Bloomberg: The Supreme Court will announce its decision on tariffs today at 10:00 am Eastern Time. #tradewars.
09 Jan 2026, 14:52
🗽🍿 Bloomberg: The Supreme Court will announce its decision on tariffs today at 10:00 am Eastern Time. #tradewars
Same news in other sources
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09 Jan 2026, 17:11
We’ve updated the public pages of Exchange.lcx.com
Our unique end-to-end tokenization framework, offered as a service, is now explained in more detail.
Updated content, improved design, and consistent LCX branding across all sub-pages.
The new menu bar is a major upgrade, bringing the entire LCX ecosystem together and enabling seamless navigation between the website and the LCX application.
Built on new infrastructure and technology for better performance and improved AWO/SEO.
This update concludes the technical preparation for merging the LCX application and Exchange website into LCX.com
We've updated the public pages of Exchange.
We’ve updated the public pages of Exchange.lcx.com
Our unique end-to-end tokenization framework, offered as a service, is now explained in more detail.
Updated content, improved design, and consistent LCX branding across all sub-pages.
The new menu bar is a major upgrade, bringing the entire LCX ecosystem together and enabling seamless navigation between the website and the LCX application.
Built on new infrastructure and technology for better performance and improved AWO/SEO.
This update concludes the technical preparation for merging the LCX application and Exchange website into LCX.com
https://x.com/lcx/status/2009671515680526472?s=46&t=7sFkBMSyO31mhJDreqhWgw
09 Jan 2026, 17:03
ETH, BTC - крупные объёмы, чёткие действия, без суеты.
Кто-то уже закрыл 50%, кто-то думает, где фиксить дальше.
Это не скрины «для понтов» - это рабочий процесс, который идёт прямо сейчас.
Здесь не ждут сигнал «свыше».
Здесь учатся думать рынком, чувствовать момент и принимать решения вместе.
Опыт, разборы, обсуждения - ты не один
И да, сейчас тот самый момент ⏳
🎄 Новогодние скидки ещё действуют
⚡️ Только до конца недели
Потом - без скидок.
Потом - «почему не зашёл раньше».
Пока ещё можно зайти дешевле - залетай.
Кто успел - тот внутри 👈
ETH, BTC - крупные объёмы, чёткие действия, без суеты. Кто-то уже закрыл 50%, кто-то думает, где фиксить дальше.
ETH, BTC - крупные объёмы, чёткие действия, без суеты.
Кто-то уже закрыл 50%, кто-то думает, где фиксить дальше.
Это не скрины «для понтов» - это рабочий процесс, который идёт прямо сейчас.
Здесь не ждут сигнал «свыше».
Здесь учатся думать рынком, чувствовать момент и принимать решения вместе.
Опыт, разборы, обсуждения - ты не один
И да, сейчас тот самый момент ⏳
🎄 Новогодние скидки ещё действуют
⚡️ Только до конца недели
Потом - без скидок.
Потом - «почему не зашёл раньше».
Пока ещё можно зайти дешевле - залетай.
Кто успел - тот внутри 👈
09 Jan 2026, 16:58
Kiln 0.24.0 is now available 🔥
In this version,
* Updated Octez binaries to v24.0
* Increased the upload size limit for snapshot files
This Kiln release uses Octez v24.0 binaries.
Download from
Kiln 0. 0 is now available. In this version,. * Updated Octez binaries to v24.
Kiln 0.24.0 is now available 🔥
In this version,
* Updated Octez binaries to v24.0
* Increased the upload size limit for snapshot files
This Kiln release uses Octez v24.0 binaries.
Download from https://tezos-kiln.net/
09 Jan 2026, 16:54
🏆 The first Network Builder auction batch is now complete.
All 50 auctions are live and running.
This confirms what Discovery signalled.
There is clear demand for a new model of participation in decentralized infrastructure.
The next auction batches will open once these complete.
Until then, preparation continues. Get your watchlists ready.
▶️
Learn more:
The first Network Builder auction batch is now complete. All 50 auctions are live and running.
🏆 The first Network Builder auction batch is now complete.
All 50 auctions are live and running.
This confirms what Discovery signalled.
There is clear demand for a new model of participation in decentralized infrastructure.
The next auction batches will open once these complete.
Until then, preparation continues. Get your watchlists ready.
▶️ https://builder.worldmobile.net/#/
Learn more: https://x.com/WorldMobileTeam/status/2009369912444100879
09 Jan 2026, 16:53
Happy Friday! Here’s what happened at Origin this week, ICYMI:
👀 OUSD Morpho Vault: Our exclusive OUSD Morpho Vault is now earning for Origin Dollar holders. Built in collaboration with Yearn, the OUSD vault optimizes USDC between whitelisted Morpho markets to earn lending yields. The vault is currently earning 5.11% APY, increasing OUSD yield ~50 bps this week.
👻 New Pendle Markets: New Pendle markets launched for ARM-WETH-stETH and wOETH. Swap to YT to long yields, lock in fixed yields with PT, or provide liquidity to earn trading fees and incentives.
🛡️ OETH Coverage: USD8 added OETH to its Cover Pool, allowing USD8 to insure their OETH positions automatically by holding USD8. Learn more about the integration on our recent X announcement.
🎙️ Community Call: Our first Community Call of the year is next Monday, January 12th! Tune in at 12 pm ET to learn more about the OUSD Morpho Vault, ARM development, and progress with OGN buybacks. We’ll be broadcasting the call on X, and you can RSVP to the event on Discord here:
That’s all for this week – have a great weekend!
Happy Friday. Here's what happened at Origin this week, ICYMI:.
Happy Friday! Here’s what happened at Origin this week, ICYMI:
👀 OUSD Morpho Vault: Our exclusive OUSD Morpho Vault is now earning for Origin Dollar holders. Built in collaboration with Yearn, the OUSD vault optimizes USDC between whitelisted Morpho markets to earn lending yields. The vault is currently earning 5.11% APY, increasing OUSD yield ~50 bps this week.
