{"id":76880,"date":"2022-04-24T00:30:00","date_gmt":"2022-04-24T00:30:00","guid":{"rendered":"https:\/\/cn.cryptonews.com\/?p=76880"},"modified":"2023-06-26T11:26:40","modified_gmt":"2023-06-26T11:26:40","slug":"ru-he-yong-yi-tai-fang-yan-sheng-pin-ethereum-derivatives-wei-ni-de-nft-shou-cang-pin-dui-chong-feng-xian","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cn\/exclusives\/ru-he-yong-yi-tai-fang-yan-sheng-pin-ethereum-derivatives-wei-ni-de-nft-shou-cang-pin-dui-chong-feng-xian\/","title":{"rendered":"\u5982\u4f55\u7528\u4ee5\u592a\u574a\u884d\u751f\u54c1 (Ethereum Derivatives) \u4e3a\u4f60\u7684 NFT \u6536\u85cf\u54c1\u5bf9\u51b2\u98ce\u9669"},"content":{"rendered":"
\"\"
来源：Adobe\/Pavel Ignatov<\/figcaption><\/figure>

大多数非同质性代币 (<\/strong>NFT<\/strong><\/a>\/ Non-fungible token) 市场都存在于以太坊 (<\/strong>Ethereum<\/strong><\/a>) 上，这在一定程度上将 NFT 市场的表现与以太币 (ETH) 的价值挂钩，因为大多数 NFT 都用 ETH 来定价。<\/strong><\/p>

因此，担心可能出现市场低迷的 NFT 收藏家可以使用以太坊衍生品 (Ethereum derivatives) 来保护其收藏品的价值。<\/strong><\/p>

继续阅读下去以了解如何使用期货 (futures) 和期权 (options) 让您的 NFT 收藏品可以避险保值。<\/strong><\/p>

使用期货 (futures) 让您的 NFT 投资组合得以对冲风险<\/strong><\/h3>

如果您担心 NFT 的炒作会消失，因而导致您的 NFT 收藏品的价值下降，您可以透过出售<\/strong>以太坊期货 (Ethereum futures)<\/strong><\/a> 来保护您的投资组合。<\/strong><\/p>

期货是金融的衍生合约，签约的双方同意在特定日期以预先约定的价格交换资产。期货合约背后的最初想法是，您可以锁定价格以在未来买卖资产。这样，无论当时资产的市场价值在哪里，您都将知道您将支付或收到多少金额。<\/strong><\/p>

您可以在众多主要的加密货币交易所来交易 ETH 期货，或者，如果您更喜欢受监管的衍生品，可以在芝加哥商品交易所 (CME\/ Chicago Mercantile Exchange) 进行交易。<\/strong><\/p>

如果您预计 NFT 市场将在未来六个月内调整，但您不想出售任何 NFT，您可以透过出售六个月到期的 ETH 期货来让您奠基于以太坊的 NFT 投资组合得以避开风险。<\/strong><\/p>

您可以透过计算投资组合的<\/strong>对冲比率 (hedge ratio)<\/strong><\/a> 来决定要让多少投资组合得以避险。这样，您将知道有多少期货合约可以保障部分或整个 NFT 投资组合。<\/strong><\/p>

使用期权 (options) 让您的 NFT 投资组合得以对冲风险<\/strong><\/h3>

或者，您也可以使用以太坊期权 (Ethereum options) 来保障您的 NFT 收藏品。<\/strong><\/p>

期权是赋予持有人权利但没有义务在未来特定时间以预定价格购买或出售资产的衍生品合约。这样，您可以保护自己免受投资组合价值下跌的影响，但与期货合约不同，您只需在到期日支付期权 (而不是买卖标的资产)。<\/strong><\/p>

为了对冲您的 JPEG 收藏品在未来六个月内的价值下跌，您可以在 Deribit 等加密衍生品交易所购买以太坊看跌期权 (Ethereum put options)。<\/strong><\/p>

