{"id":3846,"date":"2026-10-16T18:43:17","date_gmt":"2026-10-16T10:43:17","guid":{"rendered":"https:\/\/www.shoppingguid.com\/?p=3846"},"modified":"2026-10-16T18:43:17","modified_gmt":"2026-10-16T10:43:17","slug":"%e7%bb%88%e7%bb%93%e9%9b%b6%e5%92%8c%e5%8d%9a%e5%bc%88%ef%bc%9aweb3%e6%bf%80%e5%8a%b1%e5%b7%a5%e7%a8%8b%e4%b8%8e%e5%a5%a5%e5%be%b7%e8%b5%9b%e8%a1%8c%e4%b8%ba%e5%8a%a8%e5%8a%9b%e5%ad%a6%e6%b7%b1","status":"publish","type":"post","link":"https:\/\/www.qzjzb120.com\/?p=3846","title":{"rendered":"\u7ec8\u7ed3\u96f6\u548c\u535a\u5f08\uff1aWeb3\u6fc0\u52b1\u5de5\u7a0b\u4e0e\u5965\u5fb7\u8d5b\u884c\u4e3a\u52a8\u529b\u5b66\u6df1\u5ea6\u7814\u62a5"},"content":{"rendered":"<div>\n<p>\u4f5c\u8005\uff1aGo2Mars\u7684Web3\u7814\u7a76<\/p>\n<h3><strong>\u5e8f\u8a00\u2014\u2014\u5965\u5fb7\u8d5b\u7684\u201c\u5947\u70b9\u201d<\/strong><\/h3>\n<p>Web3 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\u5e74\uff0c\u5f00\u53d1\u8005\u4eec\u53d1\u73b0\u7b80\u5355\u6a21\u4eff\u5934\u90e8\u7684\u8def\u5f84\u5df2\u5f88\u96be\u4ea7\u751f\u201c\u51fa\u5708\u6548\u5e94\u201d\u3002\u8fd9\u79cd\u6536\u6548\u4e0d\u4f73\u7684\u73b0\u72b6\uff0c\u672c\u8d28\u4e0a\u662f\u6fc0\u52b1\u903b\u8f91\u4e0e\u7528\u6237\u751f\u6001\u4e4b\u95f4\u51fa\u73b0\u4e86\u6df1\u5c42\u65ad\u88c2\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u6fc0\u52b1\u71b5\u589e\u5f15\u53d1\u4e86\u4e25\u91cd\u7684\u540c\u8d28\u5316\u5185\u5377<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u5f53\u5e02\u573a\u4e0a 90% \u7684\u9879\u76ee\u90fd\u5728\u8981\u6c42\u7528\u6237\u91cd\u590d\u201c\u8de8\u94fe\u3001\u8d28\u62bc\u3001\u8f6c\u53d1\u201d\u4ee5\u83b7\u53d6\u51e0\u4e4e\u76f8\u540c\u7684\u201c\u79ef\u5206\uff08Points\uff09\u201d\u65f6\uff0c\u7528\u6237\u6ce8\u610f\u529b\u7684\u8fb9\u9645\u6536\u76ca\u5f00\u59cb\u6025\u5267\u4e0b\u964d\u3002\u8fd9\u79cd\u6a21\u5f0f\u6a21\u4eff\u5bfc\u81f4\u4e86\u6fc0\u52b1\u71b5\u589e\u2014\u2014\u5956\u52b1\u7684\u7a00\u7f3a\u6027\u88ab\u6d77\u91cf\u540c\u8d28\u5316\u9879\u76ee\u7a00\u91ca\u3002\u4ee5 Linea \\&#8221;The Surge\\&#8221; \u53ca\u968f\u540e\u6d8c\u73b0\u7684\u4e00\u4f17 L2 \u79ef\u5206\u6218\u4e3a\u4f8b\uff0c\u5f53\u7528\u6237\u53d1\u73b0\u9700\u8981\u5728\u6570\u5341\u4e2a\u903b\u8f91\u9ad8\u5ea6\u76f8\u4f3c\u7684\u534f\u8bae\u95f4\u642c\u8fd0\u6d41\u52a8\u6027\uff0c\u5374\u53ea\u80fd\u6362\u6765\u4e0d\u65ad\u7f29\u6c34\u7684\u901a\u80c0\u79ef\u5206\u65f6\uff0c\u5ba1\u7f8e\u75b2\u52b3\u4fbf\u6f14\u53d8\u6210\u4e86\u884c\u52a8\u4e0a\u7684\u201c\u8eba\u5e73\u201d\uff0c\u6fc0\u52b1\u6548\u5e94\u5728\u65e0\u4f11\u6b62\u7684\u5185\u5377\u4e2d\u6d88\u8017\u6b86\u5c3d\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u7f3a\u4e4f\u535a\u5f08\u673a\u5236\u7684\u201c\u5973\u5deb\u5f0f\u589e\u957f\u201d\u5236\u9020\u4e86\u5927\u91cf\u865a\u5047\u7e41\u8363<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u8bb8\u591a\u9879\u76ee\u65b9\u53ea\u5b66\u5230\u4e86\u201c\u4efb\u52a1\u5899\u201d\u7684\u8868\u8c61\uff0c\u5374\u5ffd\u89c6\u4e86\u6df1\u5c42\u7684\u53cd\u5973\u5deb\u535a\u5f08\uff0c\u5bfc\u81f4\u5927\u90e8\u5206\u6fc0\u52b1\u88ab\u4e13\u4e1a\u5de5\u4f5c\u5ba4\u7684\u81ea\u52a8\u5316\u811a\u672c\uff08Farmers\uff09\u5377\u8d70\u3002zkSync Era \u7684\u7ecf\u5386\u4fbf\u662f\u4e00\u4e2a\u5178\u578b\u8b66\u793a\uff1a \u5c3d\u7ba1\u8d26\u9762\u4e0a\u62e5\u6709\u8d85\u8fc7 600 \u4e07\u4e2a\u6d3b\u8dc3\u5730\u5740\uff0c\u4f46\u6570\u636e\u7a7f\u900f\u540e\u53d1\u73b0\uff0c\u7edd\u5927\u591a\u6570\u662f\u4e3a\u8585\u7f8a\u6bdb\u800c\u751f\u7684\u673a\u68b0\u4ea4\u4e92\u3002\u8fd9\u79cd\u201c\u7eb8\u9762\u7e41\u8363\u201d\u4e0d\u4ec5\u5728 TGE \u9636\u6bb5\u5f15\u53d1\u4e86\u5de8\u5927\u7684\u793e\u533a\u6cbb\u7406\u5371\u673a\uff0c\u66f4\u81f4\u547d\u7684\u662f\uff0c90% \u7684\u5730\u5740\u5728\u7a7a\u6295\u843d\u5730\u540e\u8fc5\u901f\u5f52\u96f6\uff0c\u9879\u76ee\u65b9\u9664\u4e86\u652f\u4ed8\u9ad8\u6602\u7684\u83b7\u5ba2\u6210\u672c\u5916\uff0c\u5e76\u672a\u6362\u6765\u771f\u5b9e\u7684\u751f\u6001\u6c89\u6dc0\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u4ea7\u54c1\u903b\u8f91\u4e0e\u6fc0\u52b1\u4ea4\u4e92\u7684\u201c\u8131\u8282\u201d\u8ba9\u53c2\u4e0e\u53d8\u5f97\u673a\u68b0\u5316<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u51fa\u5708\u6548\u5e94\u5f80\u5f80\u6e90\u4e8e\u4ea7\u54c1\u6838\u5fc3\u529f\u80fd\u4e0e\u5956\u52b1\u673a\u5236\u7684\u6df1\u5ea6\u8026\u5408\u3002\u5982\u679c\u5965\u5fb7\u8d5b\u4efb\u52a1\u53d8\u6210\u4e86\u4e0e\u4ea7\u54c1\u4ef7\u503c\u65e0\u5173\u7684\u201c\u94fe\u4e0a\u82e6\u529b\u201d\uff08\u4f8b\u5982\u8981\u6c42\u9690\u79c1\u534f\u8bae\u7528\u6237\u53bb\u63a8\u7279\u516c\u5f00\u558a\u5355\uff09\uff0c\u7528\u6237\u4fbf\u65e0\u6cd5\u4ea7\u751f\u54c1\u724c\u8ba4\u540c\u3002\u6b63\u5982\u65e9\u671f\u5728 Galxe \u7b49\u5e73\u53f0\u4e0a\u5f3a\u884c\u6346\u7ed1\u793e\u4ea4\u4efb\u52a1\u7684 DeFi \u9879\u76ee\uff0c\u5b83\u4eec\u867d\u5728\u77ed\u65f6\u95f4\u5185\u83b7\u5f97\u4e86\u6570\u4e07\u7c89\u4e1d\uff0c\u4f46\u8fd9\u79cd\u201c\u9700\u6c42\u9519\u914d\u201d\u5438\u5f15\u5230\u7684\u591a\u662f\u4f4e\u51c0\u503c\u7684\u4efb\u52a1\u515a\uff0c\u800c\u771f\u6b63\u7684\u5927\u989d\u8d44\u91d1\u7528\u6237\u5374\u56e0\u53cd\u611f\u8fd9\u79cd Web2 \u5f0f\u7684\u5f3a\u5236\u4ea4\u4e92\u800c\u6d41\u5931\u3002\u4efb\u52a1\u4e00\u65e6\u7ed3\u675f\uff0cTVL\uff08\u603b\u9501\u4ed3\u91cf\uff09\u5f80\u5f80\u4f1a\u5728 24 \u5c0f\u65f6\u5185\u51fa\u73b0\u65ad\u5d16\u5f0f\u4e0b\u8dcc\uff0c\u65e0\u6cd5\u5f62\u6210\u4efb\u4f55\u60c5\u7eea\u5171\u9e23\u6216\u7ade\u4e89\u58c1\u5792\u3002<\/p>\n<p><strong>1.2<\/strong><strong> \u5b9a\u4e49\u53cc\u8d62\uff1a\u534f\u8bae\u5355\u4f4d\u7ecf\u6d4e\u6548\u76ca (Unit