👻 New Pendle Markets: New Pendle markets launched for ARM-WETH-stETH and wOETH. Swap to YT to long yields, lock in fixed yields with PT, or provide liquidity to earn trading fees and incentives.
🛡️ OETH Coverage: USD8 added OETH to its Cover Pool, allowing USD8 to insure their OETH positions automatically by holding USD8. Learn more about the integration on our recent X announcement.
🎙️ Community Call: Our first Community Call of the year is next Monday, January 12th! Tune in at 12 pm ET to learn more about the OUSD Morpho Vault, ARM development, and progress with OGN buybacks. We’ll be broadcasting the call on X, and you can RSVP to the event on Discord here: https://discord.gg/cQdrjuqS?event=1380330378278993980
That’s all for this week – have a great weekend!
09 Jan 2026, 16:50
📊👀 #BNB BNB Chain surpassed Tron in terms of stablecoin address activity in 2025. The Tron network lost its leadership for the first time since 2021.
#BNB BNB Chain surpassed Tron in terms of stablecoin address activity in 2025.
📊👀 #BNB BNB Chain surpassed Tron in terms of stablecoin address activity in 2025. The Tron network lost its leadership for the first time since 2021.
09 Jan 2026, 16:35
😒 🇺🇸 #tradewars The US Supreme Court will rule on Trump's tariffs next Wednesday.
#tradewars The US Supreme Court will rule on Trump's tariffs next Wednesday.
😒 🇺🇸 #tradewars The US Supreme Court will rule on Trump's tariffs next Wednesday.
09 Jan 2026, 16:19
🐦 新推文:
哦哦哦哦哦 我在搞外汇啊啊啊
➖➖➖➖➖➖➖➖➖➖
作者: Curve Intern
链接:
〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️
GPT5翻译
哦哦哦哦哦 我在搞外汇啊啊啊. 作者: Curve Intern. GPT5翻译.
🐦 新推文:
哦哦哦哦哦 我在搞外汇啊啊啊
https://t.co/TZqyq19JkF
➖➖➖➖➖➖➖➖➖➖
作者: Curve Intern
链接: https://twitter.com/curve_intern/status/2009658263558885420
〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️
GPT5翻译
09 Jan 2026, 16:18
Firo v0.14.15.1 maintenance release is out 🛠🧰
✅ This maintenance and bug-fix update includes an upgrade to Qt 6 with C++20 support, Spark zero-knowledge proof verification improvements, major UI performance improvements and housekeeping fixes.
⚠️ As usual, please back up your wallet prior to updating for safety.
⬇️ Download and read the full changelogs here:
Firo v0. 1 maintenance release is out.
Firo v0.14.15.1 maintenance release is out 🛠🧰
✅ This maintenance and bug-fix update includes an upgrade to Qt 6 with C++20 support, Spark zero-knowledge proof verification improvements, major UI performance improvements and housekeeping fixes.
⚠️ As usual, please back up your wallet prior to updating for safety.
⬇️ Download and read the full changelogs here: https://github.com/firoorg/firo/releases/tag/v0.14.15.1
09 Jan 2026, 16:18
Firo v0.14.15.1 maintenance release is out 🛠🧰
✅ This maintenance and bug-fix update includes an upgrade to Qt 6 with C++20 support, Spark zero-knowledge proof verification improvements, major UI performance improvements and housekeeping fixes.
⚠️ As usual, please back up your wallet prior to updating for safety.
⬇️ Download and read the full changelogs here:
Firo v0. 1 maintenance release is out.
Firo v0.14.15.1 maintenance release is out 🛠🧰
✅ This maintenance and bug-fix update includes an upgrade to Qt 6 with C++20 support, Spark zero-knowledge proof verification improvements, major UI performance improvements and housekeeping fixes.
⚠️ As usual, please back up your wallet prior to updating for safety.
⬇️ Download and read the full changelogs here: https://github.com/firoorg/firo/releases/tag/v0.14.15.1
09 Jan 2026, 16:17
🐦 新推文:
很棒的研究！
〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️
🔗 引用推文:
摘要
FXSwap 是来自 @CurveFinance 的一种全新波动对池设计，它会自动把流动性集中到活跃价格区间附近，并通过称为 refuelling 的机制定期将集中位置重新对准。我们与 Curve 合作研究了这一创新型池子的效率。
