# DeFi — X 热门讨论 (2026-09-17 17:10 UTC)
## @DamiDefi (Dami-Defi) · 09-17 15:19 · ♥131 ↻15 💬6 Oracle made $19.35B last quarter and spent $28.5B building data centers.
That's capex at 147% of revenue. Same quarter last year it was $8.5B.
Free cash flow went to negative $5.4B. Debt is at $125B, plus $288B of lease commitments.
How much longer could they do this for? https://t.co/V2UKtMHGuX https://x.com/DamiDefi/status/2100605454212890762
## @DEFI_Khristophe (DeFi Khristopher Alt) · 09-17 12:47 · ♥72 ↻0 💬89 This is what on-chain trading is supposed to feel like. Fully on-chain CLOB, 250k+ TPS, one-block finality, self-custody, and a live mainnet. TxFlow is built different. Still early + invite-only, and the Trader Royale with up to $20k on the boards ends in 4 days. > 引用 @Krypto_Bishop: Been using @TxFlow_L1 myself and I’m opening access for the community, It’s an L1 built for markets, with a live on-chain CLOB perp DEX.
Orders, matching, and liquidations settle on-chain, Self-custody, 250k+ TPS, One-block finality, Mainnet is live, access is still invite-only.
I reached out for a link so anyone here who wants to test it can get in, I’m also in their Trader Royale event.
Up to $20k on the PnL / ROI boards, and it ends in 4 days. Not the reason I started using it. Just something I joined while I’m already trading there.
Access: https://t.co/PSWK7GGk2r https://x.com/DEFI_Khristophe/status/2100567319332151342
## @CryptoPatel (Crypto Patel) · 09-17 15:30 · ♥106 ↻8 💬9 Base DeFi TVL Just Hit $5.7 Billion. https://t.co/2lQmwofGs1 https://x.com/CryptoPatel/status/2100608215100825839
## @DamiDefi (Dami-Defi) · 09-17 16:20 · ♥92 ↻15 💬7 Every cycle you panic sell the bottom and buy the top.
The only way to win is to do the opposite.
Do what feels most uncomfortable. https://x.com/DamiDefi/status/2100620798491001138
## @Defi_Rocketeer (Defi Rocketeer) · 09-17 14:32 · ♥81 ↻8 💬27 while ethereum:0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3 has been ranging around $0.05, @zama has quietly built almost an entire confidential DeFi stack
Price is still moving sideways, but a lot has changed behind #Zama.
from one initial confidential USDC vault, the ecosystem has now expanded into multiple vaults, multiple assets, and more use cases.
>> $65M+ Shielded TVL, with around $45M sitting in vaults.
>> From one initial vault, Zama has expanded to 16 curated yield vaults on Morpho, covering USDC, USDT, WBTC, AUSD, and tGBP.
>> USDT is now live on Zama, expanding confidential DeFi to one of the largest stablecoins in the market.
>> Confidential Swap Protocol is now live. Users can swap between confidential assets without publicly revealing intent or size.
>> With Merkl / @merkl_xyz , incentives are also starting to move onto private rails. Users can earn rewards without publicly exposing positions, reward amounts, or leaderboards.
from confidential vaults, #Zama is now moving into swaps and incentives, gradually completing its private DeFi product stack.
Meanwhile, ethereum:0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3 is still mostly consolidating around the ~$0.05 area instead of continuing to run straight up.
i quite like this kind of setup when price is sitting around support.
at this price range, I’ll start allocating part of my capital to ethereum:0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3 and keep watching. The current setup looks pretty interesting.
NFA. > 引用 @zama: Confidential DeFi at scale, live today.
Zama is the fastest growing confidentiality protocol for onchain finance.
Today, Zama expands confidential access to 16 curated yield vaults across 5 institutional curators and 5 assets: USDC, USDT, AUSD, WBTC, and tGBP, all deployed on @Morpho.
The same trusted curators and strategies that institutional capital already uses, now with confidential entry.
Alongside the vaults, the Zama Confidential Swap Protocol goes live. Swap between confidential assets without exposing intent or size.
Curated by: Armitage by @wintermute_t, @Bitwise, @flowdesk_co, @RockawayX, @SteakhouseFi
Access: @Morpho, @utila_io, @yield_xyz, @zerion
Incentives: @pendle_fi, @merkl_xyz
With support from: @Tether (USDT), @BitGo (WBTC), @tokenGBP (tGBP), @withAUSD (AUSD)
Shield, send, deposit, earn, and swap, all confidentially at: https://t.co/u8HcSVa8dH https://x.com/Defi_Rocketeer/status/2100593668101202165
## @2xnmore (2xnmore) · 09-17 14:00 · ♥74 ↻10 💬8 ONDO and LINK are the same story with different logos.
The company is winning. The token is not.
Chainlink runs the price feeds under most of DeFi. Elite network.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca barely captures a cent of what it secures.
Ondo won tokenized stocks. $12B traded on perps in three months. Elite venue.
ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 sat flat at $0.33 through the whole run.
Both built the network. Neither token inherited it.
And the bull case is word for word identical.
Fees will route to the token. Staking will matter. Someday.
That "someday" is the entire investment. The tech already shipped.
So prove me wrong with a mechanic, not a feeling.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca holders: what exactly pipes CCIP and enterprise revenue into the token, and when.
ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 holders: what exactly turns perps volume into value for holders, and when.
Not the vision. The mechanic. The date.
Whoever answers with a real roadmap read the docs.
Whoever answers with "trust the team" is defending a bag and calling it conviction.
So which one are you? https://x.com/2xnmore/status/2100585565758316779
## @Pickle_cRypto (pickle) · 09-17 14:05 · ♥79 ↻2 💬9 I've got some rotation ideas in my head right now
I feel like ZEC is a 'first leg' runner for this bullmarket when it comes to outperformance vs BTC.
Think ETH in 2016-2017 summer, DeFi in 2020, SOL in late 23
That's to say, the outperformance vs BTC is mostly early on, then it gets carried up by the market for the remainder of the bull (ETHBTC peaked in Summer 2017, SOLBTC near enough peaked in Dec 2023 for that cycle etc)
HYPE was/is a bear market darling, but may not regain significant outperformance vs BTC til late stages when the market/perps go HAM again
NEAR is hard to understand - if agents take off soon, or intents volume blows up, or indeed being ZEC privacy narrative is enough, it might be a 'first leg' coin too
ENA is also a hard one to decipher - USDe will blow up again, but maybe significant outperformance will follow timing w/ HYPE due to needing heavy perps volume for the carry trade - but it also has multiple new revenue streams now too inc neobank so idk)
Basically, core idea here is lean on ZEC for the easyish gains early, then figure out where to rotate to some time next year (even if that means basically BTC for a while). https://x.com/Pickle_cRypto/status/2100586847025987836