Econom<\/strong><\/p>\n<p>\u8981\u6253\u7834\u201c\u6536\u6548\u4e0d\u884c\u201d\u7684\u6b7b\u5faa\u73af\uff0c\u53cc\u8d62\u7684\u903b\u8f91\u5fc5\u987b\u4ece\u201c\u4e70\u6d41\u91cf\u201d\u8f6c\u5411\u201c\u5efa\u751f\u6001\u201d\u3002\u6211\u4eec\u9700\u8981\u5728\u6570\u5b66\u5c42\u9762\u5bfb\u627e\u5e73\u8861\u70b9\uff1a<\/p>\n<p><strong>1.2.1<\/strong><strong> \u534f\u8bae\u7aef\u7684\u5355\u4f4d\u8fb9\u9645\u6536\u76ca<\/strong><\/p>\n<p>\u9879\u76ee\u65b9\u9700\u610f\u8bc6\u5230\uff0c\u5965\u5fb7\u8d5b\u7684\u672c\u8d28\u662f\u83b7\u5ba2\u6210\u672c\uff08CAC\uff09\u7684\u7cbe\u51c6<\/p>\n<p>UnitMargin=LTVuser\u2212CACincentive<\/p>\n<p>\u53ea\u6709\u5f53\u7528\u6237\u5728\u534f\u8bae\u5185\u4ea7\u751f\u7684\u957f\u671f\u624b\u7eed\u8d39\u3001\u6d41\u52a8\u6027\u7c98\u6027\u6216\u6cbb\u7406\u8d21\u732e\uff08\u5373LTV\uff09\u5927\u4e8e\u5176\u83b7\u5f97\u7684\u5956\u52b1\uff08Incentive\uff09\u65f6\uff0c\u5965\u5fb7\u8d5b\u624d\u4e0d\u518d\u662f\u5355\u7eaf\u7684\u201c\u6492\u94b1\u201d\uff0c\u800c\u662f\u53ef\u6301\u7eed\u7684\u8d44\u672c\u6269\u5f20\u3002<\/p>\n<p><strong>1.2.2<\/strong><strong> \u7528\u6237\u7aef\u7684\u603b\u6548\u7528\u6355\u83b7<\/strong><\/p>\n<p>\u7528\u6237\u5728\u672a\u6765\u5965\u5fb7\u8d5b\u7684\u8ffd\u6c42\u66f4\u52a0\u7406\u6027\u3002\u4ed6\u4eec\u4e0d\u518d\u6ee1\u8db3\u4e8e\u201c\u53ef\u80fd\u5f52\u96f6\u201d\u7684\u79ef\u5206\uff0c\u800c\u662f\u8ba1\u7b97\u7efc\u5408\u56de\u62a5\u7387\uff1a<\/p>\n<ul>\n<li>\n<p><strong>Airdrop\uff1a<\/strong> \u5373\u65f6\u53ef\u53d8\u73b0\u7684\u4ee3\u5e01\u4efd\u989d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>Utility\uff1a<\/strong> \u534f\u8bae\u957f\u671f\u6743\u76ca\uff08\u5982\u624b\u7eed\u8d39\u7ec8\u8eab\u51cf\u514d\u3001RWA \u6536\u76ca\u4efd\u989d\uff09\u3002<\/p>\n<\/li>\n<li>\n<p><strong>Reputation\uff1a<\/strong> \u94fe\u4e0a\u4fe1\u7528\u8d44\u4ea7\u3002\u8fd9\u662f\u901a\u5f80\u672a\u6765\u9876\u7ea7\u9879\u76ee\u201c\u51c6\u5165\u767d\u540d\u5355\u201d\u7684\u6838\u5fc3\u51ed\u8bc1\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>1.3<\/strong><strong>\u6838\u5fc3\u5047\u8bbe\uff1a\u6fc0\u52b1\u4e0d\u4ec5\u4ec5\u662f\u4ee3\u5e01\uff0c\u66f4\u662f\u4fe1\u7528\u3001\u7279\u6743\u4e0e\u6536\u76ca\u6743\u7684\u7efc\u5408\u4f53<\/strong><\/p>\n<p>\u5728\u6df1\u5ea6\u6fc0\u52b1\u8bbe\u8ba1\u4e2d\uff0c\u6211\u4eec\u5f7b\u5e95\u63a8\u7ffb\u4e86\u201cERC-20 \u4ee3\u5e01\u662f\u552f\u4e00\u9a71\u52a8\u529b\u201d\u7684\u65e7\u5047\u8bbe\u3002\u4e00\u4e2a\u80fd\u4ea7\u751f\u7834\u5708\u6548\u5e94\u7684\u5965\u5fb7\u8d5b\uff0c\u5fc5\u987b\u5177\u5907\u4ee5\u4e0b\u4e09\u7ef4\u5ea6\u7684\u4ef7\u503c\u652f\u6491\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u4fe1\u7528 (Credit\/Identity)<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u901a\u8fc7\u7075\u9b42\u7ed1\u5b9a\u4ee3\u5e01\uff08SBT\uff09\u6216\u94fe\u4e0a\u8eab\u4efd\u7cfb\u7edf\uff0c\u5c06\u7528\u6237\u7684\u8d21\u732e\u6c38\u4e45\u56fa\u5316\u3002\u4fe1\u7528\u4e0d\u4ec5\u662f\u52cb\u7ae0\uff0c\u66f4\u662f\u6548\u7387\u500d\u589e\u5668\uff1a\u9ad8\u4fe1\u7528\u7528\u6237\u53ef\u4ee5\u89e3\u9501\u201c\u514d\u62bc\u91d1\u501f\u8d37\u201d\u6216\u201c\u4efb\u52a1\u6743\u91cd\u52a0\u6210\u201d\uff0c\u8ba9\u771f\u5b9e\u8d21\u732e\u8005\u83b7\u5f97\u8d85\u8d8a\u811a\u672c\u7684\u4f18\u52bf\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u7279\u6743 (Privileges\/Utility)<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u5c06\u5956\u52b1\u5d4c\u5165\u4ea7\u54c1\u7684\u4f7f\u7528\u6743\u4e2d\u3002\u4f8b\u5982\uff0c\u5965\u5fb7\u8d5b\u7684\u4f18\u80dc\u8005\u53ef\u4ee5\u83b7\u5f97\u534f\u8bae\u6cbb\u7406\u7684\u201c\u5426\u51b3\u6743\u91d1\u724c\u201d\uff0c\u6216\u662f\u751f\u6001\u5185\u5176\u4ed6\u65b0\u9879\u76ee\u7684\u201c\u5934\u77ff\u4f18\u5148\u6743\u201d\u3002\u7279\u6743\u8ba9\u7528\u6237\u4ece\u201c\u8fc7\u5ba2\u201d\u53d8\u6210\u4e86\u534f\u8bae\u7684\u201c\u957f\u671f\u6301\u6709\u4eba\u201d\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u6536\u76ca\u6743 (Revenue Rights\/RWA)<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>\u968f\u7740\u5408\u89c4\u5316\u7684\u63a8\u8fdb\uff0c2026 \u5e74\u6700\u5438\u5f15\u4eba\u7684\u5965\u5fb7\u8d5b\u5f00\u59cb\u5f15\u5165\u5e95\u5c42\u5206\u7ea2\u903b\u8f91\u3002\u5956\u52b1\u4e0d\u518d\u53ea\u662f\u901a\u80c0\u7684\u7a7a\u6c14\uff0c\u800c\u662f\u951a\u5b9a\u4e86\u534f\u8bae\u771f\u5b9e\u6536\u5165\uff08\u5982 RWA \u56fd\u503a\u5229\u606f\u3001Dex \u624b\u7eed\u8d39\u5206\u6210\uff09\u3002\u8fd9\u79cd\u771f\u5b9e\u6536\u76ca\uff08Real Yield\uff09\u7684\u6ce8\u5165\uff0c\u662f\u9879\u76ee\u5728\u6ce1\u6cab\u4e2d\u8131\u9896\u800c\u51fa\u3001\u5b9e\u73b0\u771f\u6b63\u7834\u5708\u7684\u5e95\u724c\u3002<\/p>\n<h3><strong>2.<\/strong><strong>\u7528\u6237\u884c\u4e3a\u8c31\u7cfb\uff1a\u4ece\u201c\u64b8\u6bdb\u4eba\u201d\u5230\u201c\u94fe\u4e0a\u516c\u6c11\u201d<\/strong><\/h3>\n<p>\u5728\u672a\u6765\u7684\u94fe\u4e0a\u751f\u6001\u4e2d\uff0c\u4f20\u7edf\u7684\u201c\u7528\u6237\u201d\u5b9a\u4e49\u5df2\u7ecf\u74e6\u89e3\u3002\u968f\u7740\u5168\u94fe\u62bd\u8c61\uff08Chain Abstraction\uff09\u548c AI \u4ee3\u7406\uff08AI Agents\uff09\u7684\u666e\u53ca\uff0c\u5730\u5740\u80cc\u540e\u7684\u7075\u9b42\uff08\u6216\u7b97\u6cd5\uff09\u5448\u73b0\u51fa\u6781\u9ad8\u7684\u5206\u5316\u6027\u3002\u7406\u89e3\u8fd9\u4e00\u8c31\u7cfb\uff0c\u662f\u8bbe\u8ba1\u53cc\u8d62\u6fc0\u52b1\u673a\u5236\u7684\u524d\u63d0\u3002<\/p>\n<p><strong>2.1. <\/strong><strong>\u7528\u6237\u5206\u5c42\u6a21\u578b\uff1a\u57fa\u4e8e\u52a8\u673a\u4e0e\u8d21\u732e\u7684\u6df1\u5ea6\u753b\u50cf<\/strong><\/p>\n<p>\u6211\u4eec\u5c06\u5965\u5fb7\u8d5b\u7684\u53c2\u4e0e\u8005\u5212\u5206\u4e3a\u4e09\u4e2a\u5177\u6709\u4ee3\u8868\u6027\u7684\u5e0c\u814a\u5b57\u6bcd\u9636\u5c42\uff0c\u8fd9\u79cd\u5206\u5c42\u4e0d\u518d\u4ec5\u4ec5\u4f9d\u636e\u8d44\u4ea7\u89c4\u6a21\uff08TVL\uff09\uff0c\u800c\u662f\u57fa\u4e8e\u884c\u4e3a\u71b5\u503c\u4e0e\u534f\u8bae\u5fe0\u8bda\u5ea6\u3002<\/p>\n<p><strong>2.1.1 <\/strong><strong>\u73a9\u5bb6\u5206\u5c42<\/strong><\/p>\n<p><strong>Gamma &#8211; \u5957\u5229\u8005 (AI \u8d4f\u91d1\u730e\u4eba)<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u89d2\u8272\u5b9a\u4e49\uff1a<\/strong> \u8ffd\u6c42\u6781\u81f4\u6548\u7387\u7684 AI \u8d4f\u91d1\u730e\u4eba\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5fc3\u7406\u52a8\u56e0\uff1a<\/strong> \u6781\u5ea6\u7406\u6027\u3002\u4ed6\u4eec\u5bf9\u9879\u76ee\u672c\u8eab\u7684\u60c5\u6000\u6beb\u65e0\u5174\u8da3\uff0c\u552f\u4e00\u7684\u5750\u6807\u7cfb\u662f\u201c\u65e0\u98ce\u9669\u5229\u7387\u201d\u4e0e\u201c\u786e\u5b9a\u6027\u56de\u62a5\u201d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u884c\u4e3a\u8868\u73b0\uff1a<\/strong> \u5178\u578b\u7684\u811a\u672c\u9a71\u52a8\u578b\u4ea4\u4e92\uff0c\u5177\u5907\u6781\u4f4e\u7684\u5ef6\u8fdf\u3002\u4ed6\u4eec\u50cf\u5019\u9e1f\u4e00\u6837\u5728 Gas \u8d39\u6d3c\u5730\u96c6\u4f53\u51fa\u6ca1\uff0c\u884c\u4e3a\u8def\u5f84\u5448\u73b0\u9ad8\u5ea6\u7684\u6807\u51c6\u5316\u4e0e\u540c\u8d28\u5316\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>Beta &#8211; \u63a2\u7d22\u8005 (\u786c\u6838\u73a9\u5bb6)<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u89d2\u8272\u5b9a\u4e49\uff1a<\/strong> \u6df1\u5ea6\u53c2\u4e0e\u751f\u6001\u7684\u786c\u6838\u73a9\u5bb6\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5fc3\u7406\u52a8\u56e0\uff1a<\/strong> \u5171\u9e23\u9a71\u52a8\u3002\u4ed6\u4eec\u770b\u91cd\u4ea7\u54c1\u7684\u6df1\u5ea6\u4f53\u9a8c\u3001\u793e\u533a\u7684\u8eab\u4efd\u8ba4\u540c\u4ee5\u53ca\u672a\u6765\u7684\u957f\u671f\u6743\u76ca\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u884c\u4e3a\u8868\u73b0\uff1a<\/strong> \u79ef\u6781\u53c2\u4e0e\u6df1\u5ea6\u529f\u80fd\u5185\u6d4b\uff0c\u4ee5\u83b7\u53d6\u7a00\u7f3a\u52cb\u7ae0\uff08SBT\uff09\u4e3a\u8363\u3002\u4ed6\u4eec\u4f1a\u5728\u793e\u533a\u4e2d\u8f93\u51fa\u9ad8\u8d28\u91cf\u53cd\u9988\uff0c\u5176\u4ea4\u4e92\u8f68\u8ff9\u5e26\u6709\u660e\u663e\u7684\u4e2a\u4eba\u8272\u5f69\u4e0e\u4e3b\u89c2\u504f\u597d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>Alpha &#8211; \u5efa\u8bbe\u8005 (\u751f\u6001\u652f\u67f1)<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u89d2\u8272\u5b9a\u4e49\uff1a<\/strong> \u534f\u8bae\u7684\u6700\u5e95\u5c42\u652f\u6491\u4e0e\u5229\u76ca\u5171\u540c\u4f53\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5fc3\u7406\u52a8\u56e0\uff1a<\/strong> \u4e3b\u6743\u9a71\u52a8\u3002\u4ed6\u4eec\u7684\u76ee\u6807\u662f\u534f\u8bae\u7684\u957f\u671f\u6cbb\u7406\u6743\u3001\u5206\u7ea2\u6743\uff0c\u4ee5\u53ca\u6784\u5efa\u7262\u4e0d\u53ef\u7834\u7684\u5b89\u5168\u62a4\u57ce\u6cb3\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u884c\u4e3a\u8868\u73b0\uff1a<\/strong> \u8868\u73b0\u4e3a\u5927\u989d\u8d44\u91d1\u7684\u957f\u5468\u671f\u9501\u4ed3\u3001\u63d0\u4ea4\u6838\u5fc3\u4ee3\u7801\u63d0\u6848\u6216\u8fd0\u884c\u9a8c\u8bc1\u8282\u70b9\u3002\u6b63\u5982\u6587\u4e2d\u6240\u8ff0\uff1a\u201c\u4ed6\u4eec\u4e0d\u4ea7\u51fa\u566a\u58f0\uff0c\u53ea\u4ea7\u51fa\u4fe1\u7528\u3002\u201d<\/p>\n<\/li>\n<\/ul>\n<p><strong>2.1.2 <\/strong><strong>\u884c\u4e3a\u7279\u5f81\u4e0e\u91cf\u5316\u6a21\u578b<\/strong><\/p>\n<ul>\n<li>\n<p><strong>Gamma \u7684\u751f\u5b58\u6cd5\u5219\uff1a<\/strong>\u51b7\u9177\u7684\u6210\u672c\u4f30\u7b97<\/p>\n<\/li>\n<\/ul>\n<p>\u5bf9\u4e8e Gamma \u73a9\u5bb6\uff0c\u5965\u5fb7\u8d5b\u662f\u4e00\u573a\u7cbe\u5bc6\u8ba1\u7b97\u7684\u535a\u5f08\u3002\u4ed6\u4eec\u4e0d\u5728\u4e4e\u9879\u76ee\u613f\u666f\uff0c\u53ea\u5173\u6ce8\u5355\u4f4d\u65f6\u95f4\u5185\u7684\u8d44\u672c\u6548\u7387\u3002<\/p>\n<ul>\n<li>\n<p><strong>Alpha \u7684\u62a4\u57ce\u6cb3\u6548\u5e94\uff1a<\/strong>\u6743\u529b\u7684\u535a\u5f08<\/p>\n<\/li>\n<\/ul>\n<p>Alpha \u73a9\u5bb6\u4e0d\u5c51\u4e8e\u53bb\u63a8\u7279\u8f6c\u53d1\u70b9\u8d5e\uff0c\u4ed6\u4eec\u7684\u5965\u5fb7\u8d5b\u4f53\u73b0\u5728\u4e3b\u6743\u8d21\u732e\u3002\u4ed6\u4eec\u662f\u534f\u8bae\u7684\u201c\u5b9a\u6d77\u795e\u9488\u201d\uff0c\u5176\u5927\u989d\u8d44\u4ea7\u7684\u6c89\u6dc0\u548c\u6280\u672f\u8282\u70b9\u7684\u7ef4\u62a4\uff0c\u76f4\u63a5\u51b3\u5b9a\u4e86\u534f\u8bae\u7684\u5e02\u503c\u4e0a\u9650\u548c\u6297\u98ce\u9669\u80fd\u529b\u3002<\/p>\n<p><strong>2.1.3<\/strong><strong> \u8eab\u4efd\u574d\u7f29\u4e0e\u201c\u5171\u8bc6\u70bc\u91d1\u672f\u201d<\/strong><\/p>\n<p>\u8eab\u4efd\u5e76\u975e\u7ec8\u8eab\u5236\uff0c\u800c\u662f\u4e00\u4e2a\u52a8\u6001\u6f14\u53d8\u7684\u8fde\u7eed\u5149\u8c31\u3002 \u5728\u4f18\u79c0\u7684\u5965\u5fb7\u8d5b\u8bbe\u8ba1\u4e2d\uff0c\u7528\u6237\u8eab\u4efd\u4f1a\u53d1\u751f\u201c\u91cf\u5b50\u8dc3\u8fc1\u201d\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u4ece\u201c\u5957\u5229\u201d\u5411\u201c\u63a2\u7d22\u201d\u7684\u8dc3\u8fc1\uff1a<\/strong> \u4e00\u4e2a\u521d\u8877\u4ec5\u4e3a\u8585\u7f8a\u6bdb\u7684 Gamma \u73a9\u5bb6\uff0c\u5728\u6df1\u5165\u4ea4\u4e92\u8fc7\u7a0b\u4e2d\uff0c\u53ef\u80fd\u88ab\u534f\u8bae\u6781\u81f4\u7684\u4ea7\u54c1\u4f53\u9a8c\u6216\u8fc7\u786c\u7684\u6280\u672f\u903b\u8f91\u6240\u6253\u52a8\u3002\u5f53\u4ed6\u53d1\u73b0\u957f\u671f\u6301\u6709\u7684\u6536\u76ca\u9ad8\u4e8e\u5373\u65f6\u629b\u552e\u7684\u5229\u6da6\u65f6\uff0c\u4ed6\u4f1a\u4ea7\u751f\u201c\u8eab\u4efd\u574d\u7f29\u201d\u2014\u2014\u4ece\u201c\u64b8\u5b8c\u5373\u8d70\u201d\u8f6c\u53d8\u4e3a\u201c\u6df1\u5ea6\u6301\u4ed3\u201d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u9879\u76ee\u7684\u201c\u5171\u8bc6\u6355\u83b7\u529b\u201d<\/strong>\uff1a\u8fd9\u79cd\u8dc3\u8fc1\u672c\u8d28\u4e0a\u662f\u9879\u76ee\u65b9\u5bf9\u7528\u6237\u8fdb\u884c\u7684\u201c\u70bc\u91d1\u672f\u201d\u3002\u4f4e\u8d28\u9879\u76ee\u53ea\u80fd\u5438\u5f15\u5e76\u7559\u4f4f\u5957\u5229\u8005\uff0c\u6700\u7ec8\u968f\u6fc0\u52b1\u67af\u7aed\u800c\u5d29\u6e83\uff1b\u800c\u4f18\u8d28\u9879\u76ee\u5177\u5907\u4e00\u79cd\u5411\u5fc3\u529b\uff0c\u80fd\u8ba9\u201c\u8d4f\u91d1\u730e\u4eba\u201d\u6c89\u6dc0\u4e3a\u201c\u5b88\u6797\u4eba\u201d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u6838\u5fc3\u6d1e\u5bdf\uff1a<\/strong> \u6fc0\u52b1\u673a\u5236\u4e0d\u518d\u662f\u6b7b\u677f\u7684\u5206\u800c\u6cbb\u4e4b\uff0c\u800c\u662f\u4e00\u4e2a\u7b5b\u9009\u3001\u8fc7\u6ee4\u5e76\u8f6c\u5316\u7684\u8fc7\u7a0b\u3002\u5b83\u627f\u8ba4 Gamma \u7684\u5b58\u5728\u4ef7\u503c\uff0c\u4f46\u5176\u7ec8\u6781\u4f7f\u547d\u662f\u5229\u7528\u6fc0\u52b1\u6760\u6746\uff0c\u8bf1\u5bfc\u7528\u6237\u5b8c\u6210\u4ece\u9010\u5229\u6563\u6237\u5230\u4ef7\u503c\u5408\u4f19\u4eba\u7684\u8de8\u5c42\u7ea7\u6f14\u53d8\u3002<\/p>\n<p><strong>2.2 \u884c\u4e3a\u70ed\u529b\u56fe\u5206\u6790\uff1a\u4e3b\u6d41 Layer 2 \u4efb\u52a1\u5b8c\u6210\u8def\u5f84\u7684\u975e\u7ebf\u6027\u7279\u5f81<\/strong><\/p>\n<p>\u5728 2024 \u5e74\u4ee5\u524d\uff0c\u5965\u5fb7\u8d5b\u7684\u4efb\u52a1\u8def\u5f84\u662f\u7ebf\u6027\u7684\uff08\u7b2c\u4e00\u6b65\uff1a\u5173\u6ce8 Twitter\uff1b\u7b2c\u4e8c\u6b65\uff1a\u8de8\u94fe\uff1b\u7b2c\u4e09\u6b65\uff1aSwap\uff09\u3002\u4f46\u5728 \u672a\u6765\uff0c\u57fa\u4e8e\u201c\u610f\u56fe\u4e2d\u5fc3\uff08Intent-centric\uff09\u201d\u7684\u8bbe\u8ba1\u8ba9\u7528\u6237\u884c\u4e3a\u70ed\u529b\u56fe\u5448\u73b0\u51fa\u663e\u8457\u7684\u975e\u7ebf\u6027\u3001\u7f51\u72b6\u7279\u5f81\u3002<\/p>\n<p><strong>2.2.1 \u4ece\u201c\u4efb\u52a1\u9a71\u52a8\u201d\u5230\u201c\u610f\u56fe\u9a71\u52a8\u201d\u7684\u8def\u5f84\u5206\u53c9<\/strong><\/p>\n<p>\u901a\u8fc7\u5bf9 Arbitrum\u3001Optimism \u53ca Base \u7b49\u4e3b\u6d41 L2 \u7684\u6700\u65b0\u6570\u636e\u6316\u6398\uff0c\u6211\u4eec\u53d1\u73b0\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u8def\u5f84\u7684\u975e\u786e\u5b9a\u6027\uff1a<\/strong> \u540c\u4e00\u4e2a\u5965\u5fb7\u8d5b\u4efb\u52a1\uff0c\u7528\u6237 A \u53ef\u80fd\u901a\u8fc7\u201c\u501f\u8d37 -&gt; \u8d28\u62bc -&gt; \u94f8\u9020\u201d\u5b8c\u6210\uff0c\u800c\u7528\u6237 B \u53ef\u80fd\u901a\u8fc7\u201c\u5168\u94fe\u805a\u5408\u5668 -&gt; \u81ea\u52a8\u7b56\u7565\u6c60\u201d\u4e00\u952e\u8fbe\u6210\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u8de8\u94fe\u70ed\u529b\u951a\u70b9\uff1a<\/strong> \u884c\u4e3a\u4e0d\u518d\u5c40\u9650\u4e8e\u5355\u4e00\u94fe\u3002\u7528\u6237\u5728 Layer 2 \u7684\u884c\u4e3a\u5f80\u5f80\u4f34\u968f\u7740\u5728 Layer 3 \u4e13\u7528\u5e94\u7528\u94fe\u4e0a\u7684\u5373\u65f6\u53cd\u9988\u3002\u4f8b\u5982\uff0c\u5728 L2 \u4ea4\u4e92 10 \u5206\u949f\u540e\uff0c\u70ed\u529b\u56fe\u663e\u793a\u7528\u6237\u4f1a\u8fc5\u901f\u5728\u5173\u8054\u7684 AI \u94fe\u4e0a\u89e6\u53d1\u81ea\u52a8\u6536\u76ca\u5206\u914d\u811a\u672c\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>2.2.2 <\/strong><strong>\u884c\u4e3a\u71b5\u503c\uff08Behavioral Entropy\uff09\u7684\u975e\u5747\u5300\u5206\u5e03<\/strong><\/p>\n<p>\u76d1\u6d4b\u6570\u636e\u663e\u793a\uff0c\u9ad8\u8d28\u91cf\u7528\u6237\uff08beta \u4e0e alpha \u9636\u5c42\uff09\u7684\u884c\u4e3a\u70ed\u529b\u56fe\u5177\u6709\u66f4\u9ad8\u7684\u201c\u590d\u6742\u71b5\u201d\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"Real Yield\" style=\"margin-left: auto;margin-right: auto\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/11\/1770817448931365.jpg?x-oss-process=image\/quality,q_50\/format,webp\" width=\"900\" height=\"503\" title=\"\u7ec8\u7ed3\u96f6\u548c\u535a\u5f08\uff1aWeb3\u6fc0\u52b1\u5de5\u7a0b\u4e0e\u5965\u5fb7\u8d5b\u884c\u4e3a\u52a8\u529b\u5b66\u6df1\u5ea6\u7814\u62a5\u63d2\u56fe\" \/><\/p>\n<ul>\n<li>\n<p><strong>\\\\gamm$$-\u5957\u5229\u8005\u7684\u70ed\u529b\u56fe\uff1a<\/strong> \u5448\u73b0\u51fa\u9ad8\u5ea6\u7684\u673a\u68b0\u89c4\u5f8b\u6027\u3002\u4ea4\u4e92\u70b9\u96c6\u4e2d\u5728\u4efb\u52a1\u8981\u6c42\u7684\u6700\u5c0f\u95ed\u73af\u5185\uff0c\u8def\u5f84\u77ed\u4fc3\u4e14\u91cd\u590d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u94fe\u4e0a\u516c\u6c11\u7684\u70ed\u529b\u56fe\uff1a<\/strong> \u5448\u73b0\u51fa\u5f25\u6563\u6027\u4e0e\u957f\u5c3e\u6027\u3002\u9664\u4e86\u5b8c\u6210\u65e2\u5b9a\u5965\u5fb7\u8d5b\u4efb\u52a1\uff0c\u4ed6\u4eec\u8fd8\u4f1a\u63a2\u7d22\u534f\u8bae\u7684\u4e8c\u7ea7\u9875\u9762\u3001\u9605\u8bfb\u94fe\u4e0a\u5b58\u8bc1\u6587\u6863\u6216\u4e0e\u751f\u6001\u5185\u7684\u5176\u4ed6 dApp \u4ea7\u751f\u8054\u52a8\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u6d1e\u5bdf<\/strong>\uff1a\u6700\u6210\u529f\u7684\u5965\u5fb7\u8d5b\u9879\u76ee\uff0c\u5176\u70ed\u529b\u56fe\u4e0d\u662f\u4e00\u6761\u76f4\u7ebf\uff0c\u800c\u662f\u4e00\u4e2a\u5f15\u529b\u573a\u3002\u5b83\u80fd\u5438\u5f15\u7528\u6237\u5728\u5b8c\u6210\u65e2\u5b9a\u4efb\u52a1\u540e\uff0c\u81ea\u53d1\u5730\u505c\u7559\u5728\u751f\u6001\u5185\u4ea7\u751f\u201c\u8ba1\u5212\u5916\u201d\u7684\u4ea4\u4e92\u3002<\/p>\n<p>\u7528\u6237\u5df2\u4e0d\u518d\u6ee1\u8db3\u4e8e\u88ab\u89c6\u4e3a\u4e00\u4e2a\u201c\u94b1\u5305\u5730\u5740\u201d\u3002\u5728\u5965\u5fb7\u8d5b 3.0 \u4e2d\uff0c\u884c\u4e3a\u8c31\u7cfb\u7684\u672b\u7aef\u662f\u201c\u94fe\u4e0a\u516c\u6c11\u6743\u201d\u3002\u8fd9\u79cd\u516c\u6c11\u6743\u4e0d\u4ec5\u610f\u5473\u7740\u5956\u52b1\u5206\u53d1\uff0c\u66f4\u610f\u5473\u7740\u4e00\u79cd\u5728\u591a\u94fe\u6587\u660e\u4e2d\u7684\u8eab\u4efd\u80cc\u4e66\u3002<\/p>\n<h3><strong>3. <\/strong><strong>\u673a\u5236\u8bbe\u8ba1\uff1a\u786e\u4fdd\u201c\u53cc\u8d62\u201d\u7684\u6570\u5b66\u6a21\u578b\u4e0e\u535a\u5f08\u5e73\u8861<\/strong><\/h3>\n<p>\u5728 Web3 \u7684\u6f14\u8fdb\u53f2\u4e0a\uff0c\u65e9\u671f\u7684\u5965\u5fb7\u8d5b\u5f80\u5f80\u56e0\u9677\u5165\u201c\u5e9e\u6c0f\u50f5\u5c40\u201d\u800c\u5907\u53d7\u8bdf\u75c5\uff1a\u9879\u76ee\u65b9\u7528\u672a\u6765\u7684\u901a\u80c0\u9884\u671f\u6362\u53d6\u5f53\u4e0b\u7684\u865a\u5047\u7e41\u8363\u3002\u8981\u8df3\u51fa\u8fd9\u4e2a\u602a\u5708\uff0c\u6838\u5fc3\u5728\u4e8e\u5b9e\u73b0\u6fc0\u52b1\u76f8\u5bb9\uff08Incentive Compatibility\uff09\u3002\u8fd9\u610f\u5473\u7740\u6211\u4eec\u9700\u8981\u901a\u8fc7\u4e25\u5bc6\u7684\u6570\u5b66\u6a21\u578b\uff0c\u786e\u4fdd\u7528\u6237\u5728\u8ffd\u6c42\u81ea\u8eab\u5229\u76ca\u6700\u5927\u5316\u7684\u8def\u5f84\uff0c\u4e0e\u534f\u8bae\u5b9e\u73b0\u957f\u671f\u5065\u5eb7\u53d1\u5c55\u7684\u8def\u5f84\u5b8c\u5168\u91cd\u5408\u3002<\/p>\n<p><strong>3.1 \u6fc0\u52b1\u76f8\u5bb9\u65b9\u7a0b\uff08The IC Constraint\uff09\uff1a\u91cd\u6784\u6210\u672c\u4e0e\u6536\u76ca\u7684\u535a\u5f08<\/strong><\/p>\n<p>\u4f20\u7edf\u7684\u7a7a\u6295\u6a21\u5f0f\u4e2d\uff0c\u5973\u5deb\u653b\u51fb\uff08Sybil