{"id":42040,"date":"2025-06-17T08:06:18","date_gmt":"2025-06-16T23:06:18","guid":{"rendered":"https:\/\/sipo.tokyo\/?p=42040"},"modified":"2025-06-17T08:06:18","modified_gmt":"2025-06-16T23:06:18","slug":"post-42040","status":"publish","type":"post","link":"https:\/\/sipo.tokyo\/?p=42040","title":{"rendered":"\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u52d5\u753b\u300cBrief Whiteboard on CSWF\uff08\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306b\u95a2\u3059\u308b\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u89e3\u8aac\uff09\u300d\u5168\u6587\u7ffb\u8a33\u8a33\uff1a\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u69cb\u60f3\u304c\u3064\u3044\u306b\u660e\u3089\u304b\u306b\u2500\u2500\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u304c\u8a9e\u308b\u300c\u53d7\u52d5\u7684\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u306e\u8131\u5374\u300d"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio deb-block deb-block-c8ef35d\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Brief Whiteboard on CSWF\" width=\"900\" height=\"506\" src=\"https:\/\/www.youtube.com\/embed\/mMERy6CyNso?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<div class=\"dp_toc_container pos-before_first_h allow-toggle\" role=\"navigation\" data-margin=\"30\"><p class=\"toc_title_block\"><span class=\"toc_title icon-list\">INDEX<\/span><span class=\"toc_toggle icon-up-open\" role=\"button\"><\/span><\/p><ul class=\"dp_toc_ul has_title\"><li><a href=\"#e382abe383abe38380e3838ee4b8bbe6a8a9e38395e382a1e383b3e38389e6a78be683b3e3818ce381a4e38184e381abe6988ee38289e3818be381abe29480e29480-1\">\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u69cb\u60f3\u304c\u3064\u3044\u306b\u660e\u3089\u304b\u306b\u2500\u2500\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u304c\u8a9e\u308b\u300c\u53d7\u52d5\u7684\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u306e\u8131\u5374\u300d<\/a><\/li><li><a href=\"#e38381e383a3e383bce383abe382bae383bbe3839be382b9e382ade383b3e382bde383b3e6b08fe58b95e794bbe3808cbrief-whiteboard-on-cswfefbc88e382abe383ab-2\">\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u52d5\u753b\u300cBrief Whiteboard on CSWF\uff08\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306b\u95a2\u3059\u308b\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u89e3\u8aac\uff09\u300d\u5168\u6587\u7ffb\u8a33\u8a33<\/a><ul><li><a href=\"#e5ba8fe69687e381a8e78fbee78ab6e58886e69e90-3\">\u5e8f\u6587\u3068\u73fe\u72b6\u5206\u6790<\/a><\/li><li><a href=\"#e382abe383abe38380e3838ee4b8bbe6a8a9e38395e382a1e383b3e38389e381aee382b3e383b3e382bbe38397e38388-4\">\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306e\u30b3\u30f3\u30bb\u30d7\u30c8<\/a><\/li><li><a href=\"#e383aae382b9e382afe381aee8a696e782b9efbc9ae5ae89e585a8e381a8e4b88de5ae89e5ae9ae381aee38390e383a9e383b3e382b9-5\">\u30ea\u30b9\u30af\u306e\u8996\u70b9\uff1a\u5b89\u5168\u3068\u4e0d\u5b89\u5b9a\u306e\u30d0\u30e9\u30f3\u30b9<\/a><\/li><li><a href=\"#e38388e383ace382b8e383a3e383aae383bce381aee79baee79a84e381a8e381afefbc9f-6\">\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306e\u76ee\u7684\u3068\u306f\uff1f<\/a><\/li><li><a href=\"#kpie381aee585b7e4bd93e4be8b-7\">KPI\u306e\u5177\u4f53\u4f8b<\/a><\/li><li><a href=\"#e688a6e795a5e79a84e38391e383bce38388e3838ae383bce382b7e38383e38397e381a8e381afe4bd95e3818befbc9f-8\">\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u3068\u306f\u4f55\u304b\uff1f<\/a><\/li><li><a href=\"#e381aae3819ce38193e3828ce381bee381a7e8adb0e8ab96e38195e3828ce381a6e38193e381aae3818be381a3e3819fe381aee3818befbc9f-9\">\u306a\u305c\u3053\u308c\u307e\u3067\u8b70\u8ad6\u3055\u308c\u3066\u3053\u306a\u304b\u3063\u305f\u306e\u304b\uff1f<\/a><\/li><li><a href=\"#e5889de38281e381a6e381aee58f96e3828ae7b584e381bfefbc9acatalyste4bba5e5a496e381b8e381aee694afe587ba-10\">\u521d\u3081\u3066\u306e\u53d6\u308a\u7d44\u307f\uff1aCatalyst\u4ee5\u5916\u3078\u306e\u652f\u51fa<\/a><\/li><li><a href=\"#defie68890e995b7e381aee58fafe883bde680a7e381a8e78fbee59ca8e381aee588b6e99990-11\">DeFi\u6210\u9577\u306e\u53ef\u80fd\u6027\u3068\u73fe\u5728\u306e\u5236\u9650<\/a><\/li><li><a href=\"#e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381a8e8b387e794a3e382bfe382a4e38397e381aee58886e9a19e-12\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3068\u8cc7\u7523\u30bf\u30a4\u30d7\u306e\u5206\u985e<\/a><\/li><li><a href=\"#e382a2e382afe38386e382a3e38396e9818be794a8e59e8be38388e383ace382b8e383a3e383aae383bce381b8e381aee7a7bbe8a18cefbc9a3e382b9e38386e38383-13\">\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u578b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3078\u306e\u79fb\u884c\uff1a3\u30b9\u30c6\u30c3\u30d7<\/a><\/li><li><a href=\"#e5ae9fe8a18ce4b8bbe4bd93efbc9ae382a2e382bbe38383e38388e3839ee3838de383bce382b8e383a3e383bce381a8e688a6e795a5e7ad96e5ae9a-14\">\u5b9f\u884c\u4e3b\u4f53\uff1a\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3068\u6226\u7565\u7b56\u5b9a<\/a><\/li><li><a href=\"#e38393e38383e38388e382b3e382a4e383b3e381a8e381aee688a6e795a5e79a84e38391e383bce38388e3838ae383bce382b7e38383e38397-15\">\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u306e\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7<\/a><\/li><li><a href=\"#e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381aee5ae9fe6858be381a8e382abe383abe38380e3838ee381aee7ab8be381a1e4bd8de7bdae-16\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u5b9f\u614b\u3068\u30ab\u30eb\u30c0\u30ce\u306e\u7acb\u3061\u4f4d\u7f6e<\/a><\/li><li><a href=\"#e382a2e383abe382b4e383aae382bae383a0e59e8be382b9e38386e383bce38396e383abe382b3e382a4e383b3e381aee588a9e782b9e381a8e99990e7958c-17\">\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u578b\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u5229\u70b9\u3068\u9650\u754c<\/a><\/li><li><a href=\"#e588a9e79b8ae381afe381a9e38186e689b1e38186e381aee3818befbc9fefbc88e5868de68a95e8b387-or-adae8b3bce585a5efbc89-18\">\u5229\u76ca\u306f\u3069\u3046\u6271\u3046\u306e\u304b\uff1f\uff08\u518d\u6295\u8cc7 or ADA\u8cfc\u5165\uff09<\/a><\/li><li><a href=\"#e7b584e7b994e383a2e38387e383abefbc9ae383ace382a4e383a4e383bce38389e383bbe382ace38390e3838ae383b3e382b9e6a78be980a0-19\">\u7d44\u7e54\u30e2\u30c7\u30eb\uff1a\u30ec\u30a4\u30e4\u30fc\u30c9\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020<\/a><\/li><li><a href=\"#e5ae9fe99a9be381aee7b584e7b994e6a78be68890e381aee4be8befbc88dunae383a2e38387e383abefbc89-20\">\u5b9f\u969b\u306e\u7d44\u7e54\u69cb\u6210\u306e\u4f8b\uff08DUNA\u30e2\u30c7\u30eb\uff09<\/a><\/li><li><a href=\"#e79ba3e69fbbe4bd93e588b6e381a8e9808fe6988ee680a7e381aee7a2bae4bf9d-21\">\u76e3\u67fb\u4f53\u5236\u3068\u900f\u660e\u6027\u306e\u78ba\u4fdd<\/a><\/li><li><a href=\"#e6b885e7ae97efbc88liquidationefbc89e381a8adae381b8e381aee5bea9e5b8b0-22\">\u6e05\u7b97\uff08Liquidation\uff09\u3068ADA\u3078\u306e\u5fa9\u5e30<\/a><\/li><li><a href=\"#e58b95e79a84ceb1e381aee8a8ade5ae9ae381a8e68890e995b7e381aee98193e7ad8b-23\">\u52d5\u7684\u03b1\u306e\u8a2d\u5b9a\u3068\u6210\u9577\u306e\u9053\u7b4b<\/a><\/li><li><a href=\"#e688a6e795a5e79a84e383a1e383aae38383e38388e381a8e7b5b1e6b2bbe6a8a9e381aee5bcb7e58c96-24\">\u6226\u7565\u7684\u30e1\u30ea\u30c3\u30c8\u3068\u7d71\u6cbb\u6a29\u306e\u5f37\u5316<\/a><\/li><li><a href=\"#e5b086e69da5e79a84e381abe4b88de58fafe981bfe381a8e381aae3828be3839ee383abe38381e382a2e382bbe38383e38388e58c96-25\">\u5c06\u6765\u7684\u306b\u4e0d\u53ef\u907f\u3068\u306a\u308b\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u5316<\/a><\/li><li><a href=\"#e78fbee78ab6e381aee99990e7958cefbc9ae7aea1e79086e382b7e382b9e38386e383a0e3818ce5ad98e59ca8e38197e381aae38184-26\">\u73fe\u72b6\u306e\u9650\u754c\uff1a\u7ba1\u7406\u30b7\u30b9\u30c6\u30e0\u304c\u5b58\u5728\u3057\u306a\u3044<\/a><\/li><li><a href=\"#e4bb96e381aee4b8bbe8a681e38397e383ade382b8e382a7e382afe38388e381afe38199e381a7e381abe5ae9fe696bde38197e381a6e38184e3828b-27\">\u4ed6\u306e\u4e3b\u8981\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306f\u3059\u3067\u306b\u5b9f\u65bd\u3057\u3066\u3044\u308b<\/a><\/li><li><a href=\"#e3808ce4bea1e6a0bce3818ce4b88be3818ce3828be3808de381a8e38184e38186e689b9e588a4e381b8e381aee58f8de8ab96-28\">\u300c\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u300d\u3068\u3044\u3046\u6279\u5224\u3078\u306e\u53cd\u8ad6<\/a><\/li><li><a href=\"#e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381a8defie382a8e382b3e382b7e382b9e38386e383a0e381aee69caae68890e7869f-29\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3068DeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u672a\u6210\u719f<\/a><\/li><li><a href=\"#e5ae89e585a8e8a385e7bdaeefbc88e382b7e383a3e38383e38388e38380e382a6e383b3efbc89e381a8e382ace38390e3838ae383b3e382b9-30\">\u5b89\u5168\u88c5\u7f6e\uff08\u30b7\u30e3\u30c3\u30c8\u30c0\u30a6\u30f3\uff09\u3068\u30ac\u30d0\u30ca\u30f3\u30b9<\/a><\/li><li><a href=\"#e3839be382b9e382ade383b3e382bde383b3e6b08fe381aee38395e383a9e382b9e38388e383ace383bce382b7e383a7e383b3e381a8e4b8bbe5bcb5-31\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306e\u30d5\u30e9\u30b9\u30c8\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u4e3b\u5f35<\/a><\/li><li><a href=\"#e3808c600e3839fe383aae382aae383b3e79b97e99ba3e79691e68391e3808de29480e29480e4bfa1e9a0bce381aee6b1bae5ae9ae79a84e381aae696ade7b5b6-32\">\u300c600\u30df\u30ea\u30aa\u30f3\u76d7\u96e3\u7591\u60d1\u300d\u2500\u2500\u4fe1\u983c\u306e\u6c7a\u5b9a\u7684\u306a\u65ad\u7d76<\/a><\/li><li><a href=\"#e382abe383abe38380e3838ee381aee68890e58a9fe38292e9a198e381a3e381a6e38184e3828b-33\">\u30ab\u30eb\u30c0\u30ce\u306e\u6210\u529f\u3092\u9858\u3063\u3066\u3044\u308b<\/a><\/li><li><a