透过购买以太坊看跌期权合约，您可以在约定的日期以预定价格购买\/出售 ETH。如果以太坊代币的市场价格低于期权的行使价 (the options’ strike price)，您的合约将“物有所值”，且您将能够在市场上以更便宜的价格购买 ETH 并以更高的预定价值来出售（在行使价格时）。<\/strong><\/p>

这样，您就可以从看跌期权的对冲当中获利，这将抵消您的 NFT 收藏品的损失。<\/strong><\/p>

在您开始使用 ETH 衍生品来对冲您心爱的 NFT 收藏品之前，请记住，NFT 市场和以太坊并非完全相关。事实上，根据 Coin Metrics 的<\/strong>报告<\/strong><\/a>，它们根本没有那么相关。<\/strong><\/p>

报告指出：<\/strong><\/p>

“[…] OpenSea 销量与 ETH 价格之间似乎并没有一致的相关性 — 有时它们高度相关，例如 2021 年 8 月，但有时它们呈负相关，例如 2021 年 11 月。纵然现在下定论还为时尚早，但NFT 似乎是一个相对独立的市场，并且在很大程度上可能与加密货币市场的其他部分分开运作。”<\/strong><\/p><\/blockquote>

这意味着你可以在一定程度上对冲 NFT 价值的下跌，但以太坊衍生品 — 即使是 1-1 的对冲比率 — 也可能不会完全抵消 NFT 投资组合价值的下降。<\/strong><\/p>

此外，在您尝试对冲您的 NFT 收藏品之前，请确保您完全了解期货和期权的运作方式，以确保您不会因疏忽而亏损。<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

来源：Adobe\/Pavel Ignatov大多数非同质性代币 (NFT\/ Non-fungible token) 市场都存在于以太坊 (Ethereum) 上，这在一定程度上将 NFT 市场的表现与以太币 (ETH) 的价值挂钩，因为大多数 NFT 都用 ETH 来定价。因此，担心可能出现市场低迷的 NFT 收藏家可以使用以太坊衍生品 (Ethereum derivatives) 来保护其收藏品的价值。继续阅读下去以了解如何使用期货 (futures) 和期权 (options) 让您的 NFT 收藏品可以避险保值。使用期货 (futures) 让您的 NFT 投资组合得以对冲风险如果您担心 NFT 的炒作会消失，因而导致您的 NFT 收藏品的价值下降，您可以透过出售以太坊期货 (Ethereum futures) 来保护您的投资组合。期货是金融的衍生合约，签约的双方同意在特定日期以预先约定的价格交换资产。期货合约背后的最初想法是，您可以锁定价格以在未来买卖资产。这样，无论当时资产的市场价值在哪里，您都将知道您将支付或收到多少金额。您可以在众多主要的加密货币交易所来交易 ETH 期货，或者，如果您更喜欢受监管的衍生品，可以在芝加哥商品交易所 (CME\/ Chicago Mercantile Exchange) 进行交易。如果您预计 NFT 市场将在未来六个月内调整，但您不想出售任何 NFT，您可以透过出售六个月到期的 ETH 期货来让您奠基于以太坊的 NFT 投资组合得以避开风险。您可以透过计算投资组合的对冲比率 (hedge ratio) 来决定要让多少投资组合得以避险。这样，您将知道有多少期货合约可以保障部分或整个 […]<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,5],"tags":[],"editors":[],"sponsored_companies":[],"class_list":["post-76880","post","type-post","status-publish","format-standard","hentry","category-exclusives","category-features"],"acf":[],"yoast_head":"\n\u5982\u4f55\u7528\u4ee5\u592a\u574a\u884d\u751f\u54c1 (Ethereum Derivatives) \u4e3a\u4f60\u7684 NFT \u6536\u85cf\u54c1\u5bf9\u51b2\u98ce\u9669<\/title>\n<meta name=\"description\" content=\"来源：Adobe\/Pavel Ignatov大多数非同质性代币 (NFT\/ Non-fungible token)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.com\/cn\/exclusives\/ru-he-yong-yi-tai-fang-yan-sheng-pin-ethereum-derivatives-wei-ni-de-nft-shou-cang-pin-dui-chong-feng-xian\/\" \/>\n<meta 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