近日，NGC董事总经理蔡彦（缺氧老师）发表了《DeFi 估值之差异：叙事和数据哪个更重要？》一文。里面提出了将叙事和数据作为横轴纵轴，区分项目市值跃升的过程的思维框架（详见下文链接中图示）。我们将一些实例，例如MPH88，SUSHI和ALPHA，放在该框架中进行了探讨。我们还谈到了最近的COVER事件（COVER是缺氧老师做了比较深入研究的一个保险项目）。除此之外，缺氧老师分享了一些她喜欢在评估和项目时看待的指标，并解释了她自己的投资策略和风格。总的来说这期播客非常有趣，我很享受这个聊天！

NGC 网站: https://www.ngc.fund/https://www.ngc.fund/

《探索DeFi 估值之差异：叙事和数据哪个更重要？》：https://mp.weixin.qq.com/s/dDuXufZdpkDF-U_0QIkg-A

《从保险协议Cover再思考：今天的DeFi 世界究竟需要什么》：https://mp.weixin.qq.com/s/Fubc2uREF70rhDihqzbphQ

更多信息，请移步官网https://multicoin.capital/zh

重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法，并不代表Multicoin Capital官方的观点。此播客仅用于提供信息，不作为投资参考。Multicoin Capital有时可能会在此节目中讨论的某些代币或公司中持有头寸。

Yan Cai, Managing Director at NGC recently wrote an article about examining the growth of DeFi projects' market cap via a frame work of "narrative" and "data". We fitted a few examples, such as MPH88, SUSHI, and ALPHA, into the framework. We also talked about the recent incident of COVER, an insurance project that Yan had done a lot of research on. In addition, Yan shared a few metrics she liked to look at when evaluating and project, and explained her investment strategy and style. Over all it was a very fun chat - I enjoyed it a lot!

NGC Website: https://www.ngc.fund/https://www.ngc.fund/

《Exploring the Market Cap of DeFi Projects: Which Criteria Matters More - Narrative or Data?》：https://mp.weixin.qq.com/s/dDuXufZdpkDF-U_0QIkg-A

《On Cover Protocol: What does the DeFi world today need?》：https://mp.weixin.qq.com/s/Fubc2uREF70rhDihqzbphQ

For more information about Multicoin Capital, please visit https://multicoin.capital/.

Important Disclaimers: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion and do not represent the opinions of Multicoin Capital in any way. This podcast is for informational purposes only and should not be construed as investment advice. Multicoin Capital may hold positions in some of the tokens and/or companies discussed on this show.

EP.12 [CN] - 与缺氧老师聊聊DeFi估值之差异 / Discussing the Valuation Differences in DeFi with Yan Cai

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