DeFi vs CeFi: Ngā Rerekētanga Matua Kua Whakamāramatia
He pūnaha matua, he pūnaha whakahāngai rānei? Kia mārama ki ngā whakawhitinga i waenga i te CeFi me te DeFi, te tiaki, ngā hua, ngā tūraru, me te ture, kia taea ai e koe te whakatau mōhio mō te wāhi e tuku ai i tō moni.
He aha te CeFi?
Pūtea Kotahi (CeFi) e pā ana ki ngā papatono cryptocurrency e whakahaerehia e ngā kamupene e mahi hei pūkete i waenga i ngā kaiwhakamahi me ngā ratonga pūtea. Whakaarohia a CeFi hei tauira pūtirotiro tuku iho kua whakamahia ki te crypto: ka hangaia e koe tētahi pūkete, ka whakamana i tō tuakiri, ka tāpui moni, ā, ka whakahaere te kamupene i ngā mea katoa mōu.
Ko ngā papaaho CeFi nui rawa. Binance, Coinbase, Kraken, me Crypto.com, e mahi ana hei whakawhitinga matua (CEX). Ka pupuri rātou i ngā pukapuka ota, ka tiaki i ngā rawa o ngā kaiwhakamahi, ka whakahaere i ngā tangohanga, ā, ka ū ki ngā ture i ngā rohe e whakahaere ana rātou. Inā hoko koe i te Bitcoin i runga i te Coinbase, ka pupuri te whakawhitinga i tō Bitcoin i roto i ōna ake pūkoro tae noa ki te tango atu koe
Kei roto i te CeFi hoki ngā papatono tuku (i te wā o BlockFi, Celsius, Nexo), ratonga utu, me ngā otinga tiaki. Ko te aho kotahi he tūmahi tuatoru e whakawhirinaki ana e whakahaere i ō pūtea, ka whakatinana i ngā whakawhitinga i tō taha. Ka tukuna e tēnei tauira te māmā me te wheako kaiwhakamahi mōhiotia, engari ka whai i tētahi whakawhiringa nui: me whakawhirinaki koe ki te kamupene kia kaua e hē, e ngaro, i te taha rānei i ō rawa.
Tiaki
Ka pupuri te papatono i ō kī tūmataiti, ka whakahaere i ō pūtea. Ka whakawhirinaki koe ki tō rātou haumaru me te kaha pūtea.
KYC e hiahiatia
Me whakamanahia te tuakiri (pūkete, whakaahua-a‑kōrero, taunakitanga wāhi noho) i mua i te hoko, te hoko atu rānei.
Tauira Tūmatanui
Ka whakahaere pēnei i tētahi pēke, tētahi kaihokohoko: tautoko kiritaki, ara whakauru moni fiat, rōpū whakarite i raro i ngā ture me te whakahaere pakihi.
He aha te DeFi?
Pūtea Whakahaere Motuhake (DeFi) ka whakakapi i ngā kaiwawao ki ngā kirimana atamai, he kaupapa whakahaere whaiaro e whakatakotoria ana ki runga i ngā mekameka poraka pērā i a Ethereum. Hei utu mō te whakawhirinaki ki tētahi kamupene hei pupuri me te whakahaere i ō moni, ka taunekeneke tika koe ki te waehere tuwhera, mārama hoki e taea ana e te katoa te tirotiro me te whakamana.
Ko ngā tikanga DeFi e kapi ana i ia ratonga pūtea e kitea ana i te CeFi me te nuinga atu: te hokohoko i ngā taurewa korekore (DEXs) pērā i Uniswap, te tuku me te nama i runga i Aave rānei Morpho, te whakapai ake o te hua i runga i Beefy Finance, me stablecoin penapena. Te rerekētanga matua: ka mau tonu koe i te mana o ō taonga i ngā wā katoa.
Ko te DeFi he kore whakaaetanga (ka taea e te tangata whai putea te whakauru, kaore he KYC), ka taea te whakakotahi (ka taea te whakapiri i nga kawa penei i nga poraka Lego), me te marama (ka tuhia ia tauwhitinga ki runga i te blockchain whanui). Ko enei ahuatanga ka hanga i tetahi punaha putea e tuwhera ana, e taea ana te tirotiro, me te atete ki te aukati, engari ka whakauru ano i nga momo morearea hou kaore e kitea e nga kaiwhakamahi CeFi.