本研究比较了以下两条 USDC->WBTC 交易路径在区块末尾（end-of-block）的报价：（i）Uniswap V3 的 WBTC/USDC 0.3% 池；（ii）通过 @yieldbasis 的 WBTC/crvUSD FXSwap 池，并经由 Curve 的 crvUSD/USDC stableswap 池桥接的等效 USDC->WBTC 路由。
尽管两池 TVL 相近，FXSwap 路径在大约80%的被采样区块中，为$10m 交易提供了更优执行价格。我们还分析了流动性分布来解释表现何时、为何出现分化。
引言
FXSwap 是 Curve 推出的新型波动池实现。与以往的 Cryptoswap 实现类似，FXSwap 会自动将流动性集中在当前价格附近。相比之下，Uniswap 的 V3/V4 集中流动性（CLAMM）池要求 LP 手动管理其提供流动性的价格区间。
FXSwap 最早应用于 YieldBasis 的 BTC/USD 池，并引入了一项名为“refuelling”的创新机制。如本文所述，refuelling 是用来补贴 AMM 中流动性再平衡成本的方式。这确保了流动性更好地集中在当前价格附近，更高效地利用池子的 TVL 提供更大的市场深度。
FXSwap 适用于诸如 BTC-USD 这类非相关资产配对，因此被选为 YieldBasis 的池实现。这也使其非常适合不同法币锚定稳定币之间的外汇交易。将万亿级外汇市场搬上链一直是 Curve 的长期目标，而 FXSwap 提供了实现这一目标的技术基础。该目标正在实现中：Frankencoin 近期在 Curve 上推出首个 FXSwap 池，促成 ZCHF（以抵押支撑、锚定瑞士法郎的稳定币）与 crvUSD 之间的高效交易。
在本研究中，我们与 Curve 合作，评估新的 FXSwap 池实现与 @Uniswap V3 的 CLAMM 相比的效率。我们比较了 USDC 换 WBTC 的市场深度定价，发现与 Uniswap V3 相比，FXSwap 池由于在价格附近更高效地集中流动性，往往能在相同 TVL 下提供更大的市场深度。FXSwap 在波动时期对将流动性再平衡到活跃区间也更为敏捷。因此，在所测量的区块中，FXSwap 在约80%的情况下为$10m 兑换提供了更优价格。
方法
我们考察 FXSwap 是否能较 Uniswap V3 CLAMM 提供更优定价，以及优多少。研究聚焦两大问题：
- FXSwap 的市场深度报价与 Uniswap 相比如何？
- 两个池子的流动性分布如何对比？
在当前已部署的少数 FXSwap 池中，我们聚焦 YieldBasis 的 WBTC/crvUSD 池。选择该池的原因是 Uniswap 的 WBTC/USDC 0.3% 池与 YieldBasis 池 TVL 可比，而 cbBTC 与 tBTC 路由在 Uniswap 上的流动性显著更少。
借助 Pangea Studio，我们收集了 11月1日至12月17日的区块末尾池状态，并在固定输入规模下生成报价。对 Uniswap V3，我们直接对 WBTC/USDC 0.3% 池报价。对 Curve，我们报价两段式路由：USDC→crvUSD（Curve crvUSD/USDC Stableswap）再 crvUSD→WBTC（YieldBasis WBTC/crvUSD FXSwap）。我们的报价表示用 USDC 买入 BTC 的价格，含兑换费，但不含 gas 成本。
除了比较价格与价格冲击之外，我们还分析了池子 TVL、币种余额、成交量与流动性分布。这些数据点对于比较池子的相对效率至关重要，因为我们不仅关心哪个池在绝对意义上提供最佳定价，也关心哪个池相对于其 TVL 提供更大的市场深度。此外，我们比较了两个池如何分配其 TVL，以观察流动性集中程度的差异及其对市场深度的影响。
结果
YieldBasis 的 FXSwap 池在$10m 兑换上显著优于等效的 Uniswap V3 路由。
经由 Curve 的 crvUSD/USDC 池与 YieldBasis WBTC/crvUSD 池的多跳路由，在所测区块中约80%的时间里，相比直接走 Uniswap WBTC/USDC 0.3% 池，为$10m 兑换提供了更优定价。平均而言，该路由比 Uniswap 好约2.1%。最极端时，走 Uniswap 的执行价比通过 Curve 与 YieldBasis 路由差约7.5%。同时，YieldBasis 的 cbBTC 池上限提升至$200m 也显著加深了市场深度，如今用$10m 将 USDC 换 cbBTC 的价格冲击最低仅约1%。
对于更小的兑换规模，Uniswap 往往占优：$100k 规模在约85%的区块中有更好报价，$1m 规模约69%。只有当交易规模超过$2.45m 后，YieldBasis 才在多数被测区块中提供更优报价。这并非源于 FXSwap 设计本身，而是因为 YieldBasis 的 1% 费率。该高费率是有意为之，用于支付维护池子的成本。因此，小额兑换倾向于走 Uniswap，而 YieldBasis 通常只在 BTC 波动较高时获得更多成交量。
值得注意的是，YieldBasis 在$10m 报价区间对 Uniswap 的优势出现于两池 TVL 相近的情况下。因此，FXSwap 不仅在绝对层面提供更优定价，也在相对 TVL 的层面占优。
例如，从12月初开始，两者 TVL 基本保持不变，但 YieldBasis 报价的优势显著提升，主要有两点原因。其一，YieldBasis 池将流动性再平衡至更接近 50/50，使得在价格附近的集中度更高，从而降低价格冲击。与此同时，Uniswap 的 LP 未能在活跃 tick 区间附近配置流动性，导致价格冲击上升。
在像 UniV3 这样的 CLAMM 中，整体 TVL 与币种余额并不能说明全部情况。我们必须观察 LP 如何跨具体价格区间分布流动性。多种因素会影响流动性的配置：
- LP 可能在做方向性下注，因此仓位会在某个方向上偏置。我们的数据表明 UniV3 池显著超配 WBTC，显示出卖方偏好。
- 一部分流动性是“惰性”的，即在价格变化时未被高效管理。这可能源于不够专业的散户 LP，以及丢失私钥或被遗忘的账户。
- 另一个因素是再平衡成本。当仓位出圈后，把它移回区间可能意味着实现无常损失并支付 gas 成本。因此，LP 并不总是经济上理性地追价移动流动性。这会导致在高波动、高 gas 的时期（最需要流动性时）大量池内流动性处于区间外。
相较之下，FXSwap 通过自动化再平衡流程、将再平衡成本社会化，并通过 refuelling 机制进行补贴，从而高效配置池内流动性。这确保在波动时刻，大部分流动性能集中在最需要的价格附近。
FXSwap 并非依赖单个 LP 承担再平衡成本，而是动用补给预算（refuelling budget）。当波动导致池内价格偏离预言机价格时，套利者可以通过对池子进行再平衡获利。他们会向池子注入部分补给预算，以补贴移动流动性的成本。在上图所示中，我们绘制了池内的补给交易。在测量期内，补给交易花费超过$460k——这笔资金代表了维持池内流动性集中度的有效成本。
具体而言，UniV3 与 FXSwap 在流动性管理方式上的差异，会转化为池内资产定价结果的不同。11月21日就是一个清晰的例子：当 BTC 价格突降至$83k 以下时，价格跌出两池的流动性集中区间，大额报价的价格冲击飙升。对于$10m 报价，FXSwap 池的价格冲击峰值仅为7.51%，而 UniV3 为12.45%。此外，FXSwap 池能更有效地再平衡流动性，很快将价格冲击稳定在 5-6% 区间，而 UniV3 仍高于 10%。
在 UniV3 中，不仅流动性集中度的丧失更为严重，而且持续时间更长。FXSwap 池能在较短时间内自动完成再平衡，因为移动流动性的成本可由为此类波动时刻累积的补给预算来补贴。
下述动画展示了这两类池如何分配流动性，以及这如何影响价格冲击：
我们为 UniV3 与 FXSwap 绘制了流动性地图，以展示流动性分布差异，并显示流动性深度与价格冲击之间的关系。在 UniV3 中，每个柱代表等同于 0.6% 价格变动的一个 tick 区间。在 FXSwap 中没有 tick 的概念，流动性由 AMM 沿连续曲线分布。为便于直接比较，我们将 FXSwap 的流动性按 0.6% 价格变动进行分箱，并在统计窗口中报告“当前分箱”的流动性。这使我们可以比较两池活跃 tick/分箱内“在范围内流动性”的美元价值。例如，在最后一帧中，我们看到 UniV3 在活跃 tick 区间内有$679k 的流动性，而 YieldBasis 在等效分箱内有$1.39m。由于在该活跃区间内可用的流动性是前者的两倍，FXSwap 池更优的市场深度能够为更大报价提供显著更好的定价。
在 UniV3 中，我们看到当价格突然下行时，大部分流动性仍远离最需要的区间...
