6cd5\u89c4\u843d\u5730\u524d\uff0c\u7ed9\u4e0e\u4f01\u4e1a\u521b\u65b0\u63a2\u7d22\u7684\u7a7a\u95f4\uff09\uff0c\u4ee5\u5728\u4fdd\u969c\u6295\u8d44\u8005\u4fdd\u62a4\u7684\u524d\u63d0\u4e0b\u63a8\u52a8\u521b\u65b0\u3002<\/p>\n<p>Ondo Finance \u4e0e\u653f\u5e9c\u5b98\u5458\u548c\u76d1\u7ba1\u673a\u6784\u7684\u4e92\u52a8\u4e0d\u4ec5\u9650\u4e8e\u79c1\u4e0b\u4f1a\u8c08\uff0c\u4e5f\u51fa\u73b0\u5728\u516c\u5f00\u573a\u5408\u3002\u4eca\u5e742\u6708\uff0cOndo \u5728\u7ebd\u7ea6\u4e3b\u529e\u4e86\u9996\u5c4a Ondo Summit \u5cf0\u4f1a\uff0c\u9080\u8bf7\u4e86\u4f17\u591a\u4f20\u7edf\u91d1\u878d\u548c\u533a\u5757\u94fe\u9886\u57df\u7684\u91cd\u8981\u4eba\u7269\u53c2\u4f1a\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u5cf0\u4f1a\u5609\u5bbe\u4e2d\u5305\u62ec\u7f8e\u56fd\u56fd\u4f1a\u548c\u76d1\u7ba1\u673a\u6784\u7684\u524d\u4efb\u548c\u73b0\u4efb\u5b98\u5458\uff1a\u7f8e\u56fd\u4f17\u8bae\u9662\u91d1\u878d\u670d\u52a1\u59d4\u5458\u4f1a\u524d\u4e3b\u5e2d Patrick McHenry \u51fa\u5e2d\u5e76\u53d1\u8868\u5173\u4e8e\u6570\u5b57\u8d44\u4ea7\u672a\u6765\u76d1\u7ba1\u7684\u8bb2\u8bdd\uff1b\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a (CFTC) \u59d4\u5458\u3001\u4ee3\u7406\u4e3b\u5e2d Caroline Pham \u4e5f\u5728\u4f1a\u4e0a\u8fdb\u884c\u4e86\u7089\u8fb9\u5bf9\u8c08\uff0c\u5206\u4eab\u76d1\u7ba1\u52a8\u5411\u3002\u5728\u4f1a\u8bae\u8ba8\u8bba\u4e2d\uff0cMcHenry \u547c\u5401\u52a0\u5bc6\u884c\u4e1a\u79ef\u6781\u4e0e\u534e\u76db\u987f\u653f\u7b56\u5236\u5b9a\u8005\u63a5\u89e6\uff0c\u5e76\u5f3a\u8c03\u7acb\u6cd5\u8fc7\u7a0b\u7684\u6f2b\u957f\u590d\u6742\u3002Caroline Pham \u5219\u4ecb\u7ecd\u4e86\u76d1\u7ba1\u673a\u6784\u5728\u6267\u884c\u8054\u90a6\u653f\u7b56\u65b9\u9762\u7684\u8fd1\u671f\u8fdb\u5c55\u3002<\/p>\n<p>\u66f4\u8fdb\u4e00\u6b65\uff0c2025\u5e74\u521d Ondo \u5ba3\u5e03 Patrick McHenry \u5c06\u4ee5\u987e\u95ee\u8eab\u4efd\u52a0\u5165\u516c\u53f8\uff0c\u51fa\u4efb Ondo Finance \u987e\u95ee\u59d4\u5458\u4f1a\u526f\u4e3b\u5e2d\u3002McHenry \u66fe\u957f\u671f\u62c5\u4efb\u56fd\u4f1a\u8bae\u5458\u5e76\u53c2\u4e0e\u5236\u5b9a\u91d1\u878d\u76d1\u7ba1\u653f\u7b56\uff0c\u4ed6\u7684\u52a0\u5165\u88ab\u89c6\u4e3aOndo \u52a0\u5f3a\u653f\u5e9c\u5173\u7cfb\u7684\u91cd\u8981\u4e3e\u63aa\u3002<\/p>\n<h3>\u4e0e\u5ddd\u666e\u5bb6\u65cf\u7684\u201c\u4ea4\u60c5\u201d<\/h3>\n<p>2025\u5e742\u6708\u521d\uff0c\u5728\u7ebd\u7ea6\u4e3e\u884c\u7684 \u201c Ondo Summit \u201d \u4e0a\uff0c\u7f8e\u56fd\u603b\u7edf\u957f\u5b50\u5c0f\u5510\u7eb3\u5fb7\u00b7\u7279\u6717\u666e\u610f\u5916\u73b0\u8eab\u5e76\u53d1\u8868\u6f14\u8bb2\u3002\u6b64\u540e\uff0cOndo Finance \u5b98\u65b9\u4e8e 2025 \u5e742\u6708\u53d1\u5e03\u516c\u544a\uff0c\u5ba3\u5e03\u4e0e\u7279\u6717\u666e\u5bb6\u65cf\u652f\u6301\u7684\u52a0\u5bc6\u5e73\u53f0 World Liberty Financial (WLFI) \u5efa\u7acb\u6218\u7565\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u65e8\u5728\u5171\u540c\u63a8\u52a8 RWA \u7684\u91c7\u7528\uff0c\u5c06\u4f20\u7edf\u91d1\u878d\u8d44\u4ea7\u5f15\u5165\u533a\u5757\u94fe\u3002\u636e\u8be5\u516c\u544a\uff0cWLFI \u8ba1\u5212\u5c06 Ondo \u63d0\u4f9b\u7684\u4ee3\u5e01\u5316\u8d44\u4ea7\uff08 OUSG\u3001USDY \uff09\u6574\u5408\u8fdb\u5176\u7f51\u7edc\u4f5c\u4e3a\u50a8\u5907\u8d44\u4ea7\u3002\u6b64\u540e\uff0c\u4e00\u4e2a\u6807\u8bb0\u4e3a WLFI \u6240\u5c5e\u7684\u4ee5\u592a\u574a\u5730\u5740\u7528 47 \u4e07\u7f8e\u5143\u7684 USDC \u4ea4\u6362\u4e86\u7ea634.2\u4e07\u679a ONDO \u4ee3\u5e01\uff0c\u65e9\u5728\u4e24\u4e2a\u6708\u524d\u8be5\u5730\u5740\u5df2\u9996\u6b21\u4e70\u5165\u4ef7\u503c 24.5 \u4e07\u7f8e\u5143\u7684 ONDO\uff0c\u5e76\u5c06\u4ee3\u5e01\u5b58\u5165 Coinbase Prime \u6258\u7ba1\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u4e0e WLFI \u8fbe\u6210\u53e3\u5934\u5408\u4f5c\uff0c\u5e76\u83b7\u5f97 WLFI \u5730\u5740\u8d2d\u5165\u7684\u52a0\u5bc6\u9879\u76ee\u4e0d\u5728\u5c11\u6570\uff0c\u8fd9\u79cd\u5408\u4f5c\u548c\u8d2d\u4e70\u7684\u5e7f\u544a\u6027\u8d28\u662f\u6bd4\u8f83\u6d53\u539a\u7684\uff0c\u66f4\u50cf\u662f\u4e00\u79cd\u5546\u4e1a\u5408\u4f5c\u3002<\/p>\n<p>1.4 \u4e1a\u52a1\u603b\u7ed3<\/p>\n<p>\u7efc\u5408\u4ee5\u4e0a\u4fe1\u606f\uff0c\u7b14\u8005\u8ba4\u4e3a\u53ef\u4ee5\u7528\u51e0\u53e5\u8bdd\u603b\u7ed3 Ondo \u7684\u4e1a\u52a1\u60c5\u51b5\uff1a<\/p>\n<ul>\n<li>\n<p>\u4ece\u8d44\u4ea7\u53d1\u884c\u5230\u4ea4\u6613\uff0cOndo \u56f4\u7ed5 RWA \u6709\u5f88\u5b8c\u6574\u7684\u4ea7\u54c1\u77e9\u9635\uff0c\u5546\u4e1a\u6545\u4e8b\u7684\u5929\u82b1\u677f\u5f88\u9ad8<\/p>\n<\/li>\n<li>\n<p>\u6838\u5fc3\u56e2\u961f\u80cc\u666f\u4f18\u8d28\uff0c\u5728\u4f20\u7edf\u91d1\u878d\u4f01\u4e1a\u548c\u653f\u5e9c\u5173\u7cfb\u4e0a\u90fd\u6709\u5f88\u4e0d\u9519\u7684\u5e03\u5c40\uff0c\u80fd\u8ddf\u76d1\u7ba1\u90e8\u95e8\u8bf4\u7684\u4e0a\u8bdd<\/p>\n<\/li>\n<li>\n<p>\u6838\u5fc3\u4ea7\u54c1\uff08Global Markets \u548c Ondo Chain\uff09\u4ecd\u672a\u4e0a\u7ebf\uff0c\u4ecd\u5728\u7b49\u5f85\u76d1\u7ba1\u7684\u5f00\u95f8\u4fe1\u53f7\uff0c\u76ee\u524d\u4e1a\u52a1\u7684\u53d1\u5c55\u4ecd\u7136\u76f8\u5f53\u201c\u5de6\u4fa7\u201d<\/p>\n<\/li>\n<\/ul>\n<p>\u603b\u4f53\u6765\u8bf4\uff0c\u9762\u5bf9 RWA \u8fd9\u5757\u8fdc\u672a\u5145\u5206\u5f00\u57a6\u7684\u52a0\u5bc6\u84dd\u6d77\uff0cOndo \u76ee\u524d\u662f\u51c6\u5907\u6700\u4e3a\u5145\u5206\u52a0\u5bc6\u4f01\u4e1a\u4e4b\u4e00\uff0c\u5404\u79cd\u7980\u8d4b\u8d44\u6e90\u90fd\u975e\u5e38\u826f\u597d\uff0c\u76ee\u524d\u53ea\u5f85\u76d1\u7ba1\u90e8\u95e8\u548c\u7acb\u6cd5\u673a\u6784\u7684\u4e00\u58f0\u67aa\u54cd\u3002<\/p>\n<h2>2.