Kāore i te tiaki
Ka whakahaere koe i ō kī tūmataiti. Ka noho tonu ngā moni i tō pūkete kia tae noa koe ki te mahi tahi me tētahi kirimana atamai.
Kore whakaaetanga
Kāore he KYC, kāore he puka rēhita, kāore he here ā-rohe. Ka taea e te tangata kei te whai hononga ipurangi me te pūkete te whai wāhi.
Ka taea te whakakotahi
Ka hono ngā kawa ki a rātou anō pēnei i ngā paraka hanga. Ka nama i Aave, ka whakawhiti i Uniswap, ka tuku ki te whare taonga hua, katoa i roto i tētahi tauwhitinga.
Ngā Rerekētanga Matua: DeFi ki te CeFi
Ko te tautohe DeFi vs CeFi ehara i te mea ko wai te "pai ake", engari ko te mārama ki ngā whakawhitinga kia taea ai e koe te kōwhiri te taputapu tika mō tō āhuatanga. Kei raro nei he whakataurite taha-ki-taha puta noa i ngā āhuatanga e tino whai take ana.
| Āhuatanga | CeFi | DeFi |
|---|---|---|
| Kaitiaki | Ka pupuri te papatono i ō pūtea | Ka pupuri koe i ō kī ake |
| Mārama | Pōuri, whakawhirinaki ki ngā kerēme a te kamupene | Katoa i runga i te aho, ka taea te arotake e te tangata katoa |
| Uru | Me whai KYC, he here ā-rohe | Kāore he whakaaetanga, wātea ki te tangata katoa |
| Utu | Utu hokohoko + utu tango + whakawhitinga | Utu hinu + utu kaupapa (i te nuinga he iti ake) |
| Tere | Mā te wā tonu (pukapuka pūkete ā-roto) | Wā poraka e whakawhirinaki ana (hēkona ki meneti) |
| Uru | 0.5%–4% i runga i ngā moni pūkete pūmau | 3%–12%+ i runga i ngā moni pūkete pūmau |
| Whakahaere | Kua whakahaere, kua raihana, kua inihua (ka rerekē) | Mō te nuinga kāore i te whakahaere, ko te waehere te ture |
| Whakaora | Awhina kiritaki, tautuhi kupuhipa | Kāore he whakahoki mēnā ka ngaro ō kī |
Ngā mōrearea CeFi: Ina rahua te kaiārahi
Ko te oati matua o CeFi ko te māmā: tuku ō rawa ki tētahi kamupene e whakapono ana, ā, ka tiaki i a rātou kia haumaru. I horapa te pakaru crypto o te 2022 i taua oati mō ngā mano kaiwhakamahi. E toru ngā rahinga rongonui e whakaatu ana he aha te mōrearea o te taha kē e tohu ana i te ngoikoretanga matua o te pūtea ā-roto.
FTX. $8 Piriona i Ngaro i ngā Kiritaki
Ko te kaiwhakatū Sam Bankman-Fried i whakatau i te hara me te whiwhi i te whakatau i te 25 tau i te whare herehere. I tatari ngā kiritaki i ngā tau mō te utu wāhanga mā ngā tukanga pakaru. Te akoranga: ahakoa te papatono CeFi tino whakanuia, ka taea te kore utu i muri i ngā tatau, ā, kāore koe e mōhio kia tae ki te wā e taweretia ana.
Celsius Network. Frozen Withdrawals, Bankruptcy
I whakatairanga a Celsius i a ia anō hei "pēke mō te crypto," e tuku hua ki te 18% i runga i ngā rawa kua tāpuitia. I muri i te tirohanga, i tuku te papatono i ngā pūtea a ngā kiritaki ki ngā rautaki DeFi e piki haere ana te mōrearea me ngā haumi kāore i te māmā ki te hoko. I te wā i heke te pakanga o Terra/LUNA i whakaoho i te heke o te mākete i Hune 2022, Celsius i aukati i ngā tono katoa, ka mau $4.7 piriona i ngā rawa a ngā kiritaki.
