{"id":1087,"date":"2026-08-29T03:24:11","date_gmt":"2026-08-29T00:24:11","guid":{"rendered":"https:\/\/www.dztecs.com\/blockchain\/what-is-defi-decentralized-finance\/"},"modified":"2026-08-29T09:10:33","modified_gmt":"2026-08-29T06:10:33","slug":"what-is-defi-decentralized-finance","status":"publish","type":"post","link":"https:\/\/www.dztecs.com\/blockchain\/what-is-defi-decentralized-finance\/","title":{"rendered":"\u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi): \u0645\u0627 \u0647\u0648\u061f","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<div class=\"vfocused-takeaways-box\">\n<h4 class=\"vfocused-takeaways-title\"><span class=\"vfocused-takeaways-icon\" aria-hidden=\"true\">\ud83d\udca1<\/span> \u0623\u0647\u0645 \u0645\u0627 \u062a\u062d\u062a\u0627\u062c \u0625\u0644\u0649 \u0645\u0639\u0631\u0641\u062a\u0647<\/h4>\n<ul class=\"vfocused-takeaways-list\">\n<li>\u064a\u0639\u062a\u0645\u062f \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi) \u0639\u0644\u0649 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0645\u0627\u0644\u064a\u0629 \u0645\u0641\u062a\u0648\u062d\u0629 \u0627\u0644\u0645\u0635\u062f\u0631 \u0645\u0628\u0646\u064a\u0629 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644\u060c \u062d\u064a\u062b \u062a\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062a\u0646\u0641\u064a\u0630 \u0644\u0623\u062a\u0645\u062a\u0629 \u0627\u0644\u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0645\u062b\u0644 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0648\u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u062f\u0648\u0646 \u0627\u0644\u062d\u0627\u062c\u0629 \u0644\u0648\u0633\u0637\u0627\u0621 \u0628\u0634\u0631\u064a\u064a\u0646.<\/li>\n<li>\u0639\u0644\u0649 \u0627\u0644\u0631\u063a\u0645 \u0645\u0646 \u0645\u0632\u0627\u064a\u0627\u0647\u0627\u060c \u062a\u0646\u0637\u0648\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi) \u0639\u0644\u0649 \u0645\u062e\u0627\u0637\u0631 \u062c\u0648\u0647\u0631\u064a\u0629 \u062a\u0634\u0645\u0644 \u0627\u0633\u062a\u063a\u0644\u0627\u0644 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629\u060c \u0648\u063a\u064a\u0627\u0628 \u062a\u0623\u0645\u064a\u0646 \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a (\u0645\u062b\u0644 FDIC)\u060c \u0648\u0639\u062f\u0645 \u0648\u062c\u0648\u062f \u0622\u0644\u064a\u0629 \u0627\u0633\u062a\u0631\u062f\u0627\u062f \u0644\u0644\u0645\u062f\u0641\u0648\u0639\u0627\u062a\u060c \u0628\u0627\u0644\u0625\u0636\u0627\u0641\u0629 \u0625\u0644\u0649 \u0628\u064a\u0626\u0629 \u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u063a\u064a\u0631 \u0648\u0627\u0636\u062d\u0629 \u0627\u0644\u0645\u0639\u0627\u0644\u0645.<\/li>\n<li>\u062a\u062a\u0645\u064a\u0632 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi) \u0628\u0642\u0627\u0628\u0644\u064a\u0629 \u0627\u0644\u062a\u0631\u0643\u064a\u0628 (&#8220;Money Legos&#8221;) \u0627\u0644\u062a\u064a \u062a\u062a\u064a\u062d \u062a\u0641\u0627\u0639\u0644 \u0627\u0644\u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u0639\u0642\u062f\u0629\u060c \u0648\u064a\u064f\u0639\u062f \u0645\u0642\u064a\u0627\u0633 \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u062d\u062c\u0648\u0632\u0629 (TVL) \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0631\u0626\u064a\u0633\u064a \u0644\u062d\u062c\u0645\u0647\u0627\u060c \u0645\u0639 \u0636\u0631\u0648\u0631\u0629 \u0627\u0644\u0627\u0646\u062a\u0628\u0627\u0647 \u0625\u0644\u0649 \u0625\u0645\u0643\u0627\u0646\u064a\u0629 \u062a\u0636\u062e\u0645\u0647 \u0628\u0633\u0628\u0628 \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0627\u0644\u0645\u062a\u0643\u0631\u0631\u0629.<\/li>\n<\/ul>\n<\/div>\n<nav class=\"vfocused-toc-box\" aria-label=\"\u062c\u062f\u0648\u0644 \u0627\u0644\u0645\u062d\u062a\u0648\u064a\u0627\u062a\"><strong class=\"vfocused-toc-title\">\ud83d\udccc \u062c\u062f\u0648\u0644 \u0627\u0644\u0645\u062d\u062a\u0648\u064a\u0627\u062a<\/strong><\/p>\n<ul class=\"vfocused-toc-list\">\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-1\">\u0645\u0642\u062f\u0645\u0629<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-2\">\u0627\u0644\u0646\u0642\u0627\u0637 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-3\">\u0643\u064a\u0641 \u064a\u0639\u0645\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi)\u061f<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-4\">\u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0627\u062a DeFi<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-5\">\u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u062d\u062c\u0648\u0632\u0629 (TVL): \u0643\u064a\u0641 \u062a\u0642\u0631\u0623 \u0635\u062d\u0629 DeFi\u061f<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-6\">\u062a\u0646\u0638\u064a\u0645 DeFi \u0641\u064a \u0639\u0627\u0645\u064a 2025 \u0648 2026<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-7\">\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi)<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-8\">\u0643\u064a\u0641 \u062a\u0628\u062f\u0623 \u0645\u0639 DeFi<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-9\">\u0643\u064a\u0641 \u062a\u0628\u062f\u0623 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 DeFi \u0644\u0623\u0648\u0644 \u0645\u0631\u0629 \u062f\u0648\u0646 \u062a\u0639\u0642\u064a\u062f \u0627\u0644\u0623\u0645\u0648\u0631\u061f<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-10\">\u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0627\u0644\u0623\u0630\u0648\u0646\u0627\u062a\u060c \u0648\u0625\u0644\u063a\u0627\u0621 \u0627\u0644\u0648\u0635\u0648\u0644 \u0641\u064a DeFi<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-11\">\u0645\u0646 \u0623\u064a\u0646 \u064a\u0623\u062a\u064a \u0639\u0627\u0626\u062f DeFi\u061f<\/a><\/li>\n<li class=\"vfocused-toc-item\"><a class=\"vfocused-toc-link\" href=\"#section-12\">\u0627\u0644\u0623\u0633\u0626\u0644\u0629 \u0627\u0644\u0634\u0627\u0626\u0639\u0629<\/a><\/li>\n<\/ul>\n<\/nav>\n<section>\n<header>\n<h2 id=\"section-1\">\u0645\u0642\u062f\u0645\u0629<\/h2>\n<\/header>\n<p>DeFi \u2014 \u0623\u0648 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a \u2014 \u0647\u0648 \u0645\u062c\u0645\u0648\u0639\u0629 \u0645\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0645\u0641\u062a\u0648\u062d\u0629 \u0627\u0644\u0645\u0635\u062f\u0631 \u0627\u0644\u0645\u0628\u0646\u064a\u0629 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0643\u062a\u0644 \u0642\u0627\u0628\u0644\u0629 \u0644\u0644\u0628\u0631\u0645\u062c\u0629. \u062a\u062d\u0627\u0643\u064a \u0647\u0630\u0647 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0648\u062a\u0648\u0633\u0639 \u0627\u0644\u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0645\u062b\u0644 <a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-compound-crypto\/\">\u0627\u0644\u0625\u0642\u0631\u0627\u0636<\/a> \u0648<a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-cryptocurrency-trading-how-to-do-it\/\">\u0627\u0644\u062a\u062f\u0627\u0648\u0644<\/a> \u0648<a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-yield-farming\/\">\u062a\u0648\u0644\u064a\u062f \u0627\u0644\u0639\u0627\u0626\u062f<\/a> \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0627\u0644\u0628\u0646\u0648\u0643 \u0623\u0648 \u0634\u0631\u0643\u0627\u062a \u0627\u0644\u0648\u0633\u0627\u0637\u0629.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-large wp-image-featured-og\" src=\"https:\/\/www.dztecs.com\/blockchain\/wp-content\/uploads\/sites\/4\/2026\/08\/what-is-decentralized-finance-1.jpg\" alt=\"\u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi): \u0645\u0627 \u0647\u0648\u061f\" width=\"1280\" height=\"720\" \/><\/p>\n<p>\u064a\u0635\u0644 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0648\u0646 \u0625\u0644\u0649 \u0647\u0630\u0647 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 <a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-web3\/\">\u0645\u062d\u0641\u0638\u0629 \u0639\u0645\u0644\u0627\u062a \u0645\u0634\u0641\u0631\u0629<\/a>\u060c \u0648\u0644\u0643\u0646 \u0627\u0644\u0648\u0635\u0648\u0644 \u0642\u062f \u064a\u0638\u0644 \u0645\u062d\u062f\u0648\u062f\u064b\u0627 \u0628\u0633\u0628\u0628 \u0636\u0648\u0627\u0628\u0637 \u0627\u0644\u0648\u0627\u062c\u0647\u0629 \u0627\u0644\u0623\u0645\u0627\u0645\u064a\u0629\u060c \u0648\u0641\u062d\u0635 \u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a\u060c \u0648\u0627\u0644\u0642\u064a\u0648\u062f \u0627\u0644\u0642\u0636\u0627\u0626\u064a\u0629\u060c \u0648\u0631\u0633\u0648\u0645 \u0627\u0644\u0634\u0628\u0643\u0629\u060c \u0623\u0648 \u0627\u0644\u0642\u0648\u0627\u0639\u062f \u0627\u0644\u062e\u0627\u0635\u0629 \u0628\u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644. \u062a\u062a\u062a\u0628\u0639 \u0644\u0648\u062d\u0627\u062a \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0627\u0644\u0639\u0627\u0645\u0629 \u0645\u062b\u0644 DefiLlama \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0648\u062f\u0639\u0629 \u0639\u0628\u0631 DeFi\u060c \u0648\u0644\u0643\u0646 \u064a\u062c\u0628 \u062f\u0627\u0626\u0645\u064b\u0627 \u0642\u0631\u0627\u0621\u0629 \u0625\u062c\u0645\u0627\u0644\u064a \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u062d\u062c\u0648\u0632\u0629 \u0643\u0644\u0642\u0637\u0629 \u0642\u062f\u064a\u0645\u0629 \u2014 \u062d\u064a\u062b \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u062a\u063a\u064a\u0631 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0648\u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0648\u0645\u0646\u0647\u062c\u064a\u0629 \u0627\u0644\u0639\u062f \u0627\u0644\u0645\u0632\u062f\u0648\u062c.<\/p>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-2\">\u0627\u0644\u0646\u0642\u0627\u0637 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629<\/h2>\n<\/header>\n<ul>\n<li><strong>\u0645\u0627 \u0647\u0648 DeFi.<\/strong> DeFi \u0647\u0648 \u0628\u0631\u0645\u062c\u064a\u0627\u062a \u0645\u0627\u0644\u064a\u0629 \u0645\u0641\u062a\u0648\u062d\u0629 \u0627\u0644\u0645\u0635\u062f\u0631 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644 \u062a\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0644\u062a\u0634\u063a\u064a\u0644 \u0648\u0638\u0627\u0626\u0641 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0648\u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0648\u062a\u0648\u0644\u064a\u062f \u0627\u0644\u0639\u0627\u0626\u062f \u0628\u062f\u0648\u0646 \u0648\u0633\u064a\u0637 \u0628\u0646\u0643\u064a \u062a\u0642\u0644\u064a\u062f\u064a.<\/li>\n<li><strong>\u0644\u0645\u0627\u0630\u0627 \u0647\u0648 \u0645\u0647\u0645.<\/strong> \u062a\u062a\u064a\u062d \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0644\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0627\u0644\u0648\u0635\u0648\u0644 \u0625\u0644\u0649 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629\u060c \u0648\u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0625\u0642\u0631\u0627\u0636\u060c \u0648\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0627\u062a \u0627\u0644\u0639\u0627\u0626\u062f \u0645\u0628\u0627\u0634\u0631\u0629 \u0645\u0646 \u0627\u0644\u0645\u062d\u0627\u0641\u0638\u060c \u0645\u0639 \u062c\u0639\u0644 \u0627\u0644\u0628\u0646\u064a\u0629 \u0627\u0644\u062a\u062d\u062a\u064a\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0623\u0633\u0647\u0644 \u0644\u0644\u0645\u0637\u0648\u0631\u064a\u0646 \u0644\u062a\u062c\u0645\u064a\u0639\u0647\u0627.<\/li>\n<li><strong>\u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0623\u0648 \u0627\u0644\u0642\u064a\u0648\u062f \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629.<\/strong> \u0642\u062f \u062a\u0643\u0648\u0646 \u0625\u062c\u0631\u0627\u0621\u0627\u062a \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u063a\u064a\u0631 \u0642\u0627\u0628\u0644\u0629 \u0644\u0644\u0625\u0644\u063a\u0627\u0621\u060c \u0648\u0642\u062f \u0639\u0627\u0646\u062a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0645\u0646 \u0627\u0633\u062a\u063a\u0644\u0627\u0644\u0627\u062a \u0643\u0628\u064a\u0631\u0629\u060c \u0645\u0639 \u0639\u062f\u0645 \u0648\u062c\u0648\u062f \u062a\u0623\u0645\u064a\u0646 \u0645\u0646 \u0645\u0624\u0633\u0633\u0629 \u0627\u0644\u062a\u0623\u0645\u064a\u0646 \u0627\u0644\u0641\u062f\u0631\u0627\u0644\u064a\u0629 \u0644\u0644\u0648\u062f\u0627\u0626\u0639 (FDIC)\u060c \u0623\u0648 \u0622\u0644\u064a\u0629 \u0627\u0633\u062a\u0631\u062f\u0627\u062f \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0627\u062a\u060c \u0623\u0648 \u062f\u0639\u0645 \u0639\u0645\u0644\u0627\u0621 \u0645\u0636\u0645\u0648\u0646 \u0639\u0646\u062f \u0641\u0642\u062f\u0627\u0646 \u0627\u0644\u0623\u0645\u0648\u0627\u0644.<\/li>\n<\/ul>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-3\">\u0643\u064a\u0641 \u064a\u0639\u0645\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi)\u061f<\/h2>\n<\/header>\n<p>\u064a\u0648\u0636\u062d \u0627\u0644\u0631\u0633\u0645 \u0627\u0644\u0628\u064a\u0627\u0646\u064a \u0623\u062f\u0646\u0627\u0647 \u0627\u0644\u0641\u0631\u0642 \u0628\u064a\u0646 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0635\u0631\u0641\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0648\u0646\u0638\u064a\u0631\u062a\u0647\u0627 \u0641\u064a \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi)\u060c \u0645\u0628\u064a\u0646\u064b\u0627 \u0643\u064a\u0641 \u062a\u0644\u063a\u064a \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0627\u0644\u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0648\u0633\u064a\u0637 \u0628\u0634\u0631\u064a.