据 Bitcoin.com 报道，火币 HTX 发布 2025 年储备金证明年报，HTX 表示平台已连续 38 个月公开默克尔树储备金证明（PoR），历史数据可在链上查证，资产 100% 足额兑付，USDT 沉淀增长超 150%，2025 年火币 HTX 用户 USDT 资产规模从 1 月约 6.95 亿枚增至 12 月约 17.65 亿枚，增幅约 150%。

<div>据 Bitcoin.com 报道，火币 HTX 发布 2025 年储备金证明年报，HTX 表示平台已连续 38 个月公开默克尔树储备金证明（PoR），历史数据可在链上查证，资产 100% 足额兑付，USDT 沉淀增长超 150%，2025 年火币 HTX 用户 USDT 资产规模从 1 月约 6.95 亿枚增至 12 月约 17.65 亿枚，增幅约 150%。<br><br></div>

火币 HTX 发布 2025 年储备金证明年报

According to a report by Bitcoin.com, Huobi HTX released its 2025 Proof of Reserves Annual Report. HTX stated that the platform has publicly released Merkle Tree Proof of Reserves (PoR) for 38 consecutive months, and historical data can be verified on-chain. Assets are 100% fully redeemed, and USDT accumulation has increased by over 150%. In 2025, the USDT asset size of Huobi HTX users increased from approximately 695 million in January to approximately 1.765 billion in December, an increase of approximately 150%.

<div>According to Bitcoin.com, Huobi HTX released its 2025 Proof-of-Reserves (PoR) annual report. HTX stated that the platform has publicly released Merkle Tree Proof-of-Reserves (PoR) for 38 consecutive months, with historical data verifiable on-chain. Assets are 100% fully redeemed, and USDT accumulation has increased by over 150%. In 2025, the USDT asset size of Huobi HTX users increased from approximately 695 million in January to approximately 1.765 billion in December, an increase of approximately 150%.<br><br></div>

Huobi HTX releases its 2025 Certificate of Reserves Annual Report

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This article is from Prince, co-founder of Avon.
Compiled by Odaily Odaily(@OdailyChina); Translated by Azuma (@azuma_eth)
TL;DR
People's use of DeFi has become highly similar. The market and infrastructure are maturing, but users' mentality has gradually shifted from curiosity to caution. The reward mechanism has changed from "users bear the risks and rewards themselves" to "users wait to be rewarded," and participation behavior has gradually converged around incentives.
The Fading DeFi
DeFi gives people the feeling that...