Attack\uff09\u7684\u8fb9\u9645\u6210\u672c\u51e0\u4e4e\u4e3a\u96f6\u3002\u4e3a\u4e86\u4fdd\u62a4\u771f\u5b9e\u8d21\u732e\u8005\u7684\u5229\u76ca\u4e0d\u88ab\u7a00\u91ca\uff0c\u672a\u6765\u5e74\u7684\u5965\u5fb7\u8d5b\u8bbe\u8ba1\u5f15\u5165\u4e86\u57fa\u4e8e\u535a\u5f08\u8bba\u7684 IC \u7ea6\u675f\u65b9\u7a0b\u3002<\/p>\n<p><strong>\u6838\u5fc3\u535a\u5f08\u6a21\u578b<\/strong><\/p>\n<p>\u8bbe R(c)\u4e3a\u8bda\u5b9e\u7528\u6237\u8fdb\u884c\u771f\u5b9e\u4ea4\u4e92\u65f6\u83b7\u5f97\u7684\u7efc\u5408\u5956\u52b1\uff0cC(c) \u4e3a\u5176\u4ea7\u751f\u7684\u786c\u6027\u6210\u672c\uff08\u5305\u62ec Gas\u3001\u6ed1\u70b9\u3001\u8d44\u91d1\u5360\u7528\u65f6\u95f4\u7b49\uff09\u3002\u540c\u65f6\uff0c\u8bbe E[R(s) \u4e3a\u5973\u5deb\u653b\u51fb\u8005\u901a\u8fc7\u81ea\u52a8\u5316\u811a\u672c\u6a21\u62df\u4ea4\u4e92\u83b7\u5f97\u7684\u671f\u671b\u6536\u76ca\uff0cC(s) \u4e3a\u5176\u653b\u51fb\u6210\u672c\uff08\u5305\u62ec\u670d\u52a1\u5668\u3001IP \u6c60\u3001\u9632\u68c0\u6d4b\u7b97\u6cd5\u53ca\u88ab\u6e05\u6d17\u540e\u7684\u6c89\u6ca1\u6210\u672c\uff09\u3002<\/p>\n<p><strong>\u5b9e\u73b0\u53cc\u8d62\u7684\u7eb3\u4ec0\u5747\u8861\u70b9\u5fc5\u987b\u6ee1\u8db3\uff1a<\/strong><\/p>\n<p><strong>2.0<\/strong><strong> \u65f6\u4ee3\u7684\u5e72\u9884\u4e0e\u8fdb\u5316\uff1a<\/strong><\/p>\n<ol>\n<li>\n<p><strong>\u6781\u5ea6\u63d0\u9ad8 C(s)\uff08\u653b\u51fb\u963b\u529b\uff09\uff1a<\/strong>\u672a\u6765\u5e74\u7684\u9632\u5fa1\u5c42\u4e0d\u518d\u4f9d\u8d56\u7b80\u5355\u7684\u9ed1\u540d\u5355\uff0c\u800c\u662f\u5f15\u5165\u4e86AI \u884c\u4e3a\u71b5\u68c0\u6d4b\u3002\u7cfb\u7edf\u4f1a\u5206\u6790\u4ea4\u4e92\u7684\u65f6\u7a7a\u5206\u5e03\u3001\u8d44\u91d1\u94fe\u8def\u7684\u5173\u8054\u71b5\u4ee5\u53ca\u64cd\u4f5c\u7684\u201c\u62df\u4eba\u6027\u201d\u3002\u5bf9\u4e8e\u7591\u4f3c\u8d26\u53f7\uff0c\u7cfb\u7edf\u4f1a\u52a8\u6001\u5b9e\u65bd\u201cGas \u8d39\u60e9\u7f5a\u6027\u7cfb\u6570\u201d\uff0c\u5f3a\u5236\u5176\u5728\u975e\u4e3b\u6d41\u65f6\u6bb5\u7f34\u7eb3\u66f4\u9ad8\u7684\u4ea4\u6613\u8d39\uff0c\u4ece\u800c\u76f4\u63a5\u6467\u6bc1\u811a\u672c\u7684\u5355\u4f4d\u76c8\u5229\u80fd\u529b\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6df1\u5ea6\u4f18\u5316 R(c)\uff08\u6536\u76ca\u7ed3\u6784\uff09\uff1a<\/strong> \u5956\u52b1\u6c60\u7531\u201c\u7eaf\u6cbb\u7406\u4ee3\u5e01\u201d\u8f6c\u5411\u201c\u6df7\u5408\u6743\u76ca\u5305\u201d\u3002\u8fd9\u5305\u62ec\uff1a\u73b0\u91d1\u6d41\u6743\uff1a \u76f4\u63a5\u5206\u914d\u534f\u8bae\u624b\u7eed\u8d39\u7684\u5206\u7ea2\uff08Real Yield\uff09\u3002\u7279\u6743\u8d44\u4ea7\uff1a \u6c38\u4e45\u6027\u624b\u7eed\u8d39\u51cf\u514d\uff08Gas Rebate\uff09\u6216\u8de8\u534f\u8bae\u501f\u8d37\u7684\u5229\u606f\u52a0\u6210\u3002\u6cbb\u7406\u6760\u6746\uff1a \u9488\u5bf9\u957f\u671f\u6301\u6709\u7684\u7528\u6237\u7ed9\u4e88\u6cbb\u7406\u6743\u91cd\u52a0\u6210\uff0c\u8ba9\u201c\u771f\u5b9e\u53c2\u4e0e\u201d\u4e0d\u4ec5\u4ea7\u751f\u8d22\u5bcc\uff0c\u66f4\u4ea7\u751f\u6743\u529b\u3002<\/p>\n<\/li>\n<\/ol>\n<p><strong>3.2 <\/strong><strong>\u52a8\u6001\u96be\u5ea6\u8c03\u8282\u673a\u5236 (Dynamic Difficulty Adjustment, DDA)<\/strong><\/p>\n<p>\u672a\u6765\u7684\u5965\u5fb7\u8d5b\u4e0d\u518d\u662f\u4e00\u4efd\u9759\u6001\u7684\u4efb\u52a1\u6e05\u5355\u3002\u501f\u9274\u6bd4\u7279\u5e01\u7684\u96be\u5ea6\u8c03\u6574\u7b97\u6cd5\uff0c\u5148\u8fdb\u534f\u8bae\u5f00\u59cb\u5b9e\u65bd\u52a8\u6001\u96be\u5ea6\u8c03\u8282\uff08DDA\uff09\u3002<\/p>\n<p><strong>\u8fd0\u4f5c\u903b\u8f91\uff1a<\/strong><\/p>\n<p>\u5f53\u5965\u5fb7\u8d5b\u8fdb\u5165\u7206\u53d1\u671f\uff0c\u5168\u7f51\u4ea4\u4e92\u5730\u5740\u6570\u548c\u603b\u9501\u4ed3\u91cf\uff08TVL\uff09\u77ed\u65f6\u95f4\u5185\u6fc0\u589e\u65f6\uff0c\u7cfb\u7edf\u4f1a\u81ea\u52a8\u611f\u77e5\u5230\u201c\u70ed\u5ea6\u8fc7\u8f7d\u201d\u3002\u6b64\u65f6\uff0c\u79ef\u5206\u6355\u83b7\u7b97\u6cd5\u4f1a\u81ea\u52a8\u89e6\u53d1\u96be\u5ea6\u4e0a\u8c03\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u8d44\u91d1\u9608\u503c\u9012\u589e\uff1a <\/strong>\u83b7\u5f97\u540c\u7b49\u79ef\u5206\u6240\u9700\u7684\u4ea4\u4e92\u91d1\u989d\u6216\u6d41\u52a8\u6027\u9501\u5b9a\u671f\u968f\u4e4b\u589e\u52a0\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u4efb\u52a1\u590d\u6742\u5ea6\u5347\u7ea7\uff1a<\/strong> \u4ece\u7b80\u5355\u7684\u201c\u4e00\u952e Swap\u201d\u8f6c\u53d8\u4e3a\u201c\u591a\u534f\u8bae\u7ec4\u5408\u7b56\u7565\u201d\uff08\u4f8b\u5982\uff1a\u5728 A \u534f\u8bae\u501f\u51fa\uff0c\u5728 B \u534f\u8bae\u8d28\u62bc\uff0c\u5728 C \u534f\u8bae\u63d0\u4f9b\u5bf9\u51b2\uff09\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u53cc\u8d62\u903b\u8f91\uff1a<\/strong><\/p>\n<ul>\n<li>\n<p>\u5bf9\u534f\u8bae\uff1a DDA \u50cf\u662f\u4e00\u4e2a\u5b89\u5168\u9600\uff0c\u9632\u6b62\u77ac\u65f6\u6d8c\u5165\u7684\u6295\u673a\u6d41\u91cf\u51b2\u57ae\u6d41\u52a8\u6027\u6c60\uff0c\u907f\u514d\u4e86\u56e0\u201c\u5956\u52b1\u8017\u5c3d\u201d\u5bfc\u81f4\u7684\u65ad\u5d16\u5f0f\u5d29\u76d8\u3002<\/p>\n<\/li>\n<li>\n<p>\u5bf9 alpha-\u516c\u6c11\uff1a \u5b83\u4fdd\u62a4\u4e86\u90a3\u4e9b\u65e9\u671f\u3001\u7a33\u5b9a\u7684\u5efa\u8bbe\u8005\u3002\u56e0\u4e3a\u9ad8\u96be\u5ea6\u4efb\u52a1\u5929\u7136\u7b5b\u9009\u6389\u4e86\u7f3a\u4e4f\u4e13\u4e1a\u80fd\u529b\u7684\u201c\u7f8a\u6bdb\u515a\u201d\uff0c\u4f7f\u5f97\u5956\u52b1\u4efd\u989d\u66f4\u7cbe\u51c6\u5730\u6d41\u5411\u9ad8\u51c0\u503c\u7684\u771f\u5b9e\u7528\u6237\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>3.3<\/strong><strong>\u4ef7\u503c\u8bc1\u660e\u6a21\u578b (Proof of Value, PoV)<\/strong><\/p>\n<p>\u5728\u5965\u5fb7\u8d5b 3.0 \u4e2d\uff0c\u201c\u5730\u5740\u6570\u201d\u88ab\u5f7b\u5e95\u5224\u5b9a\u4e3a\u865a\u8363\u6307\u6807\uff08Vanity Metrics\uff09\u3002\u9879\u76ee\u65b9\u5f00\u59cb\u5168\u9762\u8f6c\u5411 PoV \u6a21\u578b\uff0c\u5176\u6838\u5fc3\u662f\u8861\u91cf\u8d21\u732e\u5bc6\u5ea6\uff08Contribution Density\uff09\u3002<\/p>\n<p><strong>\u8d21\u732e\u5bc6\u5ea6\u516c\u5f0f\uff1a<\/strong><\/p>\n<p>\u6211\u4eec\u5b9a\u4e49\u8d21\u732e\u5bc6\u5ea6 