<\/p>\n<p>\u0641\u064a \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0635\u0631\u0641\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629\u060c \u064a\u0648\u0627\u0641\u0642 \u0627\u0644\u0645\u064f\u0642\u0631\u0636 \u0639\u0644\u0649 \u0642\u0631\u0636\u0643\u060c \u0648\u064a\u0646\u0641\u0630 \u0627\u0644\u0648\u0633\u064a\u0637 \u0635\u0641\u0642\u062a\u0643\u060c \u0648\u064a\u0642\u0648\u0645 \u0645\u0639\u0627\u0644\u062c \u0627\u0644\u062f\u0641\u0639 \u0628\u062a\u062d\u0648\u064a\u0644 \u0623\u0645\u0648\u0627\u0644\u0643. \u062a\u062a\u0636\u0645\u0646 \u0643\u0644 \u062e\u0637\u0648\u0629 \u0648\u0633\u064a\u0637\u064b\u0627 \u0645\u0648\u062b\u0648\u0642\u064b\u0627 \u0628\u0647 \u064a\u0645\u0643\u0646\u0647 \u0631\u0641\u0636 \u0627\u0644\u0625\u062c\u0631\u0627\u0621 \u0623\u0648 \u062a\u0623\u062e\u064a\u0631\u0647 \u0623\u0648 \u0639\u0643\u0633\u0647. \u0623\u0645\u0627 \u0641\u064a DeFi\u060c \u0641\u0625\u0646 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062a\u0646\u0641\u064a\u0630 \u062a\u0624\u062f\u064a \u0647\u0630\u0647 \u0627\u0644\u0648\u0638\u0627\u0626\u0641 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627 \u0639\u0646\u062f \u0627\u0633\u062a\u064a\u0641\u0627\u0621 \u0627\u0644\u0634\u0631\u0648\u0637 \u0627\u0644\u0645\u062d\u062f\u062f\u0629 \u0645\u0633\u0628\u0642\u064b\u0627\u060c \u062f\u0648\u0646 \u0623\u064a \u062a\u062f\u062e\u0644 \u0628\u0634\u0631\u064a.<\/p>\n<p>\u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0630\u0643\u064a \u0647\u0648 \u0628\u0631\u0646\u0627\u0645\u062c \u0645\u062e\u0632\u0646 \u0639\u0644\u0649 \u0633\u0644\u0633\u0644\u0629 \u0643\u062a\u0644 (blockchain) \u2014 \u0648\u062a\u0639\u062f Ethereum \u0627\u0644\u0645\u0646\u0635\u0629 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629 \u0644\u0640 DeFi \u2014 \u064a\u062a\u0645 \u062a\u0646\u0641\u064a\u0630\u0647 \u0639\u0646\u062f \u0627\u0633\u062a\u064a\u0641\u0627\u0621 \u0645\u062f\u062e\u0644\u0627\u062a\u0647. \u0645\u062b\u0627\u0644 \u0628\u0633\u064a\u0637 \u0639\u0644\u0649 \u0627\u0644\u0645\u0646\u0637\u0642 \u0627\u0644\u0630\u064a \u064a\u062d\u0643\u0645 \u0645\u0628\u0627\u062f\u0644\u0629 \u0627\u0644\u0631\u0645\u0648\u0632 \u0639\u0644\u0649 \u0627\u0644\u062a\u0628\u0627\u062f\u0644\u0627\u062a \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u0647\u0648: &#8220;\u0625\u0630\u0627 \u0623\u0631\u0633\u0644\u062a \u0623\u0644\u064a\u0633 1 ETH\u060c \u0623\u0631\u0633\u0644 \u0644\u0647\u0627 100 USDC&#8221;. \u0641\u064a \u0627\u0644\u062a\u0635\u0645\u064a\u0645\u0627\u062a \u063a\u064a\u0631 \u0627\u0644\u0642\u0627\u0628\u0644\u0629 \u0644\u0644\u062a\u0631\u0642\u064a\u0629\u060c \u0644\u0627 \u064a\u0645\u0643\u0646 \u0644\u0623\u064a \u0637\u0631\u0641 \u062a\u062c\u0627\u0648\u0632 \u0627\u0644\u0639\u0642\u062f \u0628\u0639\u062f \u0646\u0634\u0631\u0647\u060c \u0644\u0630\u0627 \u064a\u0639\u0645\u0644 \u0627\u0644\u0643\u0648\u062f \u0643\u0645\u0627 \u0647\u0648 \u0645\u0643\u062a\u0648\u0628. \u0623\u0645\u0627 \u0641\u064a \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0642\u0627\u0628\u0644\u0629 \u0644\u0644\u062a\u0631\u0642\u064a\u0629 \u0623\u0648 \u0627\u0644\u0645\u064f\u062f\u0627\u0631\u0629\u060c \u064a\u0645\u0643\u0646 \u0644\u0645\u0641\u0627\u062a\u064a\u062d \u0627\u0644\u0625\u062f\u0627\u0631\u0629 \u0623\u0648 \u0645\u0641\u0627\u062a\u064a\u062d \u0627\u0644\u0625\u064a\u0642\u0627\u0641 \u0627\u0644\u0645\u0624\u0642\u062a \u0623\u0648 <a href=\"https:\/\/www.dztecs.com\/blockchain\/decentralized-autonomous-organization-dao\/\">\u062a\u0635\u0648\u064a\u062a\u0627\u062a \u0627\u0644\u062d\u0648\u0643\u0645\u0629<\/a> \u0623\u0648 \u062a\u063a\u064a\u064a\u0631\u0627\u062a \u0627\u0644\u0648\u062d\u062f\u0627\u062a \u0623\u0646 \u062a\u063a\u064a\u0631 \u0633\u0644\u0648\u0643 \u0627\u0644\u0646\u0638\u0627\u0645.<\/p>\n<p>\u064a\u062a\u0641\u0627\u0639\u0644 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0648\u0646 \u0645\u0639 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0639\u0628\u0631 \u0645\u062d\u0641\u0638\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062d\u0641\u0638 \u0645\u062a\u0635\u0644\u0629 \u0645\u0628\u0627\u0634\u0631\u0629 \u0628\u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644. \u0641\u064a \u0645\u0639\u0638\u0645 \u0627\u0644\u062d\u0627\u0644\u0627\u062a\u060c \u0644\u0627 \u064a\u0648\u062c\u062f \u0625\u0646\u0634\u0627\u0621 \u062d\u0633\u0627\u0628 \u0639\u0644\u0649 \u0645\u0633\u062a\u0648\u0649 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0623\u0648 \u0642\u0627\u0626\u0645\u0629 \u0627\u0646\u062a\u0638\u0627\u0631 \u0644\u0644\u0645\u0648\u0627\u0641\u0642\u0629\u060c \u0648\u0644\u0627 \u062a\u062a\u0637\u0644\u0628 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0641\u062d\u0648\u0635\u0627\u062a &#8220;\u0627\u0639\u0631\u0641 \u0639\u0645\u064a\u0644\u0643&#8221; (KYC) \u0639\u0644\u0649 \u0637\u0628\u0642\u0629 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629. \u0644\u0627 \u064a\u0632\u0627\u0644 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0628\u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0635\u062d\u064a\u062d\u0629\u060c \u0648\u0643\u0645\u064a\u0629 \u0643\u0627\u0641\u064a\u0629 \u0645\u0646 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0623\u0635\u0644\u064a \u0644\u0644\u0634\u0628\u0643\u0629 \u0644\u062f\u0641\u0639 \u0627\u0644\u0631\u0633\u0648\u0645\u060c \u0648\u0645\u0633\u0627\u0631 \u0648\u0635\u0648\u0644 \u063a\u064a\u0631 \u0645\u062d\u0638\u0648\u0631 \u0628\u0648\u0627\u0633\u0637\u0629 \u0648\u0627\u062c\u0647\u0629 \u0623\u0645\u0627\u0645\u064a\u0629 \u0623\u0648 \u0633\u064a\u0627\u0633\u0629 \u0645\u062d\u0641\u0638\u0629 \u0623\u0648 \u0642\u064a\u0648\u062f \u0645\u062d\u0644\u064a\u0629.<\/p>\n<p>\u062a\u064f\u0639\u062f \u0642\u0627\u0628\u0644\u064a\u0629 \u0627\u0644\u062a\u0631\u0643\u064a\u0628 (Composability) \u0647\u064a \u0645\u0627 \u064a\u0645\u064a\u0632 DeFi \u0639\u0646 \u0645\u062c\u0645\u0648\u0639\u0629 \u0645\u0646 \u0627\u0644\u062a\u0637\u0628\u064a\u0642\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u0639\u0632\u0648\u0644\u0629. \u0635\u064f\u0645\u0645\u062a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0644\u062a\u062a\u0641\u0627\u0639\u0644 \u0641\u064a\u0645\u0627 \u0628\u064a\u0646\u0647\u0627 \u2014 \u062d\u064a\u062b \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u0635\u0628\u062d \u0645\u062e\u0631\u064e\u062c \u0643\u0644 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0645\u062f\u062e\u0644\u064b\u0627 \u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0622\u062e\u0631\u060c \u0648\u0644\u0647\u0630\u0627 \u0627\u0644\u0633\u0628\u0628 \u064a\u064f\u0637\u0644\u0642 \u0639\u0644\u0649 \u0647\u0630\u0627 \u0627\u0644\u0645\u062c\u0627\u0644 \u0623\u062d\u064a\u0627\u0646\u064b\u0627 \u0627\u0633\u0645 &#8220;Money Legos&#8221;. \u062a\u064f\u0638\u0647\u0631 <a href=\"https:\/\/www.dztecs.com\/blockchain\/flash-loan\/\">\u0627\u0644\u0642\u0631\u0648\u0636 \u0627\u0644\u0633\u0631\u064a\u0639\u0629<\/a> \u0643\u064a\u0641 \u064a\u0639\u0645\u0644 \u0647\u0630\u0627 \u0639\u0645\u0644\u064a\u064b\u0627: \u0641\u0641\u064a \u0645\u0639\u0627\u0645\u0644\u0629 \u0648\u0627\u062d\u062f\u0629 \u0639\u0644\u0649 Ethereum\u060c \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0627\u0642\u062a\u0631\u0627\u0636 \u0645\u0644\u064a\u0648\u0646 \u062f\u0648\u0644\u0627\u0631 \u0645\u0646 Aave \u062f\u0648\u0646 \u0636\u0645\u0627\u0646\u0627\u062a\u060c \u0648\u062a\u062f\u0627\u0648\u0644 \u0647\u0630\u0647 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0639\u0644\u0649 Uniswap\u060c \u0648\u0633\u062f\u0627\u062f \u0642\u0631\u0636 Aave \u0645\u0639 \u0627\u0644\u0641\u0627\u0626\u062f\u0629\u060c \u0648\u0627\u0644\u0627\u062d\u062a\u0641\u0627\u0638 \u0628\u0623\u064a \u0631\u0628\u062d \u062a\u062d\u0643\u064a\u0645 (arbitrage profit) \u2014 \u0643\u0644 \u0630\u0644\u0643 \u0641\u064a \u0639\u0645\u0644\u064a\u0629 \u0630\u0631\u064a\u0629 \u0648\u0627\u062d\u062f\u0629 \u0625\u0645\u0627 \u0623\u0646 \u062a\u0646\u062c\u062d \u0628\u0627\u0644\u0643\u0627\u0645\u0644 \u0623\u0648 \u062a\u064f\u0639\u0627\u062f \u0628\u0627\u0644\u0643\u0627\u0645\u0644. \u0644\u0627 \u064a\u0645\u0643\u0646 \u0644\u0645\u0624\u0633\u0633\u0629 \u0648\u0627\u062d\u062f\u0629 \u0623\u0646 \u062a\u0642\u062f\u0645 \u0647\u0630\u0627. \u064a\u062a\u0637\u0644\u0628 \u0627\u0644\u0623\u0645\u0631 \u0642\u0627\u0628\u0644\u064a\u0629 \u0627\u0644\u062a\u0631\u0643\u064a\u0628 \u0639\u0628\u0631 \u062b\u0644\u0627\u062b\u0629 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0645\u0633\u062a\u0642\u0644\u0629 \u062a\u0639\u0645\u0644 \u0639\u0644\u0649 \u0646\u0641\u0633 \u0633\u0644\u0633\u0644\u0629 \u0627\u0644\u0643\u062a\u0644. \u064a\u0642\u062f\u0645 \u0642\u0633\u0645 \u0627\u0644\u0642\u0631\u0648\u0636 \u0627\u0644\u0633\u0631\u064a\u0639\u0629 \u0623\u062f\u0646\u0627\u0647 \u062a\u0641\u0635\u064a\u0644\u064b\u0627 \u0623\u0639\u0645\u0642 \u0644\u0643\u064a\u0641\u064a\u0629 \u0639\u0645\u0644\u0647\u0627 \u0648\u0645\u0648\u0627\u0637\u0646 \u0627\u0644\u0645\u062e\u0627\u0637\u0631.<\/p>\n<\/section>\n<header>\n<h2 id=\"section-4\">\u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0627\u062a DeFi<\/h2>\n<\/header>\n<p>\u062a\u063a\u0637\u064a DeFi (\u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a) \u0645\u062c\u0645\u0648\u0639\u0629 \u0648\u0627\u0633\u0639\u0629 \u0645\u0646 \u0627\u0644\u0623\u0646\u0634\u0637\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629. \u064a\u0645\u062b\u0644 \u0643\u0644 \u062a\u0635\u0646\u064a\u0641 \u0631\u0626\u064a\u0633\u064a \u0623\u062f\u0646\u0627\u0647 \u0641\u0626\u0629 \u0645\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a\u060c \u0648\u0644\u064a\u0633 \u062a\u0637\u0628\u064a\u0642\u064b\u0627 \u0648\u0627\u062d\u062f\u064b\u0627.<\/p>\n<h3>\u0627\u0644\u0641\u0631\u0642 \u0628\u064a\u0646 \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0648\u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0648\u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f \u0648\u062a\u0648\u0641\u064a\u0631 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0641\u064a DeFi<\/h3>\n<p>\u063a\u0627\u0644\u0628\u064b\u0627 \u0645\u0627 \u064a\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0648\u0646 \u0645\u0635\u0637\u0644\u062d &#8220;DeFi staking&#8221; \u0643\u0639\u0628\u0627\u0631\u0629 \u0634\u0627\u0645\u0644\u0629 \u0644\u0643\u0633\u0628 \u0627\u0644\u0639\u0627\u0626\u062f \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 (on-chain). \u064a\u062e\u0644\u0642 \u0647\u0630\u0627 \u0627\u0644\u0645\u0635\u0637\u0644\u062d \u0627\u0631\u062a\u0628\u0627\u0643\u064b\u0627 \u0644\u0623\u0646 \u0637\u0631\u0642 \u0643\u0633\u0628 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u0641\u064a DeFi \u062a\u0639\u0645\u0644 \u0628\u0637\u0631\u0642 \u0645\u062a\u0628\u0627\u064a\u0646\u0629 \u0648\u062a\u062d\u0645\u0644 \u0645\u062e\u0627\u0637\u0631 \u0645\u062e\u062a\u0644\u0641\u0629.<\/p>\n<p>\u0642\u0628\u0644 \u0625\u064a\u062f\u0627\u0639 \u0627\u0644\u0623\u0635\u0648\u0644\u060c \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0623\u0646 \u064a\u0639\u0631\u0641 \u0645\u0627 \u0627\u0644\u0630\u064a \u064a\u0648\u0644\u062f \u0627\u0644\u0639\u0627\u0626\u062f \u0628\u0627\u0644\u0641\u0639\u0644. \u064a\u062e\u062a\u0644\u0641 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0646\u0627\u062a\u062c \u0639\u0646 \u0641\u0627\u0626\u062f\u0629 \u0627\u0644\u0645\u0642\u062a\u0631\u0636 \u0639\u0646 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0645\u062f\u0641\u0648\u0639 \u0641\u064a \u0631\u0645\u0632 \u0645\u0645\u064a\u0632 \u0645\u064f\u0635\u062f\u0631 \u062d\u062f\u064a\u062b\u064b\u0627\u060c \u0648\u0643\u0644\u0627\u0647\u0645\u0627 \u064a\u062e\u062a\u0644\u0641 \u0639\u0646 \u0631\u0633\u0648\u0645 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0641\u064a \u0645\u062c\u0645\u0639 \u0627\u0644\u0633\u064a\u0648\u0644\u0629. \u064a\u0648\u0636\u062d \u0627\u0644\u062c\u062f\u0648\u0644 \u0623\u062f\u0646\u0627\u0647 \u0643\u0644 \u0637\u0631\u064a\u0642\u0629.<\/p>\n<table>\n<thead>\n<tr>\n<th>\u0637\u0631\u064a\u0642\u0629 \u0627\u0644\u0639\u0627\u0626\u062f<\/th>\n<th>\u0645\u0627\u0630\u0627 \u062a\u0639\u0646\u064a \u0628\u0627\u0644\u0641\u0639\u0644<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Staking<\/td>\n<td>\u064a\u0642\u0648\u0645 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0628\u0642\u0641\u0644 \u0623\u0648 \u062a\u0641\u0648\u064a\u0636 \u0623\u0635\u0644 \u0634\u0628\u0643\u0629 \u0644\u0644\u0645\u0633\u0627\u0639\u062f\u0629 \u0641\u064a \u062a\u0623\u0645\u064a\u0646 \u0628\u0644\u0648\u0643\u062a\u0634\u064a\u0646 \u064a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0625\u062b\u0628\u0627\u062a \u0627\u0644\u062d\u0635\u0629 (proof-of-stake). \u062a\u0623\u062a\u064a \u0627\u0644\u0645\u0643\u0627\u0641\u0622\u062a \u0639\u0627\u062f\u0629\u064b \u0645\u0646 \u0625\u0635\u062f\u0627\u0631 \u0627\u0644\u0634\u0628\u0643\u0629 \u0623\u0648 \u0631\u0633\u0648\u0645 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a.<\/td>\n<\/tr>\n<tr>\n<td>Liquid staking<\/td>\n<td>\u064a\u0648\u062f\u0639 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0623\u0635\u0644\u064b\u0627 \u0645\u062b\u0644 ETH \u0641\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 Staking \u0648\u064a\u0633\u062a\u0644\u0645 \u0631\u0645\u0632\u064b\u0627 \u0633\u0627\u0626\u0644\u064b\u0627 \u064a\u0645\u062b\u0644 \u0627\u0644\u0645\u0631\u0643\u0632 \u0627\u0644\u0645\u0631\u0628\u0648\u0637.<\/td>\n<\/tr>\n<tr>\n<td>Lending<\/td>\n<td>\u064a\u0632\u0648\u062f \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0623\u0635\u0648\u0644 \u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0625\u0642\u0631\u0627\u0636. \u064a\u062f\u0641\u0639 \u0627\u0644\u0645\u0642\u062a\u0631\u0636\u0648\u0646 \u0641\u0627\u0626\u062f\u0629 \u0645\u062a\u063a\u064a\u0631\u0629\u060c \u0648\u064a\u0642\u0648\u0645 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0628\u062a\u0648\u0632\u064a\u0639 \u0647\u0630\u0647 \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u0639\u0644\u0649 \u0627\u0644\u0645\u0648\u0631\u062f\u064a\u0646.<\/td>\n<\/tr>\n<tr>\n<td>Liquidity providing<\/td>\n<td>\u064a\u0648\u062f\u0639 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0623\u0635\u0644\u064a\u0646 \u0641\u064a \u0645\u062c\u0645\u0639 \u062a\u062f\u0627\u0648\u0644. \u064a\u0643\u0633\u0628 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u062d\u0635\u0629 \u0645\u0646 \u0631\u0633\u0648\u0645 \u0627\u0644\u0645\u0642\u0627\u064a\u0636\u0629 \u0648\u0644\u0643\u0646\u0647 \u0642\u062f \u064a\u062e\u0633\u0631 \u0642\u064a\u0645\u0629 \u0628\u0633\u0628\u0628 \u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629 (impermanent loss).