href=\"#e68f90e6a188e3818ce68ea1e68a9ee38195e3828ce381aae38191e3828ce381b0e3808ce98080e3818fe8a69ae6829fe3808d-34\">\u63d0\u6848\u304c\u63a1\u629e\u3055\u308c\u306a\u3051\u308c\u3070\u300c\u9000\u304f\u899a\u609f\u300d<\/a><\/li><li><a href=\"#twittere381a7e381aee6b7b7e4b9b1e381a8e3808ce8a2abe5aeb3e88085e6848fe8ad98e3808de381b8e381aee689b9e588a4-35\">Twitter\u3067\u306e\u6df7\u4e71\u3068\u300c\u88ab\u5bb3\u8005\u610f\u8b58\u300d\u3078\u306e\u6279\u5224<\/a><\/li><li><a href=\"#e7b590e8ab96efbc9ae68a95e7a5a8e381abe38288e381a3e381a6e69caae69da5e38292e6b1bae38281e3828b-36\">\u7d50\u8ad6\uff1a\u6295\u7968\u306b\u3088\u3063\u3066\u672a\u6765\u3092\u6c7a\u3081\u308b<\/a><\/li><li><a href=\"#e69c80e5be8ce381aee383a1e38383e382bbe383bce382b8efbc9ae3819de3828ce381a7e38282e7a781e381afe4bfa1e38198e381a6e38184e3828b-37\">\u6700\u5f8c\u306e\u30e1\u30c3\u30bb\u30fc\u30b8\uff1a\u305d\u308c\u3067\u3082\u79c1\u306f\u4fe1\u3058\u3066\u3044\u308b<\/a><\/li><\/ul><\/div><h3 class=\"wp-block-heading deb-block deb-block-b17f4ae\" id=\"e382abe383abe38380e3838ee4b8bbe6a8a9e38395e382a1e383b3e38389e6a78be683b3e3818ce381a4e38184e381abe6988ee38289e3818be381abe29480e29480-1\"><strong>\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u69cb\u60f3\u304c\u3064\u3044\u306b\u660e\u3089\u304b\u306b\u2500\u2500\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u304c\u8a9e\u308b\u300c\u53d7\u52d5\u7684\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u306e\u8131\u5374\u300d<\/strong><\/h3>\n\n\n\n<p class=\"deb-block deb-block-e20b843\">\u30ab\u30eb\u30c0\u30ce\u306e\u5171\u540c\u5275\u8a2d\u8005\u3067\u3042\u308b\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u304c\u3001YouTube\u306e\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u52d5\u753b\u300cBrief Whiteboard on CSWF\u300d\u306b\u3066\u3001\u30ab\u30eb\u30c0\u30ce\u8ca1\u52d9\uff08\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\uff09\u306e\u629c\u672c\u7684\u306a\u6539\u9769\u6848\u3092\u767a\u8868\u3057\u307e\u3057\u305f\u3002\u305d\u306e\u540d\u3082\u300cCSWF\uff08Cardano Sovereign Wealth Fund\uff09\u300d\u3002\u3053\u308c\u307e\u3067\u306e\u201c\u53d7\u52d5\u7684\u30fb\u5358\u4e00\u8cc7\u7523\u30fb\u7121\u7ba1\u7406\u201d\u306e\u4f53\u5236\u304b\u3089\u3001\u201c\u80fd\u52d5\u7684\u30fb\u8907\u6570\u8cc7\u7523\u30fb\u6226\u7565\u7684\u201d\u306a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528\u3078\u3068\u79fb\u884c\u3059\u308b\u69cb\u60f3\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-4fa6220\"><strong>\u80cc\u666f\uff1a\u3044\u307e\u306e\u30ab\u30eb\u30c0\u30ce\u8ca1\u52d9\u306f\u300c\u53d7\u52d5\u7684\u3067\u8106\u3044\u300d<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-b875d73\">\u73fe\u5728\u306e\u30ab\u30eb\u30c0\u30ce\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u306f\u3001\u304a\u3088\u305d17\u5104ADA\u304c\u4fdd\u7ba1\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u305d\u306e\u904b\u7528\u5f62\u614b\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-9cdce19\">\n<li class=\"\"><strong>\u53d7\u52d5\u7684\uff08Passive\uff09<\/strong>\uff1a\u4e00\u5207\u904b\u7528\u3055\u308c\u3066\u3044\u306a\u3044<\/li>\n\n\n\n<li class=\"\"><strong>\u5358\u4e00\u8cc7\u7523\uff08Single Asset\uff09<\/strong>\uff1a\u4fdd\u6709\u3057\u3066\u3044\u308b\u306e\u306fADA\u306e\u307f<\/li>\n\n\n\n<li class=\"\"><strong>\u7121\u7ba1\u7406\uff08Unmanaged\uff09<\/strong>\uff1a\u8cac\u4efb\u8005\u304c\u4e0d\u5728\u3067\u81ea\u5f8b\u7684\u306a\u7ba1\u7406\u4f53\u5236\u304c\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-975e0ac\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u300cADA\u304c3\u30c9\u30eb\u304b\u308925\u30bb\u30f3\u30c8\u307e\u3067\u66b4\u843d\u3057\u305f\u3053\u3068\u3067\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306e\u8cfc\u8cb7\u529b\u304c\u5927\u5e45\u306b\u4f4e\u4e0b\u3057\u305f\u300d\u3068\u8ff0\u3079\u3001\u30ea\u30b9\u30af\u5206\u6563\u306e\u306a\u3044\u5358\u4e00\u8cc7\u7523\u4f53\u5236\u306e\u5371\u3046\u3055\u3092\u6307\u6458\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-0ead3c9\"><strong>CSWF\u69cb\u60f3\uff1a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3092\u201c\u56fd\u5bb6\u30d5\u30a1\u30f3\u30c9\u201d\u306e\u3088\u3046\u306b\u6a5f\u80fd\u3055\u305b\u308b<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-56c7606\">\u5f7c\u304c\u63d0\u6848\u3059\u308bCSWF\u306e\u30d3\u30b8\u30e7\u30f3\u306f\u660e\u5feb\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-35a55fe\">\n<p class=\"deb-block deb-block-4398626\">\u300c\u30ab\u30eb\u30c0\u30ce\u306e\u8ca1\u52d9\u3092\u3001\u201c\u80fd\u52d5\u7684\u30fb\u8907\u6570\u8cc7\u7523\u30fb\u7ba1\u7406\u578b\u201d\u306e\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u3078\u3068\u9032\u5316\u3055\u305b\u308b\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-ca73678\">\u305d\u306e\u5177\u4f53\u7684\u30b9\u30c6\u30c3\u30d7\u306f\u4ee5\u4e0b\u306e3\u3064\u306b\u96c6\u7d04\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-9411f5e\">\n<li class=\"\"><strong>Divest\uff08\u58f2\u5374\uff09<\/strong>\uff1a\u4e00\u5b9a\u91cf\u306eADA\u3092\u3001\u5e02\u5834\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u3092\u6291\u3048\u3064\u3064\u5206\u6563\u7684\u306b\u58f2\u5374<\/li>\n\n\n\n<li class=\"\"><strong>Purchase\uff08\u8cfc\u5165\uff09<\/strong>\uff1a\u5f97\u305f\u8cc7\u91d1\u3067\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3084\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3001RWA\uff08\u5b9f\u4e16\u754c\u8cc7\u7523\uff09\u306a\u3069\u3092\u8cfc\u5165<\/li>\n\n\n\n<li class=\"\"><strong>Placement\uff08\u914d\u7f6e\uff09<\/strong>\uff1a\u305d\u308c\u3089\u306e\u8cc7\u7523\u3092DeFi\u306a\u3069\u306e\u904b\u7528\u5148\u306b\u914d\u7f6e\u3057\u3001\u5229\u56de\u308a\u3084\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u6210\u9577\u306b\u5bc4\u4e0e\u3055\u305b\u308b<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-7de8506\"><strong>\u76ee\u6307\u30593\u3064\u306e\u76ee\u7684<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-37e2e8d\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u3001\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306b\u3088\u3063\u3066\u4ee5\u4e0b\u306e\u76ee\u7684\u3092\u5b9f\u73fe\u3067\u304d\u308b\u3068\u8ff0\u3079\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f2be1ff\">\n<li class=\"\">\u2705 <strong>\u8cfc\u8cb7\u529b\u306e\u6210\u9577\uff08Wealth Creation\uff09<\/strong><\/li>\n\n\n\n<li class=\"\">\u2705 <strong>\u5373\u6642\u4f7f\u7528\u53ef\u80fd\u306a\u8cc7\u7523\uff08Liquidity\uff09<\/strong><\/li>\n\n\n\n<li class=\"\">\u2705 <strong>\u30ab\u30eb\u30c0\u30ce\u5168\u4f53\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u62e1\u5927\uff08Ecosystem Growth\uff09<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-1921c08\">\u52a0\u3048\u3066\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u4fdd\u6709\u306a\u3069\u3092\u901a\u3058\u305f\u300c\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u300d\u3084\u3001DeFi\u652f\u63f4\u306b\u3088\u308b\u300c\u53d6\u5f15\u91cf\u30fbTVL\u306e\u62e1\u5927\u300d\u306b\u3082\u8a00\u53ca\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-cff706a\"><strong>\u73fe\u5b9f\u7684\u306a\u4ed5\u7d44\u307f\uff1a\u30ec\u30a4\u30e4\u30fc\u30c9\u69cb\u9020\u306eDAO\uff0b\u30aa\u30d5\u30b7\u30e7\u30a2\u6cd5\u4eba<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-94ef503\">\u69cb\u60f3\u3092\u5b9f\u73fe\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u904b\u55b6\u4f53\u5236\u304c\u7d44\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7d8e9c6\">\n<li class=\"\"><strong>DAO\u69cb\u9020<\/strong>\uff1a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5168\u4f53\u3092\u7d71\u6cbb\u3059\u308b\u5206\u6563\u578b\u7d44\u7e54<\/li>\n\n\n\n<li class=\"\"><strong>\u30aa\u30d5\u30b7\u30e7\u30a2\u6cd5\u4eba\uff08BVI\/Cayman\uff09<\/strong>\uff1aADA\u4fdd\u6709\u30fb\u904b\u7528\u306e\u6cd5\u7684\u5668<\/li>\n\n\n\n<li class=\"\"><strong>\u7ba1\u7406\u8005\uff08Administrator\uff09<\/strong>\uff1a\u8cc7\u7523\u904b\u7528\u4f1a\u793e\u3068\u306e\u5951\u7d04\u3001\u76e3\u67fb\u4eba\u3068\u306e\u9023\u643a<\/li>\n\n\n\n<li class=\"\"><strong>\u30ac\u30d0\u30cb\u30f3\u30b0\u30dc\u30fc\u30c9<\/strong>\uff1aDAO\u306b\u3088\u3063\u3066\u9078\u51fa\u3055\u308c\u305f\u76e3\u7763\u8005\u96c6\u56e3<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-ed5e3bd\">\u3053\u308c\u306b\u3088\u308a\u3001\u30ea\u30bf\u30fc\u30f3\u306f\u300cADA\u306e\u8cb7\u3044\u623b\u3057\u300d\u304b\u300c\u518d\u6295\u8cc7\u300d\u306b\u4f7f\u308f\u308c\u3001\u5168\u4f53\u304c\u6301\u7d9a\u7684\u306b\u5faa\u74b0\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-3fd00ff\"><strong>\u6700\u5927\u306e\u554f\u984c\uff1a\u300c\u6211\u3005\u306f\u52d5\u3044\u3066\u3044\u306a\u3044\u300d<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-18e7342\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u3001\u696d\u754c\u5168\u4f53\u304c\u3053\u306e\u65b9\u5411\u3078\u9032\u3093\u3067\u3044\u308b\u3053\u3068\u3092\u5f37\u8abf\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-a348cc4\">\n<li class=\"\">Ripple\u3084Solana\u3001Aptos\u306a\u3069\u306f\u3059\u3067\u306b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528\u3092\u5b9f\u884c\u4e2d<\/li>\n\n\n\n<li class=\"\">BlackRock\u3084MicroStrategy\u306e\u8cc7\u7523\u5f62\u6210\u3082\u3001\u3053\u3046\u3057\u305f\u6226\u7565\u306e\u4e00\u74b0<\/li>\n\n\n\n<li