I tono te kamupene i te rīpoata whatumanawa 11 i muri i te marama kotahi. Ko tana kaitāutanga, a Alex Mashinsky, i whai muri i te whakakāhore i te hara. Ngā kaiwhakamahi i whakawhirinaki i ā rātou penapena ki Celsius i ako i te ara uaua, ko ngā hua CeFi teitei he mea i puta mai i te mōrearea kāore i te taea te tautoko, kāore i te whakapuaki.
BlockFi. Te horapa mai i FTX
Kua utua e BlockFi te whakataunga $100 miriona a te SEC mō tana hua moni kore-rēhitatanga i te hinganga o FTX i whakapau kaha. He nui te pānga o BlockFi ki a FTX me Alameda Research, ā, i tuku kerēme kaihanga i Noema 2022, he wiki noa iho i muri i a FTX. I ngaro te uru o ngā kaiwhakamahi ki ā rātou pūtea, ā, i te mutunga ka whakapūmau te kamupene ka whiwhi te nuinga o ngā kaihoko i tētahi wāhanga iti noa o ā rātou pūtea. I whakaatu tēnei wāhanga i te pānga o te tūpono kaihoko-whakawhiti CeFi: ka taea e te hinganga o tētahi papa te horapa ki te katoa o te pūnaha matua.
Ngā mōrearea DeFi: He aha te mea ka hē
Ka whakakore a DeFi i te mōrearea o te hoa pakihi engari ka whakaurua ōna ake mōrearea. Kāore he tautoko kiritaki, kāore he tiaki i te tinihanga, ā, kāore he whatunga haumaru a te ture. Mēnā ka hē tētahi mea, he mutunga mutunga, kāore e taea te whakahoki ngā ngaro.
Ngā hapa i ngā kirimana atamai
Ko te ture te waehere, engari ka taea e te waehere he hapa. Kua pau ngā rau miriona mai i ngā kawa DeFi nā ngā whakamahinga kino. Ahakoa ngā kirimana kua arotakehia, kāore i te āhuru; ka whakaiti te arotake i te tūponotanga, engari kāore e taea te whakapūmau i te tino tika. Ko te whakaekenga piriti Wormhole 2022 ($325M) me te whakamahinga kino Euler Finance 2023 ($197M) he whakamahara mārama.
Whakawhakarite Oracle
DeFi protocols rely on price oracles (like Chainlink) to determine asset values. If an attacker manipulates oracle data, through flash loan attacks or low-liquidity exploits, they can trick a lending protocol into issuing undercollateralized loans or liquidating positions unfairly.
He huringa rākau
Ka waihanga ngā kaihanga kino i ngā tohu, ngā tikanga rānei, ka kukume i ngā tāke mā ngā oati APY tiketike, ā, ka whakawātea i te pūreke waiwai ka ngaro. He mea tino pākehā tēnei ki ngā kaupapa kāore i arotakehia i runga i ngā aho hou. Me mātua tirotiro i te hītori arotake o te tikanga, te mana o te rōpū, me te ara TVL i mua i te tāke.
Uaua & Hapa Kaiwhakamahi
DeFi demands technical knowledge: managing seed phrases, understanding token approvals, navigating gas fees, and evaluating protocol risk. A single wrong transaction, sending tokens to the wrong address, approving a malicious contract, can mean permanent loss of funds with no recourse.
Aukati i te uaua. Puritia ngā hua.
Ka hoatu e Coinstancy ki a koe te 7% APY i runga i te USDC me te whakarahi i ia ra, kaore he raka, me te tango tonu. Ko nga hua DeFi, ka tukuna ma te atanga ngawari, kaore he putea, kaore he utu hau, kaore he uaua.