<\/td>\n<\/tr>\n<tr>\n<td>Yield farming<\/td>\n<td>\u064a\u0646\u0642\u0644 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0623\u0635\u0648\u0644 \u0628\u064a\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0644\u0643\u0633\u0628 \u0645\u0643\u0627\u0641\u0622\u062a \u0631\u0645\u0632\u064a\u0629 \u0625\u0636\u0627\u0641\u064a\u0629. \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u0646\u062e\u0641\u0636 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0633\u0646\u0648\u064a \u0627\u0644\u0645\u0639\u0644\u0646 (APY) \u0628\u0633\u0631\u0639\u0629 \u0639\u0646\u062f\u0645\u0627 \u062a\u0646\u062e\u0641\u0636 \u0627\u0644\u0645\u0643\u0627\u0641\u0622\u062a \u0623\u0648 \u064a\u0641\u0642\u062f \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 \u0644\u0644\u0645\u0643\u0627\u0641\u0623\u0629 \u0642\u064a\u0645\u062a\u0647.<\/td>\n<\/tr>\n<tr>\n<td>RWA yield<\/td>\n<td>\u0645\u0646\u062a\u062c \u0631\u0645\u0632\u064a \u064a\u0645\u0631\u0631 \u0627\u0644\u0639\u0627\u0626\u062f \u0645\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u062e\u0627\u0631\u062c \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u0645\u062b\u0644 \u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0632\u0627\u0646\u0629 \u0623\u0648 \u0627\u0644\u0627\u0626\u062a\u0645\u0627\u0646 \u0627\u0644\u062e\u0627\u0635. \u064a\u0636\u064a\u0641 \u0647\u0630\u0627 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0645\u0635\u062f\u0631\u060c \u0627\u0644\u062d\u0641\u0638\u060c \u0627\u0644\u0627\u0633\u062a\u0631\u062f\u0627\u062f\u060c \u0648\u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0642\u0627\u0646\u0648\u0646\u064a\u0629.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u0627\u0644\u0631\u0642\u0645 \u0627\u0644\u0630\u064a \u064a\u0628\u062f\u0648 \u0627\u0644\u0623\u0643\u062b\u0631 \u0623\u0645\u0627\u0646\u064b\u0627 \u0644\u064a\u0633 \u062f\u0627\u0626\u0645\u064b\u0627 \u0647\u0648 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0623\u0643\u062b\u0631 \u0623\u0645\u0627\u0646\u064b\u0627. \u064a\u064f\u0639\u062f \u0625\u0642\u0631\u0627\u0636 Stablecoin \u0639\u0644\u0649 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0631\u0627\u0633\u062e\u0629 \u0623\u0633\u0647\u0644 \u0641\u0647\u0645\u064b\u0627 \u0645\u0646 \u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0644\u0644\u0631\u0645\u0648\u0632 \u0627\u0644\u0645\u062a\u0642\u0644\u0628\u0629\u060c \u0648\u0644\u0643\u0646\u0647 \u0644\u0627 \u064a\u0632\u0627\u0644 \u064a\u062d\u0645\u0644 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629\u060c Stablecoin\u060c Oracle\u060c \u0627\u0644\u062a\u0635\u0641\u064a\u0629\u060c \u0648\u0627\u0644\u0633\u062d\u0628.<\/p>\n<h3>\u0627\u0644\u0628\u0648\u0631\u0635\u0627\u062a \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 (DEX)<\/h3>\n<p>\u062a\u064f\u0645\u0643\u0651\u0646 DEX \u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0631\u0645\u0648\u0632 \u062f\u0648\u0646 \u0627\u0644\u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0645\u0634\u063a\u0644 \u0645\u0631\u0643\u0632\u064a. \u062a\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0628\u0648\u0631\u0635\u0627\u062a DEX\u060c \u0628\u0645\u0627 \u0641\u064a \u0630\u0644\u0643 Uniswap\u060c \u0646\u0645\u0648\u0630\u062c <a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-amm\/\">\u0635\u0627\u0646\u0639 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a (AMM)<\/a>. \u064a\u0642\u0648\u0645 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0648\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u0639\u0645\u0644\u0648\u0646 \u0643\u0645\u0632\u0648\u062f\u064a \u0633\u064a\u0648\u0644\u0629 \u0641\u064a DeFi \u0628\u0625\u064a\u062f\u0627\u0639 \u0623\u0632\u0648\u0627\u062c \u0645\u0646 \u0627\u0644\u0631\u0645\u0648\u0632 \u0641\u064a \u0645\u062c\u0645\u0639\u0627\u062a\u060c \u0648\u062a\u062d\u062f\u062f \u062e\u0648\u0627\u0631\u0632\u0645\u064a\u0629 \u062a\u0633\u0639\u064a\u0631 \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0635\u0631\u0641 \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0646\u0633\u0628\u0629 \u0627\u0644\u0623\u0635\u0648\u0644 \u0641\u064a \u0643\u0644 \u0645\u062c\u0645\u0639. \u062a\u0633\u062a\u062e\u062f\u0645 \u062a\u0635\u0645\u064a\u0645\u0627\u062a DEX \u0627\u0644\u0623\u062e\u0631\u0649 \u062f\u0641\u0627\u062a\u0631 \u0627\u0644\u0623\u0648\u0627\u0645\u0631 \u0623\u0648 \u0627\u0644\u062a\u0648\u062c\u064a\u0647 \u0627\u0644\u0647\u062c\u064a\u0646\u060c \u0644\u0630\u0627 \u064a\u062c\u0628 \u0627\u0644\u062a\u0639\u0627\u0645\u0644 \u0645\u0639 DEX \u0643\u0641\u0626\u0629 \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0646\u0645\u0648\u0630\u062c \u062a\u0646\u0641\u064a\u0630 \u0648\u0627\u062d\u062f. \u064a\u062f\u0641\u0639 \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u0648\u0646 \u0631\u0633\u0648\u0645\u064b\u0627 \u0635\u063a\u064a\u0631\u0629 \u062a\u064f\u0634\u0627\u0631\u0643 \u0628\u064a\u0646 \u0627\u0644\u0645\u0648\u062f\u0639\u064a\u0646.<\/p>\n<h3>\u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0648\u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636<\/h3>\n<p>\u062a\u062a\u064a\u062d Aave \u0648Compound \u0644\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u062a\u0648\u0641\u064a\u0631 \u0623\u0635\u0648\u0644 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0641\u064a \u0645\u062c\u0645\u0639\u0627\u062a \u0645\u0634\u062a\u0631\u0643\u0629 \u0648\u0643\u0633\u0628 \u0627\u0644\u0641\u0627\u0626\u062f\u0629\u060c \u0623\u0648 \u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636 \u0645\u0642\u0627\u0628\u0644 \u0645\u0645\u062a\u0644\u0643\u0627\u062a\u0647\u0645 \u0627\u0644\u062d\u0627\u0644\u064a\u0629 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u062f\u0648\u0646 \u0627\u0644\u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0641\u062d\u0635 \u0627\u0626\u062a\u0645\u0627\u0646\u064a. \u064a\u062c\u0628 \u0623\u0646 \u062a\u062a\u062c\u0627\u0648\u0632 \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0645\u0628\u0644\u063a \u0627\u0644\u0645\u0642\u062a\u0631\u0636 \u2014 \u0625\u0630\u0627 \u0627\u0646\u062e\u0641\u0636\u062a \u0639\u0646 \u062d\u062f \u0645\u0639\u064a\u0646 \u064a\u062d\u062f\u062f\u0647 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u060c \u064a\u0642\u0648\u0645 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0628\u062a\u0635\u0641\u064a\u062a\u0647\u0627 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627 \u0644\u062d\u0645\u0627\u064a\u0629 \u0627\u0644\u0645\u0642\u0631\u0636\u064a\u0646. \u0644\u0627 \u064a\u0648\u062c\u062f \u0645\u0648\u0638\u0641\u0648 \u0642\u0631\u0648\u0636 \u0623\u0648 \u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0627\u0626\u062a\u0645\u0627\u0646\u064a\u0629 \u064a\u062f\u0648\u064a\u0629 \u0639\u0644\u0649 \u0645\u0633\u062a\u0648\u0649 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u060c \u0648\u0644\u0643\u0646 \u0627\u0644\u0648\u0635\u0648\u0644 \u0645\u0646 \u0627\u0644\u0648\u0627\u062c\u0647\u0629 \u0627\u0644\u0623\u0645\u0627\u0645\u064a\u0629\u060c \u0648\u0633\u064a\u0627\u0633\u0629 \u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a\u060c \u0648\u0627\u0644\u0642\u0627\u0646\u0648\u0646 \u0627\u0644\u0645\u062d\u0644\u064a \u0644\u0627 \u064a\u0632\u0627\u0644 \u0628\u0625\u0645\u0643\u0627\u0646\u0647 \u0627\u0644\u062a\u0623\u062b\u064a\u0631 \u0639\u0644\u0649 \u0645\u0646 \u064a\u0645\u0643\u0646\u0647 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u062e\u062f\u0645\u0629 \u0645\u0639\u064a\u0646\u0629.<\/p>\n<h3>\u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f (Yield Farming)<\/h3>\n<p>\u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f \u2014 \u0648\u0627\u0644\u062a\u064a \u062a\u064f\u0639\u0631\u0641 \u0623\u064a\u0636\u064b\u0627 \u0628\u062a\u0639\u062f\u064a\u0646 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u2014 \u062a\u062a\u064a\u062d \u0644\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0643\u0633\u0628 \u0645\u0643\u0627\u0641\u0622\u062a \u0631\u0645\u0632\u064a\u0629 \u0625\u0636\u0627\u0641\u064a\u0629 \u0639\u0646 \u0637\u0631\u064a\u0642 \u062a\u0648\u0641\u064a\u0631 \u0627\u0644\u0623\u0635\u0648\u0644 \u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0645\u0639\u064a\u0646. \u063a\u0627\u0644\u0628\u064b\u0627 \u0645\u0627 \u062a\u0639\u0644\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u062c\u062f\u064a\u062f\u0629 \u0639\u0646 \u0639\u0648\u0627\u0626\u062f \u0633\u0646\u0648\u064a\u0629 (APY) \u0639\u0627\u0644\u064a\u0629 \u062c\u062f\u064b\u0627 \u0644\u062c\u0630\u0628 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0645\u0628\u0643\u0631\u060c \u062a\u064f\u062f\u0641\u0639 \u0639\u0644\u0649 \u0634\u0643\u0644 \u0631\u0645\u0632 \u062d\u0648\u0643\u0645\u0629 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0627\u0644\u062e\u0627\u0635 \u0628\u0647\u0627. \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u0646\u0647\u0627\u0631 \u0647\u0630\u0647 \u0627\u0644\u0645\u0643\u0627\u0641\u0622\u062a \u0628\u0633\u0631\u0639\u0629 \u0639\u0646\u062f\u0645\u0627 \u064a\u0641\u0642\u062f \u0627\u0644\u0631\u0645\u0632 \u0642\u064a\u0645\u062a\u0647\u060c \u0648\u062a\u0634\u064a\u0631 \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0627\u0644\u0623\u0639\u0644\u0649 \u0628\u0634\u0643\u0644 \u0645\u0648\u062b\u0648\u0642 \u0625\u0644\u0649 \u0645\u062e\u0627\u0637\u0631 \u0623\u0639\u0644\u0649. \u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f \u0647\u064a \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0646\u0634\u0637\u0629 \u0648\u0644\u064a\u0633\u062a \u0633\u0644\u0628\u064a\u0629.<\/p>\n<h3>\u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0627\u0644\u0633\u0627\u0626\u0644 (Liquid Staking)<\/h3>\n<p>\u062a\u0639\u0627\u0644\u062c \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a <a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-liquid-staking\/\">\u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0627\u0644\u0633\u0627\u0626\u0644<\/a> \u0642\u064a\u0648\u062f\u064b\u0627 \u0645\u062d\u062f\u062f\u0629 \u0641\u064a \u0646\u0638\u0627\u0645 \u0625\u062b\u0628\u0627\u062a \u0627\u0644\u062d\u0635\u0629 (proof-of-stake) \u0627\u0644\u062e\u0627\u0635 \u0628\u0640 Ethereum: \u062d\u064a\u062b \u064a\u062a\u0645 \u0642\u0641\u0644 ETH \u0627\u0644\u0645\u0631\u0628\u0648\u0637 \u0648\u0644\u0627 \u064a\u0645\u0643\u0646 \u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0647 \u0641\u064a \u0623\u064a \u0645\u0643\u0627\u0646 \u0622\u062e\u0631 \u0623\u062b\u0646\u0627\u0621 \u0643\u0633\u0628 \u0627\u0644\u0639\u0627\u0626\u062f. \u064a\u0642\u0628\u0644 Lido \u0648\u062f\u0627\u0626\u0639 ETH \u0648\u064a\u0635\u062f\u0631 stETH \u2014 \u0648\u0647\u0648 \u0631\u0645\u0632 \u064a\u0645\u062b\u0644 \u0627\u0644\u0645\u0631\u0643\u0632 \u0627\u0644\u0645\u0631\u0628\u0648\u0637 \u2014 \u0648\u0627\u0644\u0630\u064a \u064a\u0645\u0643\u0646 \u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0647 \u0639\u0628\u0631 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0627\u0644\u0623\u062e\u0631\u0649 \u0645\u0639 \u0627\u0644\u0627\u0633\u062a\u0645\u0631\u0627\u0631 \u0641\u064a \u062a\u062c\u0645\u064a\u0639 \u0645\u0643\u0627\u0641\u0622\u062a Staking. \u064a\u0638\u0644 Lido \u0623\u062d\u062f \u0623\u0643\u0628\u0631 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0627\u0644\u0633\u0627\u0626\u0644 \u0648\u0642\u062f \u0627\u062d\u062a\u0644 \u063a\u0627\u0644\u0628\u064b\u0627 \u0645\u0631\u0627\u062a\u0628 \u0645\u062a\u0642\u062f\u0645\u0629 \u0641\u064a \u062c\u062f\u0627\u0648\u0644 TVL \u0644\u0640 DeFi\u060c \u0639\u0644\u0649 \u0627\u0644\u0631\u063a\u0645 \u0645\u0646 \u0623\u0646 \u0627\u0644\u062a\u0635\u0646\u064a\u0641\u0627\u062a \u062a\u062a\u063a\u064a\u0631 \u0645\u0639 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0648\u0627\u0644\u0645\u0646\u0647\u062c\u064a\u0627\u062a.<\/p>\n<h3>\u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 (Stablecoins)<\/h3>\n<p>DAI \u2014 \u0627\u0644\u0630\u064a \u062a\u062d\u0643\u0645\u0647 MakerDAO\u060c \u0648\u064a\u0639\u0645\u0644 \u0627\u0644\u0622\u0646 \u062a\u062d\u062a \u0639\u0644\u0627\u0645\u0629 Sky Protocol \u0627\u0644\u062a\u062c\u0627\u0631\u064a\u0629 \u2014 \u0647\u0648 Stablecoin \u0645\u062f\u0639\u0648\u0645 \u0628\u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0648\u0645\u064f\u0635\u062f\u0631 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 (on-chain). \u0639\u0644\u0649 \u0639\u0643\u0633 USDT \u0623\u0648 USDC\u060c \u0627\u0644\u0645\u062f\u0639\u0648\u0645\u062a\u064a\u0646 \u0628\u0627\u062d\u062a\u064a\u0627\u0637\u064a\u0627\u062a \u062f\u0648\u0644\u0627\u0631\u064a\u0629 \u062e\u0627\u0631\u062c \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u062a\u062d\u062a\u0641\u0638 \u0628\u0647\u0627 \u0627\u0644\u0634\u0631\u0643\u0627\u062a\u060c \u0641\u0625\u0646 DAI \u0645\u062f\u0639\u0648\u0645 \u0628\u0636\u0645\u0627\u0646\u0627\u062a \u0645\u0634\u0641\u0631\u0629 \u0632\u0627\u0626\u062f\u0629 \u0645\u0642\u0641\u0644\u0629 \u0641\u064a \u0639\u0642\u0648\u062f \u0630\u0643\u064a\u0629\u060c \u0648\u064a\u062d\u0643\u0645\u0647\u0627 \u062d\u0627\u0645\u0644\u0648 \u0627\u0644\u0631\u0645\u0648\u0632 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u062a\u0635\u0648\u064a\u062a \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629. \u064a\u0638\u0644 DAI \u0623\u062d\u062f \u0627\u0644\u0648\u062d\u062f\u0627\u062a \u0627\u0644\u062d\u0633\u0627\u0628\u064a\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0627\u0644\u0645\u0642\u0648\u0645\u0629 \u0628\u0627\u0644\u062f\u0648\u0644\u0627\u0631 \u0641\u064a DeFi\u060c \u0625\u0644\u0649 \u062c\u0627\u0646\u0628 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0627\u0644\u0645\u062f\u0639\u0648\u0645\u0629 \u0628\u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0648\u0631\u0642\u064a\u0629 \u0645\u062b\u0644 USDC \u0648USDT. \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u0628\u062d\u062b\u0648\u0646 \u0639\u0646 Stablecoins \u0645\u0642\u0627\u0631\u0646\u0629 \u0627\u0644\u0646\u0645\u0627\u0630\u062c \u0627\u0644\u0645\u0631\u0643\u0632\u064a\u0629 \u0648\u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u0642\u0628\u0644 \u0627\u0644\u062a\u0639\u0627\u0645\u0644 \u0645\u0639 \u0623\u064a \u0631\u0645\u0632 \u062f\u0648\u0644\u0627\u0631\u064a \u0639\u0644\u0649 \u0623\u0646\u0647 \u0642\u0627\u0628\u0644 \u0644\u0644\u062a\u0628\u0627\u062f\u0644.