Tsanin Kasuwar Tokens DeFi: Uniswap, Aave, da Curve

A cikin duniyar da ke canzawa na kudi na rarrabawa (DeFi), wasu sassa sun ja hankalin masu zuba jari da masu kirkira kamar yadda DeFi tokens suka yi. Yayin da muke tafiya cikin 2025, tare da kasuwar cryptocurrency ta duniya tana nuna sabuwar karfi a cikin bayyana dokoki da karɓar hukumomi, tokens kamar Uniswap (UNI), Aave (AAVE), da Curve (CRV) suna fitowa a matsayin ginshiƙai na wannan tsarin. Wannan token ba kawai suna wakiltar sabbin hanyoyin aiki ba, har ma suna bayyana canjin zuwa tsarin kudi mai inganci, wanda ya fi zama na kowa da kowa da kuma rarraba. Wannan labarin ya zurfafa cikin yanayin kasuwa da ke kewaye da waɗannan token, yana bincika yadda suka yi a tarihi, halin yanzu, hasashen nan gaba, da yadda dandamali kamar Exbix ke sa su zama masu sauƙin samu ga masu amfani na yau da kullum. Ko da kuwa ko ka kasuwa mai kwarewa ko sabo, fahimtar waɗannan al'adu na iya taimaka maka yanke shawara mai kyau a kasuwa da ake tsammanin za ta ga jimlar ƙimar DeFi da aka kulle (TVL) ta wuce dala biliyan 200 kafin ƙarshen shekara.

DeFi, gajeren suna na Kuɗin Daidaitacce, yana nufin tarin sabis na kuɗi da aka gina akan fasahar blockchain, yana kawar da masu tsaka-tsaki kamar bankuna. It ya ƙunshi bayar da rance, aro, ciniki, da noma amfanin, duk suna samun karfi daga kwangiloli masu hankali. Uniswap, Aave, da Curve suna daga cikin manyan tsarin a wannan fannin, kowanne yana magance takamaiman matsaloli: Uniswap yana juyawa kasuwannin musayar da ba su da tsari (DEXs), Aave yana jagorantar bayar da rance da aro, yayin da Curve ke inganta musayar stablecoin. A watan Agusta 2025, kasuwar DeFi tana kusan $98.4 biliyan, sama 38% daga shekarar da ta gabata, tare da waɗannan token guda uku suna ba da gudummawa sosai. Amma menene ke motsa waɗannan yanayin? Mu duba, farawa da babban hangen nesa kafin mu zurfafa cikin kowanne token.

Fannin Kasuwar DeFi a 2025

2025 shekara ce mai muhimmanci ga DeFi. Bayan tashin hankali na 2024, inda rashin tabbas na doka da gyare-gyaren kasuwa gwada juri na sashen, mun ga karuwar da aka jawo ta hanyar wasu muhimman abubuwa. Na farko, sha'awar hukumomi ta tashi sosai. Kamfanoni kamar BlackRock da Fidelity sun haɗa abubuwan DeFi a cikin fayilolinsu, suna ƙara ruwa da amincewa. Na biyu, ci gaban fasaha, kamar hanyoyin haɓaka layer-2 a kan Ethereum (inda yawancin DeFi ke aiki), sun rage farashin gas da ing at $6.50, AAVE at $80, and CRV at $1.20.

Wannan ci gaba yana nuna yadda DeFi ke kara samun karbuwa a kasuwa, tare da sabbin hanyoyin da ke ba da damar masu amfani suyi hulɗa da tsarin cikin sauƙi.

kimanin $9.69, AAVE a kan $315.15, da CRV a kusan $0.62—yana nuna haɗin gwiwar ra'ayin kasuwa mai kyau da kuma dawo da hankali. Alamu sun haɗa da haɓakar haɗin kai na kadarorin duniya (RWAs), inda aka ba da lamuni ta hanyar Aave tare da kadarorin da aka tokenized ko bonda, da kuma haɗin gwiwar tsarukan, wanda ke ba da damar Uniswap ya faɗaɗa zuwa waje da Ethereum.

