{"id":31345,"date":"2025-05-21T15:00:12","date_gmt":"2025-05-21T08:00:12","guid":{"rendered":"https:\/\/www.fiahub.com\/blog\/?p=31345"},"modified":"2025-05-18T14:43:04","modified_gmt":"2025-05-18T07:43:04","slug":"yield-bearing-stablecoin-la-gi","status":"publish","type":"post","link":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/","title":{"rendered":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">N\u1ed9i dung b\u00e0i vi\u1ebft<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Yield-Bearing_Stablecoin_la_gi\" >Yield-Bearing Stablecoin l\u00e0 g\u00ec?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Rebase\" >Rebase<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Non-Rebase\" >Non-Rebase<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Cac_loai_Yield\" >C\u00e1c lo\u1ea1i Yield<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#StakingDerivatives\" >Staking\/Derivatives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Cho_vay_DeFi\" >Cho vay DeFi<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Cac_loai_Yield-Bearing_Stablecoin_pho_bien_nhat_hien_nay\" >C\u00e1c lo\u1ea1i Yield-Bearing Stablecoin ph\u1ed5 bi\u1ebfn nh\u1ea5t hi\u1ec7n nay<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Stablecoin_duoc_ho_tro_boi_RWA\" >Stablecoin \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi RWA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#eUSD\" >eUSD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#DAI\" >DAI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#USDe\" >USDe<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Uu_va_nhuoc_diem_cua_Yield-Bearing_Stablecoin\" >\u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a Yield-Bearing Stablecoin<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Dinh_nghia_nhu_dong_coin\" >\u0110\u1ecbnh ngh\u0129a nh\u01b0 \u0111\u1ed3ng coin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Tap_%E2%80%8B%E2%80%8Btrung_hoa\" >T\u1eadp \u200b\u200btrung h\u00f3a<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Bien_dong_loi_suat\" >Bi\u1ebfn \u0111\u1ed9ng l\u1ee3i su\u1ea5t<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Thanh_khoan_va_truong_hop_su_dung_han_che\" >Thanh kho\u1ea3n v\u00e0 tr\u01b0\u1eddng h\u1ee3p s\u1eed d\u1ee5ng h\u1ea1n ch\u1ebf<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#Ket_luan\" >K\u1ebft lu\u1eadn<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Yield-Bearing_Stablecoin_la_gi\"><\/span><span style=\"font-weight: 400;\">Yield-Bearing Stablecoin l\u00e0 g\u00ec?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Yield-Bearing Stablecoin<\/b><span style=\"font-weight: 400;\"> l\u00e0 m\u1ed9t lo\u1ea1i \u1ee9ng d\u1ee5ng c\u1ee7a RWA \u0111\u01b0\u1ee3c m\u00e3 h\u00f3a. Ch\u00fang c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e2n lo\u1ea1i th\u00e0nh hai lo\u1ea1i d\u1ef1a tr\u00ean c\u01a1 ch\u1ebf ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn c\u1ee7a ch\u00fang:<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Rebase\"><\/span><span style=\"font-weight: 400;\">Rebase<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.fiahub.com\/blog\/token-rebase-la-gi\/\">Token Rebase<\/a> l\u00e0 nh\u1eefng token c\u00f3 s\u1ed1 d\u01b0 t\u1ef1 \u0111\u1ed9ng \u0111i\u1ec1u ch\u1ec9nh. Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, rebase ph\u00e2n ph\u1ed1i ph\u1ea7n th\u01b0\u1edfng token (l\u00e3i su\u1ea5t t\u00edch l\u0169y) d\u01b0\u1edbi d\u1ea1ng token b\u1ed5 sung. \u0110\u1ed3ng th\u1eddi, t\u00ednh \u1ed5n \u0111\u1ecbnh v\u1ec1 gi\u00e1 (m\u1ee9c neo 1:1 v\u00e0o USD ho\u1eb7c t\u00e0i s\u1ea3n kh\u00e1c) v\u1eabn \u0111\u01b0\u1ee3c duy tr\u00ec.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">C\u00e1c v\u00ed d\u1ee5 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi RWA bao g\u1ed3m USDY (Ondo), BUIDL (BlackRock) v\u00e0 USDM (Mountain Protocol); trong khi eUSD (Lybra) l\u00e0 v\u00ed d\u1ee5 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1eb1ng t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Non-Rebase\"><\/span><span style=\"font-weight: 400;\">Non-Rebase<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Token non-rebase d\u1ef1a tr\u00ean staking\/ph\u00e1i sinh ho\u1eb7c t\u00e0i ch\u00ednh phi t\u1eadp trung (DeFi).