<\/p>\n<h3>\u0627\u0644\u0642\u0631\u0648\u0636 \u0627\u0644\u0633\u0631\u064a\u0639\u0629 (Flash Loans)<\/h3>\n<p>\u0627\u0644\u0642\u0631\u0648\u0636 \u0627\u0644\u0633\u0631\u064a\u0639\u0629 \u0647\u064a \u0642\u0631\u0648\u0636 \u063a\u064a\u0631 \u0645\u0636\u0645\u0648\u0646\u0629 \u064a\u062c\u0628 \u0627\u0642\u062a\u0631\u0627\u0636\u0647\u0627 \u0648\u0633\u062f\u0627\u062f\u0647\u0627 \u0628\u0627\u0644\u0643\u0627\u0645\u0644 \u0636\u0645\u0646 \u0645\u0639\u0627\u0645\u0644\u0629 \u0628\u0644\u0648\u0643\u062a\u0634\u064a\u0646 \u0648\u0627\u062d\u062f\u0629. \u0625\u0630\u0627 \u0644\u0645 \u064a\u062a\u0645 \u0627\u0633\u062a\u064a\u0641\u0627\u0621 \u0634\u0631\u0637 \u0627\u0644\u0633\u062f\u0627\u062f\u060c 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\u062a\u0631\u0645\u064a\u0632 RWA \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u2014 \u0645\u062b\u0644 \u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0632\u0627\u0646\u0629 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629\u060c \u0648\u0627\u0644\u0627\u0626\u062a\u0645\u0627\u0646 \u0627\u0644\u062e\u0627\u0635\u060c \u0648\u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u062a\u062c\u0627\u0631\u064a\u0629 \u2014 \u0625\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644 \u0627\u0644\u0639\u0627\u0645\u0629. \u062a\u0635\u062f\u0631 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0645\u062b\u0644 Ondo Finance \u0648Centrifuge \u0631\u0645\u0648\u0632\u064b\u0627 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u0645\u062f\u0639\u0648\u0645\u0629 \u0628\u0623\u0635\u0648\u0644 \u062e\u0627\u0631\u062c 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\u0628\u0640 DeFi \u0639\u0628\u0631 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0648\u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629. \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u062a\u063a\u064a\u0631 \u0627\u0644\u062a\u0635\u0646\u064a\u0641\u0627\u062a \u0628\u0633\u0631\u0639\u0629 \u0645\u0639 \u062a\u062d\u0631\u0643 \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644\u060c \u0648\u062a\u062f\u0641\u0642 \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0628\u064a\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a\u060c \u0648\u062a\u0637\u0628\u064a\u0642 \u0644\u0648\u062d\u0627\u062a \u0627\u0644\u062a\u062d\u0643\u0645 \u0644\u0645\u0631\u0634\u062d\u0627\u062a \u0645\u062e\u062a\u0644\u0641\u0629. \u0644\u0630\u0627\u060c \u062a\u062d\u0642\u0642 \u0645\u0646 \u0644\u0648\u062d\u0629 \u0627\u0644\u062a\u062d\u0643\u0645 \u0627\u0644\u0645\u0628\u0627\u0634\u0631\u0629 \u0644\u0644\u062d\u0635\u0648\u0644 \u0639\u0644\u0649 \u0627\u0644\u0623\u0631\u0642\u0627\u0645 \u0627\u0644\u062d\u0627\u0644\u064a\u0629 \u0642\u0628\u0644 \u0627\u0644\u0627\u0639\u062a\u0645\u0627\u062f \u0639\u0644\u0649 \u0623\u064a \u062a\u0635\u0646\u064a\u0641 \u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644.<\/p>\n<p>\u064a\u062a\u062a\u0628\u0639 \u062a\u0627\u0631\u064a\u062e TVL \u0627\u0644\u062e\u0627\u0635 \u0628\u0640 DeFi \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0623\u0648\u0633\u0639 \u0644\u0640 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0639 \u062a\u0636\u062e\u064a\u0645. \u0627\u0646\u0647\u0627\u0631 \u0627\u0644\u0646\u0638\u0627\u0645 \u0627\u0644\u0628\u064a\u0626\u064a \u0628\u0634\u0643\u0644 \u062d\u0627\u062f \u0641\u064a \u0623\u0648\u0627\u062e\u0631 \u0639\u0627\u0645 2022 \u0628\u0639\u062f \u0627\u0646\u0647\u064a\u0627\u0631 FTX\u060c \u062b\u0645 \u062a\u0639\u0627\u0641\u0649 \u062e\u0644\u0627\u0644 \u0627\u0644\u062f\u0648\u0631\u0629 \u0627\u0644\u062a\u0627\u0644\u064a\u0629 \u0645\u0639 \u062a\u062d\u0633\u0646 \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644\u060c \u0648\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629\u060c \u0648\u0648\u062f\u0627\u0626\u0639 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a. \u064a\u062c\u0628 \u0630\u0643\u0631 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a\u0627\u062a \u0627\u0644\u062f\u0642\u064a\u0642\u0629 \u0645\u0639 \u062a\u0627\u0631\u064a\u062e \u0627\u0644\u0627\u0644\u062a\u0642\u0627\u0637 \u0648\u0645\u0644\u0627\u062d\u0638\u0629 \u0627\u0644\u0645\u0646\u0647\u062c\u064a\u0629\u060c \u0644\u0623\u0646 \u0625\u0639\u062f\u0627\u062f\u0627\u062a \u0644\u0648\u062d\u0629 \u0627\u0644\u062a\u062d\u0643\u0645 \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u062a\u0636\u0645\u0646 \u0623\u0648 \u062a\u0633\u062a\u0628\u0639\u062f \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0627\u0644\u0645\u062a\u0643\u0631\u0631\u0629 \u0648\u0627\u0644\u0645\u0631\u0627\u0643\u0632 \u0627\u0644\u0623\u062e\u0631\u0649 \u0627\u0644\u0645\u062d\u0633\u0648\u0628\u0629 \u0645\u0631\u062a\u064a\u0646.<\/p>\n<p>\u064a\u064f\u0639\u062f TVL \u0645\u0642\u064a\u0627\u0633\u064b\u0627 \u063a\u064a\u0631 \u0643\u0627\u0645\u0644 \u0644\u0633\u0628\u0628 \u0631\u0626\u064a\u0633\u064a \u0648\u0627\u062d\u062f: \u064a\u0645\u0643\u0646 \u062a\u0636\u062e\u064a\u0645\u0647 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0627\u0644\u0645\u062a\u0643\u0631\u0631\u0629 \u2014 \u062d\u064a\u062b \u064a\u062a\u0645 \u0627\u062d\u062a\u0633\u0627\u0628 \u0646\u0641\u0633 \u0627\u0644\u0623\u0635\u0644 \u0627\u0644\u0623\u0633\u0627\u0633\u064a \u0628\u0634\u0643\u0644 \u0645\u0646\u0641\u0635\u0644 \u0641\u064a \u0637\u0628\u0642\u0627\u062a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0645\u062a\u0639\u062f\u062f\u0629. \u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0630\u064a \u064a\u0642\u0648\u0645 \u0628\u0640 \u0633\u062a\u0627\u0643\u064a\u0646\u063a ETH \u0645\u0639 Lido \u0644\u0644\u062d\u0635\u0648\u0644 \u0639\u0644\u0649 stETH\u060c \u062b\u0645 \u064a\u0648\u062f\u0639 stETH \u0641\u064a Aave \u0643\u0636\u0645\u0627\u0646\u060c \u064a\u0633\u0627\u0647\u0645 \u0641\u064a \u0623\u0631\u0642\u0627\u0645 TVL \u0644\u0640 \u0643\u0644\u0627 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u064a\u0646 \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0623\u0635\u0644 \u0623\u0633\u0627\u0633\u064a \u0648\u0627\u062d\u062f. \u064a\u0642\u062f\u0645 DefiLlama \u0639\u0631\u0636\u064b\u0627 \u064a\u0633\u062a\u0628\u0639\u062f \u0627\u0644\u0639\u062f \u0627\u0644\u0645\u0632\u062f\u0648\u062c \u0644\u062a\u0635\u0641\u064a\u0629 \u0647\u0630\u0627 \u0627\u0644\u062a\u0623\u062b\u064a\u0631\u060c \u0648\u0644\u0643\u0646 \u0644\u0627 \u064a\u0648\u062c\u062f \u0631\u0642\u0645 \u0625\u062c\u0645\u0627\u0644\u064a \u0646\u0638\u064a\u0641 \u062a\u0645\u0627\u0645\u064b\u0627. \u064a\u0642\u064a\u0633 TVL \u0627\u0644\u062d\u062c\u0645 \u0648\u062b\u0642\u0629 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u060c \u0644\u0643\u0646\u0647 \u0644\u0627 \u064a\u0642\u064a\u0633 \u0627\u0644\u0645\u0644\u0627\u0621\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629.<\/p>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-6\">\u062a\u0646\u0638\u064a\u0645 DeFi \u0641\u064a \u0639\u0627\u0645\u064a 2025 \u0648 2026<\/h2>\n<\/header>\n<p>\u064a\u0639\u0645\u0644 DeFi \u0641\u064a \u0628\u064a\u0626\u0629 \u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u063a\u064a\u0631 \u0648\u0627\u0636\u062d\u0629 \u0627\u0644\u0645\u0639\u0627\u0644\u0645 \u062d\u0642\u064b\u0627. \u0644\u0627 \u062a\u0632\u0627\u0644 \u0627\u0644\u0647\u064a\u0626\u0627\u062a \u0627\u0644\u0642\u0636\u0627\u0626\u064a\u0629 \u0627\u0644\u0643\u0628\u0631\u0649 \u062a\u0646\u0638\u0645 DeFi \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0642\u0648\u0627\u0639\u062f \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0648\u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a \u0648\u0627\u0644\u0636\u0631\u0627\u0626\u0628 \u0648\u0645\u0643\u0627\u0641\u062d\u0629 \u063a\u0633\u0644 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0642\u0627\u0626\u0645\u0629\u060c \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0646\u0638\u0627\u0645 \u0648\u0627\u062d\u062f \u0645\u0633\u062a\u0642\u0631 \u062e\u0627\u0635 \u0628\u0640 DeFi.<\/p>\n<p>\u062a\u062a\u0633\u0645 \u0627\u0644\u0635\u0648\u0631\u0629 \u0641\u064a \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629 \u0628\u0634\u0643\u0644 \u0623\u0633\u0627\u0633\u064a \u0628\u0625\u062c\u0631\u0627\u0621\u0627\u062a \u0627\u0644\u0625\u0646\u0641\u0627\u0630 \u0648\u062a\u0637\u0628\u064a\u0642 \u0627\u0644\u0645\u0646\u0638\u0645\u064a\u0646 \u0644\u0644\u0642\u0648\u0627\u0646\u064a\u0646 \u0627\u0644\u062d\u0627\u0644\u064a\u0629 \u0639\u0644\u0649 \u0638\u0631\u0648\u0641 \u062c\u062f\u064a\u062f\u0629:<\/p>\n<ul>\n<li>\u062a\u062a\u062f\u0627\u062e\u0644 \u0645\u0637\u0627\u0644\u0628\u0627\u062a \u0627\u0644\u0627\u062e\u062a\u0635\u0627\u0635 \u0627\u0644\u0642\u0636\u0627\u0626\u064a \u0628\u064a\u0646 \u0647\u064a\u0626\u0629 \u0627\u0644\u0623\u0648\u0631\u0627\u0642 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0648\u0627\u0644\u0628\u0648\u0631\u0635\u0627\u062a (SEC) \u0648\u0647\u064a\u0626\u0629 \u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0633\u0644\u0639 \u0627\u0644\u0622\u062c\u0644\u0629 (CFTC) \u0648\u0644\u0627 \u062a\u0632\u0627\u0644 \u063a\u064a\u0631 \u0645\u062d\u0633\u0648\u0645\u0629. \u062a\u0639\u062a\u0628\u0631 SEC \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0631\u0645\u0648\u0632 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0623\u0648\u0631\u0627\u0642\u064b\u0627 \u0645\u0627\u0644\u064a\u0629 \u0628\u0645\u0648\u062c\u0628 \u0627\u0644\u0642\u0648\u0627\u0646\u064a\u0646 \u0627\u0644\u062d\u0627\u0644\u064a\u0629. \u0628\u064a\u0646\u0645\u0627 \u062a\u0639\u062a\u0628\u0631 CFTC \u0628\u0639\u0636 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0623\u0633\u0648\u0627\u0642 \u0633\u0644\u0639. \u0644\u0645 \u062a\u0635\u062f\u0631 \u0623\u064a \u0645\u0646 \u0627\u0644\u0648\u0643\u0627\u0644\u062a\u064a\u0646 \u0625\u0631\u0634\u0627\u062f\u0627\u062a \u0634\u0627\u0645\u0644\u0629 \u062a\u062d\u062f\u062f \u0623\u0646\u0634\u0637\u0629 DeFi \u0627\u0644\u062a\u064a \u062a\u0642\u0639 \u0636\u0645\u0646 \u0633\u0644\u0637\u062a\u0647\u0627.<\/li>\n<li>\u062c\u0627\u0621\u062a \u0633\u0627\u0628\u0642\u0629 \u0643\u0628\u0631\u0649 \u0641\u064a \u0623\u063a\u0633\u0637\u0633 2022\u060c \u0639\u0646\u062f\u0645\u0627 \u0641\u0631\u0636\u062a <a href=\"https:\/\/ofac.treasury.gov\/recent-actions\/20220808\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">OFAC \u0639\u0642\u0648\u0628\u0627\u062a \u0639\u0644\u0649 Tornado Cash<\/a> \u2014 \u0645\u0637\u0628\u0642\u0629 \u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a \u0644\u064a\u0633 \u0641\u0642\u0637 \u0639\u0644\u0649 \u0634\u0631\u0643\u0629 \u0623\u0648 \u0641\u0631\u062f\u060c \u0628\u0644 \u0639\u0644\u0649 \u0639\u0646\u0627\u0648\u064a\u0646 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0646\u0641\u0633\u0647\u0627. \u0641\u064a 21 \u0645\u0627\u0631\u0633 2025\u060c \u0631\u0641\u0639\u062a \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u062e\u0632\u0627\u0646\u0629 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u062a\u0644\u0643 \u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a \u0628\u0639\u062f \u0645\u0631\u0627\u062c\u0639\u0629 \u0627\u0644\u0642\u0636\u0627\u064a\u0627 \u0627\u0644\u0642\u0627\u0646\u0648\u0646\u064a\u0629 \u0648\u0627\u0644\u0633\u064a\u0627\u0633\u064a\u0629.<\/li>\n<li>\u0644\u0627 \u064a\u0632\u0627\u0644 \u0627\u0644\u0645\u0637\u0648\u0631\u0648\u0646 \u0627\u0644\u0645\u0631\u062a\u0628\u0637\u0648\u0646 \u0628\u0640 Tornado Cash \u064a\u0648\u0627\u062c\u0647\u0648\u0646 \u0642\u0636\u0627\u064a\u0627 \u062c\u0646\u0627\u0626\u064a\u0629 \u0641\u064a \u0648\u0644\u0627\u064a\u0627\u062a \u0642\u0636\u0627\u0626\u064a\u0629 \u0645\u062a\u0639\u062f\u062f\u0629. \u0627\u0633\u062a\u0645\u0631 <a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/DeFi-Risk-Full-Review.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">\u062a\u0642\u064a\u064a\u0645 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u063a\u064a\u0631 \u0627\u0644\u0645\u0634\u0631\u0648\u0639 \u0644\u0640 DeFi \u0644\u0639\u0627\u0645 2023<\/a> \u0627\u0644\u0635\u0627\u062f\u0631 \u0639\u0646 \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u062e\u0632\u0627\u0646\u0629 \u0641\u064a \u0627\u0639\u062a\u0628\u0627\u0631 \u062e\u062f\u0645\u0627\u062a DeFi \u0630\u0627\u062a \u0646\u0642\u0627\u0637 \u0627\u0644\u062a\u062d\u0643\u0645 \u0627\u0644\u0645\u062d\u062f\u062f\u0629 \u0642\u0646\u0648\u0627\u062a \u0639\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u062e\u0627\u0637\u0631.<\/li>\n<li>\u0644\u0645 \u064a\u062a\u0645 \u062a\u0645\u0631\u064a\u0631 \u0623\u064a \u062a\u0634\u0631\u064a\u0639 \u0634\u0627\u0645\u0644 \u0644\u0640 DeFi \u0645\u0646 \u0642\u0628\u0644 \u0627\u0644\u0643\u0648\u0646\u063a\u0631\u0633 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a \u062d\u062a\u0649 \u0623\u0628\u0631\u064a\u0644 2026.<\/li>\n<\/ul>\n<p>\u0641\u064a \u0627\u0644\u0627\u062a\u062d\u0627\u062f \u0627\u0644\u0623\u0648\u0631\u0648\u0628\u064a\u060c \u0648\u0636\u0639\u062a \u0644\u0627\u0626\u062d\u0629 \u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0634\u0641\u0631\u0629 (MiCA) \u0645\u062a\u0637\u0644\u0628\u0627\u062a \u0627\u0644\u062a\u0631\u062e\u064a\u0635 \u0648\u0627\u0644\u0633\u0644\u0648\u0643 \u0644\u0645\u0642\u062f\u0645\u064a \u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u062b\u0644 \u0627\u0644\u0628\u0648\u0631\u0635\u0627\u062a \u0648\u0627\u0644\u0623\u0645\u0646\u0627\u0621\u060c \u0628\u0627\u0644\u0625\u0636\u0627\u0641\u0629 \u0625\u0644\u0649 \u0642\u0648\u0627\u0639\u062f \u0644\u0645\u0635\u062f\u0631\u064a \u0627\u0644\u0631\u0645\u0648\u0632. \u0642\u062f \u062a\u0642\u0639 \u0627\u0644\u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u0628\u0627\u0644\u0643\u0627\u0645\u0644 \u0627\u0644\u062a\u064a \u0644\u0627 \u062a\u062d\u062a\u0648\u064a \u0639\u0644\u0649 \u0648\u0633\u064a\u0637 \u0645\u062d\u062f\u062f \u062e\u0627\u0631\u062c \u0646\u0637\u0627\u0642 MiCA \u0627\u0644\u0645\u0628\u0627\u0634\u0631 \u062c\u0632\u0626\u064a\u064b\u0627\u060c \u0644\u0643\u0646 \u0627\u0644\u062d\u062f\u0648\u062f \u0644\u0627 \u062a\u0632\u0627\u0644 \u062a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0627\u0644\u062d\u0642\u0627\u0626\u0642 \u0648\u063a\u064a\u0631 \u0645\u0633\u062a\u0642\u0631\u0629.