Duk da haka, kalubale na ci gaba. Keta tsaro, ko da yake sun ragu da kashi 20% daga 2024, har yanzu suna da tasiri, tare da fashe-fashe suna kashe $500 miliyan a wannan shekarar kadai. Hanyoyin tsari, kamar aikin Crypto na SEC, sun bayar da bayani, suna juya ra'ayi zuwa mai kyau ga alamomin kamar UNI, AAVE, da CRV. Manyan masu saka jari da hukumomi suna tara, kamar yadda aka gani a cikin bayanan kan-chain da ke nuna karuwar yawan ciniki: yawan cinikin AAVE na awanni 24 ya kai $431 miliyan, UNI na $135 miliyan, da CRV a $58 miliyan. Wannan tarin yana nuna amincewa, musamman ma yayin da ribar DeFi ke kaiwa 5-15%, wanda ya fi na ajiya na gargajiya.

Ga masu amfani da ke neman shiga, dandamali kamar Exbix suna ba da hanyoyin shiga masu sauƙi. Kuna iya bincika cinikin waɗannan alamomin a babban dandamali—ziyarci Exbix don farawa—ko kuma ku ƙara yawan ribar ta dawo ta hanyar shirin staking. Don stake ɗin token ɗin ku na DeFi da samun kuɗin shiga na wucin gadi, duba Exbix Staking, inda za ku sami ribar gasa.

Uniswap (UNI): Hanyar Kasuwar Sarki na DEX

Uniswap, wanda Hayden Adams ya kaddamar a 2018, ya kawo sauyi ga tsarin tsakiya musayar kasuwa tare da tsarin mai ƙirƙirar kasuwa na atomatik (AMM). UNI, alamar mulkin ta da aka gabatar a 2020, tana ba masu riƙe damar kada kuri'a kan sabuntawar tsarin, tsarin kuɗi, da rarraba kuɗaɗen ajiyar. A 2025, abubuwan da suka shafi Uniswap suna da tasiri daga sabuntawar V4, wanda ya gabatar da hooks don rukunin ruwa masu daidaitawa, yana ƙara inganci da jawo karin masu haɓaka.

Analiz ɗin kasuwa yana nuna farashin UNI na tsaye a $9.69, daga $7 a farkon shekarar, a cikin wani gagarumin tashi na altcoin. Hasashen dogon lokaci suna da kyau: masana kamar yadda suka bayyana a CCN suna hasashen UNI zai kai $15 kafin karshen shekara, wanda hakan ke faruwa ne saboda karuwar adadin kasuwancin DEX. TVL na Uniswap yana tsaye a $3.2 biliyan, wanda ya sanya shi na uku a cikin manyan tsarin DeFi. Manyan abubuwan da suka faru sun haɗa da tashi a cikin kasuwancin ƙananan kuɗi na meme a Uniswap, wanda ya kasance kashi 40% na $1.2 trillion a cikin jimillar adadin. Karɓar hukumomi yana bayyana—manyan masu hannun jari sun tara miliyan 149 na UNI a kasuwanni kamar Binance.

Amma UNI ba tare da canje-canje ba ne. Ragin kashi 10% a watan Yuli 2025 ya biyo bayan gyaran kasuwa mai faɗi, duk da haka ya dawo da ƙarfi bayan labarin haɗin gwiwa tare da hanyoyin layer-2 kamar Arbitrum. Alamu na kan hanyar suna da ƙarfi: adireshin masu aiki har zuwa 15%, kuma adadin cinikayya yana kaiwa $135 miliyan a kowace rana. Idan aka kwatanta da abokan hamayya kamar PancakeSwap, fa'idar Uniswap tana cikin ruwa da ke cikin Ethereum da tsarin mulki, inda masu rike da UNI suka yi watsi da shawarwari masu hadari, suna tabbatar da kwanciyar hankali.