<\/span><\/p>\n<figure id=\"attachment_31347\" aria-describedby=\"caption-attachment-31347\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-31347\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14.png\" alt=\"Stablecoin\" width=\"900\" height=\"506\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-14-450x253.png 450w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-31347\" class=\"wp-caption-text\">S\u1ef1 gia t\u0103ng c\u1ee7a c\u00e1c Yield-Bearing Stablecoin v\u00e0o n\u0103m 2024 kh\u00f4ng ch\u1ec9 t\u1ea1o th\u00e0nh c\u1ea7u n\u1ed1i gi\u1eefa TradFi v\u00e0 kh\u00f4ng gian t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 d\u00e0nh cho ng\u01b0\u1eddi b\u1ea3n x\u1ee9 ti\u1ec1n \u0111i\u1ec7n t\u1eed m\u00e0 c\u00f2n m\u1edf ra th\u1ebf gi\u1edbi ti\u1ec1n \u0111i\u1ec7n t\u1eed cho nhi\u1ec1u ng\u01b0\u1eddi d\u00f9ng v\u00e0 s\u1ea3n ph\u1ea9m m\u1edbi.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Cac_loai_Yield\"><\/span><span style=\"font-weight: 400;\">C\u00e1c lo\u1ea1i Yield<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"StakingDerivatives\"><\/span><span style=\"font-weight: 400;\">Staking\/Derivatives<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">L\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c t\u1ea1o ra t\u1eeb vi\u1ec7c staking t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p do ng\u01b0\u1eddi d\u00f9ng k\u00fd qu\u1ef9 (v\u00ed d\u1ee5: ETH) ho\u1eb7c tham gia v\u00e0o ho\u1ea1t \u0111\u1ed9ng ph\u00f2ng ng\u1eeba r\u1ee7i ro ph\u00e1i sinh (v\u00ed d\u1ee5: h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai). V\u00ed d\u1ee5: ng\u01b0\u1eddi d\u00f9ng staking USDe (Ethena) \u0111\u1ec3 nh\u1eadn token \u0111\u00e3 staking (sUSDe) v\u00e0 ph\u1ea7n th\u01b0\u1edfng t\u00edch l\u0169y \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh th\u00f4ng qua vi\u1ec7c t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a sUSDe. Ng\u01b0\u1eddi d\u00f9ng nh\u1eadn \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn khi h\u1ecd h\u1ee7y staking USDe.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cho_vay_DeFi\"><\/span><span style=\"font-weight: 400;\">Cho vay DeFi<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ng\u01b0\u1eddi d\u00f9ng \u0111\u1eb7t t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p tr\u00ean n\u1ec1n t\u1ea3ng v\u00e0 vay d\u1ef1a tr\u00ean t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p \u0111\u00f3, l\u1ee3i nhu\u1eadn \u0111\u1ebfn t\u1eeb t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p c\u01a1 b\u1ea3n v\u00e0 l\u00e3i su\u1ea5t cho vay. V\u00ed d\u1ee5: DAI (Dai), GHO (GHO) v\u00e0 crvUSD (Curve).<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cac_loai_Yield-Bearing_Stablecoin_pho_bien_nhat_hien_nay\"><\/span><span style=\"font-weight: 400;\">C\u00e1c lo\u1ea1i Yield-Bearing Stablecoin ph\u1ed5 bi\u1ebfn nh\u1ea5t hi\u1ec7n nay<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">C\u00e1c b\u00ean tham gia ch\u00ednh trong kh\u00f4ng gian <a href=\"https:\/\/www.fiahub.com\/blog\/stablecoin-la-gi-uu-diem-va-nhuoc-diem-cua-stablecoin\/\">stablecoin<\/a> c\u00f3 l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c li\u1ec7t k\u00ea trong danh s\u00e1ch b\u00ean d\u01b0\u1edbi. T\u1ea1i \u0111\u00e2y, ch\u00fang t\u00f4i n\u00eau b\u1eadt m\u1ed9t s\u1ed1 c\u01a1 ch\u1ebf m\u00e0 l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c t\u00edch l\u0169y cho c\u00e1c b\u00ean tham gia stablecoin \u0111\u00e3 ch\u1ecdn.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Stablecoin_duoc_ho_tro_boi_RWA\"><\/span><span style=\"font-weight: 400;\">Stablecoin \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi RWA<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">\u0110\u1ed1i v\u1edbi c\u00e1c b\u00ean tham gia \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi RWA n\u00e0y, l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c t\u1ea1o ra th\u00f4ng qua t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p c\u01a1 b\u1ea3n (v\u00ed d\u1ee5: tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3). Qu\u1ef9 BUIDL c\u1ee7a BlackRock, USDY (mUSD) v\u00e0 USDM (Mountain Protocol) l\u00e0 ba v\u00ed d\u1ee5 ph\u1ed5 bi\u1ebfn, trong \u0111\u00f3 c\u00e1c nh\u00e0 giao d\u1ecbch nh\u1eadn \u0111\u01b0\u1ee3c l\u00e3i su\u1ea5t t\u00edch l\u0169y th\u00f4ng qua c\u00e1c token b\u1ed5 sung \u0111\u01b0\u1ee3c th\u1ea3 tr\u1ef1c ti\u1ebfp v\u00e0o v\u00ed c\u1ee7a h\u1ecd. C\u00e1c k\u1ef3 ph\u00e2n ph\u1ed1i c\u00f3 th\u1ec3 kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o b\u00ean ph\u00e1t h\u00e0nh stablecoin; v\u00ed d\u1ee5, USDY v\u00e0 \u200b\u200bUSDM l\u00e0 h\u00e0ng ng\u00e0y v\u00e0 BUIDL l\u00e0 h\u00e0ng th\u00e1ng.