<\/p>\n<p>\u0644\u0642\u062f \u0623\u062b\u0631\u062a \u062d\u0627\u062f\u062b\u0629 Tornado Cash \u0628\u0634\u0643\u0644 \u0645\u0644\u0645\u0648\u0633 \u0639\u0644\u0649 \u062a\u0637\u0648\u064a\u0631 DeFi \u0645\u0641\u062a\u0648\u062d \u0627\u0644\u0645\u0635\u062f\u0631 \u062d\u062a\u0649 \u0628\u0639\u062f \u0631\u0641\u0639 \u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a. \u0644\u0627 \u064a\u0632\u0627\u0644 \u0627\u0644\u0645\u0637\u0648\u0631\u0648\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u0639\u0645\u0644\u0648\u0646 \u0639\u0644\u0649 \u0623\u062f\u0648\u0627\u062a \u0627\u0644\u062e\u0635\u0648\u0635\u064a\u0629 \u0623\u0648 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0641\u064a \u0627\u0644\u0641\u0626\u0627\u062a \u0627\u0644\u062d\u0633\u0627\u0633\u0629 \u0642\u0627\u0646\u0648\u0646\u064a\u064b\u0627 \u064a\u0648\u0627\u062c\u0647\u0648\u0646 \u062d\u0627\u0644\u0629 \u0645\u0646 \u0639\u062f\u0645 \u0627\u0644\u064a\u0642\u064a\u0646 \u0627\u0644\u0642\u0627\u0646\u0648\u0646\u064a \u0644\u0645 \u062a\u0643\u0646 \u0645\u0648\u062c\u0648\u062f\u0629 \u0642\u0628\u0644 \u0639\u0627\u0645 2022. \u0644\u0627 \u064a\u0634\u0643\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u062d\u0638\u0631\u064b\u0627 \u0628\u062d\u062f \u0630\u0627\u062a\u0647\u060c \u0644\u0643\u0646\u0647\u0627 \u062a\u0638\u0644 \u0637\u0628\u0642\u0629 \u062d\u0642\u064a\u0642\u064a\u0629 \u0645\u0646 \u0627\u0644\u062a\u0639\u0631\u0636 \u0627\u0644\u0642\u0627\u0646\u0648\u0646\u064a \u0644\u0644\u0645\u0637\u0648\u0631\u064a\u0646 \u0648\u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0639\u0644\u0649 \u062d\u062f \u0633\u0648\u0627\u0621.<\/p>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-7\">\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi)<\/h2>\n<\/header>\n<p>\u064a\u062d\u0645\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi) \u0645\u062e\u0627\u0637\u0631 \u0644\u0627 \u062a\u0648\u062c\u062f \u0641\u064a \u0627\u0644\u0623\u0646\u0638\u0645\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0627\u0644\u0645\u0646\u0638\u0645\u0629. \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0645\u062d\u062f\u062f\u0629 \u0623\u062f\u0646\u0627\u0647 \u062a\u062e\u062a\u0644\u0641 \u0639\u0646 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u060c \u0648\u0645\u0646 \u0627\u0644\u0645\u0647\u0645 \u0641\u0647\u0645 \u0643\u0644 \u0645\u0646\u0647\u0627 \u0639\u0644\u0649 \u062d\u062f\u0629 \u0642\u0628\u0644 \u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644.<\/p>\n<p>\u062a\u064f\u0639\u062f <strong>\u0627\u0633\u062a\u063a\u0644\u0627\u0644\u0627\u062a \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629<\/strong> \u0623\u0643\u0628\u0631 \u0641\u0626\u0629 \u0645\u0646 \u062e\u0633\u0627\u0626\u0631 DeFi \u0645\u0646 \u062d\u064a\u062b \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u062f\u0648\u0644\u0627\u0631\u064a\u0629. \u0639\u0646\u062f\u0645\u0627 \u064a\u062d\u062a\u0648\u064a \u0627\u0644\u0639\u0642\u062f \u0639\u0644\u0649 \u062e\u0637\u0623 \u0628\u0631\u0645\u062c\u064a \u0623\u0648 \u0639\u064a\u0628 \u0645\u0646\u0637\u0642\u064a\u060c \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0647\u0627\u062c\u0645 \u0633\u062d\u0628 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0642\u0628\u0644 \u0623\u0646 \u064a\u062a\u0645\u0643\u0646 \u0627\u0644\u0645\u0637\u0648\u0631\u0648\u0646 \u0645\u0646 \u0627\u0644\u0627\u0633\u062a\u062c\u0627\u0628\u0629\u060c \u0648\u0645\u0639\u0638\u0645 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644 \u0644\u0627 \u062a\u0648\u0641\u0631 \u0622\u0644\u064a\u0629 \u0644\u0639\u0643\u0633 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0624\u0643\u062f\u0629. \u0623\u0638\u0647\u0631 \u0627\u062e\u062a\u0631\u0627\u0642 \u0634\u0628\u0643\u0629 Ronin Network \u0641\u064a \u0645\u0627\u0631\u0633 2022 \u0648\u0627\u0633\u062a\u063a\u0644\u0627\u0644 Euler Finance \u0641\u064a \u0645\u0627\u0631\u0633 2023 \u0645\u062f\u0649 \u0633\u0631\u0639\u0629 \u062a\u0641\u0627\u0642\u0645 \u062e\u0633\u0627\u0626\u0631 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0639\u0646\u062f\u0645\u0627 \u062a\u0641\u0634\u0644 \u0627\u0644\u0627\u0641\u062a\u0631\u0627\u0636\u0627\u062a \u0627\u0644\u0623\u0645\u0646\u064a\u0629 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629.<\/p>\n<p>\u062a\u064f\u0639\u062f <strong><a href=\"https:\/\/www.dztecs.com\/blockchain\/rug-pull\/\">\u0639\u0645\u0644\u064a\u0627\u062a \u0633\u062d\u0628 \u0627\u0644\u0628\u0633\u0627\u0637<\/a><\/strong> (Rug pulls) \u0645\u062e\u0627\u0637\u0631\u0629 \u0645\u0646\u0641\u0635\u0644\u0629\u061b \u062d\u064a\u062b \u064a\u0646\u0633\u062d\u0628 \u0627\u0644\u0645\u0637\u0648\u0631\u0648\u0646 \u0639\u0645\u062f\u0627\u064b \u0628\u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0623\u0646 \u064a\u062a\u0639\u0631\u0636\u0648\u0627 \u0644\u0647\u062c\u0648\u0645 \u0645\u0646 \u0637\u0631\u0641 \u062e\u0627\u0631\u062c\u064a. \u0647\u0630\u0627 \u0627\u0644\u0646\u0645\u0637 \u0634\u0627\u0626\u0639 \u062c\u062f\u0627\u064b \u0641\u064a \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u062d\u062f\u064a\u062b\u0629 \u0627\u0644\u0625\u0637\u0644\u0627\u0642 \u0627\u0644\u062a\u064a \u062a\u0636\u0645 \u0641\u0631\u0642\u0627\u064b \u0645\u062c\u0647\u0648\u0644\u0629 \u0648\u0639\u0642\u0648\u062f\u0627\u064b \u063a\u064a\u0631 \u0645\u062f\u0642\u0642\u0629. \u062a\u064f\u0639\u062f \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0627\u0644\u0645\u0639\u0644\u0646\u0629 \u0627\u0644\u0645\u0631\u062a\u0641\u0639\u0629\u060c \u0648\u0627\u0644\u0646\u0645\u0648 \u0627\u0644\u0633\u0631\u064a\u0639 \u0641\u064a \u0625\u062c\u0645\u0627\u0644\u064a \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u0642\u0641\u0644\u0629 (TVL)\u060c \u0648\u0641\u0631\u0642 \u0627\u0644\u062a\u0637\u0648\u064a\u0631 \u0627\u0644\u0645\u062c\u0647\u0648\u0644\u0629\u060c \u0639\u0644\u0627\u0645\u0627\u062a \u062a\u062d\u0630\u064a\u0631 \u0634\u0627\u0626\u0639\u0629\u060c \u0648\u0625\u0646 \u0644\u0645 \u062a\u0643\u0646 \u0645\u0624\u0634\u0631\u0627\u062a \u0645\u0648\u062b\u0648\u0642\u0629 \u0644\u0633\u0644\u0648\u0643 \u0623\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0628\u0645\u0641\u0631\u062f\u0647.<\/p>\n<p>\u064a\u0624\u062b\u0631 <strong>\u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629<\/strong> (Impermanent loss) \u0639\u0644\u0649 \u0645\u0632\u0648\u062f\u064a \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0641\u064a \u0628\u0648\u0631\u0635\u0627\u062a DEXs \u0627\u0644\u0642\u0627\u0626\u0645\u0629 \u0639\u0644\u0649 <strong>\u0635\u0627\u0646\u0639 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a (AMM)<\/strong>. \u0639\u0646\u062f\u0645\u0627 \u062a\u062a\u063a\u064a\u0631 \u0646\u0633\u0628\u0629 \u0627\u0644\u0633\u0639\u0631 \u0628\u064a\u0646 \u0623\u0635\u0644\u064a\u0646 \u0641\u064a \u0645\u062c\u0645\u0639 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0628\u0634\u0643\u0644 \u0643\u0628\u064a\u0631\u060c \u064a\u0646\u062a\u0647\u064a \u0627\u0644\u0623\u0645\u0631 \u0628\u0645\u0632\u0648\u062f \u0627\u0644\u0633\u064a\u0648\u0644\u0629 (LP) \u0628\u0627\u0644\u0627\u062d\u062a\u0641\u0627\u0638 \u0628\u0645\u0632\u064a\u062c \u0645\u062e\u062a\u0644\u0641 \u0645\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u0639\u0645\u0627 \u0623\u0648\u062f\u0639\u0647 \u0641\u064a \u0627\u0644\u0623\u0635\u0644\u060c \u0648\u0647\u0648 \u0645\u0632\u064a\u062c \u0623\u0642\u0644 \u0642\u064a\u0645\u0629 \u0645\u0646 \u0645\u062c\u0631\u062f \u0627\u0644\u0627\u062d\u062a\u0641\u0627\u0638 \u0628\u0627\u0644\u0623\u0635\u0644\u064a\u0646 \u062f\u0648\u0646 \u062a\u0648\u0641\u064a\u0631 \u0633\u064a\u0648\u0644\u0629. \u064a\u0639\u0643\u0633 \u0648\u0635\u0641 &#8220;\u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629&#8221; \u0623\u0646 \u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u062a\u0646\u0639\u0643\u0633 \u0625\u0630\u0627 \u0639\u0627\u062f\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0625\u0644\u0649 \u0646\u0633\u0628\u062a\u0647\u0627 \u0627\u0644\u0623\u0635\u0644\u064a\u0629. \u0648\u0644\u0643\u0646 \u0641\u064a \u0627\u0644\u0648\u0627\u0642\u0639\u060c \u0644\u0627 \u062a\u0646\u0639\u0643\u0633 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u062a\u062d\u0648\u0644\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631.<\/p>\n<p>\u062a\u0633\u062a\u063a\u0644 \u0647\u062c\u0645\u0627\u062a <strong>\u0627\u0644\u062a\u0644\u0627\u0639\u0628 \u0628\u0627\u0644\u0623\u0648\u0631\u0627\u0643\u0644<\/strong> (Oracle manipulation) \u062e\u0644\u0627\u0635\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u062e\u0627\u0631\u062c\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u0639\u062a\u0645\u062f \u0639\u0644\u064a\u0647\u0627 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a DeFi \u0644\u062a\u0642\u064a\u064a\u0645 \u0627\u0644\u0623\u0635\u0648\u0644 \u0628\u0634\u0643\u0644 \u0635\u062d\u064a\u062d. \u062a\u0642\u0648\u0645 \u0623\u0648\u0631\u0627\u0643\u0644 \u0623\u0633\u0639\u0627\u0631 DeFi \u0628\u0627\u0644\u0625\u0628\u0644\u0627\u063a \u0639\u0646 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u062d\u0642\u064a\u0642\u064a\u0629 \u0644\u0644\u0639\u0642\u0648\u062f \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629. \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0647\u0627\u062c\u0645 \u0627\u0644\u0630\u064a \u064a\u0633\u062a\u0637\u064a\u0639 \u062a\u062d\u0648\u064a\u0644 \u0627\u0644\u0633\u0639\u0631 \u0644\u0641\u062a\u0631\u0629 \u0648\u062c\u064a\u0632\u0629 \u0641\u064a \u0633\u0648\u0642 \u0636\u0639\u064a\u0641 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u2013 \u0639\u0627\u062f\u0629\u064b \u0645\u0646 \u062e\u0644\u0627\u0644 <strong>\u0642\u0631\u0636 \u0633\u0631\u064a\u0639<\/strong> \u2013 \u0623\u0646 \u064a\u0636\u0644\u0644 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0641\u064a \u062a\u0633\u0639\u064a\u0631 \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0628\u0634\u0643\u0644 \u062e\u0627\u0637\u0626 \u0623\u0648 \u062a\u0641\u0639\u064a\u0644 \u0639\u0645\u0644\u064a\u0627\u062a \u062a\u0635\u0641\u064a\u0629 \u063a\u064a\u0631 \u0635\u062d\u064a\u062d\u0629. \u062a\u0645 \u062a\u0635\u0645\u064a\u0645 <strong><a href=\"https:\/\/www.dztecs.com\/blockchain\/what-is-chainlink\/\">\u0634\u0628\u0643\u0629 \u0623\u0648\u0631\u0627\u0643\u0644 Chainlink<\/a><\/strong> \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u0644\u0632\u064a\u0627\u062f\u0629 \u062a\u0643\u0644\u0641\u0629 \u0647\u0630\u0627 \u0627\u0644\u0647\u062c\u0648\u0645\u060c \u0644\u0643\u0646 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0623\u0648\u0631\u0627\u0643\u0644 \u0644\u0645 \u064a\u062a\u0645 \u0627\u0644\u0642\u0636\u0627\u0621 \u0639\u0644\u064a\u0647\u0627 \u0628\u0627\u0644\u0643\u0627\u0645\u0644.<\/p>\n<p>\u064a\u064f\u0639\u062f <strong>\u0627\u0644\u0639\u0627\u0626\u062f \u063a\u064a\u0631 \u0627\u0644\u0645\u0633\u062a\u062f\u0627\u0645<\/strong> \u0646\u0645\u0637\u0627\u064b \u0645\u062a\u0643\u0631\u0631\u0627\u064b \u0641\u064a \u0647\u0630\u0627 \u0627\u0644\u0645\u062c\u0627\u0644. \u062a\u064f\u0639\u0644\u0646 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0639\u0646 <strong>\u0623\u0631\u0642\u0627\u0645 APY<\/strong> \u0645\u0631\u062a\u0641\u0639\u0629 \u062a\u062a\u0636\u0645\u0646 \u0645\u0643\u0627\u0641\u0622\u062a \u062a\u064f\u062f\u0641\u0639 \u0641\u064a \u062a\u0648\u0643\u0646\u0627\u062a \u062d\u0648\u0643\u0645\u0629 \u0635\u0627\u062f\u0631\u0629 \u062d\u062f\u064a\u062b\u0627\u064b \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u0646\u0647\u0627\u0631 \u0642\u064a\u0645\u062a\u0647\u0627 \u0628\u0633\u0631\u0639\u0629. \u063a\u0627\u0644\u0628\u0627\u064b \u0645\u0627 \u064a\u0646\u062e\u0641\u0636 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0641\u0639\u0644\u064a \u0642\u0628\u0644 \u0648\u0642\u062a \u0637\u0648\u064a\u0644 \u0645\u0645\u0627 \u0642\u062f \u062a\u0648\u062d\u064a \u0628\u0647 \u0627\u0644\u0623\u0631\u0642\u0627\u0645 \u0627\u0644\u0645\u0639\u0644\u0646\u0629. \u064a\u062c\u0628 \u0627\u0644\u062a\u0639\u0627\u0645\u0644 \u0645\u0639 \u0623\u0631\u0642\u0627\u0645 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u062a\u064a \u062a\u0639\u0631\u0636\u0647\u0627 \u0627\u0644\u0645\u062c\u0645\u0639\u0627\u062a \u0639\u0644\u0649 \u0623\u0646\u0647\u0627 \u062a\u0642\u062f\u064a\u0631\u0627\u062a \u062a\u0633\u062a\u0646\u062f \u0625\u0644\u0649 \u0627\u0644\u0638\u0631\u0648\u0641 \u0627\u0644\u062d\u0627\u0644\u064a\u0629.<\/p>\n<p>\u0644\u0627 \u062a\u0648\u062c\u062f <strong>\u0622\u0644\u064a\u0629 \u0627\u0633\u062a\u0631\u062f\u0627\u062f<\/strong> \u0641\u064a DeFi. \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0645\u0631\u0633\u0644\u0629 \u0625\u0644\u0649 \u0639\u0646\u0648\u0627\u0646 \u062e\u0627\u0637\u0626\u060c \u0623\u0648 \u0627\u0644\u0645\u0641\u0642\u0648\u062f\u0629 \u0628\u0633\u0628\u0628 \u0627\u0633\u062a\u063a\u0644\u0627\u0644\u060c \u0623\u0648 \u0627\u0644\u0645\u062d\u062a\u062c\u0632\u0629 \u0641\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0641\u0627\u0634\u0644\u060c \u062a\u064f\u0639\u062a\u0628\u0631 \u0636\u0627\u0626\u0639\u0629 \u0645\u0627 \u0644\u0645 \u064a\u064f\u0639\u062f\u0647\u0627 \u0627\u0644\u0637\u0631\u0641 \u0627\u0644\u0645\u0642\u0627\u0628\u0644 \u0637\u0648\u0627\u0639\u064a\u0629. \u0644\u0627 \u064a\u0648\u062c\u062f \u0627\u0633\u062a\u0631\u062f\u0627\u062f \u0644\u0644\u0645\u062f\u0641\u0648\u0639\u0627\u062a (chargeback)\u060c \u0648\u0644\u0627 \u062a\u0623\u0645\u064a\u0646 \u0639\u0644\u0649 \u0627\u0644\u0648\u062f\u0627\u0626\u0639\u060c \u0648\u0644\u0627 \u0643\u064a\u0627\u0646 \u0644\u062f\u064a\u0647 \u0627\u0644\u062a\u0632\u0627\u0645 \u0642\u0627\u0646\u0648\u0646\u064a \u0628\u062a\u0639\u0648\u064a\u0636 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0639\u0646 \u0627\u0644\u062e\u0633\u0627\u0626\u0631.