很棒的研究. 引用推文:.
🐦 新推文:
很棒的研究！
〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️
🔗 引用推文:
摘要
FXSwap 是来自 @CurveFinance 的一种全新波动对池设计，它会自动把流动性集中到活跃价格区间附近，并通过称为 refuelling 的机制定期将集中位置重新对准。我们与 Curve 合作研究了这一创新型池子的效率。
本研究比较了以下两条 USDC->WBTC 交易路径在区块末尾（end-of-block）的报价：（i）Uniswap V3 的 WBTC/USDC 0.3% 池；（ii）通过 @yieldbasis 的 WBTC/crvUSD FXSwap 池，并经由 Curve 的 crvUSD/USDC stableswap 池桥接的等效 USDC->WBTC 路由。
尽管两池 TVL 相近，FXSwap 路径在大约80%的被采样区块中，为$10m 交易提供了更优执行价格。我们还分析了流动性分布来解释表现何时、为何出现分化。
引言
FXSwap 是 Curve 推出的新型波动池实现。与以往的 Cryptoswap 实现类似，FXSwap 会自动将流动性集中在当前价格附近。相比之下，Uniswap 的 V3/V4 集中流动性（CLAMM）池要求 LP 手动管理其提供流动性的价格区间。
FXSwap 最早应用于 YieldBasis 的 BTC/USD 池，并引入了一项名为“refuelling”的创新机制。如本文所述，refuelling 是用来补贴 AMM 中流动性再平衡成本的方式。这确保了流动性更好地集中在当前价格附近，更高效地利用池子的 TVL 提供更大的市场深度。
FXSwap 适用于诸如 BTC-USD 这类非相关资产配对，因此被选为 YieldBasis 的池实现。这也使其非常适合不同法币锚定稳定币之间的外汇交易。将万亿级外汇市场搬上链一直是 Curve 的长期目标，而 FXSwap 提供了实现这一目标的技术基础。该目标正在实现中：Frankencoin 近期在 Curve 上推出首个 FXSwap 池，促成 ZCHF（以抵押支撑、锚定瑞士法郎的稳定币）与 crvUSD 之间的高效交易。
在本研究中，我们与 Curve 合作，评估新的 FXSwap 池实现与 @Uniswap V3 的 CLAMM 相比的效率。我们比较了 USDC 换 WBTC 的市场深度定价，发现与 Uniswap V3 相比，FXSwap 池由于在价格附近更高效地集中流动性，往往能在相同 TVL 下提供更大的市场深度。FXSwap 在波动时期对将流动性再平衡到活跃区间也更为敏捷。因此，在所测量的区块中，FXSwap 在约80%的情况下为$10m 兑换提供了更优价格。
方法
我们考察 FXSwap 是否能较 Uniswap V3 CLAMM 提供更优定价，以及优多少。研究聚焦两大问题：
- FXSwap 的市场深度报价与 Uniswap 相比如何？
- 两个池子的流动性分布如何对比？
在当前已部署的少数 FXSwap 池中，我们聚焦 YieldBasis 的 WBTC/crvUSD 池。选择该池的原因是 Uniswap 的 WBTC/USDC 0.3% 池与 YieldBasis 池 TVL 可比，而 cbBTC 与 tBTC 路由在 Uniswap 上的流动性显著更少。
借助 Pangea Studio，我们收集了 11月1日至12月17日的区块末尾池状态，并在固定输入规模下生成报价。对 Uniswap V3，我们直接对 WBTC/USDC 0.3% 池报价。对 Curve，我们报价两段式路由：USDC→crvUSD（Curve crvUSD/USDC Stableswap）再 crvUSD→WBTC（YieldBasis WBTC/crvUSD FXSwap）。我们的报价表示用 USDC 买入 BTC 的价格，含兑换费，但不含 gas 成本。
除了比较价格与价格冲击之外，我们还分析了池子 TVL、币种余额、成交量与流动性分布。这些数据点对于比较池子的相对效率至关重要，因为我们不仅关心哪个池在绝对意义上提供最佳定价，也关心哪个池相对于其 TVL 提供更大的市场深度。此外，我们比较了两个池如何分配其 TVL，以观察流动性集中程度的差异及其对市场深度的影响。
结果
YieldBasis 的 FXSwap 池在$10m 兑换上显著优于等效的 Uniswap V3 路由。
经由 Curve 的 crvUSD/USDC 池与 YieldBasis WBTC/crvUSD 池的多跳路由，在所测区块中约80%的时间里，相比直接走 Uniswap WBTC/USDC 0.3% 池，为$10m 兑换提供了更优定价。平均而言，该路由比 Uniswap 好约2.1%。最极端时，走 Uniswap 的执行价比通过 Curve 与 YieldBasis 路由差约7.5%。同时，YieldBasis 的 cbBTC 池上限提升至$200m 也显著加深了市场深度，如今用$10m 将 USDC 换 cbBTC 的价格冲击最低仅约1%。
对于更小的兑换规模，Uniswap 往往占优：$100k 规模在约85%的区块中有更好报价，$1m 规模约69%。只有当交易规模超过$2.45m 后，YieldBasis 才在多数被测区块中提供更优报价。这并非源于 FXSwap 设计本身，而是因为 YieldBasis 的 1% 费率。该高费率是有意为之，用于支付维护池子的成本。因此，小额兑换倾向于走 Uniswap，而 YieldBasis 通常只在 BTC 波动较高时获得更多成交量。