Ga masu zuba jari, amfanin UNI ya wuce hasashen kasuwa. Rike UNI yana ba da rabo daga kudaden musayar 0.3% na tsarin, an rarraba ta hanyar mulki. A cikin shekara da aka sami gagarumin nasarar DeFi (wanda aka auna da jimlar kasuwar manyan alamomi kamar UNI, AAVE, da CRV) wanda ya kai kashi 20% na kasuwar crypto, rawar da UNI ke takawa tana da matuƙar muhimmanci. Idan kana duba UNI, dandamali kamar Exbix suna sauƙaƙa ciniki ko saka jari. Saka jarin ka na UNI a Exbix don samun riba har zuwa 10%, ko kuma duba cikakken musayar a Exbix.

Idan muka duba gaba, haɗin gwiwar Uniswap tare da RWAs na iya tura UNI zuwa $20 nan da 2026. Masana suna nuna cewa ƙimar sa a ƙasa—TVL ratio a 0.40—yana nuni da damar ci gaba. Jin ra'ayi na zamantakewa a shafukan yanar gizo kamar X yana da kyau, tare da tattaunawa da ke haskaka UNI’s fitar da ya wuce na abokan hamayya.

(Jimlar kalmomi har yanzu: ~850. Ci gaba da fadada don zurfi.)

Aave (AAVE): Sabbin Hanyoyin Ba da Rance da Juriya a Kasuwa

Aave, wanda Stani Kulechov ya kafa a shekarar 2017 a matsayin ETHLend, ya zama babban tsari na ba da rance. AAVE, tambarin sa, yana ba da damar gudanarwa, saka jari don tsaro, da rage kudade. A cikin 2025, abubuwan da Aave ke fuskanta sun ta'allaka da V3 da V4, wanda suka gabatar da bayar da lamuni tsakanin sassa da kuma karbar lamuni da aka inganta don rage hadari, wanda ya haɓaka TVL zuwa $4.5 biliyan.

Farashin AAVE a $315.15 yana nuna karin kashi 200% tun daga farkon shekarar, wanda ke samun karfi daga shigowar kudade daga manyan masu zuba jari. Manyan masu zuba jari sun tara $13.2 miliyan a AAVE a watan Yuni 2025, bisa ga bayanan Lookonchain, wanda ya tura yawan ciniki zuwa $431 miliyan. Abubuwan da ke faruwa sun haɗa da tashi na ruwan jari na wuta—karbar bashi ba tare da wani tsaro ba don ciniki—wanda ya samar da $100 miliyan a cikin kudaden shiga a kwata na baya. Haɗin gwiwar Aave tare da stablecoins kamar USDC da EURC ya sanya shi zama gada tsakanin TradFi da DeFi, tare da haɗin gwiwa da Circle wanda ke ƙara ruwa.

Wannan gagarumin kasuwa ba ta dakatar da ci gaba ba. Bayan guje wa binciken SEC a 2023 (kamar yadda AAVE ke aiki a kan Tushen aikin shaida), ya tashi da kashi 27% a cikin rana guda. Hakan na nuna karuwar TVL da kashi 11% a kowane mako, wanda ke tabbatar da amincewa, tare da rancen da aka karfafa fiye da bukata suna rage yawan gazawa. Idan aka kwatanta da Compound, hanyoyin canjin kudi na Aave da fasalolin wakilcin kudi suna ba da sassauci, suna jan hankalin masu noma ribar da ke neman 8-12% APYs.

Kalubale sun haɗa da gasa daga sabbin tsarukan kamar JustLend ($3.7 biliyan TVL), amma Aave’s tsaro tsaro da kuma kyaututtukan kurakurai suna kiyaye gwanintar sa. A X, ra'ayi yana da kyau, tare da 59% na tweets masu kyau suna yabawa da rarraba sa. Ga masu amfani, sanya AAVE a cikin tsarin tsaro yana haifar da lada yayin da yake tallafawa tsarin daga rashin kudi.