Whiwhi 7% APY i runga i te USDCCeFi ki te DeFi Hua
He mea nui rawa atu i te take ka torotoro te tangata ki te DeFi ko te rerekētanga o te hua. Ka tuku ngā papatono CeFi i te APY iti APY i runga i ngā moni pūmau nā te mea ka tango rātou i tētahi tapahi nui, ka pūtea ngā mahi hātepe, ā, ka utu ngā moni tāpiritanga mō ngā kaipupuri hea. Ka tuku ngā tikanga DeFi i te nuinga o te moni whiwhi ki ngā kaiwhiwhi moni, ā, ka hua ake ngā reiti teitei tonu.
| Papamahi | Momo | USDC APY | Kati |
|---|---|---|---|
| Coinbase | CeFi | 4.0% | Kore |
| Binance Whiwhi | CeFi | 2.5%–4.5% | Ngā wā whakarerekē / 30-120 rā |
| Crypto.com | CeFi | 1.5%–3.0% | Ngā wā whakarerekē / 1-3 marama |
| Aave v3 | DeFi | 4.5%–7.0% | Kore |
| Morpho | DeFi | 5.0%–9.0% | Kore |
| Beefy Finance | DeFi | 5.0%–12.0% | Kore |
| Coinstancy | Arawhata | 7.0% | Kore, tango tonu |
He tatauranga āwhata tēnei, ā, ka rerekē i runga i ngā āhuatanga o te mākete. I whakahoutia whakamutunga i te marama o Poutū-te-rangi 2026.
Te Pai o ngā Ao Rua
Ko te tautohe a DeFi me CeFi i te nuinga ka whakaatu i tētahi rerekētanga rūpē. I te mahi, kei te puta mai he kāwai hou o ngā papamahi e whakakotahi ana ngā hua i te taumata DeFi me te wheako kaiwhakamahi i te taumata CeFi. Ka whakahaere ēnei papamahi i te uaua o te whakawhitinga ki ngā kawa DeFi i muri i te tirohanga, i te wā e hoatu ana i te kaiwhakamahi he atanga māmā, e mōhiotia ana ki te tāpiri, te whiwhi, me te tango moni.
Coinstancy i hangaia i runga i tēnei ariā. Mēnā e tono ana ki a koe ki te whakahaere pūkete, haere i ngā utu hinu, arotake kōtaha atamai mōrearea, ā, ka whakakotahi ā‑muri ā‑tōu, ka mahia e Coinstancy ngā mea katoa mōu. Ka tāpui koe i te USDC, ā, ka tohaina e te papatono ki ngā tikanga kāwanatanga DeFi kua tirotirohia hei whakaputa hua.
Te hua: 7% APY on USDC me te whakakotahi i ia rā, kāore he wā kaitiaki, me te tango tere. Ka whiwhi koe i te painga o te hua o DeFi me te kore whakahaere pūkete, utu hinu, rānei te āwangawanga o te kōwhiringa kaupapa e mau ana te nuinga o te tangata ki te taha CeFi o te taiapa.
7% APY on USDC
Ngā hua DeFi-āhua whakataetae i runga i USDC, i whakakahaia e ngā tikanga kāri i whakatūria. Ka tipu tō tōke i ia rā mā te whakakotahi aunoa.
Tango Tere
Kāore he wā ārai, kāore he tawhiti whakakā. Tukua tō USDC i ngā wā katoa, ināianei tonu. He wātea tonu tō moni.
Māmā o te Taumata CeFi
Kāore he pūkete hei whakahaere, kāore he utu hinu hei utu, kāore he kirimana atamai hei arotake. Rēhita, tāpua USDC, ka tīmata whiwhi moni.
He mea tika mōu?
Kāore he whakautanga whānui. Ko te kōwhiringa pai rawa e whakawhirinaki ana ki tō taumata wheako, tō manawanui mō te mōrearea, me ō whāinga pūtea. Whakamahia tēnei anga hei ārahi i tō whakatau.
Mā te tīmata: tīmata ki te CeFi, ki tētahi Papamahi Piriti
Mēnā he hou koe ki te crypto, timata ki tētahi whakawhitiwhiti kua whakatūpatoia pērā i Coinbase hei hoko i ō taonga tuatahi. Hei whiwhi hua, he papatono awhi pērā i Coinstancy e tuku ana i ngā hua taumata DeFi (7% APY i runga i te USDC) kāore e hiahiatia ana he mōhiotanga DeFi. Ka karo koe i te ara ako piki haere o te whakahaere kāri, ngā utu hinu, me te aromātai kaupapa.
