笔者希望开一个新的系列文章，用来帮助小伙伴们快速入门DeFi，并结合DeFi巨鲸们的实盘数据，分析不同策略的收益与风险，希望大家支持。首先第一期，笔者希望从最近很火热的利差套利策略入手，并结合AAVE大户的资金配置来分析这个策略的机会点和风险。

In general, I believe that as Powell adjusts the FED's decision-making logic, the performance of the U.S. job market will determine the market's confidence in the September interest rate cut in the short term, which in turn will affect the prices of risky asset markets.

In general, the launch of Aave Umbrella has optimized the pressure on the supply side of AAVE tokenomics and improved capital efficiency from the perspective of the project. However, it is necessary to observe the impact of the transition of participants in the original incentive scenarios on the protocol. As for stkGHO participants alone, they may need to look for other Yield scenarios.

In general, taking Ethena as an example, the current potential return rate of the Pendle YT leverage points strategy can reach 393%, but you still need to pay attention to the investment risks.

In general, the PT leveraged mining strategy of AAVE+Pendle+Ethena is not a risk-free arbitrage strategy, in which the discount rate risk of PT assets still exists. Therefore, participating users need to objectively evaluate, control the leverage ratio, and avoid liquidation.

As Trump's policies are being fulfilled one by one, he has attracted manufacturing back to China through tariffs, actively detonated the stock market bubble and forced the Federal Reserve to cut interest rates and release money, and then promoted financial innovation and accelerated industrial development through deregulation policies. This combination of punches is actually changing the market. Among them, the RWA track under the favorable deregulation policy is also increasingly attracting attention from the crypto industry. This article will mainly introduce the opportunities and challenges of tokenized stocks.

In this article, we will review the current mainstream paradigms of Web3 consumer applications and explore their respective opportunities and challenges.

As for the short-term market trend, the combination of many unfavorable factors has indeed led to certain price pressures, but there seems to be no clear structural risks. Therefore, if the market retreats excessively due to panic, building a proper position may be an option.

zkTLS technology introduces the ZKP zero-knowledge proof algorithm, allowing the on-chain smart contract to act as a third party and directly verify the data provided by a node, thus avoiding the high usage costs of traditional Oracle caused by the consensus algorithm.

"Trump's currency issuance" marks the official return of neoliberalism in the United States. Survival of the fittest and wild growth will become the main theme of this new era.

In general, I believe that the prices of many high-growth risky assets, including the crypto market, will continue to be suppressed in the short term. The reason is that the U.S. Treasury market has been adversely affected by the increase in term premiums and higher medium and long-term interest rates. The reason for this situation is that the market is pricing in the U.S. debt crisis.

In general, looking back at 2024 and looking forward to 2025, I think it is appropriate to summarize it in four sentences: from grassroots to universal, from chaos to order, from depression to bubble, and from conservatism to reform. Next, I will share my thoughts and prospects with some events that I think are more representative.

The cryptocurrency market experienced a large pullback last week, which was generally attributed to the so-called "hawkish rate cut" by Federal Reserve Chairman Powell, which triggered concerns in the risk market about inflation and economic recession. However, according to the author's analysis, this is probably only a secondary factor causing capital panic. The real impact lies in the strong pressure on Congress's short-term spending bill initiated by Trump and Musk last Wednesday, and even the uncertainty caused by threatening to cancel the debt ceiling rule, which triggered the risk aversion of funds.

The reason for the recent market volatility is how to continue to capture incremental value after BTC prices break through new highs. My view is that the key is to observe whether BTC can take over from AI and become the core of driving economic growth in the new political and economic cycle in the United States under Trump's administration. The game here has already begun with the wealth effect of MicroStrategy, but the whole process is bound to still face many challenges.

In general, this seems to be a very interesting small program. It makes good use of conversational AI to further lower the threshold for issuing MEME. Interested friends can try it. Each user is allowed to create at most once a day. Of course, the essence of MEME is still the traffic value. Only when this problem is solved, the MEME you issue will be valuable. For the platform, if the wealth effect can be maintained continuously, I believe that the community power will provide a wealth of tools to further optimize the user experience.