<\/p>\n<\/section>\n<header>\n<h2 id=\"section-8\">\u0643\u064a\u0641 \u062a\u0628\u062f\u0623 \u0645\u0639 DeFi<\/h2>\n<\/header>\n<p>\u062a\u062a\u0637\u0644\u0628 \u0627\u0644\u062a\u0641\u0627\u0639\u0644 \u0645\u0639 \u0623\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 DeFi \u062b\u0644\u0627\u062b\u0629 \u0639\u0646\u0627\u0635\u0631 \u0639\u0645\u0644\u064a\u0629 \u0623\u0633\u0627\u0633\u064a\u0629: \u0645\u062d\u0641\u0638\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062d\u0641\u0638\u060c \u0648\u0623\u0635\u0648\u0644 \u062a\u062a\u0636\u0645\u0646 \u0631\u0645\u0632 \u0631\u0633\u0648\u0645 \u0627\u0644\u0634\u0628\u0643\u0629\u060c \u0648\u0641\u0647\u0645 \u0643\u0627\u0641\u064d \u0644\u0645\u0627 \u062a\u0642\u0648\u0645 \u0628\u0647 \u0644\u062a\u0645\u064a\u064a\u0632 \u0645\u0648\u0627\u0642\u0639 \u0627\u0644\u062a\u0635\u064a\u062f \u0627\u0644\u0627\u062d\u062a\u064a\u0627\u0644\u064a \u0623\u0648 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0645\u0634\u0628\u0648\u0647\u0629.<\/p>\n<p><strong>\u0627\u0644\u0645\u062d\u0627\u0641\u0638:<\/strong> \u062a\u062d\u062a\u0641\u0638 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062d\u0641\u0638 \u0628\u0645\u0641\u0627\u062a\u064a\u062d\u0643 \u0627\u0644\u062e\u0627\u0635\u0629 \u0648\u062a\u0648\u0642\u0639 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0646\u064a\u0627\u0628\u0629 \u0639\u0646\u0643 \u2014 \u0623\u064a \u0623\u0646\u0647\u0627 \u0644\u0627 \u062a\u062e\u0632\u0646 \u0623\u0645\u0648\u0627\u0644\u0643 \u0644\u062f\u0649 \u0634\u0631\u0643\u0629\u060c \u0628\u0644 \u062a\u062a\u062d\u0643\u0645 \u0641\u064a\u0647\u0627 \u0623\u0646\u062a \u0645\u0628\u0627\u0634\u0631\u0629\u064b. \u0644\u0627 \u062a\u0632\u0627\u0644 MetaMask \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0623\u0643\u062b\u0631 \u0627\u0633\u062a\u062e\u062f\u0627\u0645\u064b\u0627 \u0643\u0625\u0636\u0627\u0641\u0629 \u0644\u0644\u0645\u062a\u0635\u0641\u062d. \u0648\u062a\u064f\u0639\u062f Rabby \u0648 Frame \u0628\u062f\u0627\u0626\u0644 \u0634\u0627\u0626\u0639\u0629 \u0628\u064a\u0646 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0627\u0644\u0623\u0643\u062b\u0631 \u062e\u0628\u0631\u0629. \u0627\u0633\u062a\u0643\u0634\u0641 \u0645\u062d\u0627\u0641\u0638 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0644\u0640 DeFi \u0644\u0645\u0642\u0627\u0631\u0646\u0629 \u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a \u0648\u0641\u0647\u0645 \u0645\u0639\u0646\u0649 \u0627\u0644\u062d\u0641\u0638 \u0627\u0644\u0630\u0627\u062a\u064a \u0639\u0645\u0644\u064a\u064b\u0627.<\/p>\n<p><strong>\u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 \u0648\u0627\u0644\u0634\u0628\u0643\u0627\u062a:<\/strong> \u062a\u064f\u0639\u062f ETH \u0636\u0631\u0648\u0631\u064a\u0629 \u0644\u062f\u0641\u0639 \u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 \u0639\u0644\u0649 \u0634\u0628\u0643\u0629 Ethereum \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629. \u062e\u0644\u0627\u0644 \u0641\u062a\u0631\u0627\u062a \u0627\u0644\u0627\u0632\u062f\u062d\u0627\u0645\u060c \u0642\u062f \u062a\u062a\u062c\u0627\u0648\u0632 \u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 \u0639\u0644\u0649 \u0627\u0644\u0634\u0628\u0643\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0627\u0644\u0635\u063a\u064a\u0631\u0629\u060c \u0645\u0645\u0627 \u064a\u062c\u0639\u0644 \u0634\u0628\u0643\u0629 Ethereum \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u063a\u064a\u0631 \u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0644\u0644\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u064a\u0648\u0645\u064a \u0641\u064a DeFi. \u062a\u0639\u0645\u0644<\/p>\n<section>\n<header>\n<h2 id=\"section-9\">\u0643\u064a\u0641 \u062a\u0628\u062f\u0623 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 DeFi \u0644\u0623\u0648\u0644 \u0645\u0631\u0629 \u062f\u0648\u0646 \u062a\u0639\u0642\u064a\u062f \u0627\u0644\u0623\u0645\u0648\u0631\u061f<\/h2>\n<\/header>\n<p>\u064a\u062c\u0628 \u0627\u0644\u062a\u0639\u0627\u0645\u0644 \u0645\u0639 \u0623\u0648\u0644 \u0645\u0639\u0627\u0645\u0644\u0629 \u0641\u064a \u0639\u0627\u0644\u0645 DeFi \u0639\u0644\u0649 \u0623\u0646\u0647\u0627 \u0627\u062e\u062a\u0628\u0627\u0631. \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u0623\u0633\u0627\u0633\u064a \u0647\u0648 \u0641\u0647\u0645 \u0643\u064a\u0641\u064a\u0629 \u0639\u0645\u0644 \u0627\u0644\u0645\u062d\u0627\u0641\u0638 (wallets)\u060c \u0648\u0627\u0644\u0634\u0628\u0643\u0627\u062a (networks)\u060c \u0648\u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a (approvals)\u060c \u0648\u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 (gas fees)\u060c \u0648\u0627\u0644\u062a\u0623\u0643\u064a\u062f\u0627\u062a (confirmations) \u0642\u0628\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631\u0629 \u0628\u0631\u0623\u0633 \u0645\u0627\u0644 \u0643\u0628\u064a\u0631.<\/p>\n<p>\u0627\u0628\u062f\u0623 \u0628\u0645\u0628\u0644\u063a \u0635\u063a\u064a\u0631 \u064a\u0645\u0643\u0646\u0643 \u062a\u062d\u0645\u0644 \u062e\u0633\u0627\u0631\u062a\u0647. \u0627\u0633\u062a\u062e\u062f\u0645 \u0645\u062d\u0641\u0638\u0629 \u0645\u062f\u0639\u0648\u0645\u0629 \u0639\u0644\u0649 \u0646\u0637\u0627\u0642 \u0648\u0627\u0633\u0639\u060c \u0648\u0627\u062e\u062a\u0631 \u0634\u0628\u0643\u0629 \u0648\u0627\u062d\u062f\u0629\u060c \u0648\u062a\u062c\u0646\u0628 \u0627\u0644\u062a\u0646\u0642\u0644 \u0628\u064a\u0646 \u0627\u0644\u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u062d\u062a\u0649 \u062a\u0641\u0647\u0645 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062c\u0633\u0648\u0631 (bridge risk) \u0648\u062a\u0648\u0642\u064a\u062a\u0627\u062a \u0627\u0644\u0633\u062d\u0628. \u064a\u0648\u0636\u062d \u0627\u0644\u062c\u062f\u0648\u0644 \u0623\u062f\u0646\u0627\u0647 \u0627\u0644\u0623\u0647\u062f\u0627\u0641 \u0627\u0644\u0634\u0627\u0626\u0639\u0629 \u0648\u0627\u0644\u062e\u0637\u0648\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u0623\u0648\u0644\u0649 \u0644\u062a\u062d\u0642\u064a\u0642\u0647\u0627.<\/p>\n<table>\n<thead>\n<tr>\n<th>\u0627\u0644\u0647\u062f\u0641<\/th>\n<th>\u0627\u0644\u062e\u0637\u0648\u0629 \u0627\u0644\u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u0623\u0648\u0644\u0649<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u062a\u0639\u0644\u0645 \u0643\u064a\u0641\u064a\u0629 \u0639\u0645\u0644 \u0627\u0644\u0645\u0642\u0627\u064a\u0636\u0627\u062a (Swaps)<\/td>\n<td>\u062c\u0631\u0628 \u0645\u0642\u0627\u064a\u0636\u0629 \u0635\u063a\u064a\u0631\u0629 \u0648\u0627\u062d\u062f\u0629 \u0639\u0644\u0649 \u0634\u0628\u0643\u0629 \u0645\u0646\u062e\u0641\u0636\u0629 \u0627\u0644\u062a\u0643\u0644\u0641\u0629 \u0645\u062b\u0644 Base \u0623\u0648 Arbitrum \u0623\u0648 Optimism. \u062a\u062d\u0642\u0642 \u0645\u0646 \u0627\u0644\u0631\u0645\u0632 (token)\u060c \u0648\u0627\u0644\u0634\u0628\u0643\u0629 (network)\u060c \u0648\u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 (gas fee)\u060c \u0648\u0627\u0644\u0627\u0646\u0632\u0644\u0627\u0642 \u0627\u0644\u0633\u0639\u0631\u064a (slippage) \u0642\u0628\u0644 \u0627\u0644\u062a\u0648\u0642\u064a\u0639.<\/td>\n<\/tr>\n<tr>\n<td>\u0643\u0633\u0628 \u0639\u0627\u0626\u062f \u0628\u0633\u064a\u0637<\/td>\n<td>\u0642\u0627\u0631\u0646 \u0623\u0633\u0648\u0627\u0642 \u0625\u0642\u0631\u0627\u0636 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 (stablecoin) \u0639\u0644\u0649 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0645\u0639\u0631\u0648\u0641\u0629 \u0642\u0628\u0644 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0645\u0632\u0627\u0631\u0639 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 (LP farms) \u0623\u0648 \u0627\u0644\u062e\u0632\u0627\u0626\u0646 \u0627\u0644\u062c\u062f\u064a\u062f\u0629. \u0644\u0627 \u062a\u0639\u062a\u0628\u0631 APY \u0645\u0636\u0645\u0648\u0646\u0629.<\/td>\n<\/tr>\n<tr>\n<td>\u0641\u0647\u0645 \u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0633\u064a\u0648\u0644\u0629 (liquidity pools)<\/td>\n<td>\u0627\u0628\u062f\u0623 \u0628\u0632\u0648\u062c \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0627\u0644\u0635\u063a\u064a\u0631\u0629 \u0642\u0628\u0644 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u0623\u0632\u0648\u0627\u062c \u0627\u0644\u0645\u062a\u0642\u0644\u0628\u0629. \u062a\u062a\u0628\u0639 \u0627\u0644\u0631\u0633\u0648\u0645 \u0627\u0644\u0645\u0643\u062a\u0633\u0628\u0629 \u0645\u0642\u0627\u0628\u0644 \u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629 (impermanent loss).<\/td>\n<\/tr>\n<tr>\n<td>\u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636 \u0628\u0636\u0645\u0627\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629<\/td>\n<td>\u062a\u062e\u0637\u0649 \u0647\u0630\u0647 \u0627\u0644\u062e\u0637\u0648\u0629 \u062d\u062a\u0649 \u062a\u0641\u0647\u0645 \u0646\u0633\u0628 \u0627\u0644\u0636\u0645\u0627\u0646 (collateral ratios)\u060c \u0648\u0639\u062a\u0628\u0627\u062a \u0627\u0644\u062a\u0635\u0641\u064a\u0629 (liquidation thresholds)\u060c \u0648\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0623\u0648\u0631\u0627\u0643\u0644 (oracle prices)\u060c \u0648\u062a\u0648\u0642\u064a\u062a\u0627\u062a \u0627\u0644\u0633\u062f\u0627\u062f.<\/td>\n<\/tr>\n<tr>\n<td>\u0627\u0644\u0633\u0639\u064a \u0648\u0631\u0627\u0621 APY \u0645\u0631\u062a\u0641\u0639<\/td>\n<td>\u062a\u062c\u0646\u0628 \u0647\u0630\u0627 \u0627\u0644\u0646\u0634\u0627\u0637 \u0643\u0623\u0648\u0644 \u062a\u062c\u0631\u0628\u0629 \u0644\u0643 \u0641\u064a DeFi. \u0639\u0627\u062f\u0629 \u0645\u0627 \u064a\u0639\u0646\u064a APY \u0627\u0644\u0645\u0631\u062a\u0641\u0639 \u062c\u062f\u0627\u064b \u0627\u0646\u0628\u0639\u0627\u062b\u0627\u062a \u0627\u0644\u0631\u0645\u0648\u0632 (token emissions)\u060c \u0623\u0648 \u0633\u064a\u0648\u0644\u0629 \u0636\u0639\u064a\u0641\u0629 (thin liquidity)\u060c \u0623\u0648 \u0631\u0627\u0641\u0639\u0629 \u0645\u0627\u0644\u064a\u0629 (leverage)\u060c \u0623\u0648 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 (smart contract risk)\u060c \u0623\u0648 \u0643\u0644 \u0647\u0630\u0647 \u0627\u0644\u0639\u0648\u0627\u0645\u0644 \u0645\u062c\u062a\u0645\u0639\u0629.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u0627\u0644\u062f\u0631\u0633 \u0627\u0644\u0623\u0648\u0644 \u0627\u0644\u0645\u0641\u064a\u062f \u0641\u064a DeFi \u0647\u0648 \u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646 \u0628\u0625\u0645\u0643\u0627\u0646\u0643 \u0627\u0644\u062f\u062e\u0648\u0644 \u0625\u0644\u0649 \u0645\u0631\u0643\u0632\u060c \u0648\u0645\u0631\u0627\u0642\u0628\u062a\u0647\u060c \u0648\u0627\u0644\u062e\u0631\u0648\u062c \u0645\u0646\u0647 \u062f\u0648\u0646 \u0627\u0631\u062a\u0628\u0627\u0643. \u0625\u0630\u0627 \u0644\u0645 \u062a\u062a\u0645\u0643\u0646 \u0645\u0646 \u0634\u0631\u062d \u0645\u0627 \u064a\u062d\u062f\u062b \u0639\u0646\u062f\u0645\u0627 \u062a\u062a\u062d\u0631\u0643 \u0627\u0644\u0623\u0633\u0639\u0627\u0631\u060c \u0623\u0648 \u062a\u0631\u062a\u0641\u0639 \u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632\u060c \u0623\u0648 \u064a\u0648\u0642\u0641 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0644\u0633\u062d\u0628\u060c \u0641\u0625\u0646 \u0627\u0644\u0645\u0631\u0643\u0632 \u0645\u0639\u0642\u062f \u0644\u0644\u063a\u0627\u064a\u0629.<\/p>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-10\">\u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0627\u0644\u0623\u0630\u0648\u0646\u0627\u062a\u060c \u0648\u0625\u0644\u063a\u0627\u0621 \u0627\u0644\u0648\u0635\u0648\u0644 \u0641\u064a DeFi<\/h2>\n<\/header>\n<p>\u0644\u0627 \u062a\u0646\u062c\u0645 \u0645\u0639\u0638\u0645 \u062e\u0633\u0627\u0626\u0631 DeFi \u0639\u0646 \u0627\u0633\u062a\u063a\u0644\u0627\u0644 \u0644\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0646\u0641\u0633\u0647\u0627\u060c \u0628\u0644 \u062a\u0628\u062f\u0623 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646\u0647\u0627 \u0628\u062a\u0648\u0642\u064a\u0639 \u062e\u0627\u0637\u0626\u060c \u0623\u0648 \u0645\u0648\u0642\u0639 \u0648\u064a\u0628 \u0645\u0632\u064a\u0641\u060c \u0623\u0648 \u0645\u0648\u0627\u0641\u0642\u0629 \u063a\u064a\u0631 \u0645\u062d\u062f\u0648\u062f\u0629 \u0639\u0644\u0649 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632\u060c \u0623\u0648 \u0645\u062d\u0641\u0638\u0629 \u062a\u062d\u062a\u0641\u0638 \u0628\u0623\u0630\u0648\u0646\u0627\u062a \u062e\u0637\u064a\u0631\u0629 \u0645\u0641\u062a\u0648\u062d\u0629 \u0644\u0641\u062a\u0631\u0629 \u0637\u0648\u064a\u0644\u0629 \u0628\u0639\u062f \u0627\u0646\u062a\u0647\u0627\u0621 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0645\u0646 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a.<\/p>\n<p>\u064a\u0633\u0645\u062d \u0631\u0628\u0637 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0644\u0644\u0645\u0648\u0642\u0639 \u0627\u0644\u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a \u0641\u0642\u0637 \u0628\u0639\u0631\u0636 \u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0639\u0627\u0645\u0629 \u0648\u0637\u0644\u0628 \u0627\u0644\u062a\u0648\u0642\u064a\u0639\u0627\u062a. \u0623\u0645\u0627 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0629 \u0639\u0644\u0649 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 \u0641\u0647\u064a \u0623\u0645\u0631 \u0645\u062e\u062a\u0644\u0641\u061b \u0625\u0630 \u062a\u0645\u0646\u062d \u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0630\u0643\u064a \u0625\u0630\u0646\u064b\u0627 \u0628\u0646\u0642\u0644 \u0631\u0645\u0632 \u0645\u0645\u064a\u0632 \u0645\u062d\u062f\u062f \u0645\u0646 \u0645\u062d\u0641\u0638\u062a\u0643\u060c \u0648\u0630\u0644\u0643 \u0636\u0645\u0646 \u0627\u0644\u062d\u062f \u0627\u0644\u0645\u0639\u062a\u0645\u062f. \u064a\u0648\u0636\u062d \u0627\u0644\u062c\u062f\u0648\u0644 \u0623\u062f\u0646\u0627\u0647 \u0627\u0644\u0645\u0639\u0646\u0649 \u0627\u0644\u0641\u0639\u0644\u064a \u0644\u0643\u0644 \u0625\u062c\u0631\u0627\u0621.