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">V\u00ed d\u1ee5, gi\u1ea3 s\u1eed m\u1ed9t ng\u01b0\u1eddi d\u00f9ng n\u1eafm gi\u1eef 100 USDM v\u00e0 Mountain Protocol \u0111ang tr\u1ea3 APY l\u00e0 5%. C\u00e1c token USDM m\u1edbi \u0111\u01b0\u1ee3c t\u1ef1 \u0111\u1ed9ng ph\u00e2n ph\u1ed1i v\u00e0o v\u00ed c\u1ee7a ng\u01b0\u1eddi d\u00f9ng m\u1ed7i ng\u00e0y, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi t\u1ed5ng c\u1ed9ng 105 USDM sau m\u1ed9t n\u0103m.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"eUSD\"><\/span><span style=\"font-weight: 400;\">eUSD<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">V\u1edbi eUSD (Lybra), c\u00e1c nh\u00e0 giao d\u1ecbch g\u1eedi ETH ho\u1eb7c m\u1ed9t token staking thanh kho\u1ea3n \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn kh\u00e1c (LST) &#8211; v\u00ed d\u1ee5: stETH ho\u1eb7c rETH &#8211; v\u00e0o Lybra l\u00e0m t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p. Theo th\u1eddi gian, c\u00e1c LST s\u1ebd t\u00edch l\u0169y l\u1ee3i su\u1ea5t c\u01a1 s\u1edf, \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh eUSD. C\u00e1c nh\u00e0 giao d\u1ecbch \u0111\u01b0\u1ee3c ph\u00e2n ph\u1ed1i m\u1ed9t ph\u1ea7n t\u1ed5ng s\u1ed1 ti\u1ec1n thu \u0111\u01b0\u1ee3c t\u1eeb eUSD d\u01b0\u1edbi d\u1ea1ng l\u00e3i su\u1ea5t h\u00e0ng ng\u00e0y, \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1edfi APR LST, t\u1ef7 l\u1ec7 cung v\u00e0 th\u1ebf ch\u1ea5p eUSD&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u0110\u1ed3ng th\u1eddi, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 vay eUSD b\u1eb1ng t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p v\u1edbi l\u00e3i su\u1ea5t b\u1eb1ng 0 v\u00e0 gi\u1eef l\u1ea1i, s\u1eed d\u1ee5ng \u0111\u1ec3 mua ETH ho\u1eb7c s\u1eed d\u1ee5ng trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng DeFi kh\u00e1c \u0111\u1ec3 ki\u1ebfm th\u00eam l\u1ee3i nhu\u1eadn. L\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c t\u00edch l\u0169y t\u1ef1 \u0111\u1ed9ng mi\u1ec5n l\u00e0 c\u00e1c nh\u00e0 giao d\u1ecbch n\u1eafm gi\u1eef eUSD.<\/span><\/p>\n<figure id=\"attachment_31348\" aria-describedby=\"caption-attachment-31348\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-31348\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15.png\" alt=\"eUSD\" width=\"900\" height=\"500\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15.png 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-300x167.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-1024x569.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-150x83.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-768x427.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-1536x853.png 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-450x250.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-15-1200x667.png 1200w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-31348\" class=\"wp-caption-text\">\u1edbi eUSD (Lybra), c\u00e1c nh\u00e0 giao d\u1ecbch g\u1eedi ETH ho\u1eb7c m\u1ed9t token staking thanh kho\u1ea3n \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn kh\u00e1c (LST) &#8211; v\u00ed d\u1ee5: stETH ho\u1eb7c rETH &#8211; v\u00e0o Lybra l\u00e0m t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p.