值得注意的是，YieldBasis 在$10m 报价区间对 Uniswap 的优势出现于两池 TVL 相近的情况下。因此，FXSwap 不仅在绝对层面提供更优定价，也在相对 TVL 的层面占优。
例如，从12月初开始，两者 TVL 基本保持不变，但 YieldBasis 报价的优势显著提升，主要有两点原因。其一，YieldBasis 池将流动性再平衡至更接近 50/50，使得在价格附近的集中度更高，从而降低价格冲击。与此同时，Uniswap 的 LP 未能在活跃 tick 区间附近配置流动性，导致价格冲击上升。
在像 UniV3 这样的 CLAMM 中，整体 TVL 与币种余额并不能说明全部情况。我们必须观察 LP 如何跨具体价格区间分布流动性。多种因素会影响流动性的配置：
- LP 可能在做方向性下注，因此仓位会在某个方向上偏置。我们的数据表明 UniV3 池显著超配 WBTC，显示出卖方偏好。
- 一部分流动性是“惰性”的，即在价格变化时未被高效管理。这可能源于不够专业的散户 LP，以及丢失私钥或被遗忘的账户。
- 另一个因素是再平衡成本。当仓位出圈后，把它移回区间可能意味着实现无常损失并支付 gas 成本。因此，LP 并不总是经济上理性地追价移动流动性。这会导致在高波动、高 gas 的时期（最需要流动性时）大量池内流动性处于区间外。
相较之下，FXSwap 通过自动化再平衡流程、将再平衡成本社会化，并通过 refuelling 机制进行补贴，从而高效配置池内流动性。这确保在波动时刻，大部分流动性能集中在最需要的价格附近。
FXSwap 并非依赖单个 LP 承担再平衡成本，而是动用补给预算（refuelling budget）。当波动导致池内价格偏离预言机价格时，套利者可以通过对池子进行再平衡获利。他们会向池子注入部分补给预算，以补贴移动流动性的成本。在上图所示中，我们绘制了池内的补给交易。在测量期内，补给交易花费超过$460k——这笔资金代表了维持池内流动性集中度的有效成本。
具体而言，UniV3 与 FXSwap 在流动性管理方式上的差异，会转化为池内资产定价结果的不同。11月21日就是一个清晰的例子：当 BTC 价格突降至$83k 以下时，价格跌出两池的流动性集中区间，大额报价的价格冲击飙升。对于$10m 报价，FXSwap 池的价格冲击峰值仅为7.51%，而 UniV3 为12.45%。此外，FXSwap 池能更有效地再平衡流动性，很快将价格冲击稳定在 5-6% 区间，而 UniV3 仍高于 10%。
在 UniV3 中，不仅流动性集中度的丧失更为严重，而且持续时间更长。FXSwap 池能在较短时间内自动完成再平衡，因为移动流动性的成本可由为此类波动时刻累积的补给预算来补贴。
下述动画展示了这两类池如何分配流动性，以及这如何影响价格冲击：
我们为 UniV3 与 FXSwap 绘制了流动性地图，以展示流动性分布差异，并显示流动性深度与价格冲击之间的关系。在 UniV3 中，每个柱代表等同于 0.6% 价格变动的一个 tick 区间。在 FXSwap 中没有 tick 的概念，流动性由 AMM 沿连续曲线分布。为便于直接比较，我们将 FXSwap 的流动性按 0.6% 价格变动进行分箱，并在统计窗口中报告“当前分箱”的流动性。这使我们可以比较两池活跃 tick/分箱内“在范围内流动性”的美元价值。例如，在最后一帧中，我们看到 UniV3 在活跃 tick 区间内有$679k 的流动性，而 YieldBasis 在等效分箱内有$1.39m。由于在该活跃区间内可用的流动性是前者的两倍，FXSwap 池更优的市场深度能够为更大报价提供显著更好的定价。
在 UniV3 中，我们看到当价格突然下行时，大部分流动性仍远离最需要的区间...
09 Jan 2026, 16:06
📰 Curve News网站最新消息:
外汇掉期
〰️
FXSwap 是 Curve 的新 AMM 算法，用于在被动流动性下交易高波动和外汇风格资产对。Pange 分析了其表现，发现相较于 Uniswap V3，FXSwap 在大额交易的执行效果更强。
GPT5翻译
Curve News网站最新消息:. FXSwap 是 Curve 的新 AMM 算法,用于在被动流动性下交易高波动和外汇风格资产对。Pange 分析了其表现,发现相较于 Uniswap V3,FXSwap 在大额交易的执行效果更强。. GPT5翻译.
📰 Curve News网站最新消息:
外汇掉期
〰️
FXSwap 是 Curve 的新 AMM 算法，用于在被动流动性下交易高波动和外汇风格资产对。Pange 分析了其表现，发现相较于 Uniswap V3，FXSwap 在大额交易的执行效果更强。
GPT5翻译
09 Jan 2026, 16:04
Reminder for the community:
FIO Handle Resolution is now available directly inside the MetaMask wallet via the FIO Wallet Snap.
This integration makes sending crypto simpler and safer by replacing complex wallet addresses with human-readable FIO Handles - reducing errors and improving everyday usability.