<\/p>\n<table>\n<thead>\n<tr>\n<th>\u0627\u0644\u0625\u062c\u0631\u0627\u0621<\/th>\n<th>\u0645\u0627\u0630\u0627 \u064a\u0639\u0646\u064a<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0631\u0628\u0637 \u0627\u0644\u0645\u062d\u0641\u0638\u0629<\/td>\n<td>\u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0648\u0642\u0639 \u0631\u0624\u064a\u0629 \u0639\u0646\u0648\u0627\u0646 \u0645\u062d\u0641\u0638\u062a\u0643 \u0627\u0644\u0639\u0627\u0645 \u0648\u0637\u0644\u0628 \u0627\u0644\u0625\u062c\u0631\u0627\u0621\u0627\u062a\u060c \u0644\u0643\u0646\u0647 \u0644\u0627 \u064a\u0633\u062a\u0637\u064a\u0639 \u0646\u0642\u0644 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0628\u0645\u0641\u0631\u062f\u0647.<\/td>\n<\/tr>\n<tr>\n<td>\u062a\u0648\u0642\u064a\u0639 \u0631\u0633\u0627\u0644\u0629<\/td>\n<td>\u062a\u0648\u0627\u0641\u0642 \u0639\u0644\u0649 \u0631\u0633\u0627\u0644\u0629 \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0645\u062d\u0641\u0638\u062a\u0643. \u0628\u0639\u0636 \u0627\u0644\u0631\u0633\u0627\u0626\u0644 \u063a\u064a\u0631 \u0636\u0627\u0631\u0629\u060c \u0644\u0643\u0646 \u0627\u0644\u062a\u0648\u0642\u064a\u0639\u0627\u062a \u0627\u0644\u062e\u0628\u064a\u062b\u0629 \u0642\u062f \u062a\u0643\u0648\u0646 \u062e\u0637\u064a\u0631\u0629.<\/td>\n<\/tr>\n<tr>\n<td>\u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0629 \u0639\u0644\u0649 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632<\/td>\n<td>\u062a\u0633\u0645\u062d \u0644\u0639\u0642\u062f \u0630\u0643\u064a \u0628\u0625\u0646\u0641\u0627\u0642 \u0631\u0645\u0632 \u0645\u0645\u064a\u0632 \u0645\u0646 \u0645\u062d\u0641\u0638\u062a\u0643. \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a \u063a\u064a\u0631 \u0627\u0644\u0645\u062d\u062f\u0648\u062f\u0629 \u062a\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u062e\u0627\u0637\u0631.<\/td>\n<\/tr>\n<tr>\n<td>\u062a\u0623\u0643\u064a\u062f \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0629<\/td>\n<td>\u062a\u0631\u0633\u0644 \u0645\u0639\u0627\u0645\u0644\u0629 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u062a\u062f\u0641\u0639 \u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632 \u0648\u062a\u063a\u064a\u0631 \u0627\u0644\u0623\u0631\u0635\u062f\u0629 \u0623\u0648 \u062d\u0627\u0644\u0629 \u0627\u0644\u0639\u0642\u062f.<\/td>\n<\/tr>\n<tr>\n<td>\u0625\u0644\u063a\u0627\u0621 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0629<\/td>\n<td>\u062a\u0642\u0644\u0644 \u0623\u0648 \u062a\u0632\u064a\u0644 \u0625\u0630\u0646\u064b\u0627 \u0633\u0627\u0628\u0642\u064b\u0627 \u0644\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632. \u064a\u062a\u0637\u0644\u0628 \u0647\u0630\u0627 \u0639\u0627\u062f\u0629\u064b \u0645\u0639\u0627\u0645\u0644\u0629 \u062c\u062f\u064a\u062f\u0629 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u0648\u0631\u0633\u0648\u0645 \u063a\u0627\u0632.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u0644\u0627 \u064a\u0624\u062f\u064a \u0641\u0635\u0644 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0639\u0646 \u0645\u0648\u0642\u0639 \u0648\u064a\u0628 \u0625\u0644\u0649 \u0625\u0632\u0627\u0644\u0629 \u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627. \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u062c\u0631\u0628\u0648\u0646 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u062a\u0637\u0628\u064a\u0642\u0627\u062a \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a \u0645\u0631\u0627\u062c\u0639\u0629 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0628\u0634\u0643\u0644 \u062f\u0648\u0631\u064a\u060c \u062e\u0627\u0635\u0629 \u0628\u0639\u062f \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0645\u0646\u0635\u0629 \u062a\u062f\u0627\u0648\u0644 \u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u062c\u062f\u064a\u062f\u0629\u060c \u0623\u0648 \u062c\u0633\u0631 (bridge)\u060c \u0623\u0648 \u0633\u0648\u0642 NFT\u060c \u0623\u0648 \u0645\u0648\u0642\u0639 \u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f.<\/p>\n<p>\u0645\u0646 \u0627\u0644\u0642\u064a\u0648\u062f \u0627\u0644\u0647\u0627\u0645\u0629 \u0627\u0644\u062a\u064a \u064a\u062c\u0628 \u0645\u0639\u0631\u0641\u062a\u0647\u0627: \u0625\u0644\u063a\u0627\u0621 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0644\u0627 \u064a\u0645\u062b\u0644 \u0625\u0646\u0642\u0627\u0630\u064b\u0627 \u0643\u0627\u0645\u0644\u0627\u064b \u0625\u0630\u0627 \u0643\u0627\u0646\u062a \u0627\u0644\u0639\u0628\u0627\u0631\u0629 \u0627\u0644\u0623\u0648\u0644\u064a\u0629 \u0642\u062f \u062a\u0639\u0631\u0636\u062a \u0644\u0644\u0627\u062e\u062a\u0631\u0627\u0642 \u0628\u0627\u0644\u0641\u0639\u0644. \u0625\u0630\u0627 \u062a\u0645 \u0627\u0633\u062a\u0646\u0632\u0627\u0641 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0641\u064a \u0643\u0644 \u0645\u0631\u0629 \u062a\u0635\u0644 \u0641\u064a\u0647\u0627 \u0631\u0633\u0648\u0645 \u063a\u0627\u0632 \u062c\u062f\u064a\u062f\u0629\u060c \u0641\u0625\u0646 \u0627\u0644\u062e\u0637\u0648\u0629 \u0627\u0644\u0623\u0643\u062b\u0631 \u0623\u0645\u0627\u0646\u064b\u0627 \u0647\u064a \u0627\u0644\u062a\u062e\u0644\u064a \u0639\u0646 \u062a\u0644\u0643 \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0648\u0625\u0646\u0634\u0627\u0621 \u0645\u062d\u0641\u0638\u0629 \u062c\u062f\u064a\u062f\u0629\u060c \u0648\u0646\u0642\u0644 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0646\u0638\u064a\u0641\u0629 \u0641\u0642\u0637 \u0645\u0646 \u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a \u063a\u064a\u0631 \u0627\u0644\u0645\u062e\u062a\u0631\u0642\u0629.<\/p>\n<\/section>\n<section>\n<header>\n<h2 id=\"section-11\">\u0645\u0646 \u0623\u064a\u0646 \u064a\u0623\u062a\u064a \u0639\u0627\u0626\u062f DeFi\u061f<\/h2>\n<\/header>\n<p>\u064a\u0635\u0628\u062d \u062a\u0642\u064a\u064a\u0645 \u0639\u0627\u0626\u062f DeFi \u0623\u0633\u0647\u0644 \u0639\u0646\u062f\u0645\u0627 \u062a\u062a\u0645\u0643\u0646 \u0645\u0646 \u062a\u062d\u062f\u064a\u062f \u0627\u0644\u062c\u0647\u0629 \u0627\u0644\u062a\u064a \u062a\u062f\u0641\u0639\u0647. \u0642\u062f \u064a\u0639\u0631\u0636 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0646\u0633\u0628\u0629 APY \u0645\u0639\u064a\u0646\u0629 \u0641\u064a \u0627\u0644\u0648\u0627\u062c\u0647\u0629 \u0627\u0644\u0623\u0645\u0627\u0645\u064a\u0629\u060c \u0644\u0643\u0646 \u0645\u0635\u062f\u0631 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0626\u062f \u0647\u0648 \u0627\u0644\u0630\u064a \u064a\u062d\u062f\u062f \u0645\u062f\u0649 \u0647\u0634\u0627\u0634\u062a\u0647 \u0641\u064a \u0627\u0644\u0648\u0627\u0642\u0639. \u064a\u0633\u0631\u062f \u0627\u0644\u062c\u062f\u0648\u0644 \u0623\u062f\u0646\u0627\u0647 \u0643\u0644 \u0645\u0635\u062f\u0631 \u0639\u0627\u0626\u062f \u0645\u0639 \u0627\u0644\u0623\u0633\u0626\u0644\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u0633\u062a\u062d\u0642 \u0637\u0631\u062d\u0647\u0627 \u0642\u0628\u0644 \u0627\u0644\u0625\u064a\u062f\u0627\u0639.<\/p>\n<table>\n<thead>\n<tr>\n<th>\u0645\u0635\u062f\u0631 \u0627\u0644\u0639\u0627\u0626\u062f<\/th>\n<th>\u0645\u0627 \u064a\u062c\u0628 \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646\u0647 \u0642\u0628\u0644 \u0627\u0644\u0625\u064a\u062f\u0627\u0639<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0641\u0627\u0626\u062f\u0629 \u0627\u0644\u0645\u0642\u062a\u0631\u0636\u064a\u0646<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u0627\u0644\u0637\u0644\u0628 \u0639\u0644\u0649 \u0627\u0644\u0623\u0635\u0644\u060c \u0648\u0645\u0639\u062f\u0644 \u0627\u0644\u0627\u0633\u062a\u062e\u062f\u0627\u0645\u060c \u0648\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u0627\u0644\u0645\u062a\u063a\u064a\u0631\u0629\u060c \u0648\u062c\u0648\u062f\u0629 \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a\u060c \u0648\u062a\u0627\u0631\u064a\u062e \u0627\u0644\u062a\u0635\u0641\u064a\u0629.<\/td>\n<\/tr>\n<tr>\n<td>\u0631\u0633\u0648\u0645 \u062a\u062f\u0627\u0648\u0644 DEX<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u062d\u062c\u0645 \u0627\u0644\u0645\u062c\u0645\u0639\u060c \u0648\u0641\u0626\u0629 \u0627\u0644\u0631\u0633\u0648\u0645\u060c \u0648\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0623\u0635\u0644\u060c \u0648\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629 (Impermanent Loss).<\/td>\n<\/tr>\n<tr>\n<td>\u062d\u0648\u0627\u0641\u0632 \u0627\u0644\u062a\u0648\u0643\u0646\u0627\u062a<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u0643\u064a\u0641\u064a\u0629 \u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0645\u0643\u0627\u0641\u0622\u062a\u060c \u0648\u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646\u062a \u0627\u0644\u0627\u0646\u0628\u0639\u0627\u062b\u0627\u062a \u0645\u0624\u0642\u062a\u0629\u060c \u0648\u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646 \u0627\u0644\u062a\u0648\u0643\u0646 \u0627\u0644\u0645\u064f\u0643\u0627\u0641\u0650\u0626 \u064a\u062a\u0645\u062a\u0639 \u0628\u0637\u0644\u0628 \u062d\u0642\u064a\u0642\u064a.<\/td>\n<\/tr>\n<tr>\n<td>\u0645\u0643\u0627\u0641\u0622\u062a \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0627\u0644\u0633\u0627\u0626\u0644<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0645\u062f\u0642\u0642 (validator)\u060c \u0648\u0631\u0633\u0648\u0645 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u060c \u0648\u0622\u0644\u064a\u0627\u062a \u0627\u0644\u0633\u062d\u0628\u060c \u0648\u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646 \u062a\u0648\u0643\u0646 \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a \u0627\u0644\u0633\u0627\u0626\u0644 \u064a\u062a\u062f\u0627\u0648\u0644 \u0628\u0627\u0644\u0642\u0631\u0628 \u0645\u0646 \u0623\u0635\u0644\u0647 \u0627\u0644\u0623\u0633\u0627\u0633\u064a.<\/td>\n<\/tr>\n<tr>\n<td>\u0639\u0627\u0626\u062f \u0645\u062f\u0639\u0648\u0645 \u0628\u0623\u0635\u0648\u0644 \u062d\u0642\u064a\u0642\u064a\u0629 (RWA) \u0623\u0648 \u062e\u0632\u064a\u0646\u0629<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u0647\u064a\u0643\u0644 \u0627\u0644\u0645\u064f\u0635\u062f\u0631\u060c \u0648\u062d\u0642\u0648\u0642 \u0627\u0644\u0627\u0633\u062a\u0631\u062f\u0627\u062f\u060c \u0648\u0627\u0644\u062d\u0636\u0627\u0646\u0629\u060c \u0648\u0627\u0644\u0627\u062e\u062a\u0635\u0627\u0635 \u0627\u0644\u0642\u0636\u0627\u0626\u064a\u060c \u0648\u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646 \u064a\u0645\u0643\u0646 \u0633\u062d\u0628 \u0627\u0644\u0623\u0635\u0644 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 (on-chain).<\/td>\n<\/tr>\n<tr>\n<td>\u0627\u0644\u0631\u0627\u0641\u0639\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0623\u0648 \u0627\u0644\u062a\u062f\u0648\u064a\u0631 (Looping)<\/td>\n<td>\u062a\u062d\u0642\u0642 \u0645\u0646 \u0639\u062a\u0628\u0627\u062a \u0627\u0644\u062a\u0635\u0641\u064a\u0629\u060c \u0648\u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636\u060c \u0648\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0623\u0648\u0631\u0627\u0643\u0644 (oracle)\u060c \u0648\u0645\u0627\u0630\u0627 \u064a\u062d\u062f\u062b \u0623\u062b\u0646\u0627\u0621 \u062a\u062d\u0631\u0643\u0627\u062a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0633\u0631\u064a\u0639\u0629.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u0627\u062e\u062a\u0628\u0627\u0631 \u0645\u0641\u064a\u062f: \u0625\u0630\u0627 \u062a\u0639\u0630\u0631 \u0634\u0631\u062d \u0645\u0635\u062f\u0631 \u0627\u0644\u0639\u0627\u0626\u062f \u0641\u064a \u062c\u0645\u0644\u0629 \u0648\u0627\u062d\u062f\u0629\u060c \u0641\u0645\u0646 \u0627\u0644\u0645\u062d\u062a\u0645\u0644 \u0623\u0646 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u062a\u062d\u062a\u0627\u062c \u0625\u0644\u0649 \u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0628\u062d\u062b. \u0639\u0628\u0627\u0631\u0629 &#8220;\u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u064a\u062f\u0641\u0639 20%&#8221; \u0644\u064a\u0633\u062a \u0634\u0631\u062d\u064b\u0627 \u0643\u0627\u0641\u064a\u064b\u0627. \u0628\u064a\u0646\u0645\u0627 \u0639\u0628\u0627\u0631\u0629 &#8220;\u0627\u0644\u0645\u0642\u062a\u0631\u0636\u0648\u0646 \u064a\u062f\u0641\u0639\u0648\u0646 \u0641\u0627\u0626\u062f\u0629 \u0645\u062a\u063a\u064a\u0631\u0629 \u0645\u0642\u0627\u0628\u0644 \u0633\u064a\u0648\u0644\u0629 USDC&#8221; \u0623\u0648\u0636\u062d. \u0648&#8221;\u062d\u0648\u0627\u0641\u0632 \u0627\u0644\u062a\u0648\u0643\u0646\u0627\u062a \u0627\u0644\u062c\u062f\u064a\u062f\u0629 \u062a\u062f\u0639\u0645 \u0627\u0644\u0648\u062f\u0627\u0626\u0639 \u0645\u0624\u0642\u062a\u064b\u0627&#8221; \u062a\u0634\u064a\u0631 \u0625\u0644\u0649 \u0645\u062e\u0627\u0637\u0631 \u0623\u0639\u0644\u0649.