昨天一早刚坐下吃早餐,群里有人大喊“BTC跌破10万了!”
我一口差点喷出来,整个人瞬间清醒。
ETF 净流出还在扩大,市场情绪一地鸡毛。
正准备关电脑冷静一下,却刷到 @katana 的研究贴,讲的是怎么把收入回流给 LP。
那一刻我心想——行情再抖,也得留点仓在能自己造血的系统里。
ETF这几天净流出接近20亿美金,心态的确被锤。但慌归慌,我把注意力拉回能自我造血的地方——Katana。
近期 3 个强信号:
研究侧:DefiLlama 团队刚丢出 30 页深度,直指 Katana 不是“通用 L2”,而是把交易/金库收入回流给 LP 的金融网络;
实操侧:在 Katana 上用 Yearn 金库做抵押去 Morpho 借款,出现了“被付钱去借”的体验——USDC/ETH + MORPHO + KAT 多重奖励,资金效率直接拉满;
流动性侧:Steer × Sushi 的 Points 在 Katana 开跑,ALM 策略 + 积分,把做市从“短冲”变“长跑”。
思远认为:这轮的关键词是“回流”与“地板”。
VaultBridge 这类机制把增量收益喂给活跃用户,用的人越多,池子越厚,波动越能被吞。
行情抖一抖很正常,我不劝 FOMO,但把一部分仓位放在这种能持续滚动的飞轮上,睡得更踏实。

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