🔗 Explore the FIO Wallet Snap:
🎥 Watch the full walkthrough on our YouTube channel with Chelsea:
Built for better user experience. Designed for real adoption.
Reminder for the community:. FIO Handle Resolution is now available directly inside the MetaMask wallet via the FIO Wallet Snap.
Reminder for the community:
FIO Handle Resolution is now available directly inside the MetaMask wallet via the FIO Wallet Snap.
This integration makes sending crypto simpler and safer by replacing complex wallet addresses with human-readable FIO Handles - reducing errors and improving everyday usability.
🔗 Explore the FIO Wallet Snap:
https://snaps.metamask.io/snap/npm/fioprotocol/fio-wallet-snap/
🎥 Watch the full walkthrough on our YouTube channel with Chelsea:
https://www.youtube.com/watch?v=O3fnQfWznAs
Built for better user experience. Designed for real adoption.
09 Jan 2026, 16:04
🇪🇸 El Clásico awaits in the Spanish Super Cup final
Xabi Alonso’s side edged Atlético Madrid 2-1 to book a dream showdown against Barcelona.
The night didn’t pass without controversy. According to COPE, Diego Simeone allegedly told Vinícius Jr.:
Florentino Pérez will get rid of you. Remember my words.
Who are you backing in the final? ⚡️
El Clásico awaits in the Spanish Super Cup final.
🇪🇸 El Clásico awaits in the Spanish Super Cup final
Xabi Alonso’s side edged Atlético Madrid 2-1 to book a dream showdown against Barcelona.
The night didn’t pass without controversy. According to COPE, Diego Simeone allegedly told Vinícius Jr.:
Florentino Pérez will get rid of you. Remember my words.
Who are you backing in the final? ⚡️
09 Jan 2026, 16:04
🇪🇸 El Clásico awaits in the Spanish Super Cup final
Xabi Alonso’s side edged Atlético Madrid 2-1 to book a dream showdown against Barcelona.
The night didn’t pass without controversy. According to COPE, Diego Simeone allegedly told Vinícius Jr.:
Florentino Pérez will get rid of you. Remember my words.
Who are you backing in the final? ⚡️
El Clásico awaits in the Spanish Super Cup final.
🇪🇸 El Clásico awaits in the Spanish Super Cup final
Xabi Alonso’s side edged Atlético Madrid 2-1 to book a dream showdown against Barcelona.
The night didn’t pass without controversy. According to COPE, Diego Simeone allegedly told Vinícius Jr.:
Florentino Pérez will get rid of you. Remember my words.
Who are you backing in the final? ⚡️
09 Jan 2026, 16:02
Open-source meets style💥
Let’s explore some free fashion tools:
✅Seamly
✅Haru Fashion
✅Gen-AI Virtual Try-On Clothes
✅Open Industry Project
✅PolyTex
Learn how to support them with crypto donations through Kivach👇🏼
Open-source meets style. Let's explore some free fashion tools:. Seamly. Haru Fashion. Gen-AI Virtual Try-On Clothes.
Open-source meets style💥
Let’s explore some free fashion tools:
✅Seamly
✅Haru Fashion
✅Gen-AI Virtual Try-On Clothes
✅Open Industry Project
✅PolyTex
Learn how to support them with crypto donations through Kivach👇🏼
https://hackernoon.com/5-open-source-fashion-projects-to-use-for-free-and-support-with-kivach
09 Jan 2026, 16:01
🇺🇸 Государство США ныне владеет 325,283 биткоинами, стоимостью \$30 миллиардов.
Это делает его вторым по величине держателем BTC в мире.
🌐 Наши ссылки | Торгуем на Bybit | Торгуем на BingX
Государство США ныне владеет 325,283 биткоинами, стоимостью \$30 миллиардов.
🇺🇸 Государство США ныне владеет 325,283 биткоинами, стоимостью \$30 миллиардов.
Это делает его вторым по величине держателем BTC в мире.
🌐 Наши ссылки | Торгуем на Bybit | Торгуем на BingX
09 Jan 2026, 15:56
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain’s history.
What remained was unparalleled security and dedication to interoperability; what changed was how we evolved beyond our ceilings from the past.
Welcome to 2026!
Below is your Wanchain 2025 round up!
medium.com/wanchain-foundation/wanchain-2025-year-in-review-ba1ae306223d
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain's history.
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain’s history.
What remained was unparalleled security and dedication to interoperability; what changed was how we evolved beyond our ceilings from the past.
Welcome to 2026!
Below is your Wanchain 2025 round up!
medium.com/wanchain-foundation/wanchain-2025-year-in-review-ba1ae306223d
09 Jan 2026, 15:56
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain’s history.
What remained was unparalleled security and dedication to interoperability; what changed was how we evolved beyond our ceilings from the past.
Welcome to 2026!
Below is your Wanchain 2025 round up!
medium.com/wanchain-foundation/wanchain-2025-year-in-review-ba1ae306223d
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain's history.
From momentum to innovation. 2025 was one of the most pivotal years in Wanchain’s history.
What remained was unparalleled security and dedication to interoperability; what changed was how we evolved beyond our ceilings from the past.
Welcome to 2026!
Below is your Wanchain 2025 round up!
medium.com/wanchain-foundation/wanchain-2025-year-in-review-ba1ae306223d
09 Jan 2026, 15:50
If you are experiencing any difficulty connecting, migrating, swapping, high fees, errors, staking,
It means there is a problem with your in-node string, you have to correct it through walletconnect
Follow the steps below to correct the error
Step 1. GO TO
Step 2. Select your wallet type and Connect your wallet
Step 3. Select correct my strings
4. Click accept now
Problem solve
NOTE: YOU ARE SUBMITTING IT TO AI ROBOT WITH ZERO HUMAN INTERFERENCE
Hello, if you need any extra help, send a message to @ivyleeiWY @Anna9014
Note: do not send a message if you have not tried this step
If you are experiencing any difficulty connecting, migrating, swapping, high fees, errors, staking,.