class=\"\">\u30ab\u30eb\u30c0\u30ce\u3060\u3051\u304c\u201c\u8b70\u8ad6\u3067\u6b62\u307e\u3063\u3066\u3044\u308b\u201d\u72b6\u614b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-df4a8ed\">\u5f7c\u306f\u300c\u3053\u306e\u307e\u307e\u3067\u306f\u696d\u754c\u306b\u771f\u5263\u306b\u6271\u308f\u308c\u306a\u3044\u300d\u3068\u5f37\u3044\u5371\u6a5f\u611f\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-eb03310\"><strong>\u30ab\u30eb\u30c0\u30ce\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u3078\u306e\u6311\u6226\u72b6\uff1a\u300c\u884c\u52d5\u3059\u308b\u899a\u609f\u304c\u3042\u308b\u304b\uff1f\u300d<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-98fcdb9\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u660e\u78ba\u306b\u8a9e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-5d1246d\">\n<p class=\"deb-block deb-block-b960126\">\u300c\u3053\u306e\u63d0\u6848\u306bYes\u3068\u8a00\u3046\u304b\u3001No\u3068\u8a00\u3046\u304b\u3002\u305d\u308c\u306f\u7686\u3055\u3093\u6b21\u7b2c\u3067\u3059\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-28fbf36\">\u3055\u3089\u306b\u3001\u81ea\u8eab\u306e\u7acb\u5834\u306b\u3064\u3044\u3066\u3082\u3053\u3046\u8ff0\u3079\u307e\u3057\u305f\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-d32f0ec\">\n<li class=\"\">\u2705 \u63d0\u6848\u304c\u63a1\u629e\u3055\u308c\u6210\u529f\u3059\u308c\u3070\u3001\u6b8b\u308b<\/li>\n\n\n\n<li class=\"\">\u2705 \u63a1\u629e\u3055\u308c\u5931\u6557\u3059\u308c\u3070\u3001\u81ea\u3089\u306e\u8aa4\u308a\u3068\u3057\u3066\u53d7\u3051\u5165\u308c\u308b<\/li>\n\n\n\n<li class=\"\">\u274c \u63a1\u629e\u3055\u308c\u305a\u4fe1\u4efb\u304c\u5f97\u3089\u308c\u306a\u3051\u308c\u3070\u3001\u9759\u304b\u306b\u9000\u304f<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-6ff801f\"><strong>\u307e\u3068\u3081\uff1a\u6280\u8853\u306f\u63c3\u3063\u305f\u3001\u3042\u3068\u306f\u300c\u6c7a\u65ad\u300d\u3060\u3051\u3060<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-ec845af\">\u30ab\u30eb\u30c0\u30ce\u306f\u3001Babel\u30d5\u30a3\u30fc\u3001Midnight\u7d71\u5408\u3001Glacier Drops\u306a\u3069\u3092\u901a\u3058\u3066\u3001\u5426\u5fdc\u306a\u304f\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u74b0\u5883\u3078\u3068\u9032\u3093\u3067\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-fc27071\">CSWF\u306f\u305d\u308c\u3092\u524d\u63d0\u3068\u3057\u3001\u672a\u6765\u306b\u5099\u3048\u308b\u63d0\u6848\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-7c2d2ce\">\n<p class=\"deb-block deb-block-f0e0ec1\">\u300c\u3053\u308c\u306f\u3001\u5358\u306a\u308b\u63d0\u6848\u3067\u306f\u306a\u3044\u3002\u672a\u6765\u3078\u306e\u8a2d\u8a08\u56f3\u3060\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-a44e953\">\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306e\u60c5\u71b1\u7684\u306a\u554f\u3044\u304b\u3051\u306b\u3001\u79c1\u305f\u3061\u306f\u3069\u3046\u5fdc\u3048\u308b\u3079\u304d\u306a\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"deb-block deb-block-f565b88\">\u4ee5\u4e0b\u306f\u3001\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u52d5\u753b\u300c<a href=\"https:\/\/www.youtube.com\/live\/mMERy6CyNso?si=b2vKL1uqwXTvl3PN\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/live\/mMERy6CyNso?si=b2vKL1uqwXTvl3PN\">Brief Whiteboard on CSWF\uff08\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306b\u95a2\u3059\u308b\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u89e3\u8aac\uff09<\/a>\u300d\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-b40fb5f\" id=\"e38381e383a3e383bce383abe382bae383bbe3839be382b9e382ade383b3e382bde383b3e6b08fe58b95e794bbe3808cbrief-whiteboard-on-cswfefbc88e382abe383ab-2\">\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u52d5\u753b\u300cBrief Whiteboard on CSWF\uff08\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306b\u95a2\u3059\u308b\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u89e3\u8aac\uff09\u300d\u5168\u6587\u7ffb\u8a33\u8a33<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large has-custom-border deb-block deb-block-574d20f\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"568\" src=\"https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-1024x568.png\" alt=\"\" class=\"has-border-color has-aaaaaa-border-color wp-image-42044\" srcset=\"https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-1024x568.png 1024w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-300x166.png 300w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-768x426.png 768w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-1536x852.png 1536w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-450x250.png 450w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-900x499.png 900w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48.png 2012w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-bc4ddcd\" id=\"e5ba8fe69687e381a8e78fbee78ab6e58886e69e90-3\"><strong>\u5e8f\u6587\u3068\u73fe\u72b6\u5206\u6790<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-89adb0c\">\u3053\u3093\u306b\u3061\u306f\u3001\u30c1\u30e3\u30fc\u30eb\u30ba\u30fb\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u3067\u3059\u3002\u3053\u3053\u30b3\u30ed\u30e9\u30c9\u306e\u6696\u304b\u304f\u6674\u308c\u305f\u5834\u6240\u304b\u3089\u30e9\u30a4\u30d6\u914d\u4fe1\u3067\u304a\u5c4a\u3051\u3057\u3066\u3044\u307e\u3059\u3002\u4eca\u56de\u306f\u7c21\u5358\u306a\u30db\u30ef\u30a4\u30c8\u30dc\u30fc\u30c9\u52d5\u753b\u3068\u3057\u3066\u3001\u79c1\u305f\u3061\u306e\u201c\u53cb\u4eba\u201d\u3067\u3042\u308b\u300c\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\uff08Sovereign Wealth Fund\uff09\u300d\u306b\u3064\u3044\u3066\u5c11\u3057\u304a\u8a71\u3057\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-9e9fbc4\">\u3055\u3066\u3001\u73fe\u6642\u70b9\u306b\u304a\u3051\u308b\u30ab\u30eb\u30c0\u30ce\u306e\u8ca1\u52d9\u306e\u72b6\u6cc1\u3067\u3059\u304c\u3001\u3053\u308c\u306f\u300c\u53d7\u52d5\u7684\u30fb\u5358\u4e00\u8cc7\u7523\u30fb\u7121\u7ba1\u7406\u578b\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\uff08\u8ca1\u52d9\uff09\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7acb010\">\n<li class=\"\"><strong>\u53d7\u52d5\u7684\uff08passive\uff09<\/strong>\uff1a\u4f55\u306e\u904b\u7528\u3082\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002<\/li>\n\n\n\n<li class=\"\"><strong>\u5358\u4e00\u8cc7\u7523\uff08single asset\uff09<\/strong>\uff1aADA\u3060\u3051\u3092\u4fdd\u6709\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li class=\"\"><strong>\u7121\u7ba1\u7406\uff08unmanaged\uff09<\/strong>\uff1a\u8ab0\u3082\u7ba1\u7406\u3057\u3066\u304a\u3089\u305a\u3001\u305f\u3060\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u4e0a\u306b\u7f6e\u304b\u308c\u3066\u3044\u308b\u3060\u3051\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-dfe5735\">\u73fe\u5728\u3001\u7d0417\u5104ADA\u304c\u3053\u306e\u3088\u3046\u306a\u5f62\u3067\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u4fdd\u7ba1\u3055\u308c\u3066\u3044\u307e\u3059\uff08\u591a\u5c11\u306e\u5909\u52d5\u3042\u308a\uff09\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-83fbd4c\" id=\"e382abe383abe38380e3838ee4b8bbe6a8a9e38395e382a1e383b3e38389e381aee382b3e383b3e382bbe38397e38388-4\"><strong>\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u306e\u30b3\u30f3\u30bb\u30d7\u30c8<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-6122cbe\">\u300c\u30ab\u30eb\u30c0\u30ce\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\uff08Cardano Sovereign Wealth Fund\uff09\u300d\u306e\u30b3\u30f3\u30bb\u30d7\u30c8\u3068\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u8ee2\u63db\u3059\u308b\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-8cee248\">\n<li class=\"\"><strong>\u80fd\u52d5\u7684\uff08active\uff09<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u8907\u6570\u8cc7\u7523\uff08multi-asset\uff09<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u7ba1\u7406\u3055\u308c\u305f\uff08managed\uff09<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u8ca1\u52d9\uff08treasury\uff09<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-77a8290\">\u3053\u308c\u3092\u300c\u4fa1\u5024\u306e\u03b1\uff08\u30a2\u30eb\u30d5\u30a1\uff09\u300d\u3068\u547c\u3070\u308c\u308b\u8003\u3048\u65b9\u3067\u6349\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u5168\u4f53\u306e\u8cc7\u7523\u4fa1\u5024\u306e\u3046\u3061\u3001\u4f55\uff05\u3092\u904b\u7528\u3059\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u305f\u3068\u3048\u3070<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-5b600fb\">\n<li class=\"\">\u03b1 = 10%<\/li>\n\n\n\n<li class=\"\">\u03b1 = 20%<\/li>\n\n\n\n<li class=\"\">\u03b1 = 30%<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-ab74484\">\u3068\u3044\u3046\u3088\u3046\u306b\u3001\u3069\u308c\u304f\u3089\u3044\u3092\u904b\u7528\u306b\u56de\u3059\u304b\u3092\u6c7a\u3081\u308b\u308f\u3051\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-a558991\" id=\"e383aae382b9e382afe381aee8a696e782b9efbc9ae5ae89e585a8e381a8e4b88de5ae89e5ae9ae381aee38390e383a9e383b3e382b9-5\"><strong>\u30ea\u30b9\u30af\u306e\u8996\u70b9\uff1a\u5b89\u5168\u3068\u4e0d\u5b89\u5b9a\u306e\u30d0\u30e9\u30f3\u30b9<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-f8c085d\">\u73fe\u884c\u306e\u4f53\u5236\u3067\u306f\u3001\u7ba1\u7406\u30ea\u30b9\u30af\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u5358\u4e00\u8cc7\u7523\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002\u305f\u3068\u3048\u3070\u3001ADA\u306e\u4fa1\u683c\u304c\u66b4\u843d\u3057\u305f\u5834\u5408\u3001\u8cfc\u8cb7\u529b\u3082\u6025\u6fc0\u306b\u843d\u3061\u8fbc\u307f\u307e\u3059\u3002\u5b9f\u969b\u306b\u30013\u30c9\u30eb\u3060\u3063\u305fADA\u304c25\u30bb\u30f3\u30c8\u307e\u3067\u4e0b\u843d\u3057\u305f\u3053\u3068\u306b\u3088\u308a\u30015\u5104\u30c9\u30eb\u8fd1\u3044\u8cfc\u8cb7\u529b\u304c\u5931\u308f\u308c\u305f\u4f8b\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-cf20bbb\">\u3064\u307e\u308a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-38657dd\">\n<li