Coverage on Kamino, Morpho, Gearbox & Euler

<div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdaaefc49-7e24-4e2b-9e3a-76495ae2bc9f_2400x1256.png" rel="nofollow"><div><picture><source><img src="https://static.fwimg.io/img/feed/4915fb532aae5c361a4335eefe6de45b.jpg" alt=""></source></picture><div></div></div></a></figure></div><pre><code><code>Distributed research for distributed networks – OurNetwork is crypto's go-to platform for onchain analytics.</code></code></pre><p><strong>💥 Big News! </strong></p><p>OurNetwork has moved to a standalone media &amp; research platform.</p><p><a href="https://www.ournetwork.xyz/p/on-282-lending" rel="nofollow"><span>Read ON-281</span></a></p><div><hr></div><h5>Quick Links: <a href="https://ournetwork.substack.com/p/disclosures" rel="nofollow">Disclosures</a></h5><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F7495e677-b7ff-4b63-bad0-e10afcb76aac_1340x100.png" rel="nofollow"><div><picture><source><img src="https://static.fwimg.io/img/feed/409f23be5adbd9e8330bb8301e2dad2e.jpg" alt="" title=""></source></picture><div></div></div></a></figure></div><div><div><div><p>Thanks for reading OurNetwork! Subscribe for free to receive new posts and support our work.</p></div><div><div></div><div></div></div></div></div>

ON–281: Lending

關於Kamino、Morpho、Gearbox和Euler的報道
'<AR>'必須翻譯為'AR'。
'<ARB>'必須翻譯為'ARB'。

<div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdaaefc49-7e24-4e2b-9e3a-76495ae2bc9f_2400x1256.png" rel="nofollow"><div><picture><source><img src="https://static.fwimg.io/img/feed/4915fb532aae5c361a4335eefe6de45b.jpg" alt=""></source></picture><div></div></div></a></figure></div><pre><code><code>分散式研究用於分散式網路 - OurNetwork是加密行業的首選線上分析平臺。</code></code></pre><p><strong>💥 重大訊息!</strong></p><p>OurNetwork已轉移到獨立的媒體和研究平臺。</p><p><a href="https://www.ournetwork.xyz/p/on-282-lending" rel="nofollow"><span>閱讀ON-281</span></a></p><div><hr></div><h5>快速連結: <a href="https://ournetwork.substack.com/p/disclosures" rel="nofollow">披露</a></h5><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F7495e677-b7ff-4b63-bad0-e10afcb76aac_1340x100.png" rel="nofollow"><div><picture><source><img src="https://static.fwimg.io/img/feed/409f23be5adbd9e8330bb8301e2dad2e.jpg" alt="" title=""></source></picture><div></div></div></a></figure></div><div><div><div><p>感謝您閱讀OurNetwork!免費訂閱即可收到新帖,並支援我們的工作。</p></div><div><div></div><div></div></div></div></div>

ON–281：貸款

作者： The Economist
編譯： 深潮 TechFlow
---------------------------------------------------------------
深潮導讀： 儘管比特幣價格仍處於 7 萬美元上方，但加密市場正經歷著一場前所未有的“孤獨寒冬”。本文深入剖析了本輪跌勢與以往的不同之處：槓桿清算的連鎖反應、曾被寄予厚望的 ETF 如今淪為砸盤推手，以及最...

比特幣跌穿7萬美元，加密市場的“氛圍感”是如何消失的？

2026 年投資者面臨的問題已不是 「要不要配置」，而是「配多少，以及通過什麼工具配置 」。

ARK Invest：比特幣的機構化之路

隨著加密貨幣市值上漲，山寨幣也紛紛走高——但專家警告稱，結構性趨勢逆轉仍然難以實現。

ON–281：貸款

快速連結: 披露