\u7ade\u4e89\u60c5\u51b5<\/h2>\n<p>\u968f\u7740RWA\u6982\u5ff5\u5347\u6e29\uff0cOndo \u5728\u591a\u4e2a\u4e1a\u52a1\u5c42\u9762\u9762\u4e34\u6765\u81ea\u591a\u4e2a\u9879\u76ee\u7684\u7ade\u4e89\uff0c\u5305\u62ec Securitize\uff08\u672a\u53d1\u5e01\uff09\u3001Centrifuge\u3001Polymesh\uff08\u4e0a\u7ebfBinance\uff09 \u7b49\u3002<\/p>\n<p>\u4e0b\u9762\u4ece\u5e02\u573a\u4efd\u989d\u3001\u4ea7\u54c1\u5dee\u5f02\u3001\u5408\u89c4\u8fdb\u5c55\u548c\u751f\u6001\u5408\u4f5c\u7b49\u65b9\u9762\uff0c\u5bf9\u6bd4 Ondo \u4e0e\u51e0\u4e2a\u7ade\u54c1\u7684\u7ade\u4e89\u60c5\u51b5\uff1a<\/p>\n<h3><strong>2.1 \u5e02\u573a\u5730\u4f4d\u4e0e\u89c4\u6a21<\/strong><\/h3>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/f43cd26507e7b1735c8ec868cd6711d6.jpg\" \/><\/p>\n<p><span>\u6570\u636e\u6765\u6e90\uff1ahttps:\/\/app.rwa.xyz\/treasuries<\/span><\/p>\n<p>\u6839\u636e RWA \u6570\u636e\u5e73\u53f0 RWA.xyz \u7684\u7edf\u8ba1\uff0c\u622a\u81f32025\u5e745\u6708\uff0cOndo \u5728\u7f8e\u503a\u7c7bRWA\u5e02\u573a\u6309\u9501\u5b9a\u8d44\u4ea7\u8ba1\u6392\u540d\u7b2c\u4e8c\uff0c\u5e02\u573a\u5360\u6709\u7387\u7ea617.01%\uff0c\u9501\u5b9a\u8d44\u4ea7\u89c4\u6a21\u7ea611.7\u4ebf\u7f8e\u5143\u3002\u6392\u540d\u7b2c\u4e00\u7684\u662f\u7531\u8d1d\u83b1\u5fb7\u652f\u6301\u7684 Securitize \u5e73\u53f0\uff0c\u9501\u5b9a\u8d44\u4ea7\u7ea629.12\u4ebf\u7f8e\u5143\uff0c\u5e02\u573a\u4efd\u989d42.11%\u3002\u7b2c\u4e09\u540d\u662f\u5bcc\u5170\u514b\u6797Templeton\u7684Benji\u5e73\u53f0\uff087.27\u4ebf\uff0c10.52%\uff09\u3002<\/p>\n<p>\u5728\u56fd\u503a\u6536\u76ca\u4ee3\u5e01\u8fd9\u4e00\u7ec6\u5206\u5e02\u573a\uff0cSecuritize \u548c Ondo \u4fdd\u6301\u9886\u5148\uff0cSecuritize\u8d44\u4ea7\u89c4\u6a21\u66f4\u5927\uff0c\u800cOndo\u7684\u589e\u901f\u4e5f\u8f83\u5feb\uff08\u8fd130\u65e5\u589e\u957f20.3%\uff09\u3002Centrifuge \u5219\u4e13\u6ce8\u4e8e\u4e2d\u5c0f\u4f01\u4e1a\u8d37\u6b3e\u7b49\u79c1\u52df\u4fe1\u8d37RWA\uff0c\u5176\u9501\u5b9a\u8d44\u4ea7\u7ea64.09\u4ebf\u7f8e\u5143\uff0c\u5360\u6bd45.96%\uff0c\u4ec5\u4e00\u4e2a\u6708\u4e1a\u52a1\u589e\u901f\u66f4\u662f\u9ad8\u8fbe222.66%\u3002<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250516\/8cc827a37b64bb504d71ccd8916bc772.jpg\" \/><\/p>\n<p><span>\u5404\u56fd\u503a\u4ee3\u5e01\u5316\u8d44\u4ea7\u7684\u6301\u6709\u4eba\u6570\u89c4\u6a21\uff0c\u6570\u636e\u6765\u6e90\uff1ahttps:\/\/app.rwa.xyz\/treasuries<\/span><\/p>\n<p>\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cOndo \u5728\u6301\u6709\u4eba\u6570\u91cf\u4e0a\u8fdc\u8fdc\u9886\u5148\u4e8e\u5176\u4ed6\u9879\u76ee\u2014\u2014\u5176\u7f8e\u503a\u4ee3\u5e01\u6301\u6709\u4eba\u6570\u5360\u5168\u5e02\u573a\u768490%\u4ee5\u4e0a\uff08\u56e0USDY\u5411\u975e\u7f8e\u56fd\u666e\u901a\u6295\u8d44\u8005\u5f00\u653e\uff0c\u7528\u6237\u9762\u5e7f\uff09\uff0c\u800cSecuritize\u7b49\u504f\u597d\u670d\u52a1\u673a\u6784\u6295\u8d44\u8005\uff0c\u6301\u6709\u4eba\u4e3b\u8981\u4e3a\u5c11\u6570\u5927\u578b\u5ba2\u6237\u3002<\/p>\n<h3><strong>2.2 \u4ea7\u54c1\u5b9a\u4f4d\u548c\u673a\u5236\u5dee\u5f02<\/strong><\/h3>\n<p>Ondo \u4e13\u6ce8\u4e8e\u9ad8\u6d41\u52a8\u6027\u3001\u7a33\u5b9a\u6536\u76ca\u7684\u7f8e\u5143\u8d44\u4ea7\uff08\u77ed\u671f\u56fd\u503a\u3001\u8d27\u5e01\u57fa\u91d1\uff09\u5e76\u7740\u529b\u5c06\u5176\u878d\u5165DeFi\u5e94\u7528\uff0c\u63a8\u51fa\u7684USDY\u5b9a\u4f4d\u4e8e\u53ef\u7528\u4e8e\u652f\u4ed8\u548c\u62b5\u62bc\u7684\u201c\u6536\u76ca\u7a33\u5b9a\u5e01\u201d\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0cSecuritize \u4f5c\u4e3a\u4e00\u5bb6\u6570\u5b57\u8bc1\u5238\u53d1\u884c\u5e73\u53f0\uff0c\u670d\u52a1\u8303\u56f4\u66f4\u5e7f\u6cdb\uff0c\u5305\u62ec\u79c1\u52df\u80a1\u6743\u3001\u57fa\u91d1\u4efd\u989d\u7684\u4ee3\u5e01\u5316\u7b49\u3002\u4f46\u5728\u7f8e\u503a\u6536\u76ca\u4ea7\u54c1\u4e0a\uff0cSecuritize\u4e0e\u8d1d\u83b1\u5fb7\u5408\u4f5c\u53d1\u884c\u4e86 BUIDL \u57fa\u91d1\u4ee3\u5e01\uff08\u901a\u8fc7Coinbase\u6258\u7ba1\uff09\uff0c\u4e3b\u8981\u9762\u5411\u673a\u6784\u548c\u5bcc\u88d5\u5ba2\u6237\u3002BUIDL \u4e0e OUSG \u7c7b\u4f3c\u90fd\u662f\u7d2f\u79ef\u6536\u76ca\u578b\u7684\u57fa\u91d1\u4ee3\u5e01\uff0c\u4f46\u6d41\u52a8\u6027\u673a\u5236\u6709\u6240\u4e0d\u540c\uff1aBUIDL \u901a\u5e38\u4ec5\u5728\u7f8e\u56fd\u5de5\u4f5c\u65e5\u7279\u5b9a\u65f6\u6bb5\u5141\u8bb8\u7533\u8d4e\uff0c\u800c Ondo OUSG \u63d0\u4f9b\u5168\u5e74\u65e0\u4f11\u7684\u5373\u65f6\u94f8\u9500\u670d\u52a1\u3002\u5728DeFi\u96c6\u6210\u5ea6\u65b9\u9762\uff0cOndo \u663e\u7136\u66f4\u80dc\u4e00\u7b79\u2014\u2014\u5176USDY\u548cOUSG\u5728\u591a\u94fe80 \u5e94\u7528\u4e2d\u53ef\u7528, \u5e76\u652f\u6301\u94fe\u4e0a\u62b5\u62bc\u501f\u8d37\uff08Flux\uff09\u3002\u53cd\u89c2Securitize\uff0c\u4fa7\u91cd\u901a\u8fc7\u81ea\u6709\u8bb8\u53ef\u4ea4\u6613\u7cfb\u7edf\uff08ATS\u724c\u7167\uff09\u64ae\u5408\u4ea4\u6613\uff0c\u5c1a\u672a\u6df1\u5ea6\u878d\u5165\u516c\u5f00DeFi\u534f\u8bae\uff0c\u4e0d\u8fc7\u88ab\u4f17\u591a\u9879\u76ee\u4f5c\u4e3a\u91cd\u8981\u7684\u5e95\u5c42\u6536\u76ca\u8d44\u4ea7\uff0c\u5305\u62ec Ondo \u548c Ethena\u3002<\/p>\n<p>Centrifuge \u7684\u4ea7\u54c1\u5219\u5b8c\u5168\u4e0d\u540c\uff1a\u5176\u6838\u5fc3\u662f Tinlake \u8d37\u6b3e\u6c60\uff0c\u5c06\u73b0\u5b9e\u4e2d\u7684\u4fdd\u7406\u5e94\u6536\u8d26\u6b3e\u3001\u623f\u4ea7\u62b5\u62bc\u8d37\u6b3e\u7b49\u8d44\u4ea7\u6253\u5305\u6210\u606f\u7968\u6743\u76ca\u51fa\u552e\uff0c\u6295\u8d44\u4eba\u627f\u62c5\u66f4\u9ad8\u98ce\u9669\u6362\u53d6\u66f4\u9ad8\u6536\u76ca\uff08\u5f80\u5f80\u5e74\u53165-10% \uff09\u3002\u8fd9\u7c7b\u8d44\u4ea7\u671f\u9650\u8f83\u957f\u3001\u6d41\u52a8\u6027\u5dee\uff0c\u9700\u8981\u4f9d\u8d56MakerDao\u7b49\u5927\u578b\u673a\u6784\u63d0\u4f9b\u9000\u51fa\u6d41\u52a8\u6027\uff082021 \u5e74\u8d77\uff0cMakerDAO \u628a Tinlake \u6c60\u5b50\u7684\u9ad8\u7ea7\u503a\u5238\u4ee3\u5e01\u5217\u4e3a RWA \u62b5\u62bc\u54c1\uff0c\u5411\u8d44\u4ea7\u65b9\u5f00\u653e Maker Vault\uff0c\u628a\u5bf9\u5e94\u503a\u6743\u9501\u8fdb\u53bb\u5373\u53ef\u6309\u7ea6\u5b9a\u5229\u7387\u501f\u51fa DAI\uff09\u3002\u76f8\u5e94\u5730\uff0cCentrifuge\u7684\u6cbb\u7406\u4ee3\u5e01CFG\u66f4\u591a\u7528\u4e8e\u94fe\u4e0a\u8d28\u62bc\u3001\u5b89\u5168\u4fdd\u969c\uff0c\u800c\u975e\u5b9a\u4f4d\u4e8e\u65e5\u5e38\u96f6\u552e\u548c\u652f\u4ed8\u573a\u666f\uff0c\u7b97\u662fRWA\u91cc\u66f4\u4e3a\u7ec6\u5206\u7684\u8d5b\u9053\u3002<\/p>\n<p>Polymesh \u5219\u5b9a\u4f4d\u4e3a\u4e13\u7528\u8bc1\u5238\u94fe\uff0c\u901a\u8fc7\u5185\u7f6e\u8eab\u4efd\u8ba4\u8bc1\u548c\u6743\u9650\u63a7\u5236\uff0c\u65b9\u4fbf\u673a\u6784\u5728\u5176\u4e0a\u53d1\u884c\u5404\u79cd\u5408\u89c4\u4ee3\u5e01\uff08\u80a1\u7968\u3001\u503a\u5238\u3001\u57fa\u91d1\u4efd\u989d\u7b49\uff09\u3002Polymesh\u7531\u539fPolymath\u9879\u76ee\u8f6c\u578b\u800c\u6765\uff0c\u5176 POLYX \u4ee3\u5e01\u7528\u4e8e\u652f\u4ed8\u94fe\u4e0a\u8d39\u7528\u548c\u6cbb\u7406\uff0c\u4f46Polymesh\u7f51\u7edc\u4e0a\u7684\u5b9e\u9645\u8d44\u4ea7\u53d1\u884c\u6d3b\u52a8\u76ee\u524d\u4ecd\u4e0d\u591a\uff0c\u89c4\u6a21\u8fdc\u5c0f\u4e8e\u4ee5\u592a\u574a\u7b49\u4e3b\u6d41\u516c\u94fe\u7684 RWA \u6d3b\u52a8\u3002\u4f46\u5982\u4eca\u4e00\u4e9b\u91cd\u91cf\u7ea7\u4f20\u7edf\u673a\u6784\uff08\u5982WisdomTree\uff09\u53cd\u800c\u9009\u62e9\u4e0eOndo\u5408\u4f5c\uff08\u901a\u8fc7Nexus\u53d1\u884c\u8d44\u4ea7\uff0c\u4ee5\u53ca\u4f5c\u4e3aOndo Chain\u7684\u8bbe\u8ba1\u987e\u95ee\u7b49\uff09\u800c\u975e\u81ea\u5efa\u94fe\uff0c\u957f\u671f\u6765\u770bOndo\u5728\u4e1a\u52a1\u843d\u5730\u66f4\u6709\u524d\u666f\u3002<\/p>\n<h3><strong>2.3 \u5408\u89c4\u4e0e\u76d1\u7ba1\u8fdb\u5c55<\/strong><\/h3>\n<p>\u5728\u5408\u89c4\u6027\u65b9\u9762\uff0c\u5404\u5e73\u53f0\u91c7\u53d6\u4e86\u4e0d\u540c\u7b56\u7565\u3002<\/p>\n<p>Ondo \u901a\u8fc7\u4e0e\u53d7\u76d1\u7ba1\u7684\u91d1\u878d\u5b9e\u4f53\u5408\u4f5c\uff0c\u8d70\u7684\u662f\u201c\u6ce8\u518c\u8c41\u514d \u6d77\u5916\u53d1\u884c\u201d\u7684\u6a21\u5f0f\u3002\u6240\u8c13\u6ce8\u518c\u8c41\u514d\uff0c\u662f\u6307\u673a\u6784\u53d1\u884c\u7684\u8bc1\u5238\u6ee1\u8db3\u7279\u5b9a\u7684\u8c41\u514d\u6761\u6b3e\uff0c\u6bd4\u5982\uff1a\u4e0d\u5bf9\u6240\u6709\u7f8e\u56fd\u516c\u4f17\u5f00\u653e\uff0c\u56e0\u6b64\u514d\u4e8e\u5728SEC\u8fdb\u884c\u516c\u5f00\u53d1\u552e\u6ce8\u518c\uff0c\u4ee5\u964d\u4f4e\u5408\u89c4\u6210\u672c\u3001\u63d0\u9ad8\u53d1\u884c\u6548\u7387\u3002 OUSG \u5728\u7f8e\u56fd\u4f5c\u4e3a\u79c1\u52df\u8bc1\u5238\u4ec5\u9650\u5408\u683c\u6295\u8d44\u8005\u5f00\u653e\uff0cUSDY \u5219\u901a\u8fc7\u6d77\u5916\u4e3b\u4f53\u9762\u5411\u6d77\u5916\u53d1\u884c\u3002Ondo \u7684\u5408\u89c4\u56e2\u961f\u80cc\u666f\u4e30\u5bcc\uff0c\u5176\u9996\u5e2d\u5408\u89c4\u5b98\u548c\u591a\u4f4d\u9ad8\u7ba1\u6765\u81ea\u9ad8\u76db\u7b49\u534e\u5c14\u8857\u673a\u6784\uff0c\u5bf9\u76d1\u7ba1\u89c4\u5219\u6bd4\u8f83\u719f\u6089\u3002<\/p>\n<p>Securitize \u5219\u76f4\u63a5\u6301\u6709\u591a\u5f20\u7f8e\u56fd\u91d1\u878d\u724c\u7167\uff0c\u5305\u62ecBroker-Dealer\uff08\u5238\u5546\uff09\u548cSEC\u6ce8\u518c\u8f6c\u8ba9\u4ee3\u7406\u7b49\uff0c\u56e0\u800c\u5728\u53d1\u884c\u6570\u5b57\u8bc1\u5238\u65f6\u62e5\u6709\u66f4\u76f4\u63a5\u7684\u5408\u89c4\u6743\u9650\u3002\u8fd9\u4f7f\u5176\u80fd\u5408\u6cd5\u5730\u4e3a\u5927\u578b\u8d44\u4ea7\u7ba1\u7406\u8ba1\u5212\u63d0\u4f9b\u670d\u52a1\uff0c\u4f8b\u5982\u4ee3\u5e01\u5316KKR\u57fa\u91d1\u4efd\u989d\u7b49\u6848\u4f8b\u3002\u540c\u65f6Securitize\u4e5f\u4e0e\u591a\u5bb6\u5927\u578b\u94f6\u884c\u5408\u4f5c\u63a2\u7d22\u533a\u5757\u94fe\u5e94\u7528\u3002\u76f8\u8f83\u4e4b\u4e0b\uff0cOndo \u5c1a\u672a\u81ea\u884c\u6301\u6709SEC\u724c\u7167\uff0c\u800c\u662f\u501f\u52a9\u5408\u4f5c\u4f19\u4f34\u67b6\u6784\u6765\u5408\u6cd5\u8fd0\u8425\uff08\u5982\u4e0eClear Street\u5238\u5546\u3001Coinbase\u6258\u7ba1\u7b49\u534f\u4f5c\uff09\u3002\u5728\u5168\u7403\u8303\u56f4\u5185\uff0cOndo \u5229\u7528\u6cd5\u89c4\u5957\u5229\uff08\u4e0d\u5411\u7f8e\u56fd\u4eba\u63d0\u4f9bUSDY\uff09\u62d3\u5c55\u5e02\u573a\uff0c\u800cPolymesh\u5219\u4ece\u5e95\u5c42\u878d\u5165\u5408\u89c4\uff08\u8981\u6c42\u6bcf\u4e2a\u5730\u5740\u7ed1\u5b9a\u8eab\u4efd\uff09\u3002Centrifuge \u5219\u662f\u901a\u8fc7\u8bbe\u7acb\u79bb\u5cb8\u7279\u6b8a\u76ee\u7684\u8f7d\u4f53\uff08SPV\uff09\u6765\u6301\u6709\u5e95\u5c42\u8d44\u4ea7\uff0c\u5e76\u63d0\u4f9b\u6cd5\u5f8b\u610f\u89c1\u4f7f\u5176\u4ee3\u5e01\u5316\u503a\u6743\u4e0d\u89e6\u72af\u8bc1\u5238\u6cd5\u3002<\/p>\n<p>\u76d1\u7ba1\u653f\u7b56\u98ce\u9669\u662f\u6240\u6709RWA\u5e73\u53f0\u5171\u540c\u9762\u4e34\u7684\u6311\u6218\u3002\u5982\u679c\u672a\u6765\u7f8e\u56fd\u8981\u6c42\u5c06\u6b64\u7c7b\u4ee3\u5e01\u8ba4\u5b9a\u4e3a\u516c\u52df\u8bc1\u5238\uff0cOndo\u548cSecuritize\u90fd\u9700\u53d6\u5f97\u66f4\u5168\u9762\u7684\u724c\u7167\u6216\u6539\u53d8\u53d1\u884c\u65b9\u5f0f\u3002<\/p>\n<p>\u4e0d\u8fc7\u76ee\u524d\u6765\u770b\uff0cOndo \u4e0e\u76d1\u7ba1\u673a\u6784\u4fdd\u6301\u7740\u8f83\u597d\u7684\u6c9f\u901a\uff0c\u6bd4\u5982Ondo\u9009\u62e9\u5728\u7f8e\u56fd\u6210\u7acb\u53d7\u76d1\u7ba1\u5b50\u516c\u53f8\uff08Ondo I LP\u7b49\uff09\u5e76\u9075\u5faa\u73b0\u884c\u89c4\u5219\u8fd0\u4f5c\uff0c\u5176\u4ea7\u54c1\u5982USDY\u4e5f\u5f3a\u8c03\u7531\u72ec\u7acb\u7b2c\u4e09\u65b9\u6bcf\u65e5\u62a5\u544a\u900f\u660e\u5ea6\u3002\u8fd9\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u964d\u4f4e\u4e86\u88ab\u6267\u6cd5\u98ce\u9669\u3002\u76f8\u5f62\u4e4b\u4e0b\uff0c\u4e00\u4e9b\u53bb\u4e2d\u5fc3\u5316RWA\u9879\u76ee\u7684\u5c1d\u8bd5\uff08\u5982\u672a\u6ce8\u518c\u5c31\u5411\u7f8e\u56fd\u7528\u6237\u9500\u552eRWA\u4ee3\u5e01\uff09\u66f4\u5bb9\u6613\u6210\u4e3a\u76d1\u7ba1\u91cd\u70b9\u6253\u51fb\u5bf9\u8c61\u3002<\/p>\n<h3><strong>2.4 Ondo\u7684\u9636\u6bb5\u6027\u4f18\u52bf<\/strong><\/h3>\n<p>Ondo \u76ee\u524d\u7684\u9886\u5148\uff0c\u5728\u4e8e\u5176\u5e7f\u6cdb\u7684\u4f20\u7edf\u91d1\u878d\u751f\u6001\u652f\u6301\u5e26\u6765\u7684\u54c1\u724c\u77e5\u540d\u5ea6\u3002\u901a\u8fc7\u5404\u79cd\u4ea7\u54c1\u5408\u4f5c\u4e0e\u516c\u5173\u5ba3\u4f20\uff0cOndo \u201c\u5de7\u5999\u5730\u201d \u83b7\u5f97\u4e86 BlackRock\u3001\u6469\u6839\u58eb\u4e39\u5229\u3001\u5bcc\u8fbe\u7b49\u91d1\u878d\u5de8\u5934\u7684\u95f4\u63a5\u80cc\u4e66\u6548\u679c\u3002\u4f8b\u5982\uff0c\u8d1d\u83b1\u5fb7\u53d1\u884c\u7684Buidl \u662f OUSG \u7684\u5e95\u5c42\u8d44\u4ea7\u4e4b\u4e00\uff0c\u867d\u7136\u53cc\u65b9\u5e76\u65e0\u76f4\u63a5\u5408\u4f5c\uff0c\u4f46\u5728\u5927\u8086\u5ba3\u4f20\u4e4b\u4e0b\uff0c\u5e02\u573a\u4e00\u5ea6\u628a Ondo \u5f53\u505a\u4e3b\u8981\u7684\u201c\u8d1d\u83b1\u5fb7\u6982\u5ff5\u5e01\u201d\uff1b\u5bcc\u5170\u514b\u6797\u3001\u60e0\u7075\u987f\u7b49\u9876\u7ea7\u8d44\u7ba1\u516c\u53f8\u66f4\u662f\u76f4\u63a5\u53c2\u4e0eOndo Nexus\u8ba1\u5212\uff0c\u8d21\u732e\u5176\u65d7\u4e0b\u7684\u7f8e\u503a\u4ea7\u54c1\u4f5c\u4e3aOndo\u751f\u6001\u7684\u4e00\u90e8\u5206\u3002\u8fde\u652f\u4ed8\u5de8\u5934 PayPal \u548c\u5361\u7ec4\u7ec7 Mastercard\u4e5f\u4e0e Ondo \u6709\u5408\u4f5c\u2014\u2014PayPal\u7684PYUSD\u7a33\u5b9a\u5e01\u5c06\u7528\u4e8eOUSG\u8d4e\u56de\uff0cMastercard\u5219\u9080\u8bf7Ondo\u52a0\u5165\u5176\u591a\u4ee3\u5e01\u7f51\u7edc(MTN)\u8bd5\u70b9\uff0c\u5c06\u94f6\u884c\u652f\u4ed8\u63a5\u53e3\u5ac1\u63a5\u5230\u94fe\u4e0a\u7ed3\u7b97\u3002<\/p>\n<p>\u867d\u7136\u4ee5\u4e0a\u4e0e\u4f17\u591a\u5927\u673a\u6784\u7684\u5408\u4f5c\u7684\u7a0b\u5ea6\u8bf4\u4e0d\u4e0a\u6709\u591a\u6df1\uff0c\u4f46\u662f\u76f8\u8f83\u4e8e\u5176\u4ed6RWA\u9879\u76ee\u800c\u8a00\uff0c\u8fd9\u4e9b\u5408\u4f5c\u6848\u4f8b\u4e0d\u4f46\u4e3a Ondo \u5e26\u6765\u5f88\u597d\u7684\u5e7f\u544a\u6548\u679c\u548c\u54c1\u724c\u79ef\u7d2f\uff0c\u4e5f\u4e3a\u540e\u7eed\u5176\u5c55\u5f00\u66f4\u591a\u5546\u4e1a\u5408\u4f5c\u63d0\u4f9b\u4e86\u793a\u8303\u6848\u4f8b\u3002<\/p>\n<p>\u603b\u4f53\u800c\u8a00\uff0cOndo 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Act\u6cd5\u6848\u88ab\u62d2\u5c31\u662f\u4e00\u4e2a\u7f29\u5f71\uff09\uff0c\u800c2026\u5e74\u5c31\u662f\u4e24\u9662\u4e2d\u671f\u9009\u4e3e\uff0c\u5171\u548c\u515a\u5728\u4e24\u9662\u7684\u4f18\u52bf\u5728\u9009\u540e\u80fd\u5426\u4fdd\u6301\u4ecd\u662f\u672a\u77e5\u6570\u3002\u5982\u679c\u9488\u5bf9\u8d44\u4ea7\u4ee3\u5e01\u5316\u7684\u5408\u89c4\u6cd5\u6848\u65e0\u6cd5\u5728\u4e2d\u671f\u9009\u4e3e\u524d\u901a\u8fc7\uff0c\u540e\u7eed\u63a8\u8fdb\u5c06\u66f4\u52a0\u8270\u96be\uff0c\u4e0d\u786e\u5b9a\u6027\u5927\u5927\u589e\u52a0\u3002<\/p>\n<h3><strong>3.4 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TVL\u4e4b\u6bd4\u7ea62.7x\uff0c\u8fd9\u8868\u660eONDO\u4ef7\u683c\u5df2<strong>\u5145\u5206price-in<\/strong>\u5bf9\u672a\u6765\u6269\u5f20\u7684\u4e50\u89c2\u9884\u671f\uff0c\u5f88\u5927\u7a0b\u5ea6\u4e0a\u900f\u652f\u4e86\u672a\u6765\u7684\u4e0a\u6da8\u5e45\u5ea6\uff0c\u4e5f\u8ba9\u8fd9\u4e2a\u5e02\u503c\u5728\u9762\u4e34\u5404\u7c7b\u98ce\u9669\u56e0\u7d20\u65f6\u53d8\u5f97\u5f88\u8106\u5f31\u3002<\/p>\n<p>\u4ece\u57fa\u672c\u9762\u5206\u6790\u51fa\u53d1\uff0c\u5f53\u524dONDO\u4ee3\u5e01\u7684\u4f30\u503c\u4f9d\u7136\u663e\u7136\u5f88\u9ad8\u3002<\/p>\n<p>\u4eceOndo\u7684\u9759\u6001\u73b0\u72b6\u51fa\u53d1\uff1a\u4ee532.7\u4ebf\u5e02\u503c\u8ba1\u7b97\uff0c\u5047\u8bbeOndo\u5e73\u53f0\u5e74\u6536\u5165\u4e3b\u8981\u6765\u81eaUSDY\u548cOUSG\u7684\u7ba1\u7406\u8d39\u548c\u5229\u5dee\uff08\u6309\u8d44\u4ea7\u89c4\u6a21$10\u4ebf\u3001\u5e73\u5747\u6536\u76ca5%\u3001\u8d39\u7528\u6bd4\u73870.3-0.5%\u4f30\u8ba1\uff09\u6bcf\u5e74\u7ea6300-500\u4e07\u7f8e\u5143\uff0c\u518d\u52a0\u4e0aFlux\u7b49\u6742\u9879\u6536\u5165\uff0c\u603b\u5e74\u6536\u5165\u4f30\u8ba1\u4e0d\u8db31000\u4e07\u7f8e\u5143\u3002<\/p>\n<p>\u4ee5\u6b64\u7b97\u51fa\u7684\u6d41\u901a\u5e02\u503c\u7684\u9759\u6001\u5e02\u76c8\u7387(P\/E)\u8fdc\u8d85 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