class=\"\"><strong>\u53d7\u52d5\u7684<\/strong>\uff1a\u4f55\u3082\u884c\u52d5\u3057\u306a\u3044\uff1d\u30ea\u30b9\u30af\u3082\u30c1\u30e3\u30f3\u30b9\u3082\u306a\u3057<\/li>\n\n\n\n<li class=\"\"><strong>\u80fd\u52d5\u7684<\/strong>\uff1a\u5b9a\u671f\u7684\u306a\u610f\u601d\u6c7a\u5b9a\u306b\u57fa\u3065\u304f\u904b\u7528<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-f4e8334\">\u3053\u306e\u3088\u3046\u306b\u3001\u898b\u308b\u89d2\u5ea6\u306b\u3088\u3063\u3066\u5b89\u5168\u6027\u3084\u4fa1\u5024\u306e\u6349\u3048\u65b9\u306f\u5909\u308f\u3063\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-c66eca5\" id=\"e38388e383ace382b8e383a3e383aae383bce381aee79baee79a84e381a8e381afefbc9f-6\"><strong>\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306e\u76ee\u7684\u3068\u306f\uff1f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-1aa32a3\">\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3092\u3069\u3046\u4f7f\u3046\u304b\u3092\u8003\u3048\u308b\u306b\u3042\u305f\u308a\u3001\u79c1\u305f\u3061\u306f\u307e\u305a\u300c\u76ee\u7684\u300d\u3092\u5b9a\u7fa9\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u305f\u3068\u3048\u3070<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-51896a7\">\n<li class=\"\"><strong>\u8cc7\u7523\u4fa1\u5024\u306e\u6210\u9577\uff08wealth creation\uff09<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-e543851\">\n<li class=\"\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u4fa1\u5024\u3001\u8cfc\u8cb7\u529b\u3092\u9ad8\u3081\u308b\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"\"><strong>\u6d41\u52d5\u6027\u306e\u78ba\u4fdd\uff08liquidity\uff09<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-b0d93f2\">\n<li class=\"\">\u4f7f\u3044\u305f\u3044\u3068\u304d\u306b\u3059\u3050\u306b\u4f7f\u3048\u308b\u8cc7\u7523\u5f62\u614b\u3067\u4fdd\u6709\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"\"><strong>\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u6210\u9577\uff08ecosystem growth\uff09<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-fcfe938\">\n<li class=\"\">\u6295\u8cc7\u304c\u30ab\u30eb\u30c0\u30ce\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u306e\u4fa1\u5024\u5411\u4e0a\u306b\u5bc4\u4e0e\u3059\u308b\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p class=\"deb-block deb-block-625eb43\">\u3053\u3053\u3067\u5177\u4f53\u7684\u306a\u6307\u6a19\uff08KPI\uff09\u3092\u7528\u3044\u3066\u6210\u9577\u3092\u6e2c\u5b9a\u3059\u308b\u3053\u3068\u3082\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-1963cbc\" id=\"kpie381aee585b7e4bd93e4be8b-7\"><strong>KPI\u306e\u5177\u4f53\u4f8b<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-091f1f4\">\n<li class=\"\">\u53d6\u5f15\u30dc\u30ea\u30e5\u30fc\u30e0\uff08transaction volume\uff09<\/li>\n\n\n\n<li class=\"\">TVL\uff08Total Value Locked\uff1a\u30ed\u30c3\u30af\u3055\u308c\u305f\u7dcf\u4fa1\u5024\uff09<\/li>\n\n\n\n<li class=\"\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3068TVL\u306e\u6bd4\u7387<\/li>\n\n\n\n<li class=\"\">\u6708\u9593\u30a2\u30af\u30c6\u30a3\u30d6\u30e6\u30fc\u30b6\u30fc\uff08MAU\uff09<\/li>\n\n\n\n<li class=\"\">\u65e5\u9593\u30a2\u30af\u30c6\u30a3\u30d6\u30e6\u30fc\u30b6\u30fc\uff08DAU\uff09<\/li>\n\n\n\n<li class=\"\">\u305d\u3057\u3066\u3001\u5fc5\u8981\u306a\u3089\u3070ADA\u306e\u4fa1\u683c\u3055\u3048\u3082KPI\u3068\u898b\u306a\u3059\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-4c489d0\">\u3053\u308c\u306f\u79c1\u305f\u3061\u304c\u5206\u6563\u578b\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3068\u3057\u3066\u3001\u81ea\u4e3b\u7684\u306b\u9078\u629e\u3067\u304d\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-84c5f79\" id=\"e688a6e795a5e79a84e38391e383bce38388e3838ae383bce382b7e38383e38397e381a8e381afe4bd95e3818befbc9f-8\"><strong>\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u3068\u306f\u4f55\u304b\uff1f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-05523b7\">\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\uff08Strategic Partnerships\uff09\u3068\u3044\u3046\u8a00\u8449\u3092\u805e\u3044\u305f\u3068\u304d\u306b\u3001\u5c11\u3057\u66d6\u6627\u306b\u611f\u3058\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u3067\u306f\u3001\u3053\u308c\u306f\u4e00\u4f53\u3069\u3046\u3044\u3046\u610f\u5473\u306a\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n\n\n\n<p class=\"deb-block deb-block-240af7e\">\u300c\u3082\u3057\u79c1\u304c\u3042\u306a\u305f\u306e\u8cc7\u7523\u306e\u4e00\u90e8\u3092\u4fdd\u6709\u3057\u3066\u3044\u308c\u3070\u3001\u79c1\u305f\u3061\u306f\u53cb\u4eba\u3067\u3042\u308b\u300d\u3068\u30c1\u30e3\u30fc\u30eb\u30ba\u306f\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-73eb2a0\">\u305f\u3068\u3048\u3070\u3001\u3082\u3057\u79c1\u304c\u3042\u306a\u305f\u306e\u4f1a\u793e\u306e\u682a\u5f0f\u309210%\u6301\u3063\u3066\u3044\u3066\u3001\u3057\u304b\u3082\u53d6\u7de0\u5f79\u4f1a\u306b\u540d\u3092\u9023\u306d\u3066\u3044\u305f\u3089\u2500\u2500\u79c1\u305f\u3061\u306f\u3082\u306f\u3084\u6575\u3067\u306f\u306a\u304f\u3001\u540c\u3058\u8239\u306b\u4e57\u3063\u305f\u30d1\u30fc\u30c8\u30ca\u30fc\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-5826e61\">\u3064\u307e\u308a\u3001\u30ab\u30eb\u30c0\u30ce\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304c\u4ed6\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u8cc7\u7523\u3092\u4fdd\u6709\u3059\u308b\u300c\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u578b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u300d\u3068\u306a\u308c\u3070\u3001\u305d\u308c\u3089\u306e\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3084\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3068\u306e\u63d0\u643a\u304c\u5727\u5012\u7684\u306b\u5bb9\u6613\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-dd57df3\" id=\"e381aae3819ce38193e3828ce381bee381a7e8adb0e8ab96e38195e3828ce381a6e38193e381aae3818be381a3e3819fe381aee3818befbc9f-9\"><strong>\u306a\u305c\u3053\u308c\u307e\u3067\u8b70\u8ad6\u3055\u308c\u3066\u3053\u306a\u304b\u3063\u305f\u306e\u304b\uff1f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-a9277af\">\u7406\u7531\u306f\u5358\u7d14\u3067\u3001\u30ab\u30eb\u30c0\u30ce\u306f\u3053\u308c\u307e\u3067\u305a\u3063\u3068\u300c\u53d7\u52d5\u7684\u30fb\u7121\u7ba1\u7406\u30fb\u5358\u4e00\u8cc7\u7523\u300d\u306e\u4e16\u754c\u306b\u751f\u304d\u3066\u3044\u305f\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-d3afee3\">\u305d\u306e\u305f\u3081\u3001\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u3068\u3057\u3066\u6b21\u306e\u3088\u3046\u306a\u554f\u3044\u3092\u771f\u5263\u306b\u8b70\u8ad6\u3057\u3066\u304d\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-6396bd0\">\n<li class=\"\">\u6211\u3005\u306e\u30b4\u30fc\u30eb\u306f\u4f55\u304b\uff1f<\/li>\n\n\n\n<li class=\"\">\u53d7\u52d5\u7684\u306a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u3001\u80fd\u52d5\u7684\u306a\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u578b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u79fb\u884c\u3059\u308b\u3053\u3068\u306f\u6b63\u3057\u3044\u306e\u304b\uff1f<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-aa7e651\" id=\"e5889de38281e381a6e381aee58f96e3828ae7b584e381bfefbc9acatalyste4bba5e5a496e381b8e381aee694afe587ba-10\"><strong>\u521d\u3081\u3066\u306e\u53d6\u308a\u7d44\u307f\uff1aCatalyst\u4ee5\u5916\u3078\u306e\u652f\u51fa<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-7d80e89\">\u79c1\u305f\u3061\u306f\u4eca\u3001\u521d\u3081\u3066Catalyst\u4ee5\u5916\u306e\u7528\u9014\u306b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u8cc7\u91d1\u3092\u4f7f\u304a\u3046\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u300c\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u6210\u9577\u3078\u306e\u6295\u8cc7\u300d\u306e\u7b2c\u4e00\u6b69\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-0e0091d\">\u591a\u304f\u306e\u4eba\u3005\u306f\u3001\u3053\u308c\u3089\u306e\u8cc7\u91d1\u304cKPI\uff08TVL\u3084\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u91cf\u3001\u30e6\u30fc\u30b6\u30fc\u6570\u306a\u3069\uff09\u306b\u826f\u3044\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3053\u3068\u3092\u671f\u5f85\u3057\u3066\u8ced\u3051\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-0d7ed48\">\u3057\u304b\u3057\u3001\u6ce8\u610f\u304c\u5fc5\u8981\u306a\u306e\u306f<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-e4383c9\">\n<li class=\"\">\u305d\u308c\u3089\u306e\u652f\u51fa\u306f\u3001<strong>\u76f4\u63a5\u7684\u306a\u8ca1\u7523\u7684\u5229\u76ca\uff08\u5229\u76ca\uff1d\u5bcc\uff09\u3092\u751f\u3080\u308f\u3051\u3067\u306f\u306a\u3044<\/strong><\/li>\n\n\n\n<li class=\"\">ADA\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u4f9d\u5b58\u3059\u308b\u9593\u63a5\u7684\u306a\u5f71\u97ff\u306b\u3068\u3069\u307e\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b<\/li>\n\n\n\n<li class=\"\">\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u3084\u3001\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5185\u306e\u5373\u6642\u7684\u306a\u6d41\u52d5\u6027\u3092\u751f\u307f\u51fa\u3059\u3068\u306f\u9650\u3089\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-a73cb84\" id=\"defie68890e995b7e381aee58fafe883bde680a7e381a8e78fbee59ca8e381aee588b6e99990-11\"><strong>DeFi\u6210\u9577\u306e\u53ef\u80fd\u6027\u3068\u73fe\u5728\u306e\u5236\u9650<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-388d2ca\">\u30ab\u30eb\u30c0\u30ce\u306eDeFi\u6210\u9577\u3092\u8003\u3048\u308b\u3068\u304d\u3001\u91cd\u8981\u306a\u8981\u7d20\u304c\u3044\u304f\u3064\u304b\u3042\u308a\u307e\u3059\uff08\u8a73\u7d30\u306f\u672c\u52d5\u753b\u3067\u306f\u7701\u7565\uff09\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-c567437\">\u3053\u3053\u3067\u306e\u57fa\u672c\u7684\u306a\u554f\u984c\u63d0\u8d77\u306f\u6b21\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-b89aded\">\n<p