D \u4e3a\uff1a<\/p>\n<p>D=\u2211(Liquidity\u00d7Time)+\u03b3\u00d7Governance_ActivityTotal_Reward<\/p>\n<ul>\n<li>\n<p><strong>Liquidity \uff08\u8d44\u672c\u7c98\u6027\uff09\uff1a<\/strong> \u8861\u91cf\u7528\u6237\u8d44\u91d1\u5728\u751f\u6001\u5185\u7684\u201c\u6c89\u6dc0\u65f6\u957f\u201d\uff0c\u800c\u975e\u201c\u8fdb\u573a\u5373\u8d70\u201d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>gamma\uff08\u793e\u533a\u8d21\u732e\u56e0\u5b50\uff09\uff1a<\/strong> \u8fd9\u662f\u4e00\u4e2a\u8c03\u8282\u53d8\u91cf\u3002\u5bf9\u4e8e\u6d3b\u8dc3\u53c2\u4e0e\u6cbb\u7406\u6295\u7968\u3001\u64b0\u5199\u6280\u672f\u6587\u6863\u6216\u5728\u793e\u4ea4\u7f51\u7edc\u4ea7\u751f\u771f\u5b9e\u6b63\u9762\u8f90\u5c04\u7684\u7528\u6237\uff0cgamma \u7684\u52a0\u6210\u53ef\u4ee5\u8fbe\u5230 2x \u751a\u81f3\u66f4\u9ad8\u3002<\/p>\n<\/li>\n<li>\n<p><strong>Total Rewards\uff1a<\/strong> \u4f5c\u4e3a\u5206\u6bcd\uff0c\u65e8\u5728\u5e73\u8861\u901a\u80c0\uff0c\u786e\u4fdd\u5355\u4f4d\u5956\u52b1\u7684\u4ef7\u503c\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u53cc\u8d62\u6df1\u5ea6\u89e3\u6790\uff1a<\/strong><\/p>\n<p>\u901a\u8fc7 PoV \u6a21\u578b\uff0c\u9879\u76ee\u65b9\u83b7\u5f97\u7684\u4e0d\u518d\u662f\u4e00\u5f20\u5f20\u51b0\u51b7\u7684\u94b1\u5305\u5730\u5740\u5217\u8868\uff0c\u800c\u662f\u4e00\u4efd\u771f\u5b9e\u7684\u751f\u6001\u53c2\u4e0e\u8005\u56fe\u8c31\u3002\u7528\u6237\u5219\u53d1\u73b0\uff0c\u7531\u4e8e gamma \u56e0\u5b50\u7684\u5b58\u5728\uff0c\u4ed6\u4eec\u7684\u201c\u52b3\u52a8\u201d\u800c\u975e\u5355\u7eaf\u7684\u201c\u8d44\u672c\u201d\u4e5f\u80fd\u83b7\u5f97\u6781\u9ad8\u56de\u62a5\u3002\u8fd9\u79cd\u673a\u5236\u5b9e\u73b0\u4e86\u8d44\u672c\u6548\u7387\u4e0e\u4eba\u7c7b\u521b\u9020\u529b\u7684\u548c\u8c10\u5171\u632f\uff0c\u786e\u4fdd\u4e86\u5965\u5fb7\u8d5b\u4e0d\u518d\u662f\u4e00\u573a\u201c\u6570\u5b57\u6e38\u620f\u201d\uff0c\u800c\u662f\u4e00\u6b21\u771f\u5b9e\u7684\u4ef7\u503c\u5171\u521b\u8fc7\u7a0b\u3002<\/p>\n<h3><strong>4. \u6280\u672f\u652f\u67f1\uff1a\u57fa\u4e8e\u884c\u4e3a\u611f\u77e5\u7684 ZK \u6fc0\u52b1\u5e95\u5c42\u534f\u8bae<\/strong><\/h3>\n<p>\u5728\u672a\u6765\u7684\u8303\u5f0f\u8f6c\u6362\u4e2d\uff0c\u5965\u5fb7\u8d5b\u4e0d\u518d\u662f\u524d\u7aef\u7684\u201c\u4efb\u52a1\u5899\u201d\uff0c\u800c\u662f\u4e00\u4e2a\u80fd\u591f\u81ea\u52a8\u6355\u83b7\u3001\u5206\u6790\u5e76\u8f6c\u5316\u7528\u6237\u884c\u4e3a\u7684\u5e95\u5c42\u534f\u8bae\u3002\u8be5\u534f\u8bae\u901a\u8fc7 ZK \u6280\u672f\u4e0e\u5168\u94fe\u62bd\u8c61\uff0c\u6784\u5efa\u4e86\u4e00\u4e2a\u4ece\u884c\u4e3a\u611f\u77e5\u5230\u7cbe\u51c6\u6fc0\u52b1\u7684\u95ed\u73af\u3002<\/p>\n<p><strong>4.1<\/strong><strong> \u884c\u4e3a\u611f\u77e5\u5f15\u64ce\uff1a\u4ece\u201c\u88ab\u52a8\u6253\u5361\u201d\u5230\u201c\u5168\u94fe\u884c\u4e3a\u8ffd\u8e2a\u201d<\/strong><\/p>\n<p>\u8be5\u534f\u8bae\u7684\u6838\u5fc3\u529f\u80fd\u662f\u4f5c\u4e3a\u4e00\u4e2a\u5168\u94fe\u6570\u636e\u722c\u866b\u4e0e\u7d22\u5f15\u5668\u3002\u5b83\u4e0d\u518d\u4f9d\u8d56\u7528\u6237\u624b\u52a8\u63d0\u4ea4\u4efb\u52a1\u622a\u56fe\uff0c\u800c\u662f\u901a\u8fc7\u5e95\u5c42\u7f51\u5173\u81ea\u52a8\u8bb0\u5f55\u7528\u6237\u5728 DApp \u4e2d\u7684\u6df1\u5ea6\u4ea4\u4e92\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u5168\u7ef4\u884c\u4e3a\u5efa\u6a21\uff1a<\/strong> \u534f\u8bae\u53ef\u4ee5\u5b9e\u65f6\u6293\u53d6\u7528\u6237\u5728\u94fe\u4e0a\u7684\u6d41\u52a8\u6027\u6df1\u5ea6\u3001\u4ea4\u6613\u9891\u6b21\u3001\u6cbb\u7406\u53c2\u4e0e\u5ea6\uff0c\u751a\u81f3\u5728\u4ea7\u54c1\u524d\u7aef\u7684\u505c\u7559\u65f6\u957f\uff08\u901a\u8fc7\u96f6\u77e5\u8bc6\u94fe\u4e0b\u8bc1\u660e\uff09\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u52a8\u6001\u6743\u91cd\u5206\u6790\uff1a<\/strong> \u534f\u8bae\u4f1a\u5bf9\u8fd9\u4e9b\u884c\u4e3a\u8fdb\u884c\u591a\u7ef4\u5efa\u6a21\uff0c\u5206\u6790\u51fa\u8be5\u7528\u6237\u662f\u201c\u957f\u671f\u6301\u6709\u8005\uff08HODL\uff09\u201d\u3001\u201c\u9ad8\u9891\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u201d\u8fd8\u662f\u201c\u6df1\u5ea6\u6cbb\u7406\u53c2\u4e0e\u8005\u201d\u3002\u8fd9\u79cd\u57fa\u4e8e\u771f\u5b9e\u4ea4\u4e92\u7684\u5206\u6790\uff0c\u8ba9\u5965\u5fb7\u8d5b\u6a21\u5f0f\u4ece\u201c\u673a\u68b0\u4efb\u52a1\u201d\u8fdb\u5316\u4e3a\u201c\u884c\u4e3a\u52cb\u7ae0\u201d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>4.2<\/strong><strong>ZK-Proof \u9a71\u52a8\u7684\u9690\u79c1\u5206\u6790\u4e0e\u7b5b\u9009<\/strong><\/p>\n<p>\u5728\u83b7\u53d6\u884c\u4e3a\u6570\u636e\u540e\uff0c\u534f\u8bae\u901a\u8fc7 ZK-Proof\uff08\u96f6\u77e5\u8bc6\u8bc1\u660e\uff09\u6280\u672f\uff0c\u5728\u4e0d\u6cc4\u9732\u7528\u6237\u94b1\u5305\u7ec6\u8282\u548c\u9690\u79c1\u6570\u636e\uff08PII\uff09\u7684\u524d\u63d0\u4e0b\uff0c\u5b9e\u73b0\u7cbe\u51c6\u7b5b\u9009\u3002<\/p>\n<ul>\n<li>\n<p><strong>ZK-Credentials \u4fe1\u7528\u80cc\u4e66\uff1a<\/strong> \u7528\u6237\u65e0\u9700\u201c\u9732\u8138\u201d\u6216\u66b4\u9732\u8d44\u4ea7\u660e\u7ec6\u3002\u901a\u8fc7\u8be5\u5e95\u5c42\u534f\u8bae\uff0c\u7528\u6237\u53ef\u4ee5\u5411\u9879\u76ee\u65b9\u51fa\u793a\u7531\u534f\u8bae\u751f\u6210\u7684\u201c\u9ad8\u51c0\u503c\u7528\u6237\u8bc1\u660e\u201d\u6216\u201c\u8d44\u6df1 DeFi \u73a9\u5bb6\u8bc1\u660e\u201d\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u7b5b\u9009\u6548\u5e94\u4e0e\u53cd\u5973\u5deb\uff1a<\/strong> \u534f\u8bae\u5141\u8bb8\u9879\u76ee\u65b9\u8bbe\u5b9a\u201c\u9ad8\u7ea7\u51c6\u5165\u95e8\u69db\u201d\u3002\u4f8b\u5982\uff0c\u901a\u8fc7 ZK-STARKs \u9a8c\u8bc1\u7528\u6237\u5728\u8fc7\u53bb 180 \u5929\u5185\u7684\u975e\u91cd\u590d\u6027\u4ea4\u4e92\uff0c\u751f\u6210\u201c\u552f\u4e00\u771f\u5b9e\u4eba\u7c7b\u8bc1\u660e\u201d\u3002\u8fd9\u4ece\u5e95\u5c42\u9501\u6b7b\u4e86\u81ea\u52a8\u5316\u811a\u672c\uff08Farmers\uff09\u7684\u7a7a\u95f4\uff0c\u786e\u4fdd\u6fc0\u52b1\u53ea\u4f1a\u6d41\u5411\u90a3\u4e9b\u88ab\u534f\u8bae\u8bc6\u522b\u4e3a\u201c\u9ad8\u8d28\u91cf\u884c\u4e3a\u201d\u7684\u771f\u5b9e\u5b9e\u4f53\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>4.3 <\/strong><strong>\u610f\u56fe\u5bfc\u5411\u4e0b\u7684\u5168\u94fe\u62bd\u8c61\u6fc0\u52b1 (Intent-centric &amp; Abstraction)<\/strong><\/p>\n<p>\u8be5\u534f\u8bae\u4e0d\u4ec5\u8bb0\u5f55\u884c\u4e3a\uff0c\u8fd8\u901a\u8fc7\u610f\u56fe\u5f15\u64ce\uff08Intent Engine\uff09\u7b80\u5316\u53c2\u4e0e\u8def\u5f84\uff0c\u5b9e\u73b0\u4ea4\u4e92\u5373\u6fc0\u52b1\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u610f\u56fe\u9a71\u52a8\u7684\u81ea\u52a8\u4ea4\u4e92\uff1a<\/strong> \u7528\u6237\u53ea\u9700\u8868\u8fbe\u201c\u6211\u8981\u53c2\u4e0e\u8be5\u534f\u8bae\u7684\u6d41\u52a8\u6027\u6fc0\u52b1\u201d\u8fd9\u4e00\u610f\u56fe\uff0c\u5e95\u5c42\u534f\u8bae\u4f1a\u81ea\u52a8\u534f\u8c03\u8de8\u94fe\u8d44\u4ea7\u8f6c\u79fb\u3001Gas \u8d39\u5e73\u8861\u53ca\u5408\u7ea6\u8c03\u7528\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5373\u65f6\u8f6c\u5316\u4e0e\u53cc\u8d62\uff1a<\/strong> \u8fd9\u79cd\u201c\u4ea4\u4e92\u65e0\u611f\u3001\u6fc0\u52b1\u81ea\u52a8\u201d\u7684\u6a21\u5f0f\uff0c\u8ba9\u7528\u6237\u4e0d\u518d\u88ab\u7e41\u7410\u7684\u94fe\u4e0a\u6b65\u9aa4\u56f0\u6270\uff1b\u800c\u9879\u76ee\u65b9\u901a\u8fc7\u5e95\u5c42\u534f\u8bae\u6355\u83b7\u7684\u662f\u7528\u6237\u6700\u771f\u5b9e\u7684\u6838\u5fc3\u610f\u56fe\uff0c\u4e0d\u4ec5\u63d0\u5347\u4e86\u8f6c\u5316\u7387\uff0c\u66f4\u8ba9\u5965\u5fb7\u8d5b\u6a21\u5f0f\u771f\u6b63\u56de\u5f52\u5230\u4e86\u4ea7\u54c1\u4ef7\u503c\u672c\u8eab\u3002<\/p>\n<\/li>\n<\/ul>\n<h3><strong>5.<\/strong><strong>\u672a\u6765\u6f14\u5316\u2014\u2014\u4ece\u201c\u8425\u9500\u6d3b\u52a8\u201d\u5230\u201c\u5e38\u6001\u5316\u6fc0\u52b1\u534f\u8bae\u201d<\/strong><\/h3>\n<p>\u672a\u6765\u7684\u5965\u5fb7\u8d5b\u5c06\u5f7b\u5e95\u544a\u522b\u201c\u9650\u65f6\u6027\u201d\u7279\u5f81\uff0c\u6f14\u53d8\u4e3a\u534f\u8bae\u4ee3\u7801\u5c42\u9762\u7684\u5e38\u9a7b\u589e\u957f\u6a21\u5757 (Native Incentive Layer)\u3002<\/p>\n<p><strong>5.1 \u5d4c\u5165\u5f0f\u6fc0\u52b1 (GaaS: Growth-as-a-Service)<\/strong><\/p>\n<p>\u5965\u5fb7\u8d5b\u5c06\u4e0d\u518d\u662f\u4e00\u4e2a\u7f51\u9875\uff0c\u800c\u662f\u5d4c\u5165\u5728\u667a\u80fd\u5408\u7ea6\u4e2d\u7684\u52a8\u6001\u5956\u52b1\u903b\u8f91\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u6f14\u53d8\uff1a<\/strong> \u53ea\u8981\u7528\u6237\u4e0e\u534f\u8bae\u4ea7\u751f\u6b63\u9762\u4ef7\u503c\uff08\u5982\uff1a\u51cf\u5c11\u6ed1\u70b9\u3001\u63d0\u4f9b\u957f\u671f\u6d41\u52a8\u6027\uff09\uff0c\u5408\u7ea6\u4f1a\u81ea\u52a8\u8bc6\u522b\u5e76\u5b9e\u65f6\u5206\u914d\u5956\u52b1\u3002\u5965\u5fb7\u8d5b\u53d8\u6210\u4e86\u534f\u8bae\u7684\u201c\u81ea\u52a8\u9a7e\u9a76\u6a21\u5f0f\u201d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>5.2<\/strong><strong>\u8de8\u534f\u8bae\u201c\u4fe1\u7528\u4e50\u9ad8\u201d (Interoperable Incentives)<\/strong><\/p>\n<p>\u672a\u6765\u7684\u5965\u5fb7\u8d5b\u79ef\u5206\u5c06\u5177\u5907\u53ef\u79fb\u690d\u6027\u3002\u4f60\u5728 A \u501f\u8d37\u534f\u8bae\u7684\u5965\u5fb7\u8d5b\u8868\u73b0\uff0c\u4f1a\u901a\u8fc7 ZK \u8bc1\u660e\u8f6c\u5316\u4e3a B \u793e\u4ea4\u534f\u8bae\u7684\u521d\u59cb\u7b49\u7ea7\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u7ec8\u6781\u5f62\u6001\uff1a<\/strong> \u4e00\u4e2a\u5168\u751f\u6001\u901a\u7528\u7684\u201c\u94fe\u4e0a\u8d21\u732e\u5206\u201d\u5c06\u53d6\u4ee3\u788e\u7247\u5316\u7684\u79ef\u5206\u3002\u8fd9\u79cd\u8de8\u534f\u8bae\u8054\u52a8\u5c06\u4fc3\u6210 Web3 \u751f\u6001\u4ece\u201c\u5b58\u91cf\u4e92\u5272\u201d\u5411\u201c\u589e\u91cf\u5171\u5efa\u201d\u7684\u7ec8\u6781\u8de8\u8d8a\uff0c\u5b9e\u73b0\u771f\u6b63\u610f\u4e49\u4e0a\u7684\u5168\u7403\u94fe\u4e0a\u5171\u548c\u3002<\/p>\n<\/li>\n<\/ul>\n<h3><strong>6. <\/strong><strong>\u5b9e\u6218\u6267\u884c\u6307\u5357 (The Executive Playbook)<\/strong><\/h3>\n<p>\u5965\u5fb7\u8d5b\u4e0d\u518d\u662f\u201c\u53d1\u5b8c\u5373\u8d70\u201d\u7684\u6492\u94b1\u6e38\u620f\uff0c\u800c\u662f\u4e00\u573a\u6781\u5176\u7cbe\u5bc6\u7684\u751f\u6001\u5f15\u6d41\u4e0e\u8d44\u672c\u56fa\u5316\u5de5\u7a0b\u3002\u5bf9\u4e8e\u9879\u76ee\u65b9\u800c\u8a00\uff0c\u6267\u884c\u529b\u7684\u6838\u5fc3\u5728\u4e8e\u5e73\u8861\u201c\u6d41\u91cf\u7684\u7206\u53d1\u529b\u201d\u4e0e\u201c\u7cfb\u7edf\u7684\u6297\u538b\u6027\u201d\u3002\u4ee5\u4e0b\u662f\u786e\u4fdd\u53cc\u8d62\u5c40\u9762\u7684 10 \u6761\u6267\u884c\u91d1\u5f8b\u4e0e\u5b9e\u64cd\u6846\u67b6\u3002<\/p>\n<p><strong>6.1<\/strong><strong> \u6838\u5fc3 KPI \u7684\u8303\u5f0f\u8f6c\u79fb\uff1a\u4ece\u201c\u865a\u8363\u201d\u8f6c\u5411\u201c\u786c\u6838\u201d<\/strong><\/p>\n<p>\u4e0d\u8981\u518d\u88ab\u63a8\u7279\u7c89\u4e1d\u6570\u548c\u5730\u5740\u6570\u6240\u8ff7\u60d1\u3002\u5728\u610f\u56fe\u5f15\u64ce\u53ef\u4ee5\u4f4e\u6210\u672c\u6a21\u62df\u6570\u767e\u4e07\u5730\u5740\u7684\u672a\u6765\u91cc\uff0c\u8fd9\u4e9b\u6307\u6807\u6781\u6613\u9020\u5047\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u6307\u6807 A\uff1a<\/strong>Sticking TVL\uff08\u7c98\u6027\u8d44\u91d1\u5360\u6bd4\uff09\u3002 \u8ba1\u7b97\u516c\u5f0f\u4e3a\uff1a<\/p>\n<\/li>\n<\/ul>\n<p>RetentionRatio=TVLT+90TVLPeak<\/p>\n<p>\u5982\u679c\u8be5\u6bd4\u4f8b\u4f4e\u4e8e 20%\uff0c\u8bf4\u660e\u6fc0\u52b1\u673a\u5236\u8bbe\u8ba1\u5b58\u5728\u4e25\u91cd\u7f3a\u9677\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u6307\u6807 B\uff1a<\/strong>Net Contribution Score\uff08\u51c0\u8d21\u732e\u5f97\u5206\uff09\u3002 \u5373\u5355\u4e2a\u5730\u5740\u4ea7\u751f\u7684\u534f\u8bae\u624b\u7eed\u8d39\u603b\u548c\u4e0e\u5176\u83b7\u5f97\u7684\u6fc0\u52b1\u6210\u672c\u4e4b\u6bd4\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6307\u6807 C\uff1a<\/strong>\u6cbb\u7406\u6d3b\u8dc3\u71b5\u503c\u3002 \u8861\u91cf\u5965\u5fb7\u8d5b\u7528\u6237\u5728 Snapshot \u6216\u94fe\u4e0a\u63d0\u6848\u4e2d\u7684\u771f\u5b9e\u53c2\u4e0e\u6df1\u5ea6\uff0c\u800c\u975e\u5355\u7eaf\u7684\u5237\u7968\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>6.2<\/strong><strong>\u6a21\u5757\u5316\u4efb\u52a1\u8bbe\u8ba1\uff1a\u6784\u5efa\u9636\u68af\u5f0f\u201c\u6f0f\u6597\u201d<\/strong><\/p>\n<p>\u6700\u6210\u529f\u7684\u5965\u5fb7\u8d5b\u901a\u5e38\u91c7\u7528\u201c\u4e09\u9636\u68af\u201d\u67b6\u6784\uff0c\u65e8\u5728\u5c06\u6d77\u91cf\u6d41\u91cf\u8f6c\u5316\u4e3a\u6838\u5fc3\u516c\u6c11\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"Real