<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"DAI\"><\/span><span style=\"font-weight: 400;\">DAI<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">L\u00e0 v\u00ed d\u1ee5 l\u00e2u \u0111\u1eddi nh\u1ea5t v\u1ec1 m\u1ed9t lo\u1ea1i stablecoin c\u00f3 l\u1ee3i su\u1ea5t, DAI \u0111\u01b0\u1ee3c th\u1ebf ch\u1ea5p qu\u00e1 m\u1ee9c b\u1eb1ng c\u00e1c kho\u1ea3n n\u1eafm gi\u1eef t\u1eeb <a href=\"https:\/\/www.fiahub.com\/blog\/maker-dao-dai-la-gi-tat-tan-ve-maker-dao-dai\/\">MakerDAO<\/a>, bao g\u1ed3m ETH, USDC v\u00e0 RWA nh\u01b0 Kho b\u1ea1c Hoa K\u1ef3. MakerDAO t\u1ea1o ra ph\u00ed \u1ed5n \u0111\u1ecbnh t\u1eeb c\u00e1c kho\u1ea3n n\u1eafm gi\u1eef c\u1ee7a m\u00ecnh, c\u0169ng nh\u01b0 l\u00e3i su\u1ea5t t\u1eeb \u200b\u200bho\u1ea1t \u0111\u1ed9ng cho vay \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1eb1ng ti\u1ec1n \u0111i\u1ec7n t\u1eed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ng\u01b0\u1eddi n\u1eafm gi\u1eef DAI kh\u00f4ng t\u1ef1 \u0111\u1ed9ng ki\u1ebfm \u0111\u01b0\u1ee3c T\u1ef7 l\u1ec7 ti\u1ebft ki\u1ec7m Dai (DSR), m\u00e0 ph\u1ea3i g\u1eedi DAI v\u00e0o h\u1ec7 th\u1ed1ng Giao th\u1ee9c Maker \u0111\u1ec3 nh\u1eadn sDAI, trong \u0111\u00f3 gi\u00e1 tr\u1ecb c\u1ee7a sDAI t\u0103ng l\u00ean \u0111\u1ec3 ph\u1ea3n \u00e1nh s\u1ef1 t\u00edch l\u0169y l\u1ee3i nhu\u1eadn. \u0110i\u1ec1u n\u00e0y kh\u00e1c v\u1edbi vi\u1ec7c c\u01a1 s\u1edf h\u00f3a token, trong \u0111\u00f3 l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c t\u1ef1 \u0111\u1ed9ng t\u00edch l\u0169y trong v\u00ed c\u1ee7a ng\u01b0\u1eddi giao d\u1ecbch m\u00e0 kh\u00f4ng c\u1ea7n th\u1ef1c hi\u1ec7n th\u00eam h\u00e0nh \u0111\u1ed9ng n\u00e0o v\u00e0 gi\u00e1 tr\u1ecb \u0111\u1ed3ng ti\u1ec1n v\u1eabn \u1ed5n \u0111\u1ecbnh.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"USDe\"><\/span><span style=\"font-weight: 400;\">USDe<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ethena l\u00e0 m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi ch\u01a1i m\u1edbi nh\u1ea5t trong l\u0129nh v\u1ef1c stablecoin mang l\u1ea1i l\u1ee3i nhu\u1eadn, \u0111\u00e3 gi\u1edbi thi\u1ec7u m\u1ed9t c\u00e1ch m\u1edbi \u0111\u1ec3 t\u1ea1o ra l\u1ee3i nhu\u1eadn th\u00f4ng qua s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa LST v\u00e0 ph\u00f2ng ng\u1eeba delta. Ng\u01b0\u1eddi giao d\u1ecbch g\u1eedi ETH, LST ho\u1eb7c USDT l\u00e0m t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c USDe, sau \u0111\u00f3 &#8211; t\u01b0\u01a1ng t\u1ef1 nh\u01b0 DAI\/sDAI &#8211; ng\u01b0\u1eddi n\u1eafm gi\u1eef USDe c\u1ea7n \u0111\u1eb7t c\u1ecdc USDe \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c sUSDe \u0111\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">L\u1ee3i nhu\u1eadn kh\u00f4ng \u0111\u01b0\u1ee3c tr\u1ea3 tr\u1ef1c ti\u1ebfp; thay v\u00e0o \u0111\u00f3, n\u00f3 t\u00edch l\u0169y trong h\u1ee3p \u0111\u1ed3ng \u0111\u1eb7t c\u1ecdc v\u00e0 \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh trong s\u1ef1 gia t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a sUSDe. Ng\u01b0\u1eddi giao d\u1ecbch ch\u1ec9 c\u00f3 th\u1ec3 m\u1edf kh\u00f3a l\u1ee3i nhu\u1eadn \u0111\u00e3 t\u00edch l\u0169y khi h\u1ecd h\u1ee7y \u0111\u1eb7t c\u1ecdc USDe c\u1ee7a m\u00ecnh.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Uu_va_nhuoc_diem_cua_Yield-Bearing_Stablecoin\"><\/span><span style=\"font-weight: 400;\">\u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a Yield-Bearing Stablecoin<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stablecoin sinh l\u1eddi l\u00e0 m\u1ed9t \u1ee9ng d\u1ee5ng quan tr\u1ecdng c\u1ee7a RWA, k\u1ebft n\u1ed1i th\u1ebf gi\u1edbi TradFi v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed. Ch\u00fang cung c\u1ea5p t\u00f9y ch\u1ecdn ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb t\u00e0i s\u1ea3n tr\u00fa \u1ea9n an to\u00e0n \u0111\u1ed3ng th\u1eddi m\u1edf ra c\u00e1nh c\u1ed5ng cho c\u00e1c t\u1ed5 ch\u1ee9c TradFi tham gia v\u00e0o vi\u1ec7c \u00e1p d\u1ee5ng ti\u1ec1n \u0111i\u1ec7n t\u1eed, b\u1eaft \u0111\u1ea7u v\u1edbi t\u00e0i s\u1ea3n \u00edt bi\u1ebfn \u0111\u1ed9ng nh\u1ea5t c\u1ee7a ti\u1ec1n \u0111i\u1ec7n t\u1eed &#8211; stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tuy nhi\u00ean, Yield-Bearing Stablecoin c\u0169ng b\u1ecb nh\u1eadn \u0111\u01b0\u1ee3c nhi\u1ec1u l\u1eddi ch\u1ec9 tr\u00edch:<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dinh_nghia_nhu_dong_coin\"><\/span><span style=\"font-weight: 400;\">\u0110\u1ecbnh ngh\u0129a nh\u01b0 \u0111\u1ed3ng coin<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">M\u1ed9t trong nh\u1eefng m\u1ee5c \u0111\u00edch c\u1ed1t l\u00f5i c\u1ee7a stablecoin l\u00e0 tr\u1edf th\u00e0nh ph\u01b0\u01a1ng ti\u1ec7n trao \u0111\u1ed5i hi\u1ec7u qu\u1ea3 v\u1ec1 v\u1ed1n. B\u1eb1ng c\u00e1ch cho ph\u00e9p \u0111\u1eb7t c\u1ecdc stablecoin v\u00e0 kh\u00f3a \u0111\u1ec3 l\u1ea5y l\u1ee3i nhu\u1eadn, m\u1ee5c \u0111\u00edch c\u1ee7a n\u00f3 tr\u1edf n\u00ean ph\u1ee9c t\u1ea1p h\u01a1n.