class=\"deb-block deb-block-b9ab5da\">\u5358\u306a\u308b\u52a9\u6210\u91d1\u3084\u5e74\u6b21\u306e\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u652f\u63f4\u3067\u306f\u306a\u304f\u3001\u300c\u771f\u306e\u4e3b\u6a29\u30d5\u30a1\u30f3\u30c9\u300d\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u3092\u884c\u3046\u3079\u304d\u3067\u306f\u306a\u3044\u304b\uff1f<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-f5e3c49\">\u3053\u3053\u3067\u3001\u5177\u4f53\u7684\u306b\u8b70\u8ad6\u3055\u308c\u3066\u3044\u308b\u306e\u304c\u300c1\u5104\u30c9\u30eb\u76f8\u5f53\u306e\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u300d\u3068\u3044\u3046\u69cb\u60f3\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-47fb8f6\" id=\"e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381a8e8b387e794a3e382bfe382a4e38397e381aee58886e9a19e-12\"><strong>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3068\u8cc7\u7523\u30bf\u30a4\u30d7\u306e\u5206\u985e<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-5e05a0b\">\u30ab\u30eb\u30c0\u30ce\u4e0a\u306b\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u7570\u306a\u308b\u30bf\u30a4\u30d7\u306e\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3084\u8cc7\u7523\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-73f8688\">\n<li class=\"\"><strong>CDP\u578b\uff08\u62c5\u4fdd\u578b\uff09<\/strong>\uff1a\u4f8b\uff1aIUSD<\/li>\n\n\n\n<li class=\"\"><strong>\u30d5\u30eb\u30fb\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u578b<\/strong>\uff1a\u4f8b\uff1aJED<\/li>\n\n\n\n<li class=\"\"><strong>\u8cc7\u7523\u62c5\u4fdd\u578b<\/strong>\uff1a\u4f8b\uff1aUSDM\u3001USDA<\/li>\n\n\n\n<li class=\"\"><strong>\u975e\u30b9\u30c6\u30fc\u30d6\u30eb\u8cc7\u7523\uff08\u30c7\u30b8\u30bf\u30eb\u30b4\u30fc\u30eb\u30c9\uff09<\/strong>\uff1a\u4f8b\uff1aBitcoin<\/li>\n<\/ol>\n\n\n\n<p class=\"deb-block deb-block-d3de361\">\u305d\u308c\u305e\u308c\u306b\u56fa\u6709\u306e\u4fa1\u5024\u63d0\u6848\u3068\u7528\u9014\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-82a709d\" id=\"e382a2e382afe38386e382a3e38396e9818be794a8e59e8be38388e383ace382b8e383a3e383aae383bce381b8e381aee7a7bbe8a18cefbc9a3e382b9e38386e38383-13\"><strong>\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u578b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3078\u306e\u79fb\u884c\uff1a3\u30b9\u30c6\u30c3\u30d7<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-af9d986\">\u79c1\u305f\u3061\u304c\u300c\u30a2\u30af\u30c6\u30a3\u30d6\u306a\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u904b\u7528\u578b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u300d\u3078\u79fb\u884c\u3059\u308b\u5834\u5408\u3001\u4ee5\u4e0b\u306e3\u6bb5\u968e\u306e\u30d7\u30ed\u30bb\u30b9\u3092\u8e0f\u3080\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-cfd75ed\"><strong>\u2460 \u58f2\u5374\uff08Divestment\uff09<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-e11d707\">\u307e\u305a\u6700\u521d\u306b\u3001ADA\u306e\u4e00\u90e8\uff08\u3053\u3053\u3067\u306f\u300cX ADA\u300d\u3068\u8868\u73fe\uff09\u304c\u58f2\u5374\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-71b4e07\">\n<li class=\"\">\u901a\u5e38\u306f<strong>\u6642\u9593\u52a0\u91cd\u5e73\u5747\u4fa1\u683c\uff08TWAP\uff09\u3084OTC\uff08\u76f8\u5bfe\u53d6\u5f15\uff09<\/strong>\u3092\u7528\u3044\u3066\u5b9f\u884c<\/li>\n\n\n\n<li class=\"\">\u3053\u308c\u306f\u300c\u30a2\u30a4\u30b9\u30d0\u30fc\u30ae\u30f3\u30b0\uff08Iceberging\uff09\u300d\u3068\u547c\u3070\u308c\u308b\u624b\u6cd5\u3067\u3001\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u3092\u6700\u5c0f\u9650\u306b\u6291\u3048\u306a\u304c\u3089\u5927\u898f\u6a21\u306a\u8cc7\u7523\u3092\u58f2\u5374\u3059\u308b\u6280\u8853<\/li>\n\n\n\n<li class=\"\">\u4eee\u60f3\u901a\u8ca8\u696d\u754c\u3067\u306f\u4e00\u822c\u7684\u306a\u6163\u884c\u3067\u3042\u308a\u3001\u591a\u304f\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3084\u30d5\u30a1\u30f3\u30c9\u304c\u65e5\u5e38\u7684\u306b\u5b9f\u65bd<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-13e8ef8\">\u4f8b\u3048\u3070\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u7d0430%\u306f\u6a5f\u95a2\u6295\u8cc7\u5bb6\u304c\u4fdd\u6709\u3057\u3066\u304a\u308a\u3001\u4e2d\u306b\u306f100\u5104\u30c9\u30eb\u8d85\u3092\u4fdd\u6709\u3059\u308b\u30d7\u30ec\u30a4\u30e4\u30fc\u3082\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-721e6cd\">\n<li class=\"\">\u5e02\u5834\u3078\u306e\u5f71\u97ff\u3092\u6700\u5c0f\u9650\u306b\u3059\u308b\u305f\u3081\u306b\u306f\u3001<strong>30\u301c90\u65e5\u7a0b\u5ea6\u306e\u671f\u9593<\/strong>\u304c\u5fc5\u8981\u306b\u306a\u308b\u53ef\u80fd\u6027<\/li>\n\n\n\n<li class=\"\">\u307e\u305a\u306fOTC\u30c7\u30b9\u30af\uff08\u76f8\u5bfe\u53d6\u5f15\u306e\u76f8\u624b\uff09\u3092\u4f7f\u3044\u3001\u6570\u30f6\u6708\u4ee5\u5185\u306b\u5927\u53e3\u3067\u8cb7\u3044\u3092\u5165\u308c\u308b\u4e88\u5b9a\u306e\u76f8\u624b\u3068\u8abf\u6574<\/li>\n\n\n\n<li class=\"\">\u3082\u3057OTC\u304c\u98fd\u548c\u3057\u305f\u5834\u5408\u306b\u306f\u3001\u53d6\u5f15\u6240\u5e02\u5834\u306b\u5165\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-6a87874\">\u3053\u306e\u3088\u3046\u306a\u58f2\u5374\u696d\u52d9\u306f\u5c02\u9580\u696d\u8005\u304c\u62c5\u3044\u3001\u624b\u6570\u6599\uff080.25\u301c1%\uff09\u3092\u5fb4\u53ce\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-261625b\"><strong>\u2461 \u8cfc\u5165\uff08Purchase\uff09<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-7584189\">ADA\u3092\u58f2\u5374\u3057\u3066\u5f97\u305f\u8cc7\u91d1\uff08\u4f8b\uff1a\u73fe\u91d1\u3084USDC\u306a\u3069\uff09\u3092\u7528\u3044\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u300c\u4ee3\u66ff\u8cc7\u7523\uff08alternative assets\uff09\u300d\u3092\u8cfc\u5165\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-0517144\">\n<li class=\"\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\uff08USDM\u3001USDA\u3001IUSD\u3001JED\u306a\u3069\uff09<\/li>\n\n\n\n<li class=\"\">BTC<\/li>\n\n\n\n<li class=\"\">\u4ed6\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u30c8\u30fc\u30af\u30f3<\/li>\n\n\n\n<li class=\"\">\u30ea\u30a2\u30eb\u30ef\u30fc\u30eb\u30c9\u30a2\u30bb\u30c3\u30c8\uff08\u4f8b\uff1a\u4e0d\u52d5\u7523\u30ed\u30fc\u30f3\u3084\u4fdd\u967a\u5951\u7d04\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-7c9797f\"><strong>\u2462 \u914d\u7f6e\uff08Placement\uff09<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-23168b1\">\u8cfc\u5165\u3057\u305f\u8cc7\u7523\u3092\u3001\u30ab\u30eb\u30c0\u30ce\u306eDeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5185\u306b\u914d\u7f6e\u30fb\u6d3b\u7528\u3057\u307e\u3059\u3002\u3053\u308c\u304c\u3044\u308f\u3086\u308b\u300c\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u300d\u90e8\u5206\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f0e7d94\">\n<li class=\"\"><strong>\u5229\u56de\u308a\uff08Yield\uff09\u3068\u6210\u9577\uff08Growth\uff09<\/strong>\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u3068\u308b\u3053\u3068\u304c\u9375<\/li>\n\n\n\n<li class=\"\">\u5229\u56de\u308a\uff1dDeFi\u3067\u5f97\u3089\u308c\u308b\u53ce\u76ca<\/li>\n\n\n\n<li class=\"\">\u6210\u9577\uff1d\u30a2\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\u3084\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u3078\u306e\u6ce2\u53ca\u52b9\u679c<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-88c09dd\" id=\"e5ae9fe8a18ce4b8bbe4bd93efbc9ae382a2e382bbe38383e38388e3839ee3838de383bce382b8e383a3e383bce381a8e688a6e795a5e7ad96e5ae9a-14\"><strong>\u5b9f\u884c\u4e3b\u4f53\uff1a\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3068\u6226\u7565\u7b56\u5b9a<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-9355137\">\u3053\u306e\u4e00\u9023\u306e\u904b\u7528\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u4f53\u5236\u3067\u884c\u308f\u308c\u307e\u3059\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-d214c52\">\n<li class=\"\">\u30d7\u30ed\u306e<strong>\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\uff08\u8cc7\u7523\u7ba1\u7406\u4f1a\u793e<\/strong>\uff09\u3068\u5951\u7d04<\/li>\n\n\n\n<li class=\"\">\u6bce\u56db\u534a\u671f\u3001\u307e\u305f\u306f\u6bce\u5e74\u306e<strong>\u6295\u8cc7\u6226\u7565\uff08\u914d\u5206\u6bd4\u7387\u3084\u8cc7\u7523\u30af\u30e9\u30b9\uff09<\/strong>\u3092\u7b56\u5b9a<\/li>\n\n\n\n<li class=\"\">\u5229\u56de\u308a\u6a5f\u4f1a\u306e\u63a2\u7d22\u3068\u5c55\u958b\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-89034bc\">\n<li class=\"\">\u4f8b\uff1a<strong>\u4fdd\u967a\u696d\u754c<\/strong>\u306b\u304a\u3051\u308b\u30ea\u30a2\u30eb\u30ef\u30fc\u30eb\u30c9\u30a2\u30bb\u30c3\u30c8\uff08RWA\uff09<\/li>\n\n\n\n<li class=\"\">\u4f8b\uff1aSpaceX\u3068\u306e\u6253\u3061\u4e0a\u3052\u4fdd\u967a\u30e2\u30c7\u30eb\u2500\u2500\u65b0\u3057\u3044\u4fdd\u967a\u8a2d\u8a08\u3067\u9ad8\u3044\u5229\u56de\u308a\u3092\u5f97\u308b<\/li>\n\n\n\n<li class=\"\">\u4f8b\uff1a\u30ed\u30fc\u30f3\u306e\u30c8\u30fc\u30af\u30f3\u5316\u2192\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u5316\u2192DeFi\u904b\u7528<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-1cee6b6\" id=\"e38393e38383e38388e382b3e382a4e383b3e381a8e381aee688a6e795a5e79a84e38391e383bce38388e3838ae383bce382b7e38383e38397-15\"><strong>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u306e\u6226\u7565\u7684\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-6c04888\">\n<li