USDai的成熟度不只取决于存款增长，更取决于GPU抵押信贷、储备和sUSDai赎回流动性能否验证。InfraFi叙事很强，但抵押权、保险和借款人现金流仍在链下。
Investment View
USDai成熟度应看GPU信贷、sUSDai赎回流动性和CHIP治理透明度。
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Report Type
Project Maturity Analysis
Version
v1
Analysis Date
2026年7月21日
Language
zh
Disclaimer: This report is generated through AI-powered analysis and market data. This is not investment advice. All investment decisions should be made at your own risk.