DeFi
讲解去中心化金融及其真实风险。 · 15篇文章
Decentralized Perpetual Exchanges Explained
A perp DEX lets you trade perpetual futures from your own wallet. Learn how decentralized perpetual exchanges work, their designs, fees and key risks.
2026年10月13日 · 阅读约4分钟
Tokenized Treasuries Explained
Tokenized treasuries put US government debt exposure on a blockchain. Learn how they work, who can buy them, how yield is paid and the risks to check first.
2026年10月12日 · 阅读约5分钟
Real-World Assets (RWA) in DeFi
Real world assets in crypto explained: how bonds, credit, gold and property are tokenized for DeFi, who holds the underlying assets, and the risks to check.
2026年10月11日 · 阅读约5分钟
Restaking Explained: Extra Yield and Extra Risk
Restaking reuses staked ETH to secure other services for extra rewards. Learn how restaking and liquid restaking tokens work and the layered risks involved.
2026年10月10日 · 阅读约5分钟
Liquid Staking Explained
Liquid staking explained: how liquid staking tokens like stETH and JitoSOL work, rebasing vs value-accruing designs, uses in DeFi and the risks involved.
2026年10月9日 · 阅读约4分钟
Algorithmic Stablecoins: Lessons from Past Failures
Algorithmic stablecoins try to hold a peg with code instead of full reserves. Learn how they work, why TerraUSD and others collapsed and the warning signs.
2026年10月8日 · 阅读约5分钟
Stablecoins Explained: Fiat-Backed, Crypto-Backed and Algorithmic
Stablecoins explained: how fiat-backed, crypto-backed and algorithmic stablecoins hold their peg, what they are used for and the risks of each type.
2026年10月7日 · 阅读约5分钟
Over-Collateralization: Why DeFi Loans Need More Than You Borrow
Why does an overcollateralized loan require more collateral than you borrow? Learn how DeFi loans, LTV ratios and liquidations work, with a worked example.
2026年10月6日 · 阅读约4分钟
Liquidations in DeFi: How They Happen and How to Avoid Them
A DeFi liquidation sells your collateral when a loan gets too risky. Learn how health factors, thresholds and penalties work, and how to avoid it.
2026年10月5日 · 阅读约5分钟
Lending and Borrowing in DeFi
DeFi lending lets you earn interest or borrow against crypto through smart contracts. Learn how collateral, rates and liquidations work, plus the main risks.
2026年10月3日 · 阅读约5分钟
Yield Farming Explained: Rewards and Real Risks
Yield farming explained: how DeFi protocols pay rewards for providing liquidity, where the yield really comes from, and the real risks behind high APYs.
2026年10月3日 · 阅读约4分钟
Liquidity Pools: How They Work
A liquidity pool is a smart contract holding two or more tokens that traders swap against. Learn how pricing, fees, LP tokens and impermanent loss work.
2026年10月3日 · 阅读约5分钟
Impermanent Loss Explained with Simple Examples
Impermanent loss explained with worked examples: why liquidity providers can end up with less than if they had held, how to estimate it, and how to limit it.
2026年10月3日 · 阅读约5分钟
Automated Market Makers (AMMs) Explained
An automated market maker lets you swap tokens against a liquidity pool instead of an order book. Learn how AMM pricing, fees, slippage and risks work.
2026年10月3日 · 阅读约5分钟
What Is DeFi? Decentralized Finance Explained
What is DeFi? Learn how decentralized finance works, what you can do with it, the main protocol types and the real risks to check before you use it.
2026年10月3日 · 阅读约5分钟