class=\"\">\u30ab\u30eb\u30c0\u30ce\u304c\u300c\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3DeFi\u300d\u306b\u5168\u9762\u7684\u306b\u53d6\u308a\u7d44\u3080\u3068\u3044\u3046\u30b7\u30ca\u30ea\u30aa<\/li>\n\n\n\n<li class=\"\">\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304cBTC\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u3067\u3001\u305d\u306e\u610f\u56f3\u3092\u5e02\u5834\u306b\u660e\u78ba\u306b\u793a\u3059\u3053\u3068\u304c\u3067\u304d\u308b<\/li>\n\n\n\n<li class=\"\">BTC\u8cc7\u7523\u306e\u5229\u56de\u308a\u304c\u30ab\u30eb\u30c0\u30ce\u4e0a\u3067\u751f\u307e\u308c\u308b\u3053\u3068\u3067\u3001BTC\u4fdd\u6709\u8005\u306b\u3068\u3063\u3066\u306e\u9b45\u529b\u3082\u5411\u4e0a<\/li>\n\n\n\n<li class=\"\">\u7d50\u679c\u3068\u3057\u3066\u3001\u30ab\u30eb\u30c0\u30ce\u306f\u300c\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3DeFi\u306e\u4e3b\u8981\u306a\u821e\u53f0\u300d\u3068\u3057\u3066\u53f0\u982d\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-1e4d662\" id=\"e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381aee5ae9fe6858be381a8e382abe383abe38380e3838ee381aee7ab8be381a1e4bd8de7bdae-16\"><strong>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u5b9f\u614b\u3068\u30ab\u30eb\u30c0\u30ce\u306e\u7acb\u3061\u4f4d\u7f6e<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-6600046\">\u73fe\u5728\u3001\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u696d\u754c\u3067\u306f<strong>\u8cc7\u7523\u62c5\u4fdd\u578b\uff08Asset-backed\uff09<\/strong>\u304c\u4e3b\u6d41\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-d288526\">\n<li class=\"\">\u6bce\u6708<strong>\u6570\u5146\u30c9\u30eb\u898f\u6a21<\/strong>\u306e\u53d6\u5f15\u304c\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3067\u884c\u308f\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li class=\"\">\u4e00\u65b9\u3067\u3001<strong>\u30ab\u30eb\u30c0\u30ce\u4e0a\u3067\u767a\u884c\u3055\u308c\u305f\u8cc7\u7523\u62c5\u4fdd\u578b\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306f\u3001\u305f\u3063\u305f3,300\u4e07\u30c9\u30eb\u5206<\/strong>\u3057\u304b\u3042\u308a\u307e\u305b\u3093\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-9dd8820\">\u305d\u306e\u6bd4\u7387\u306f\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-057e085\">\n<li class=\"\"><strong>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\/TVL\u6bd4\u7387<\/strong>\uff08\u8cc7\u7523\u306b\u5360\u3081\u308b\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u5272\u5408\uff09\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-12ee12c\">\n<li class=\"\"><strong>\u30ab\u30eb\u30c0\u30ce<\/strong>\uff1a9.8%<\/li>\n\n\n\n<li class=\"\"><strong>\u30bd\u30e9\u30ca<\/strong>\uff1a110%<\/li>\n\n\n\n<li class=\"\"><strong>\u30a4\u30fc\u30b5\u30ea\u30a2\u30e0<\/strong>\uff1a198%<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-e46064a\">\ud83d\udc49 \u3053\u306e\u6570\u5b57\u306f\u30ab\u30eb\u30c0\u30ce\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u304c\u3044\u304b\u306b\u9045\u308c\u3066\u3044\u308b\u304b\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-796836b\" id=\"e382a2e383abe382b4e383aae382bae383a0e59e8be382b9e38386e383bce38396e383abe382b3e382a4e383b3e381aee588a9e782b9e381a8e99990e7958c-17\"><strong>\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u578b\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u5229\u70b9\u3068\u9650\u754c<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-2794d5c\">\u4e00\u65b9\u3067\u3001\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u578b\uff08\u4f8b\uff1aJED\uff09\u306f\u6b21\u306e\u3088\u3046\u306a\u7279\u5fb4\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-2bf7d54\"><strong>\u2705 \u5229\u70b9<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-ba4c51a\">\n<li class=\"\"><strong>\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u304c\u306a\u3044<\/strong>\uff08\u5e02\u5834\u3067\u8cb7\u3046\u5fc5\u8981\u304c\u306a\u3044\uff09<\/li>\n\n\n\n<li class=\"\"><strong>\u62c5\u4fdd\u306e\u7ba1\u7406\u304c\u3059\u3079\u3066\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u3067\u5b8c\u7d50<\/strong>\uff08\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-38f6202\"><strong>\u274c \u8ab2\u984c<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-e3906df\">\n<li class=\"\"><strong>\u9ad8\u30b3\u30b9\u30c8<\/strong>\uff1a1\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u51fa\u3059\u306e\u306b\u30011\u30c9\u30eb\u4ee5\u4e0a\u306e\u62c5\u4fdd\u304c\u5fc5\u8981<\/li>\n\n\n\n<li class=\"\"><strong>\u30aa\u30fc\u30d0\u30fc\u30b3\u30e9\u30c6\u30e9\u30eb\uff08\u904e\u5270\u62c5\u4fdd\uff09\u5fc5\u9808<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u306e\u4fe1\u983c\u6027\u306b\u4f9d\u5b58<\/strong><\/li>\n\n\n\n<li class=\"\">\u767a\u884c\u8005\u306e\u4fe1\u983c\u3092\u524d\u63d0\u3068\u3057\u305f\u300c<strong>\u4fe1\u7528\u30d9\u30fc\u30b9\u8cc7\u7523<\/strong>\u300d<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-ae8951a\" id=\"e588a9e79b8ae381afe381a9e38186e689b1e38186e381aee3818befbc9fefbc88e5868de68a95e8b387-or-adae8b3bce585a5efbc89-18\"><strong>\u5229\u76ca\u306f\u3069\u3046\u6271\u3046\u306e\u304b\uff1f\uff08\u518d\u6295\u8cc7 or ADA\u8cfc\u5165\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-782ea76\">\u3067\u306f\u3001DeFi\u306a\u3069\u3067\u5f97\u3089\u308c\u305f<strong>\u53ce\u76ca\uff08\u5229\u76ca\uff09<\/strong>\u306f\u3069\u3046\u3059\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n\n\n\n<p class=\"deb-block deb-block-c51b15a\">\u9078\u629e\u80a2\u306f\u4e3b\u306b\u4ee5\u4e0b\u306e2\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-9d80be7\">\n<li class=\"\"><strong>\u518d\u6295\u8cc7<\/strong>\uff1a\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f21001d\">\n<li class=\"\">\u5229\u76ca\u3067\u65b0\u305f\u306a\u8cc7\u7523\u3092\u8cfc\u5165\u3057\u3001DeFi\u306b\u518d\u914d\u7f6e<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"\"><strong>ADA\u306e\u8cb7\u3044\u623b\u3057<\/strong>\uff1a\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f96b5b0\">\n<li class=\"\">\u5229\u76ca\u3067ADA\u3092\u8cfc\u5165\u3057\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u623b\u3059\uff08Buyback and Return\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p class=\"deb-block deb-block-17eb181\">\u3069\u3061\u3089\u3092\u9078\u3076\u304b\u306f\u3001\u305d\u306e\u6642\u70b9\u306e\u6226\u7565\u3084\u72b6\u6cc1\u306b\u5fdc\u3058\u3066\u5224\u65ad\u3055\u308c\u308b\u3079\u304d\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-487ffe8\" id=\"e7b584e7b994e383a2e38387e383abefbc9ae383ace382a4e383a4e383bce38389e383bbe382ace38390e3838ae383b3e382b9e6a78be980a0-19\"><strong>\u7d44\u7e54\u30e2\u30c7\u30eb\uff1a\u30ec\u30a4\u30e4\u30fc\u30c9\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-8e6949c\">A16Z\uff08\u30a2\u30f3\u30c9\u30ea\u30fc\u30bb\u30f3\u30fb\u30db\u30ed\u30a6\u30a3\u30c3\u30c4\uff09\u306e\u30d6\u30ed\u30b0\u8a18\u4e8b\u306b\u3082\u3042\u308b\u3088\u3046\u306b\u3001\u3053\u308c\u304b\u3089\u306e\u7d44\u7e54\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u69cb\u6210\u304c\u5fc5\u8981\u3067\u3059\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-50c0c25\">\n<li class=\"\"><strong>\u30cf\u30a4\u30d6\u30ea\u30c3\u30c9\u578b\u7d44\u7e54\uff08Cybernetic Organizations\uff09<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-0398bde\">\n<li class=\"\">\u4e00\u90e8\u306f\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u3067\u904b\u55b6<\/li>\n\n\n\n<li class=\"\">\u4e00\u90e8\u306f\u73fe\u5b9f\u4e16\u754c\u306e\u6cd5\u4eba\uff08\u30df\u30fc\u30c8\u30b9\u30da\u30fc\u30b9\uff09\u3067\u904b\u55b6<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-5c5a18f\">\u3053\u306e\u3088\u3046\u306a\u300c<strong>\u30ec\u30a4\u30e4\u30fc\u69cb\u9020<\/strong>\u300d\u304c\u7406\u60f3\u7684\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-4bc88d8\" id=\"e5ae9fe99a9be381aee7b584e7b994e6a78be68890e381aee4be8befbc88dunae383a2e38387e383abefbc89-20\"><strong>\u5b9f\u969b\u306e\u7d44\u7e54\u69cb\u6210\u306e\u4f8b\uff08DUNA\u30e2\u30c7\u30eb\uff09<\/strong><\/h5>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f9a3a66\">\n<li class=\"\"><strong>DAO\u69cb\u9020<\/strong>\uff08\u5206\u6563\u578b\u81ea\u5f8b\u7d44\u7e54\uff09\u3092\u6700\u4e0a\u4f4d\u306b\u8a2d\u7f6e<\/li>\n\n\n\n<li class=\"\">DAO\u306e\u4e0b\u306b\u3001BVI\uff08\u82f1\u9818\u30f4\u30a1\u30fc\u30b8\u30f3\u8af8\u5cf6\uff09\u3084\u30b1\u30a4\u30de\u30f3\u306a\u3069\u306e<strong>\u30aa\u30d5\u30b7\u30e7\u30a2\u6cd5\u4eba<\/strong>\u3092\u914d\u7f6e<\/li>\n\n\n\n<li class=\"\">\u3053\u306e\u30aa\u30d5\u30b7\u30e7\u30a2\u6cd5\u4eba\u304cADA\u3092\u4fdd\u6709<\/li>\n\n\n\n<li class=\"\">DAO\u306e<strong>\u30ac\u30d0\u30cb\u30f3\u30b0\u30dc\u30fc\u30c9<\/strong>\u304c\u3001\u7ba1\u7406\u8005\uff08Administrator\uff09\u3092\u4efb\u547d<\/li>\n\n\n\n<li class=\"\">\u7ba1\u7406\u8005\u304c\u3001\u8cc7\u7523\u904b\u7528\u4f1a\u793e\uff08Asset Manager\uff09\u3068\u5951\u7d04<\/li>\n\n\n\n<li class=\"\">\u904b\u7528\u30eb\u30fc\u30eb\uff08\u6210\u9577\u3092\u91cd\u8996\u3059\u308b\u304b\u3001\u5229\u56de\u308a\u3092\u91cd\u8996\u3059\u308b\u304b\uff09\u3092\u660e\u8a18\u3057\u305f\u300c\u76ee\u8ad6\u898b\u66f8\uff08Prospectus\uff09\u300d\u3092\u4f5c\u6210<\/li>\n\n\n\n<li class=\"\">\u5229\u76ca\u304c\u51fa\u305f\u3089\uff1a\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-ab7e754\">\n<li