Masu amfani da Exbix na iya amfani da damar AAVE ta hanyar ciniki a dandalin—kai zuwa Exbix—ko kuma yin staking don samun karin ribar a Exbix Staking, inda AAVE pools ke bayar da kyawawan lada.

Hasashen: A shekarar 2030, AAVE na iya kai $500-700 idan karɓar DeFi ya ci gaba, bisa ga hasashen CoinMarketCap. Matsayinsa na rashin daraja (TVL ratio 0.40) na nuna cewa lokaci ne na saye. damar.

Curve (CRV): Canjin Stablecoin da Inganta Amfani

Curve Finance, wanda Michael Egorov ya kirkiro a 2020, yana mai da hankali kan cinikayyar stablecoin tare da karancin jujjuyawar ta hanyar AMM. CRV, alamar gudanarwa da lada, tana karfafa masu bayar da ruwa (LPs) ta hanyar kulle veCRV don samun karin riba. A 2025, abubuwan da Curve ke mayar da hankali akai sun haɗa da LlamaLend da crvUSD yaƙi, yana tura TVL zuwa $3.9 biliyan.

Farashin CRV a $0.62 ya ga canje-canje, ya ragu daga $0.90 amma ya tashi da kashi 3% a mako. Hasashen daga CCN na nuna $1.86 kafin ƙarshen shekara, tare da manufofin dogon lokaci a $7.89 kafin 2030. Manyan abubuwan da ke haifar da wannan: Metapools don alamomin da ba su da shahara da haɗin gwiwa tare da TradFi, kamar biyan kuɗi da stablecoin ta hanyar Visa. Jimlar kasuwancin ya kai $342 miliyan a kullum, karin kashi 83%, yana nuna karuwar aiki.

Sabbin abubuwa sun haɗa da jagorancin noma riba, tare da lada na CRV har zuwa 2.5x ta hanyar ƙarfafawa. Bayan 2024, cin zarafi, sabuntawa na tsaro sun dawo da kwarin gwiwa, kamar yadda aka gani a cikin nauyin 1.37% na ma'auni don tafkuna kamar stETH. A kan hanyar, rarraba kaya tana nuna tarin manyan masu zuba jari, tare da Binance tana riƙe da 4.92% na kaya.

Idan aka kwatanta da Uniswap, mayar da hankali na Curve kan stables yana rage asarar wucin gadi, yana mai da shi m daidai ga masu saka jari masu tsauraran ra'ayi. Hira ta zamanto CRV #92 a cikin ambato, tare da maki na jin dadin 90/5.

Don shiga,  saka CRV a Exbix don samun ribar da ta dace, ko kuma ka yi ciniki a Exbix.

Gaba: Tare da DeFi’s $376.9 miliyan kuɗin shirin, CRV na iya karuwa da sau 5 idan haɗin gwiwar ƙetare ya faɗa.

Nazarin Kwatanci da Haɗin Gwiwa tare da Exbix

Idan aka kwatanta UNI, AAVE, da CRV: UNI na da ƙarfi a cikin adadin ciniki ($135M), AAVE a cikin TVL ($4.5B), CRV kuma a cikin ingancin dindindin. Duk suna amfana daga sabuntawar Ethereum, amma suna bambanta a cikin haɗari—UNI mai canzawa, AAVE mai dindindin, CRV mai mai da hankali kan riba.

Exbix yana haɗa wadannan ta hanyar bayar da ciniki da tsabar kudi mai rahusa. Ziyarci Exbix don fayiloli, ko Exbix Staking don ribar DeFi.

Hasashen Nan Gaba da Kammalawa

Zuƙowa 2026, waɗannan tokens na iya samun kashi 50-100% amfani a cikin ci gaban DeFi. Hadari: tsari, satar bayanai. Duk da haka, tare da goyon bayan hukumomi, makomar tana da haske.