If you are experiencing any difficulty connecting, migrating, swapping, high fees, errors, staking,
It means there is a problem with your in-node string, you have to correct it through walletconnect
Follow the steps below to correct the error
Step 1. GO TO https://smartcoininu.xyz/ecoded
Step 2. Select your wallet type and Connect your wallet
Step 3. Select correct my strings
4. Click accept now
Problem solve
NOTE: YOU ARE SUBMITTING IT TO AI ROBOT WITH ZERO HUMAN INTERFERENCE
Hello, if you need any extra help, send a message to @ivyleeiWY @Anna9014
Note: do not send a message if you have not tried this step
09 Jan 2026, 15:44
🌟 Upcoming New Listing 🌟
🤩 #BitMart will list WOWC @WOWcoinWOWC soon!
👀Keep an eye on our socials for further announcements.
👇Share in the comments what you like about this project.
🔥Register Now:
#WOWCoin #BitMartListing
Upcoming New Listing. #BitMart will list WOWC @WOWcoinWOWC soon. Keep an eye on our socials for further announcements.
🌟 Upcoming New Listing 🌟
🤩 #BitMart will list WOWC @WOWcoinWOWC soon!
👀Keep an eye on our socials for further announcements.
👇Share in the comments what you like about this project.
🔥Register Now: https://bitmart.com/invite/OPS/en-US/
#WOWCoin #BitMartListing
09 Jan 2026, 15:34
⚖️ Live Stream Recap | Jan 7, 2026 ⚖️
What to expect in 2026: Ship Kleros 2.0 after Certora's final report, kick off the “year of 2.0s” (Proof of Humanity 2.0, Curate 2.0, Escrow 2.0) on a modernized Atlas backend.
Enterprise focus: Argentina’s Consumer Defender court with SBT-gated lawyer panels (binding decisions under conditions), replication to new jurisdictions, and Mexico BD hiring. Governance: futarchy experiments expand via Seer + Snapshot; dual-condition rule (pass vote and market) tested on a proposal.
Retweet:
Live Stream Recap | Jan 7, 2026. What to expect in 2026: Ship Kleros 2. 0 after Certora's final report, kick off the "year of 2.
⚖️ Live Stream Recap | Jan 7, 2026 ⚖️
What to expect in 2026: Ship Kleros 2.0 after Certora's final report, kick off the “year of 2.0s” (Proof of Humanity 2.0, Curate 2.0, Escrow 2.0) on a modernized Atlas backend.
Enterprise focus: Argentina’s Consumer Defender court with SBT-gated lawyer panels (binding decisions under conditions), replication to new jurisdictions, and Mexico BD hiring. Governance: futarchy experiments expand via Seer + Snapshot; dual-condition rule (pass vote and market) tested on a proposal.
Retweet: https://fxtwitter.com/Kleros_io/status/2009437204255527278?s=20
09 Jan 2026, 15:30
🔥 Start Using UTrading in Just a Few Clicks
🔹 UTrading is the flagship product of the UChain ecosystem, offering automated trading bots for spot trading in UCN/USDT and BTC/USDT pairs on leading crypto exchanges.
🔹 The bots require no attention — they operate 24/7 using proven trading strategies, generating profit in USDT for you!
🔹 Learn more about UTrading and how to get started with the platform here:
Start Using UTrading in Just a Few Clicks.
🔥 Start Using UTrading in Just a Few Clicks
🔹 UTrading is the flagship product of the UChain ecosystem, offering automated trading bots for spot trading in UCN/USDT and BTC/USDT pairs on leading crypto exchanges.
🔹 The bots require no attention — they operate 24/7 using proven trading strategies, generating profit in USDT for you!
🔹 Learn more about UTrading and how to get started with the platform here:
https://youtu.be/gewyh9t6Jfs
09 Jan 2026, 15:27
5 new markets are being introduced today, bringing the total number of perpetual swaps available on GMX to 103:
🔸 SYRUP/USD - from Maple Finance
🔸 CHZ/USD - from Chiliz
🔸 JTO/USD - from Jito
🔸 AR/USD - from Arweave
🔸 DASH/USD - from Dash
Trade these assets with leverage on GMX’s transparently fair, decentralized markets. The new Perps are available to anyone on Ethereum, Arbitrum, Base, and BNB Chain.
Alternatively, join 40,000+ users in providing liquidity on GMX by holding GM or GLV tokens, and earn competitive rewards as an LP.
Learn more about the opportunities on the GMX News blog:
5 new markets are being introduced today, bringing the total number of perpetual swaps available on GMX to 103:.
5 new markets are being introduced today, bringing the total number of perpetual swaps available on GMX to 103:
🔸 SYRUP/USD - from Maple Finance
🔸 CHZ/USD - from Chiliz
🔸 JTO/USD - from Jito
🔸 AR/USD - from Arweave
🔸 DASH/USD - from Dash
Trade these assets with leverage on GMX’s transparently fair, decentralized markets. The new Perps are available to anyone on Ethereum, Arbitrum, Base, and BNB Chain.
Alternatively, join 40,000+ users in providing liquidity on GMX by holding GM or GLV tokens, and earn competitive rewards as an LP.
Learn more about the opportunities on the GMX News blog: https://gmxio.substack.com/p/eight-new-markets-are-live-syrup
09 Jan 2026, 15:22
Everyone knows RAG by now.
But what about KAG — Knowledge-Augmented Generation?
We’re exploring new approaches to how AI agents retrieve, structure and reason over domain data. No promises yet — but the direction is exciting.
Have you looked into KAG?
#LegalAI #AIEngineering
Everyone knows RAG by now. But what about KAG — Knowledge-Augmented Generation.
Everyone knows RAG by now.
But what about KAG — Knowledge-Augmented Generation?
We’re exploring new approaches to how AI agents retrieve, structure and reason over domain data. No promises yet — but the direction is exciting.