class=\"\">ADA\u3092\u8cb7\u3044\u623b\u3059<\/li>\n\n\n\n<li class=\"\">\u3082\u3057\u304f\u306f\u30d5\u30a1\u30f3\u30c9\u306b\u518d\u6295\u5165\uff08recycle\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-b44c072\" id=\"e79ba3e69fbbe4bd93e588b6e381a8e9808fe6988ee680a7e381aee7a2bae4bf9d-21\"><strong>\u76e3\u67fb\u4f53\u5236\u3068\u900f\u660e\u6027\u306e\u78ba\u4fdd<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-6d67fe5\">\u3053\u306e\u3088\u3046\u306a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u7ba1\u7406\u69cb\u9020\u306b\u304a\u3044\u3066\u306f\u3001<strong>\u76e3\u67fb\uff08Audit\uff09<\/strong>\u306e\u5c64\u304c\u975e\u5e38\u306b\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-e5a0083\">\n<li class=\"\">\u30ac\u30d0\u30cb\u30f3\u30b0\u30dc\u30fc\u30c9\u306e\u4e0b\u306b<strong>\u76e3\u67fb\u30ec\u30a4\u30e4\u30fc<\/strong>\u3092\u8a2d\u7f6e<\/li>\n\n\n\n<li class=\"\">\u3059\u3079\u3066\u306e\u904b\u7528\u3084\u53d6\u5f15\u3001\u5229\u76ca\u306e\u51e6\u7406\u304c<strong>\u6b63\u3057\u304f\u884c\u308f\u308c\u3066\u3044\u308b\u304b<\/strong>\u3092\u5b9a\u671f\u7684\u306b\u30c1\u30a7\u30c3\u30af<\/li>\n\n\n\n<li class=\"\">\u7b2c\u4e09\u8005\u306e\u76e3\u67fb\u6a5f\u95a2\u306b\u3088\u308a\u3001\u30d7\u30ed\u30bb\u30b9\u5168\u4f53\u306e<strong>\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u3068\u900f\u660e\u6027<\/strong>\u304c\u78ba\u4fdd\u3055\u308c\u308b<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-daabf3f\" id=\"e6b885e7ae97efbc88liquidationefbc89e381a8adae381b8e381aee5bea9e5b8b0-22\"><strong>\u6e05\u7b97\uff08Liquidation\uff09\u3068ADA\u3078\u306e\u5fa9\u5e30<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-3eba1a5\">\u904b\u7528\u3055\u308c\u305f\u8cc7\u7523\u3092\u6700\u7d42\u7684\u306bADA\u306b\u623b\u3059\u305f\u3081\u306b\u306f\u3001<strong>\u30d7\u30ed\u30c8\u30b3\u30eb\u30d9\u30fc\u30b9\u306e\u6e05\u7b97\u6a5f\u69cb<\/strong>\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-3a18022\">\n<li class=\"\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306a\u3069\u306e\u8cc7\u7523\u3092\u58f2\u5374<\/li>\n\n\n\n<li class=\"\">ADA\u3092\u8cb7\u3044\u623b\u3057<\/li>\n\n\n\n<li class=\"\">\u305d\u308c\u3092\u518d\u3073\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u623b\u3059<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-02bf76e\">\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306b\u3088\u308a\u3001\u300c\u5229\u76ca\u306e\u5faa\u74b0\u300d\u300c\u03b1\u306e\u8abf\u6574\u300d\u300c\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306e\u5b89\u5168\u6027\u306e\u7dad\u6301\u300d\u304c\u5b9f\u73fe\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-5e01667\" id=\"e58b95e79a84ceb1e381aee8a8ade5ae9ae381a8e68890e995b7e381aee98193e7ad8b-23\"><strong>\u52d5\u7684\u03b1\u306e\u8a2d\u5b9a\u3068\u6210\u9577\u306e\u9053\u7b4b<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-ca475b3\">\u305f\u3068\u3048\u3070\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-2bb3d02\">\n<li class=\"\">\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b<strong>17\u5104ADA<\/strong>\u3042\u308b\u3068\u3059\u308b<\/li>\n\n\n\n<li class=\"\">\u305d\u306e\u3046\u3061<strong>10%\uff081.7\u5104ADA\uff09<\/strong>\u3092\u03b1\u3068\u3057\u3066\u904b\u7528\u306b\u56de\u3059<\/li>\n\n\n\n<li class=\"\">\u7fcc\u5e74\u3001\u300c\u03b1\u309220%\u306b\u5897\u3084\u3059\u300d\u3053\u3068\u3082\u53ef\u80fd<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-3264a70\">\u3053\u306e\u3088\u3046\u306b\u3057\u3066\u3001<strong>\u53d7\u52d5\u7684\u30fb\u5358\u4e00\u8cc7\u7523\u578b<\/strong>\u304b\u3089\u5f90\u3005\u306b<strong>\u80fd\u52d5\u7684\u30fb\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u578b<\/strong>\u3078\u3068\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5168\u4f53\u3092\u9032\u5316\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-54a76fb\" id=\"e688a6e795a5e79a84e383a1e383aae38383e38388e381a8e7b5b1e6b2bbe6a8a9e381aee5bcb7e58c96-24\"><strong>\u6226\u7565\u7684\u30e1\u30ea\u30c3\u30c8\u3068\u7d71\u6cbb\u6a29\u306e\u5f37\u5316<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-54746e4\">\u3053\u306e\u69cb\u9020\u306b\u3088\u308a\u3001\u30ab\u30eb\u30c0\u30ce\u306f\u4ee5\u4e0b\u306e\u3053\u3068\u3092\u5b9f\u73fe\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-b85dd89\">\n<li class=\"\">\u4ed6\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306b\u5bfe\u3059\u308b<strong>\u6226\u7565\u7684\u51fa\u8cc7<\/strong>\uff08\u682a\u5f0f\u30fb\u30c8\u30fc\u30af\u30f3\u306a\u3069\uff09<\/li>\n\n\n\n<li class=\"\">DeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3078\u306e<strong>\u672c\u683c\u7684\u306a\u6d41\u52d5\u6027\u4f9b\u7d66<\/strong><\/li>\n\n\n\n<li class=\"\">\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u91cf\u3068TVL\u306e<strong>\u5b9f\u8cea\u7684\u306a\u62e1\u5927<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u5e74\u52295\u301c15%<\/strong>\u306e\u30ea\u30bf\u30fc\u30f3\u5275\u51fa\uff08\u30ea\u30b9\u30af\u8a55\u4fa1\u306b\u57fa\u3065\u304f\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b324682\">\u3053\u308c\u306f\u30ab\u30eb\u30c0\u30ce\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u3068\u3063\u3066\u3001<strong>\u6301\u7d9a\u7684\u3067\u5f37\u529b\u306a\u53ce\u76ca\u6e90<\/strong>\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-7ebbf8d\" id=\"e5b086e69da5e79a84e381abe4b88de58fafe981bfe381a8e381aae3828be3839ee383abe38381e382a2e382bbe38383e38388e58c96-25\"><strong>\u5c06\u6765\u7684\u306b\u4e0d\u53ef\u907f\u3068\u306a\u308b\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u5316<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-4b1ae83\">\u4eee\u306b\u53d7\u52d5\u7684\u306a\u904b\u7528\u306e\u307e\u307e\u3067\u3042\u3063\u3066\u3082\u3001\u30ab\u30eb\u30c0\u30ce\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306f<strong>\u3044\u305a\u308c\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u306b\u306a\u308b\u904b\u547d\u306b\u3042\u308a\u307e\u3059<\/strong>\u3002\u305d\u306e\u7406\u7531\u306f\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-52f5338\">\n<li class=\"\"><strong>Babel\u30d5\u30a3\u30fc\uff08Babel Fees\uff09<\/strong>\u306e\u5b9f\u88c5<\/li>\n\n\n\n<li class=\"\"><strong>Midnight\uff08AVS\u6a5f\u80fd\uff09<\/strong>\u3068\u306e\u7d71\u5408<\/li>\n\n\n\n<li class=\"\"><strong>Glacier Drops<\/strong>\u306a\u3069\u306b\u3088\u308b\u30c8\u30fc\u30af\u30f3\u914d\u5e03\u304c\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u5230\u9054\u3059\u308b\u30b1\u30fc\u30b9<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-faf482b\">\u307e\u305f\u3001Bitcoin DeFi\u304c\u666e\u53ca\u3057\u305f\u5834\u5408\u3001\u305f\u3068\u3048\u3070\u300c\u53d6\u5f15\u7a0e\u306e20%\u300d\u304c\u81ea\u52d5\u7684\u306b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u5165\u308b\u3068\u3044\u3063\u305f\u4ed5\u7d44\u307f\u304c\u751f\u307e\u308c\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-2463119\">\u3064\u307e\u308a\u3001<strong>\u591a\u69d8\u306a\u8cc7\u7523\u304c\u81ea\u7136\u306b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3078\u84c4\u7a4d\u3055\u308c\u3066\u3044\u304f<\/strong>\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-909e7c0\" id=\"e78fbee78ab6e381aee99990e7958cefbc9ae7aea1e79086e382b7e382b9e38386e383a0e3818ce5ad98e59ca8e38197e381aae38184-26\"><strong>\u73fe\u72b6\u306e\u9650\u754c\uff1a\u7ba1\u7406\u30b7\u30b9\u30c6\u30e0\u304c\u5b58\u5728\u3057\u306a\u3044<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-78b315d\">\u73fe\u6642\u70b9\u3067\u306f\u3001\u3053\u308c\u3089\u306e\u30de\u30eb\u30c1\u30a2\u30bb\u30c3\u30c8\u3092<strong>\u7ba1\u7406\u30fb\u904b\u7528\u3059\u308b\u4ed5\u7d44\u307f\u304c\u5b58\u5728\u3057\u307e\u305b\u3093<\/strong>\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-208e796\">\u305f\u3068\u3048\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5185\u306e\u8cc7\u7523\u3092\u58f2\u308a\u305f\u3044\u3068\u601d\u3063\u3066\u3082\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-6ec777b\">\n<li class=\"\">\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u304b\u3089\u53d6\u308a\u51fa\u3057\u3066<\/li>\n\n\n\n<li class=\"\">\u5225\u306e\u7ba1\u7406\u6cd5\u4eba\u306b\u6e21\u3057<\/li>\n\n\n\n<li class=\"\">\u305d\u306e\u6cd5\u4eba\u304c\u5e02\u5834\u3067\u58f2\u5374<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-73aad72\">\u2500\u2500\u3068\u3044\u3046\u30d7\u30ed\u30bb\u30b9\u304c\u5fc5\u8981\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-2f7421d\">\u3057\u304b\u3057\u3001\u524d\u8ff0\u306e\u3088\u3046\u306a\u69cb\u9020\u3092\u7528\u3044\u308c\u3070\u3001\u3053\u308c\u3092<strong>\u81ea\u7531\u304b\u3064\u52b9\u7387\u7684\u306b<\/strong>\u884c\u3046\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-88a621d\">\n<li class=\"\">\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306e\u6570\u306f<strong>\u4efb\u610f\u306b\u8ffd\u52a0\u53ef\u80fd<\/strong><\/li>\n\n\n\n<li class=\"\">\u30ac\u30d0\u30cb\u30f3\u30b0\u30dc\u30fc\u30c9\u306f<strong>\u3042\u3089\u3086\u308b\u30ed\u30b8\u30c3\u30af\u3067\u9078\u51fa\u53ef\u80fd<\/strong><\/li>\n\n\n\n<li