<\/p>\n<\/section>\n<header>\n<h2 id=\"section-12\">\u0627\u0644\u0623\u0633\u0626\u0644\u0629 \u0627\u0644\u0634\u0627\u0626\u0639\u0629<\/h2>\n<\/header>\n<details>\n<summary><strong>\u0647\u0644 DeFi \u0622\u0645\u0646\u061f<\/strong><\/summary>\n<p>\u064a\u0646\u0637\u0648\u064a 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CeFi\u061f<\/strong><\/summary>\n<p>\u064a\u0634\u064a\u0631 CeFi (\u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0645\u0631\u0643\u0632\u064a) \u0625\u0644\u0649 \u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0627\u0644\u062a\u064a \u062a\u062f\u064a\u0631\u0647\u0627 \u0627\u0644\u0634\u0631\u0643\u0627\u062a\u060c \u0645\u062b\u0644 \u0645\u0646\u0635\u0627\u062a \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0643\u0640 Coinbase \u0648 Kraken\u060c \u0648\u062e\u062f\u0645\u0627\u062a \u0627\u0644\u062d\u0641\u0638\u060c \u0648\u0645\u0646\u0635\u0627\u062a \u0625\u0642\u0631\u0627\u0636 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629. \u064a\u062a\u0637\u0644\u0628 CeFi \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646 \u0627\u0644\u0647\u0648\u064a\u0629\u060c \u0648\u0625\u0646\u0634\u0627\u0621 \u062d\u0633\u0627\u0628\u060c \u0648\u0627\u0644\u062b\u0642\u0629 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\u0628\u0627\u0644\u0636\u0631\u0648\u0631\u0629. \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0647\u064a \u0641\u0626\u0629 \u0623\u0648\u0633\u0639\u061b \u0641\u0640 Bitcoin\u060c \u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c \u0647\u064a \u0639\u0645\u0644\u0629 \u0645\u0634\u0641\u0631\u0629 \u0648\u0644\u0643\u0646\u0647\u0627 \u0644\u064a\u0633\u062a \u0623\u0635\u0644\u064b\u0627 \u0645\u0646 \u0623\u0635\u0648\u0644 DeFi \u0628\u0627\u0644\u062a\u0639\u0631\u064a\u0641 \u0627\u0644\u0642\u064a\u0627\u0633\u064a. \u064a\u0634\u064a\u0631 DeFi \u062a\u062d\u062f\u064a\u062f\u064b\u0627 \u0625\u0644\u0649 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0648\u0627\u0644\u062a\u0637\u0628\u064a\u0642\u0627\u062a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u0628\u0646\u064a\u0629 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 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\u0627\u0644\u062a\u0641\u0627\u0639\u0644 \u0627\u0644\u0646\u0634\u0637 \u0645\u0639 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0623\u0648 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0623\u0648 \u062a\u0648\u0644\u064a\u062f \u0627\u0644\u0639\u0627\u0626\u062f \u0645\u0646 \u062e\u0644\u0627\u0644 \u0645\u062d\u0641\u0638\u0629 \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062d\u0641\u0638.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0645\u0627 \u0647\u0648 TVL \u0641\u064a DeFi\u061f<\/strong><\/summary>\n<p>\u064a\u0634\u064a\u0631 TVL \u0625\u0644\u0649 \u0625\u062c\u0645\u0627\u0644\u064a \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u0642\u0641\u0644\u0629 (Total Value Locked)\u060c \u0648\u0647\u0648 \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u062f\u0648\u0644\u0627\u0631\u064a\u0629 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a\u0629 \u0644\u0623\u0635\u0648\u0644 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\u0648\u0627\u0644\u0634\u0628\u0643\u0627\u062a\u060c \u0648\u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a\u060c \u0648\u0642\u0648\u0627\u0639\u062f \u0627\u0644\u062e\u0631\u0648\u062c \u0642\u0628\u0644 \u0627\u0644\u0633\u0639\u064a \u0648\u0631\u0627\u0621 \u0627\u0644\u0639\u0627\u0626\u062f.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0645\u0627 \u0647\u0648 \u0623\u0633\u0647\u0644 \u0646\u0634\u0627\u0637 DeFi \u0644\u0644\u0645\u0628\u062a\u062f\u0626\u064a\u0646\u061f<\/strong><\/summary>\n<p>\u0623\u0633\u0647\u0644 \u0646\u0642\u0637\u0629 \u0628\u062f\u0627\u064a\u0629 \u0647\u064a \u0639\u0645\u0644\u064a\u0629 \u062a\u0628\u0627\u062f\u0644 \u0635\u063a\u064a\u0631\u0629 \u0623\u0648 \u0645\u0631\u0643\u0632 \u0625\u0642\u0631\u0627\u0636 \u0628\u0633\u064a\u0637 \u0644\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0639\u0644\u0649 \u0634\u0628\u0643\u0629 \u0648\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0645\u0633\u062a\u062e\u062f\u0645 \u0639\u0644\u0649 \u0646\u0637\u0627\u0642 \u0648\u0627\u0633\u0639. \u064a\u0639\u0644\u0645 \u0647\u0630\u0627 \u0627\u0644\u0646\u0634\u0627\u0637 \u0627\u0644\u062a\u062f\u0641\u0642 \u0627\u0644\u0623\u0633\u0627\u0633\u064a: \u0631\u0628\u0637 \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646 \u0627\u0644\u0634\u0628\u0643\u0629\u060c \u0645\u0631\u0627\u062c\u0639\u0629 \u0631\u0633\u0648\u0645 \u0627\u0644\u063a\u0627\u0632\u060c \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0629 \u0639\u0644\u0649 \u0627\u0644\u0631\u0645\u0632\u060c \u062a\u0623\u0643\u064a\u062f \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0629\u060c \u0648\u0645\u0631\u0627\u0642\u0628\u0629 \u0627\u0644\u0645\u0631\u0643\u0632. \u064a\u062c\u0628 \u0623\u0646 \u062a\u0623\u062a\u064a \u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0633\u064a\u0648\u0644\u0629\u060c \u0648\u0627\u0644\u062e\u0632\u0627\u0626\u0646 \u0630\u0627\u062a \u0627\u0644\u0631\u0627\u0641\u0639\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629\u060c \u0648\u0627\u0644\u0645\u0632\u0627\u0631\u0639 \u0627\u0644\u062c\u062f\u064a\u062f\u0629 \u0644\u0627\u062d\u0642\u064b\u0627.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0647\u0644 \u0623\u062d\u062a\u0627\u062c \u0625\u0644\u0649 ETH \u0644\u0627\u0633\u062a\u062e\u062f\u0627\u0645 DeFi\u061f<\/strong><\/summary>\n<p>\u062a\u062d\u062a\u0627\u062c \u0625\u0644\u0649 \u0631\u0645\u0632 \u0627\u0644\u063a\u0627\u0632 \u0627\u0644\u0623\u0635\u0644\u064a \u0644\u0644\u0634\u0628\u0643\u0629 \u0627\u0644\u062a\u064a \u062a\u0633\u062a\u062e\u062f\u0645\u0647\u0627. \u0639\u0644\u0649 \u0634\u0628\u0643\u0629 Ethereum \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0648\u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0634\u0628\u0643\u0627\u062a \u0627\u0644\u0637\u0628\u0642\u0629 \u0627\u0644\u062b\u0627\u0646\u064a\u0629 \u0644\u0640 Ethereum\u060c \u064a\u0639\u0646\u064a \u0630\u0644\u0643 \u0639\u0627\u062f\u0629\u064b ETH. \u0639\u0644\u0649 \u0627\u0644\u0634\u0628\u0643\u0627\u062a \u0627\u0644\u0623\u062e\u0631\u0649\u060c \u0642\u062f \u064a\u0643\u0648\u0646 SOL \u0623\u0648 BNB \u0623\u0648 AVAX \u0623\u0648 MATIC \u0623\u0648 \u0623\u064a \u0623\u0635\u0644 \u0623\u0635\u0644\u064a \u0622\u062e\u0631. \u0627\u0645\u062a\u0644\u0627\u0643 USDC \u0623\u0648 USDT \u0641\u0642\u0637 \u0644\u0627 \u064a\u0643\u0641\u064a \u062f\u0627\u0626\u0645\u064b\u0627 \u0644\u0623\u0646 \u0645\u0639\u0638\u0645 \u0645\u0639\u0627\u0645\u0644\u0627\u062a DeFi \u062a\u062a\u0637\u0644\u0628 \u0631\u0633\u0648\u0645 \u063a\u0627\u0632.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0647\u0644 \u064a\u0624\u062f\u064a \u0642\u0637\u0639 \u0627\u062a\u0635\u0627\u0644 \u0645\u062d\u0641\u0638\u062a\u064a \u0625\u0644\u0649 \u0625\u0632\u0627\u0644\u0629 \u0645\u0648\u0627\u0641\u0642\u0627\u062a DeFi\u061f<\/strong><\/summary>\n<p>\u0644\u0627. \u064a\u0624\u062f\u064a \u0642\u0637\u0639 \u0627\u062a\u0635\u0627\u0644 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0639\u0646 \u0645\u0648\u0642\u0639 \u0648\u064a\u0628 \u0625\u0644\u0649 \u0625\u0646\u0647\u0627\u0621 \u0627\u062a\u0635\u0627\u0644 \u0627\u0644\u0645\u0648\u0642\u0639 \u0641\u064a \u0648\u0627\u062c\u0647\u0629 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0641\u0642\u0637. \u0644\u0627 \u064a\u0624\u062f\u064a \u0630\u0644\u0643 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627 \u0625\u0644\u0649 \u0625\u0632\u0627\u0644\u0629 \u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0627\u0644\u0631\u0645\u0648\u0632 \u0627\u0644\u0645\u0645\u0646\u0648\u062d\u0629 \u0628\u0627\u0644\u0641\u0639\u0644 \u0644\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629. \u0644\u0625\u0632\u0627\u0644\u0629 \u0647\u0630\u0647 \u0627\u0644\u0623\u0630\u0648\u0646\u0627\u062a\u060c \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0625\u0644\u0649 \u0625\u0644\u063a\u0627\u0621 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0629 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0623\u0648 \u0645\u0633\u062a\u0643\u0634\u0641 \u0627\u0644\u0643\u062a\u0644\u060c \u0623\u0648 \u0623\u062f\u0627\u0629 \u0645\u0648\u062b\u0648\u0642\u0629 \u0644\u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u0648\u0627\u0641\u0642\u0627\u062a.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0644\u0645\u0627\u0630\u0627 \u062a\u062a\u063a\u064a\u0631 \u0639\u0648\u0627\u0626\u062f DeFi \u0628\u0647\u0630\u0647 \u0627\u0644\u0633\u0631\u0639\u0629\u061f<\/strong><\/summary>\n<p>\u062a\u062a\u063a\u064a\u0631 \u0639\u0648\u0627\u0626\u062f DeFi \u0644\u0623\u0646 \u0627\u0644\u0639\u0631\u0636 \u0648\u0627\u0644\u0637\u0644\u0628 \u0648\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0631\u0645\u0648\u0632 \u0648\u062d\u062c\u0645 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0648\u0637\u0644\u0628 \u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636 \u0648\u0627\u0644\u062d\u0648\u0627\u0641\u0632 \u0648\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u0645\u062c\u0645\u0639 \u062a\u062a\u063a\u064a\u0631 \u0628\u0627\u0633\u062a\u0645\u0631\u0627\u0631. \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u0646\u062e\u0641\u0636 \u0633\u0639\u0631 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0639\u0646\u062f\u0645\u0627 \u064a\u0648\u062f\u0639 \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0646\u0641\u0633 \u0627\u0644\u0623\u0635\u0644. \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u0646\u0647\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0633\u0646\u0648\u064a \u0644\u0640 \u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f \u0639\u0646\u062f\u0645\u0627 \u062a\u062a\u0628\u0627\u0637\u0623 \u0627\u0646\u0628\u0639\u0627\u062b\u0627\u062a \u0631\u0645\u0632 \u0627\u0644\u0645\u0643\u0627\u0641\u0623\u0629 \u0623\u0648 \u064a\u0646\u062e\u0641\u0636 \u0633\u0639\u0631 \u0631\u0645\u0632 \u0627\u0644\u0645\u0643\u0627\u0641\u0623\u0629. \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u062d\u0642\u0642 \u0645\u0631\u0643\u0632 \u0645\u0632\u0648\u062f \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0641\u064a DEX \u0631\u0633\u0648\u0645\u064b\u0627 \u0628\u064a\u0646\u0645\u0627 \u0644\u0627 \u064a\u0632\u0627\u0644 \u064a\u0641\u0642\u062f \u0627\u0644\u0642\u064a\u0645\u0629 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u062e\u0633\u0627\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u062f\u0627\u0626\u0645\u0629.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0647\u0644 \u062f\u062e\u0644 DeFi \u062e\u0627\u0636\u0639 \u0644\u0644\u0636\u0631\u064a\u0628\u0629\u061f<\/strong><\/summary>\n<p>\u063a\u0627\u0644\u0628\u064b\u0627\u060c \u0646\u0639\u0645. \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u0624\u062f\u064a \u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0644\u062a\u0628\u0627\u062f\u0644\u060c \u0648\u0645\u0643\u0627\u0641\u0622\u062a \u0627\u0644\u0625\u0642\u0631\u0627\u0636\u060c \u0648\u0645\u0643\u0627\u0641\u0622\u062a \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a\u060c \u0648\u062f\u062e\u0644 \u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0633\u064a\u0648\u0644\u0629\u060c \u0648\u0645\u0643\u0627\u0641\u0622\u062a \u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0639\u0627\u0626\u062f\u060c \u0648\u0627\u0644\u062a\u0635\u0631\u0641 \u0641\u064a \u0627\u0644\u0631\u0645\u0648\u0632 \u0625\u0644\u0649 \u0623\u062d\u062f\u0627\u062b \u062e\u0627\u0636\u0639\u0629 \u0644\u0644\u0636\u0631\u064a\u0628\u0629 \u0627\u0639\u062a\u0645\u0627\u062f\u064b\u0627 \u0639\u0644\u0649 \u0627\u0644\u0628\u0644\u062f. \u0642\u062f \u0644\u0627 \u062a\u0635\u062f\u0631 \u0645\u0646\u0635\u0627\u062a DeFi \u0646\u0645\u0627\u0630\u062c \u0636\u0631\u064a\u0628\u064a\u0629 \u0643\u0627\u0645\u0644\u0629\u060c \u0644\u0630\u0644\u0643 \u063a\u0627\u0644\u0628\u064b\u0627 \u0645\u0627 \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0648\u0646 \u0625\u0644\u0649 \u0633\u062c\u0644\u0627\u062a \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0648\u0635\u0627\u062f\u0631\u0627\u062a \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a\u060c \u0648\u0633\u062c\u0644\u0627\u062a \u0627\u0644\u062a\u0643\u0644\u0641\u0629 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629\u060c \u0648\u0637\u0648\u0627\u0628\u0639 \u0648\u0642\u062a \u0627\u0644\u0645\u0643\u0627\u0641\u0623\u0629. \u062a\u062e\u062a\u0644\u0641 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0629 \u0627\u0644\u0636\u0631\u064a\u0628\u064a\u0629 \u062d\u0633\u0628 \u0627\u0644\u0648\u0644\u0627\u064a\u0629 \u0627\u0644\u0642\u0636\u0627\u0626\u064a\u0629\u060c \u0644\u0630\u0627 \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646 \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646 \u0627\u0644\u0642\u0648\u0627\u0639\u062f \u0627\u0644\u0645\u062d\u0644\u064a\u0629 \u0642\u0628\u0644 \u0627\u0641\u062a\u0631\u0627\u0636 \u0623\u0646 \u062f\u062e\u0644 DeFi \u0645\u0639\u0641\u0649 \u0645\u0646 \u0627\u0644\u0636\u0631\u0627\u0626\u0628.<\/p>\n<\/details>\n<details>\n<summary><strong>\u0645\u0627 \u0627\u0644\u0641\u0631\u0642 \u0628\u064a\u0646 \u0645\u062d\u0641\u0638\u0629 DeFi \u0648\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 DeFi\u061f<\/strong><\/summary>\n<p>\u0645\u062d\u0641\u0638\u0629 DeFi \u0647\u064a \u0627\u0644\u0623\u062f\u0627\u0629 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u0629 \u0644\u0644\u0627\u062d\u062a\u0641\u0627\u0638 \u0628\u0627\u0644\u0623\u0635\u0648\u0644 \u0648\u062a\u0648\u0642\u064a\u0639 \u0627\u0644\u0645\u0639\u0627\u0645\u0644\u0627\u062a. \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 DeFi \u0647\u0648 \u0646\u0638\u0627\u0645 \u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0630\u0643\u064a \u0627\u0644\u0630\u064a \u062a\u062a\u0641\u0627\u0639\u0644 \u0645\u0639\u0647 \u0627\u0644\u0645\u062d\u0641\u0638\u0629\u060c \u0645\u062b\u0644 DEX \u0623\u0648 \u0633\u0648\u0642 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0623\u0648 \u0627\u0644\u062c\u0633\u0631 \u0623\u0648 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0627\u0644\u0633\u062a\u0627\u0643\u064a\u0646\u063a. \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0644\u0627 \u062a\u062c\u0639\u0644 \u0627\u0644\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644 \u0622\u0645\u0646\u064b\u0627\u060c \u0628\u0644 \u062a\u0633\u0627\u0639\u062f \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0641\u0642\u0637 \u0639\u0644\u0649 \u0627\u0644\u0648\u0635\u0648\u0644 \u0625\u0644\u064a\u0647.<\/p>\n<\/details>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>\u0634\u0631\u062d \u0634\u0627\u0645\u0644 \u0644\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DeFi): \u0641\u0647\u0645 \u0623\u0633\u0627\u0633\u064a\u0627\u062a\u0647\u060c \u0645\u0643\u0648\u0646\u0627\u062a\u0647\u060c \u0648\u0643\u064a\u0641 \u064a\u063a\u064a\u0631 \u0627\u0644\u0645\u0634\u0647\u062f \u0627\u0644\u0645\u0627\u0644\u064a 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