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tap_%E2%80%8B%E2%80%8Btrung_hoa\"><\/span><span style=\"font-weight: 400;\">T\u1eadp \u200b\u200btrung h\u00f3a<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">S\u1eed d\u1ee5ng tr\u00e1i phi\u1ebfu kho b\u1ea1c ho\u1eb7c ch\u1ee9ng kho\u00e1n l\u00e0m t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t h\u00ecnh th\u1ee9c t\u1eadp trung h\u00f3a; c\u1ee5 th\u1ec3 l\u00e0, nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 v\u1ec1 stablecoin l\u00e0 USDT v\u00e0 USDC c\u0169ng \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c nh\u1eefng l\u1eddi ch\u1ec9 tr\u00edch t\u01b0\u01a1ng t\u1ef1. Ngay c\u1ea3 \u0111\u1ed1i v\u1edbi c\u00e1c stablecoin t\u1ef1 nh\u1eadn l\u00e0 phi t\u1eadp trung &#8211; v\u00ed d\u1ee5 nh\u01b0 Ethena &#8211; th\u00ec vi\u1ec7c t\u1eadn d\u1ee5ng c\u00e1c s\u00e0n giao d\u1ecbch t\u1eadp trung \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro cho c\u00e1c t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c \u0111\u1eb7t c\u1ecdc v\u1eabn x\u1ea3y ra.<\/span><\/p>\n<figure id=\"attachment_31349\" aria-describedby=\"caption-attachment-31349\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-31349\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9.jpg\" alt=\"stablecoin\" width=\"900\" height=\"630\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9.jpg 1600w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-300x210.jpg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-1024x717.jpg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-150x105.jpg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-768x538.jpg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-1536x1075.jpg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-450x315.jpg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/a1-9-1200x840.jpg 1200w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-31349\" class=\"wp-caption-text\">M\u1ed9t trong nh\u1eefng m\u1ee5c \u0111\u00edch c\u1ed1t l\u00f5i c\u1ee7a stablecoin l\u00e0 tr\u1edf th\u00e0nh ph\u01b0\u01a1ng ti\u1ec7n trao \u0111\u1ed5i hi\u1ec7u qu\u1ea3 v\u1ec1 v\u1ed1n.<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Bien_dong_loi_suat\"><\/span><span style=\"font-weight: 400;\">Bi\u1ebfn \u0111\u1ed9ng l\u1ee3i su\u1ea5t<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">L\u1ee3i su\u1ea5t dao \u0111\u1ed9ng &#8211; l\u1ee3i su\u1ea5t d\u1ef1a tr\u00ean <a href=\"https:\/\/www.fiahub.com\/blog\/rwa-la-gi-top-5-du-an-rwa-tiem-nang-nhat-hien-nay\/#:~:text=RWA%20(Real%20World%20Assets)%20\u0111\u1ec1,trong%20c\u00e1c%20giao%20th\u1ee9c%20DeFi.\">RWA<\/a> c\u00f3 kh\u1ea3 n\u0103ng gi\u1ea3m theo l\u00e3i su\u1ea5t (d\u1ef1 ki\u1ebfn \u200b\u200bs\u1ebd c\u00f3 \u0111i\u1ec1u ch\u1ec9nh v\u00e0o cu\u1ed1i n\u0103m 2024). T\u1ef7 l\u1ec7 ti\u1ebft ki\u1ec7m c\u1ee7a DAI tr\u01b0\u1edbc \u0111\u00e2y \u0111\u00e3 dao \u0111\u1ed9ng, t\u1eeb 8% \u0111\u1ebfn 5% v\u00e0 g\u1ea7n \u0111\u00e2y nh\u1ea5t \u0111\u00e3 t\u0103ng l\u00ean t\u1edbi 15%. L\u1ee3i su\u1ea5t c\u1ee7a Ethena c\u0169ng dao \u0111\u1ed9ng d\u1ef1a tr\u00ean t\u1ef7 l\u1ec7 t\u00e0i tr\u1ee3. Tr\u00ean th\u1ef1c t\u1ebf, trong tr\u01b0\u1eddng h\u1ee3p t\u1ef7 l\u1ec7 t\u00e0i tr\u1ee3 \u00e2m (th\u01b0\u1eddng li\u00ean quan \u0111\u1ebfn t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng gi\u1ea3m gi\u00e1), l\u1ee3i su\u1ea5t c\u1ee7a Ethena d\u1ef1 ki\u1ebfn \u200b\u200bs\u1ebd gi\u1ea3m.