Kaupapa: Māmā me te haumaru. Ako i ngā mātāpono i mua i te torotoro i ngā rautaki uaua ake.
Waenga: Whakaranu i ngā mea e rua
Ka mārama koe ki te mahi o ngā pūkete me ngā whakawhitinga, whakaaro ki te wehe i tō pūkete. Puritia ō rawa hokohoko ki tētahi taonga hokohoko CeFi mō te ngawari, ā, tuku i ngā moni pūmau ki ngā kaupapa kāri DeFi (rānei ko Coinstancy) mō ngā hua tiketike. He tohatoha auau: 30%–50% ki CeFi mō te hokohoko kaha, 50%–70% ki DeFi, ki ngā papatono awhiowhio rānei mō te whiwhi moni.
Taumata: Whakapai ake i te hua me te whakanui i te rerekētanga mōrearea. Kaua e pupuri i ō rawa katoa ki tētahi kaitiaki kotahi.
Arāka: Haere ki te DeFi taketake
Ngā kaiwhakamahi wheako e mārama ana ki te mōrearea o ngā kirimana atamai, ka taea te arotake i te haumaru o te kawenata, ā, e whakāhua ana ki te whakahaere i ngā pūkete pūrere me whai whakaaro ki te haere ki te ipurangi katoa. Honohono tika ki ngā kawenata pērā i Morpho me Beefy mō te hua nui rawa me te mana katoa o ō taonga.
Mea matua: Te nui rawa o nga hua me te rangatiratanga. Whakaae ko koe tonu to peeke, me to kaiwhakahaere morearea.
Te Piriti i waenganui i te DeFi me te CeFi
Ko Coinstancy e whakakotahi i ngā mea pai o ngā ao e rua: 7% APY i runga i te USDC me te whakakotahi o ia rā, kāore he here, me te tango tere. Tīmata te whiwhi moni i roto i ngā meneti.
Tīmata te whiwhi moni i te CoinstancyNgā Pātai Auau
He haumaru ake a DeFi i a CeFi?
Ka taea e au te whakamahi i te DeFi me te kore pūkete crypto?
He aha te take e teitei ake ai ngā hua DeFi i ngā hua CeFi?
He aha i pā ki te FTX, ā, he aha te take e whai pānga ana ki te CeFi?
Me utu tāke au mō ngā whiwhinga o DeFi?
He aha te ara māmā rawa ki te whiwhi hua DeFi me te kore whakahaere i ngā pūkete me ngā tikanga?
Haere tonu ki te ako
Rere ki ngā tikanga me ngā ariā kei muri i ngā hua DeFi.
He aha te APY i roto i te Crypto?
Mārama ki te mahi a te APY, APR, me te whakakotahi i te DeFi, me te aha e whai pānga ana ki ō haerenga.
Pānui Aratohu AratohuAratohu Morpho
Kua whakapai ake te tuku nama DeFi me te whakataurite a‑iwi, ngā pouaka Morpho Blue, me te whakapai ake o te reiti.
Pānui Aratohu AratohuBeefy Finance Aratohu
Kaiwhakatere hua aunoa e whakakotahi ana i ngā pūtake puta noa i ngā poraka 20+. Whakanuihia ngā hua me te whakapau kaha iti rawa.
Pānui AratohuWhakawhanake i tō mātauranga
You understand the DeFi vs CeFi trade-offs. Now earn 7% APY on USDC with Coinstancy, daily compounding, no lock-up, instant withdrawal. The bridge between DeFi yields and CeFi simplicity.
Tīmata te whiwhi moni i te CoinstancyNgā Hua DeFi. Māmā o te CeFi.
Whiwhi 7% APY i runga i te USDC me te whakakotahi i ia rā, kāore he here, me te tango tere. Tīmata i roto i ngā meneti.