Yield\" style=\"margin-left: auto;margin-right: auto\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/11\/1770817453210786.jpg?x-oss-process=image\/quality,q_50\/format,webp\" width=\"900\" height=\"491\" title=\"\u7ec8\u7ed3\u96f6\u548c\u535a\u5f08\uff1aWeb3\u6fc0\u52b1\u5de5\u7a0b\u4e0e\u5965\u5fb7\u8d5b\u884c\u4e3a\u52a8\u529b\u5b66\u6df1\u5ea6\u7814\u62a5\u63d2\u56fe1\" \/><\/p>\n<p><strong>\u57fa\u7840\u5c42 (L1) \u2014\u2014 \u7834\u51b0\u4e0e\u89e6\u8fbe<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u76ee\u6807\u53d7\u4f17\uff1a<\/strong> \u65b0\u8fdb\u7528\u6237 \/ \u6cdb Web3 \u73a9\u5bb6<\/p>\n<\/li>\n<li>\n<p><strong>\u6838\u5fc3\u4efb\u52a1\uff1a<\/strong> \u5b8c\u6210\u57fa\u7840\u4ea4\u4e92\uff08\u5982\u4e00\u952e Swap\u3001\u793e\u4ea4\u5206\u4eab\uff09<\/p>\n<\/li>\n<li>\n<p><strong>\u6fc0\u52b1\u7ed3\u6784\uff1a<\/strong> \u6388\u4e88\u975e\u540c\u8d28\u5316\u52cb\u7ae0 (SBT)\u3001\u7d2f\u79ef\u672a\u6765\u7a7a\u6295\u79ef\u5206<\/p>\n<\/li>\n<li>\n<p><strong>\u7559\u5b58\u903b\u8f91\uff1a<\/strong> \u6781\u81f4\u964d\u4f4e\u95e8\u69db\u3002\u901a\u8fc7 SBT \u5efa\u7acb\u7b2c\u4e00\u89e6\u70b9\uff0c\u8ba9\u7528\u6237\u5728\u751f\u6001\u4e2d\u7559\u4e0b\u201c\u6570\u5b57\u8db3\u8ff9\u201d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u589e\u957f\u5c42 (L2) \u2014\u2014 \u6d41\u52a8\u6027\u5f15\u64ce<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u76ee\u6807\u53d7\u4f17\uff1a<\/strong> \u6d3b\u8dc3\u4ea4\u6613\u8005 \/ \u6d41\u52a8\u6027\u63d0\u4f9b\u8005 (LP)<\/p>\n<\/li>\n<li>\n<p><strong>\u6838\u5fc3\u4efb\u52a1\uff1a <\/strong>\u6df1\u5ea6\u6d41\u52a8\u6027\u63d0\u4f9b\u3001\u7ec4\u5408\u5934\u5bf8\u7ba1\u7406\u3001\u8de8\u94fe\u8d28\u62bc<\/p>\n<\/li>\n<li>\n<p><strong>\u6fc0\u52b1\u7ed3\u6784\uff1a<\/strong> \u534f\u8bae\u539f\u751f\u4ee3\u5e01\u5956\u52b1\u3001\u5b9e\u65f6\u624b\u7eed\u8d39\u6298\u6263\u5361<\/p>\n<\/li>\n<li>\n<p><strong>\u7559\u5b58\u903b\u8f91\uff1a<\/strong> \u6536\u76ca\u7387\uff08APY\uff09\u535a\u5f08\u3002\u901a\u8fc7\u9ad8\u6548\u7387\u7684\u6536\u76ca\u9501\u6b7b\u8d44\u91d1\uff0c\u4eba\u4e3a\u589e\u52a0\u64a4\u8d44\u7684\u201c\u673a\u4f1a\u6210\u672c\u201d\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u751f\u6001\u5c42 (L3) \u2014\u2014 \u6838\u5fc3\u4e3b\u6743\u6d3e<\/strong><\/p>\n<ul>\n<li>\n<p><strong>\u76ee\u6807\u53d7\u4f17\uff1a<\/strong> \u6838\u5fc3\u8d21\u732e\u8005 \/ \u5f00\u53d1\u8005 \/ \u6cbb\u7406\u4ee3\u8868<\/p>\n<\/li>\n<li>\n<p><strong>\u6838\u5fc3\u4efb\u52a1\uff1a <\/strong>\u64b0\u5199\u6280\u672f\u6587\u6863\u3001\u63d0\u4ea4\u4ee3\u7801\u8865\u4e01\u3001\u53d1\u8d77\u6709\u6548\u6cbb\u7406\u63d0\u6848<\/p>\n<\/li>\n<li>\n<p><strong>\u6fc0\u52b1\u7ed3\u6784\uff1a <\/strong>\u6cbb\u7406\u52a0\u6743\u56e0\u5b50\u3001RWA \u6536\u76ca\u5206\u7ea2\u6743\u3001\u751f\u6001\u767d\u540d\u5355<\/p>\n<\/li>\n<li>\n<p><strong>\u7559\u5b58\u903b\u8f91\uff1a<\/strong> \u6388\u4e88\u201c\u516c\u6c11\u6743\u201d\u3002\u4e0d\u53ea\u662f\u5229\u76ca\u5206\u914d\uff0c\u66f4\u662f\u957f\u671f\u5229\u76ca\u6346\u7ed1\uff0c\u8ba9\u8d21\u732e\u8005\u6210\u4e3a\u751f\u6001\u7684\u4e3b\u4eba\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>6.3<\/strong><strong>\u6267\u884c Check-list\uff08\u4e0a\u7ebf\u524d\u5fc5\u8bfb\uff09<\/strong><\/p>\n<ol>\n<li>\n<p><strong>\u4ef7\u503c\u95ed\u73af\u68c0\u67e5\uff1a<\/strong> \u5956\u52b1\u6765\u6e90\u662f\u5426\u5305\u542b\u534f\u8bae\u81ea\u8eab\u6536\u5165\uff08Real Yield\uff09\uff1f<\/p>\n<\/li>\n<li>\n<p><strong>\u53cd\u5973\u5deb\u6df1\u5ea6\uff1a<\/strong> \u662f\u5426\u63a5\u5165\u4e86 ZK-ID \u6216\u771f\u4eba\u8bc6\u522b\u7cfb\u7edf\uff08\u5982 World ID \/ Gitcoin Passport\uff09\uff1f<\/p>\n<\/li>\n<li>\n<p><strong>\u8d44\u672c\u7c98\u6027\uff1a<\/strong> \u4efb\u52a1\u662f\u5426\u8981\u6c42\u8d44\u91d1\u5728\u534f\u8bae\u5185\u505c\u7559\u8d85\u8fc7 14 \u5929\uff1f<\/p>\n<\/li>\n<li>\n<p><strong>\u6280\u672f\u5197\u4f59\uff1a<\/strong> \u534f\u8bae\u5408\u7ea6\u662f\u5426\u80fd\u627f\u53d7\u77ac\u65f6 100 \u500d\u4e8e\u65e5\u5e38\u7684\u8c03\u7528\u91cf\uff1f<\/p>\n<\/li>\n<li>\n<p><strong>\u60c5\u7eea\u4ef7\u503c\uff1a<\/strong> \u4efb\u52a1\u53d9\u4e8b\u662f\u5426\u5177\u5907\u793e\u4ea4\u4f20\u64ad\u5c5e\u6027\uff0c\u800c\u975e\u5355\u7eaf\u7684\u201c\u6570\u5b57\u642c\u8fd0\u201d\uff1f<\/p>\n<\/li>\n<\/ol>\n<h3><strong>\u7ed3\u8bed\u2014\u2014\u4ece\u201c\u535a\u5f08\u5bf9\u6297\u201d\u5230\u201c\u4ef7\u503c\u5171\u751f\u201d<\/strong><\/h3>\n<p>\u5965\u5fb7\u8d5b\u6a21\u5f0f\uff0c\u672c\u8d28\u4e0a\u662f\u4e00\u573a\u5173\u4e8e\u7b5b\u9009\u6548\u7387\u7684\u9769\u547d\u3002\u5f53\u6211\u4eec\u5728\u6587\u4e2d\u5f15\u5165\u201c\u6fc0\u52b1\u76f8\u5bb9\u65b9\u7a0b\u201d\u4e0e\u201c\u884c\u4e3a\u71b5\u5206\u6790\u201d\u65f6\uff0c\u76ee\u7684\u4e0d\u4ec5\u662f\u4e3a\u4e86\u9632\u5fa1\u5973\u5deb\u653b\u51fb\uff0c\u66f4\u662f\u4e3a\u4e86\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u533f\u540d\u7f51\u7edc\u4e2d\uff0c\u5efa\u7acb\u4e00\u5957\u7cbe\u51c6\u7684\u4ef7\u503c\u5ea6\u91cf\u8861\u3002<\/p>\n<p>\u5728\u8fd9\u5957\u65b0\u8303\u5f0f\u4e0b\uff0c\u9879\u76ee\u65b9\u4e0e\u7528\u6237\u4e0d\u518d\u662f\u4e92\u4e3a\u5bf9\u624b\u7684\u96f6\u548c\u535a\u5f08\u8005\u3002\u901a\u8fc7\u52a8\u6001\u96be\u5ea6\u8c03\u8282\uff08DDA\uff09\u4e0e\u4ef7\u503c\u8bc1\u660e\uff08PoV\uff09\u6a21\u578b\uff0c\u6211\u4eec\u6210\u529f\u5730\u5c06\u5355\u7eaf\u7684\u8d44\u91d1\u4ea4\u4e92\u8f6c\u5316\u4e3a\u53ef\u91cf\u5316\u7684\u8d21\u732e\u5bc6\u5ea6\u3002\u8fd9\u79cd\u8f6c\u53d8\u5e26\u6765\u4e86\u4e00\u4e2a\u81f3\u5173\u91cd\u8981\u7684\u526f\u4ea7\u54c1\u2014\u2014\u94fe\u4e0a\u4fe1\u7528\uff08On-chain 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