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thanh_khoan_va_truong_hop_su_dung_han_che\"><\/span><span style=\"font-weight: 400;\">Thanh kho\u1ea3n v\u00e0 tr\u01b0\u1eddng h\u1ee3p s\u1eed d\u1ee5ng h\u1ea1n ch\u1ebf<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ng\u00e0y c\u00e0ng c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi ch\u01a1i tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng stablecoin, nh\u01b0ng l\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a nh\u1eefng ng\u01b0\u1eddi ch\u01a1i n\u00e0y v\u1eabn c\u00f2n h\u1ea1n ch\u1ebf (ch\u1ec9 c\u00f3 m\u1ed9t s\u1ef1 kh\u00e1c bi\u1ec7t nh\u1ecf v\u1ec1 h\u1ed7 tr\u1ee3 t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p, cung c\u1ea5p l\u1ee3i su\u1ea5t\u2026). Nh\u1eefng ng\u01b0\u1eddi ch\u01a1i m\u1edbi n\u00e0y th\u01b0\u1eddng nh\u1ecf, m\u1ed7i ng\u01b0\u1eddi ch\u01a1i \u0111\u1ec1u c\u00f3 thanh kho\u1ea3n v\u00e0 tr\u01b0\u1eddng h\u1ee3p s\u1eed d\u1ee5ng h\u1ea1n ch\u1ebf cho stablecoin c\u1ee7a h\u1ecd, \u0111i\u1ec1u n\u00e0y c\u00f3 kh\u1ea3 n\u0103ng l\u00e0m gi\u1ea3m s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><span style=\"font-weight: 400;\">K\u1ebft lu\u1eadn<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">S\u1ef1 gia t\u0103ng c\u1ee7a c\u00e1c Yield-Bearing Stablecoin v\u00e0o n\u0103m 2024 kh\u00f4ng ch\u1ec9 t\u1ea1o th\u00e0nh c\u1ea7u n\u1ed1i gi\u1eefa TradFi v\u00e0 kh\u00f4ng gian t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 d\u00e0nh cho ng\u01b0\u1eddi b\u1ea3n x\u1ee9 ti\u1ec1n \u0111i\u1ec7n t\u1eed m\u00e0 c\u00f2n m\u1edf ra th\u1ebf gi\u1edbi ti\u1ec1n \u0111i\u1ec7n t\u1eed cho nhi\u1ec1u ng\u01b0\u1eddi d\u00f9ng v\u00e0 s\u1ea3n ph\u1ea9m m\u1edbi.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nhi\u1ec1u t\u1ed5 ch\u1ee9c \u0111\u00e3 th\u1ef1c hi\u1ec7n nh\u1eefng b\u01b0\u1edbc \u0111\u1ea7u ti\u00ean \u0111\u1ec3 tham gia v\u00e0o xu h\u01b0\u1edbng m\u00e3 h\u00f3a \u0111\u1ec3 t\u00ecm ki\u1ebfm c\u01a1 h\u1ed9i m\u1edbi cho l\u1ee3i nhu\u1eadn (v\u00ed d\u1ee5: BUIDL g\u1ea7n \u0111\u00e2y c\u1ee7a BlackRock).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">M\u1eb7c d\u00f9 v\u1eabn c\u00f2n nh\u1eefng h\u1ea1n ch\u1ebf v\u1ec1 c\u01a1 s\u1edf nh\u00e0 \u0111\u1ea7u t\u01b0, ph\u1ea1m vi v\u00e0 kh\u1ea3 n\u0103ng chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ee7a c\u00e1c m\u00e3 th\u00f4ng b\u00e1o n\u00e0y, ch\u00fang t\u00f4i tin r\u1eb1ng m\u1ee5c ti\u00eau r\u1ea5t r\u00f5 r\u00e0ng &#8211; thu h\u00fat th\u00eam nhi\u1ec1u t\u00e0i s\u1ea3n, ng\u01b0\u1eddi d\u00f9ng v\u00e0 hi\u1ec7u qu\u1ea3 h\u01a1n. Ch\u00fang ta h\u00e3y c\u00f9ng hy v\u1ecdng s\u1ebd th\u1ea5y s\u1ef1 t\u0103ng tr\u01b0\u1edfng li\u00ean t\u1ee5c v\u00e0 c\u00e1c s\u1ea3n ph\u1ea9m m\u1edbi \u0111\u1ec3 \u0111\u00e1p \u1ee9ng c\u00e1c nhu c\u1ea7u kh\u00e1c nhau c\u1ee7a ng\u01b0\u1eddi d\u00f9ng &#8211; v\u00ed d\u1ee5 nh\u01b0 c\u00e1c s\u1ea3n ph\u1ea9m t\u00edn d\u1ee5ng ho\u1eb7c c\u1ed5 phi\u1ebfu c\u00f3 l\u1ee3i nhu\u1eadn cao h\u01a1n.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">C\u1ea3m \u01a1n s\u1ef1 theo d\u00f5i v\u00e0 \u0111\u00f3n \u0111\u1ecdc c\u1ee7a c\u00e1c b\u1ea1n. Hy v\u1ecdng b\u00e0i vi\u1ebft \u0111\u00e3 gi\u00fap m\u1ecdi ng\u01b0\u1eddi hi\u1ec3u h\u01a1n v\u1ec1 Yield-Bearing Stablecoin v\u00e0 nh\u1eefng \u01b0u nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a lo\u1ea1i h\u00ecnh n\u00e0y. \u0110\u1eebng qu\u00ean, m\u1ecdi th\u1eafc m\u1eafc v\u1ec1 th\u1ecb tr\u01b0\u1eddng ti\u1ec1n k\u1ef9 thu\u1eadt s\u1ed1 vui l\u00f2ng li\u00ean h\u1ec7 \u0111\u1ed9i ng\u0169 Support c\u1ee7a Fiahub 24\/7.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yield-Bearing Stablecoin l\u00e0 g\u00ec? Yield-Bearing Stablecoin l\u00e0 m\u1ed9t lo\u1ea1i \u1ee9ng d\u1ee5ng c\u1ee7a RWA \u0111\u01b0\u1ee3c m\u00e3 h\u00f3a. Ch\u00fang c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e2n lo\u1ea1i th\u00e0nh hai lo\u1ea1i d\u1ef1a tr\u00ean c\u01a1 ch\u1ebf ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn c\u1ee7a ch\u00fang: Rebase Token Rebase l\u00e0 nh\u1eefng token c\u00f3 s\u1ed1 d\u01b0 t\u1ef1 \u0111\u1ed9ng \u0111i\u1ec1u ch\u1ec9nh. Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, rebase ph\u00e2n ph\u1ed1i<\/p>\n","protected":false},"author":24,"featured_media":31346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21850],"tags":[3312,7936],"class_list":{"0":"post-31345","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tu-dien-crypto","8":"tag-stablecoin","9":"tag-yield-farming"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0 - Fiahub<\/title>\n<meta name=\"description\" content=\"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0\" \/>\n<meta property=\"og:description\" content=\"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\" \/>\n<meta property=\"og:site_name\" content=\"Fiahub Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FiahubVN\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-21T08:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Le Hoang\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FIAHUBVN\" \/>\n<meta name=\"twitter:site\" content=\"@FIAHUBVN\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Le Hoang\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\"},\"author\":{\"name\":\"Le Hoang\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/438ca2054bd04d8ef374b9dd54ed3418\"},\"headline\":\"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0\",\"datePublished\":\"2025-05-21T08:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\"},\"wordCount\":2482,\"publisher\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png\",\"keywords\":[\"STABLECOIN\",\"Yield Farming\"],\"articleSection\":[\"T\u1eeb \u0111i\u1ec3n Crypto\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\",\"url\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\",\"name\":\"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0 - Fiahub\",\"isPartOf\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png\",\"datePublished\":\"2025-05-21T08:00:12+00:00\",\"description\":\"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage\",\"url\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png\",\"contentUrl\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png\",\"width\":1024,\"height\":576,\"caption\":\"Yield-Bearing Stablecoin l\u00e0 m\u1ed9t \u1ee9ng d\u1ee5ng quan tr\u1ecdng c\u1ee7a RWA, k\u1ebft n\u1ed1i th\u1ebf gi\u1edbi TradFi v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fiahub.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#website\",\"url\":\"https:\/\/www.fiahub.com\/blog\/\",\"name\":\"Fiahub Blog\",\"description\":\"Fiahub Blog\",\"publisher\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fiahub.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#organization\",\"name\":\"DIGITEX Pte Ltd\",\"url\":\"https:\/\/www.fiahub.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg\",\"contentUrl\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg\",\"width\":956,\"height\":500,\"caption\":\"DIGITEX Pte Ltd\"},\"image\":{\"@id\":\"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/FiahubVN\/\",\"https:\/\/x.com\/FIAHUBVN\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/438ca2054bd04d8ef374b9dd54ed3418\",\"name\":\"Le Hoang\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/Le-Hoang.jpg\",\"contentUrl\":\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/Le-Hoang.jpg\",\"caption\":\"Le Hoang\"},\"description\":\"Freelancer Marketing v\u00e0 Content Creator v\u1edbi g\u1ea7n 10 n\u0103m kinh nghi\u1ec7m; trong \u0111\u00f3 c\u00f3 kho\u1ea3ng h\u01a1n 3 n\u0103m l\u00e0m vi\u1ec7c trong m\u1ea3ng Blockchain v\u1edbi vai tr\u00f2 D\u1ecbch Thu\u1eadt v\u00e0 Copywriter. V\u1edbi ki\u1ebfn th\u1ee9c s\u00e2u r\u1ed9ng c\u00f9ng kh\u1ea3 n\u0103ng di\u1ec5n gi\u1ea3i \u0111\u1ec3 nh\u1eefng thu\u1eadt ng\u1eef c\u00f4ng ngh\u1ec7 kh\u00f3 hi\u1ec3u tr\u1edf n\u00ean g\u1ea7n g\u0169i h\u01a1n v\u1edbi ng\u01b0\u1eddi \u0111\u1ecdc. L\u00ea Ho\u00e0ng \u0111\u1ea3m nhi\u1ec7m nh\u1eefng b\u00e0i vi\u1ebft trong chuy\u00ean m\u1ee5c \\\"T\u1eeb \u0110i\u1ec3n Crypto\\\" v\u00e0 \\\"H\u01b0\u1edbng D\u1eabn Ng\u01b0\u1eddi M\u1edbi\\\" t\u1ea1i Fiahub Blog\",\"url\":\"https:\/\/www.fiahub.com\/blog\/author\/le-hoang\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0 - Fiahub","description":"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/","og_locale":"en_US","og_type":"article","og_title":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0","og_description":"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.","og_url":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/","og_site_name":"Fiahub Blog","article_publisher":"https:\/\/www.facebook.com\/FiahubVN\/","article_published_time":"2025-05-21T08:00:12+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png","type":"image\/png"}],"author":"Le Hoang","twitter_card":"summary_large_image","twitter_creator":"@FIAHUBVN","twitter_site":"@FIAHUBVN","twitter_misc":{"Written by":"Le Hoang","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#article","isPartOf":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/"},"author":{"name":"Le Hoang","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/438ca2054bd04d8ef374b9dd54ed3418"},"headline":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0","datePublished":"2025-05-21T08:00:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/"},"wordCount":2482,"publisher":{"@id":"https:\/\/www.fiahub.