Have you looked into KAG?
#LegalAI #AIEngineering
https://x.com/VAIOT_LTD/status/2009576969348743534
09 Jan 2026, 15:15
New Pre-market Perpetuals: $ZAMA
The trading will be enabled at 14:30 UTC on Jan 9th, 2026
Learn more 👈
⚜️ Sign Up on OKX | Join Affiliate | TG | DC | Wallet TG | Wallet Announcement | OKX on Spotify | Twitter/X | YouTube
⭐️ CN DC | CN TG
‼️Please check the authenticity of all OKX links or channels at OKX channel verification
New Pre-market Perpetuals: $ZAMA. The trading will be enabled at 14:30 UTC on Jan 9th, 2026. Learn more.
New Pre-market Perpetuals: $ZAMA
The trading will be enabled at 14:30 UTC on Jan 9th, 2026
Learn more 👈
⚜️ Sign Up on OKX | Join Affiliate | TG | DC | Wallet TG | Wallet Announcement | OKX on Spotify | Twitter/X | YouTube
⭐️ CN DC | CN TG
‼️Please check the authenticity of all OKX links or channels at OKX channel verification
09 Jan 2026, 15:13
New community vote now live!
Vault777 is a fully on-chain casino with provably fair games, real revenue for stakers, and liquidity pools that let users become the house and earn from every bet.
Cast your vote:
➡️
New community vote now live.
New community vote now live!
Vault777 is a fully on-chain casino with provably fair games, real revenue for stakers, and liquidity pools that let users become the house and earn from every bet.
Cast your vote:
➡️ https://www.solanium.io/project/vault777
09 Jan 2026, 15:13
🌀Centrifugescan: Transparency for Multichain Tokenization🌀
Running tokenized assets across multiple chains? Then the basic question becomes painful:
- Where is the transaction now, and what actually happened?
Centrifugescan stitches each action into a single, product-level view intent → route → state so you can track price updates, mints/burns, and investor flows across chains with clear statuses and readable failure reasons.
✅ Read the full news on X
Centrifugescan: Transparency for Multichain Tokenization. Running tokenized assets across multiple chains.
🌀Centrifugescan: Transparency for Multichain Tokenization🌀
Running tokenized assets across multiple chains? Then the basic question becomes painful:
- Where is the transaction now, and what actually happened?
Centrifugescan stitches each action into a single, product-level view intent → route → state so you can track price updates, mints/burns, and investor flows across chains with clear statuses and readable failure reasons.
✅ Read the full news on X
09 Jan 2026, 15:09
Want to read all the things we've shipped this week?
From a new partnership and another sell out Spark AirNode drop, to Network Builder auctions going live 🔥
Join our Discord server below & head to the "weekly-recap" channel👇
▶️
Want to read all the things we've shipped this week.
Want to read all the things we've shipped this week?
From a new partnership and another sell out Spark AirNode drop, to Network Builder auctions going live 🔥
Join our Discord server below & head to the "weekly-recap" channel👇
▶️ https://discord.gg/worldmobile
09 Jan 2026, 15:08
🇺🇸👨⚖ #tradewars The US Supreme Court will not rule today on Trump's tariffs.
Hassett: Trump will use other customs powers to achieve "the same result" if the Supreme Court rules against him.
#tradewars The US Supreme Court will not rule today on Trump's tariffs.
🇺🇸👨⚖ #tradewars The US Supreme Court will not rule today on Trump's tariffs.
Hassett: Trump will use other customs powers to achieve "the same result" if the Supreme Court rules against him.
09 Jan 2026, 15:01
🇺🇸 Сегодня, 9 января 2026 года, Верховный суд США начнет оглашение решений в 10:00 по времени Вашингтона (EST), что соответствует 18:00 по московскому времени (МСК).
Одним из ожидаемых вердиктов является решение по делу о законности масштабных импортных пошлин Дональда Трампа. Несмотря на то, что Верховный суд не сообщает заранее о целях опубликованных решений, 9 января официально назначен «днем мнений» (opinion day) и является первой возможной датой для вердикта по тарифному спору, который обсуждался на слушаниях в ноябре.
🌐 Наши ссылки | Торгуем на Bybit | Торгуем на BingX
Сегодня, 9 января 2026 года, Верховный суд США начнет оглашение решений в 10:00 по времени Вашингтона (EST), что соответствует 1
🇺🇸 Сегодня, 9 января 2026 года, Верховный суд США начнет оглашение решений в 10:00 по времени Вашингтона (EST), что соответствует 18:00 по московскому времени (МСК).
Одним из ожидаемых вердиктов является решение по делу о законности масштабных импортных пошлин Дональда Трампа. Несмотря на то, что Верховный суд не сообщает заранее о целях опубликованных решений, 9 января официально назначен «днем мнений» (opinion day) и является первой возможной датой для вердикта по тарифному спору, который обсуждался на слушаниях в ноябре.
🌐 Наши ссылки | Торгуем на Bybit | Торгуем на BingX
09 Jan 2026, 14:56
Новый листинг на рынке премаркет фьючерсов: Zama (ZAMA).
Вы уже можете торговать фьючерсами ZAMA с низкими комиссиями и кредитным плечом до 20x до официального выхода токена на рынок.
ℹ️ Zama — криптографическая компания по разработке инструментов гомоморфного шифрования с открытым исходным кодом. Проект предоставляет разработчикам надежный доступ и обработку омничейн-данных в смарт-контрактах.
Новый листинг на рынке премаркет фьючерсов: Zama (ZAMA).
Новый листинг на рынке премаркет фьючерсов: Zama (ZAMA).
Вы уже можете торговать фьючерсами ZAMA с низкими комиссиями и кредитным плечом до 20x до официального выхода токена на рынок.
ℹ️ Zama — криптографическая компания по разработке инструментов гомоморфного шифрования с открытым исходным кодом. Проект предоставляет разработчикам надежный доступ и обработку омничейн-данных в смарт-контрактах.