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png","keywords":["STABLECOIN","Yield Farming"],"articleSection":["T\u1eeb \u0111i\u1ec3n Crypto"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/","url":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/","name":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0 - Fiahub","isPartOf":{"@id":"https:\/\/www.fiahub.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png","datePublished":"2025-05-21T08:00:12+00:00","description":"Trong b\u00e0i vi\u1ebft n\u00e0y ch\u00fang ta s\u1ebd c\u00f9ng t\u00ecm hi\u1ec3u kh\u00e1i ni\u1ec7m v\u00e0 \u1ee9ng d\u1ee5ng c\u1ee7a Yield-Bearing Stablecoin.","breadcrumb":{"@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#primaryimage","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/04\/Fiahub_Glossary_Yield-Bearing-Stablecoin.png","width":1024,"height":576,"caption":"Yield-Bearing Stablecoin l\u00e0 m\u1ed9t \u1ee9ng d\u1ee5ng quan tr\u1ecdng c\u1ee7a RWA, k\u1ebft n\u1ed1i th\u1ebf gi\u1edbi TradFi v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed."},{"@type":"BreadcrumbList","@id":"https:\/\/www.fiahub.com\/blog\/yield-bearing-stablecoin-la-gi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.fiahub.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Yield-Bearing Stablecoin l\u00e0 g\u00ec?\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/www.fiahub.com\/blog\/#website","url":"https:\/\/www.fiahub.com\/blog\/","name":"Fiahub Blog","description":"Fiahub Blog","publisher":{"@id":"https:\/\/www.fiahub.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fiahub.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fiahub.com\/blog\/#organization","name":"DIGITEX Pte Ltd","url":"https:\/\/www.fiahub.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg","width":956,"height":500,"caption":"DIGITEX Pte Ltd"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/FiahubVN\/","https:\/\/x.com\/FIAHUBVN"]},{"@type":"Person","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/438ca2054bd04d8ef374b9dd54ed3418","name":"Le Hoang","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/Le-Hoang.jpg","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/Le-Hoang.jpg","caption":"Le Hoang"},"description":"Freelancer Marketing v\u00e0 Content Creator v\u1edbi g\u1ea7n 10 n\u0103m kinh nghi\u1ec7m; trong \u0111\u00f3 c\u00f3 kho\u1ea3ng h\u01a1n 3 n\u0103m l\u00e0m vi\u1ec7c trong m\u1ea3ng Blockchain v\u1edbi vai tr\u00f2 D\u1ecbch Thu\u1eadt v\u00e0 Copywriter. V\u1edbi ki\u1ebfn th\u1ee9c s\u00e2u r\u1ed9ng c\u00f9ng kh\u1ea3 n\u0103ng di\u1ec5n gi\u1ea3i \u0111\u1ec3 nh\u1eefng thu\u1eadt ng\u1eef c\u00f4ng ngh\u1ec7 kh\u00f3 hi\u1ec3u tr\u1edf n\u00ean g\u1ea7n g\u0169i h\u01a1n v\u1edbi ng\u01b0\u1eddi \u0111\u1ecdc. L\u00ea Ho\u00e0ng \u0111\u1ea3m nhi\u1ec7m nh\u1eefng b\u00e0i vi\u1ebft trong chuy\u00ean m\u1ee5c \"T\u1eeb \u0110i\u1ec3n Crypto\" v\u00e0 \"H\u01b0\u1edbng D\u1eabn Ng\u01b0\u1eddi M\u1edbi\" t\u1ea1i Fiahub Blog","url":"https:\/\/www.fiahub.com\/blog\/author\/le-hoang\/"}]}},"_links":{"self":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/31345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/comments?post=31345"}],"version-history":[{"count":2,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/31345\/revisions"}],"predecessor-version":[{"id":31850,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/31345\/revisions\/31850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/media\/31346"}],"wp:attachment":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/media?parent=31345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/categories?post=31345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/tags?post=31345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}