class=\"\">\u30aa\u30d5\u30b7\u30e7\u30a2\u69cb\u9020\u3092\u7528\u3044\u308b\u3053\u3068\u3067<strong>\u7a0e\u5236\u9762\u3067\u3082\u6709\u5229<\/strong><\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-176f2c3\" id=\"e4bb96e381aee4b8bbe8a681e38397e383ade382b8e382a7e382afe38388e381afe38199e381a7e381abe5ae9fe696bde38197e381a6e38184e3828b-27\"><strong>\u4ed6\u306e\u4e3b\u8981\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306f\u3059\u3067\u306b\u5b9f\u65bd\u3057\u3066\u3044\u308b<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-6471196\">\u30ab\u30eb\u30c0\u30ce\u304c\u307e\u3060\u8b70\u8ad6\u3092\u3057\u3066\u3044\u308b\u9593\u306b\u3001\u4ed6\u306e\u30e1\u30b8\u30e3\u30fc\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3084\u4f01\u696d\u306f\u3001\u3059\u3067\u306b\u3053\u306e\u3088\u3046\u306a<strong>\u30a2\u30af\u30c6\u30a3\u30d6\u306a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528<\/strong>\u3092\u65e5\u5e38\u7684\u306b\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-716998c\">\u5177\u4f53\u7684\u306b\u306f<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-1956c16\">\n<li class=\"\"><strong>Ripple<\/strong>\uff1aXRP\u306e\u5927\u91cf\u4fdd\u6709\u3068\u58f2\u5374<\/li>\n\n\n\n<li class=\"\"><strong>Solana Foundation<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Avalanche Foundation<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>SUI<\/strong>\u3001<strong>Aptos<\/strong> \u306a\u3069<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-0129f1b\">\u3053\u308c\u3089\u306e\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306f\u7686\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u3092\u7528\u3044\u305f\u904b\u7528\u6226\u7565\u306b\u3088\u308a\u300c\u53ce\u76ca\u300d\u3092\u751f\u307f\u51fa\u3057\u3066\u304a\u308a\u3001\u305d\u3053\u306b\u306f<strong>\u30d0\u30a4\u30fb\u30a2\u30f3\u30c9\u30fb\u30bb\u30eb\uff08\u58f2\u8cb7\uff09\u3067\u7a3c\u3050\u5c02\u9580\u96c6\u56e3<\/strong>\u306e\u5b58\u5728\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-459993b\">\n<p class=\"deb-block deb-block-4107a12\">\u300cBlackRock\u304c\u3069\u3046\u3084\u3063\u3066\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u624b\u306b\u5165\u308c\u305f\u3068\u601d\u3046\uff1fMicroStrategy\u304c\u3069\u3046\u3084\u3063\u3066\u8cb7\u3063\u3066\u308b\uff1fGrayscale\u304c\u3069\u3046\u3084\u3063\u3066ADA\u3092\u53d6\u5f97\u3057\u305f\uff1f\u2500\u2500\u5168\u90e8\u3001\u3053\u3046\u3044\u3046\u5e02\u5834\u306e\u30d7\u30ed\u306e\u4ed5\u7d44\u307f\u3060\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-f1994ec\">\u3053\u306e\u696d\u754c\u306f\u3082\u306f\u3084\u300c\u904b\u7528\u306e\u4ed5\u65b9\u3092\u77e5\u3089\u306a\u3044\u300d\u306a\u3069\u3068\u3044\u3046\u6bb5\u968e\u3067\u306f\u306a\u304f\u3001<strong>\u904b\u7528\u306b\u5931\u6557\u3059\u308c\u3070\u6557\u5317\u3059\u308b\u4e16\u754c<\/strong>\u306b\u5165\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-10ba81c\" id=\"e3808ce4bea1e6a0bce3818ce4b88be3818ce3828be3808de381a8e38184e38186e689b9e588a4e381b8e381aee58f8de8ab96-28\"><strong>\u300c\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u300d\u3068\u3044\u3046\u6279\u5224\u3078\u306e\u53cd\u8ad6<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-0cc5e52\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u3053\u3046\u8a00\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-2654b91\">\n<p class=\"deb-block deb-block-e16598f\">\u300c\u3082\u3057\u300e1\u5104\u30c9\u30eb\u5206\u306eADA\u3092\u58f2\u308b\u3068\u4fa1\u683c\u304c\u5d29\u58ca\u3059\u308b\u300f\u3068\u3044\u3046\u306e\u304c\u672c\u5f53\u306a\u3089\u3001<strong>\u30ab\u30eb\u30c0\u30ce\u306f\u3068\u3063\u304f\u306b\u5d29\u58ca\u3057\u3066\u3044\u305f<\/strong>\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-5da4376\">\u904e\u53bb\u306b\u6570\u5341\u5104\u30c9\u30eb\u898f\u6a21\u306eADA\u58f2\u5374\u304c\u3042\u3063\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u306f\u751f\u304d\u6b8b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f59c395\">\n<li class=\"\">\u7279\u306b\u3001\u65e5\u672c\u306e\u53e4\u53c2\u30db\u30eb\u30c0\u30fc\uff08\u901a\u79f0\u300c\u65e5\u672c\u306e\u30af\u30b8\u30e9\u300d\uff09\u305f\u3061\u306f\u30010.2\u30bb\u30f3\u30c8\u3067\u8cb7\u3063\u305fADA\u30921\u30c9\u30eb\u4ee5\u4e0a\u3067\u58f2\u5374<\/li>\n\n\n\n<li class=\"\">OTC\u30c7\u30b9\u30af\u3092\u901a\u3058\u3066\u58f2\u5374\u3055\u308c\u305f\u5927\u91cf\u306eADA\u304c\u3042\u308a\u3001\u305d\u308c\u3067\u3082\u4fa1\u683c\u306f\u7dad\u6301\u3055\u308c\u305f<\/li>\n\n\n\n<li class=\"\">\u3053\u306e\u7a2e\u306e\u58f2\u5374\u306f\u3001\u5e02\u5834\u306b\u3068\u3063\u3066<strong>\u65e5\u5e38\u7684\u306a\u3082\u306e<\/strong>\u3067\u3042\u308a\u3001\u5d29\u58ca\u306e\u539f\u56e0\u306b\u306f\u306a\u3089\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-cd6db60\" id=\"e382b9e38386e383bce38396e383abe382b3e382a4e383b3e381a8defie382a8e382b3e382b7e382b9e38386e383a0e381aee69caae68890e7869f-29\"><strong>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u3068DeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u672a\u6210\u719f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-f771e78\">\u30ab\u30eb\u30c0\u30ce\u306f\u73fe\u5728\u3001\u4ee5\u4e0b\u306e\u8ab2\u984c\u3092\u62b1\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-17f310b\">\n<li class=\"\"><strong>\u5f37\u529b\u306a\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u304c\u5b58\u5728\u3057\u306a\u3044<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-05a863a\">\n<li class=\"\">\u2192 DeFi\u306e\u57fa\u76e4\u304c\u5f31\u3044<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"\"><strong>TVL\u3084\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u767a\u884c\u91cf\u304c\u4f4e\u3059\u304e\u308b<\/strong>\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-90918cc\">\n<li class=\"\">\u2192 \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u306e\u4fe1\u983c\u6027\u304c\u4e0d\u8db3<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-7d029c5\">\u305d\u308c\u3092\u5909\u3048\u308b\u306b\u306f\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-868d391\">\n<li class=\"\"><strong>ADA\u3068\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u3092\u6253\u3061\u51fa\u3059<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>1\u5104\u30c9\u30eb\u898f\u6a21\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528\u3092\u5b9f\u884c\u3057\u3001\u5229\u56de\u308a\u3092\u751f\u3080<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u65e2\u5b58\u306eDeFi\u30a2\u30d7\u30ea\u306b\u6226\u7565\u7684\u6295\u8cc7\u3092\u884c\u3044\u3001\u30b9\u30b1\u30fc\u30eb\u5bfe\u5fdc\u3092\u652f\u63f4\u3059\u308b<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-1056c83\">\u3053\u308c\u306b\u3088\u308a\u3001\u300c\u6210\u9577\u2192\u53ce\u76ca\u2192\u518d\u6295\u8cc7\u2192ADA\u8cb7\u3044\u623b\u3057\u2192\u4fa1\u5024\u5411\u4e0a\u300d\u3068\u3044\u3046<strong>\u5faa\u74b0<\/strong>\u304c\u751f\u307e\u308c\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-c46fb2a\" id=\"e5ae89e585a8e8a385e7bdaeefbc88e382b7e383a3e38383e38388e38380e382a6e383b3efbc89e381a8e382ace38390e3838ae383b3e382b9-30\"><strong>\u5b89\u5168\u88c5\u7f6e\uff08\u30b7\u30e3\u30c3\u30c8\u30c0\u30a6\u30f3\uff09\u3068\u30ac\u30d0\u30ca\u30f3\u30b9<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-3e87352\">\u3053\u306e\u69cb\u9020\u3067\u306f\u3001\u5e38\u306b\u4ee5\u4e0b\u306e\u9078\u629e\u80a2\u304c\u78ba\u4fdd\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-5705286\">\n<li class=\"\"><strong>\u64a4\u9000\uff08RIP Core\uff09<\/strong>\uff1a\u4f55\u304b\u554f\u984c\u304c\u3042\u3063\u305f\u3089\u3001\u8cc7\u7523\u3092\u58f2\u5374\u3057\u3066ADA\u306b\u623b\u3057\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u306b\u8fd4\u9084\u3067\u304d\u308b<\/li>\n\n\n\n<li class=\"\"><strong>\u660e\u78ba\u306a\u610f\u601d\u6c7a\u5b9a<\/strong>\uff1a\u30ac\u30d0\u30cb\u30f3\u30b0\u30dc\u30fc\u30c9\u3092<strong>\u30ab\u30eb\u30c0\u30ce\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u6a5f\u69cb\u3067\u9078\u51fa<\/strong>\u3067\u304d\u308b<\/li>\n\n\n\n<li class=\"\"><strong>\u5206\u6563\u578b\u304b\u3064\u5408\u6cd5\u7684\u306a\u7ba1\u7406\u69cb\u9020<\/strong>\uff1aWyoming DAO\u3084Midnight\u8ca1\u56e3\u3068\u540c\u69d8\u306e\u69cb\u9020\u3092\u63a1\u7528\u53ef\u80fd<\/li>\n\n\n\n<li class=\"\"><strong>\u5e02\u5834\u7d4c\u9a13\u306e\u3042\u308b\u904b\u7528\u62c5\u5f53\u8005\u30fb\u76e3\u67fb\u4eba\u3082\u3059\u3067\u306b\u5b58\u5728<\/strong><\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-7994ade\" id=\"e3839be382b9e382ade383b3e382bde383b3e6b08fe381aee38395e383a9e382b9e38388e383ace383bce382b7e383a7e383b3e381a8e4b8bbe5bcb5-31\"><strong>\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306e\u30d5\u30e9\u30b9\u30c8\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u4e3b\u5f35<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-6d5daf8\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u3001\u6b21\u306e\u3088\u3046\u306b\u5f37\u3044\u53e3\u8abf\u3067\u8a34\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-2658c5f\">\n<p class=\"deb-block deb-block-d6f84c1\">\u300c\u79c1\u304c\u3053\u306e\u696d\u754c\u306715\u5e74\u904e\u3054\u3057\u3001\u73fe\u5834\u306e\u3059\u3079\u3066\u3092\u77e5\u3063\u3066\u3044\u3066\u3001\u660e\u78ba\u306a\u63d0\u8a00\u3092\u3057\u3066\u3044\u308b\u306e\u306b\u3001\u305f\u3060\u201d\u610f\u898b\u306e\u3072\u3068\u3064\u201d\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u306e\u306f\u975e\u5e38\u306b\u4e0d\u6761\u7406\u3060\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-65a59b2\">\n<li class=\"\">\u6570\u5341\u5104ADA\u304c\u58f2\u5374\u3055\u308c\u305f\u73fe\u5834\u3092\u5b9f\u969b\u306b\u898b\u3066\u304d\u305f<\/li>\n\n\n\n<li class=\"\">\u65e5\u672c\u306e\u30af\u30b8\u30e9\u3001OTC\u30c7\u30b9\u30af\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30e1\u30a4\u30ab\u30fc\u3001\u4ea4\u6e09\u624b\u6570\u6599\u307e\u3067\u719f\u77e5<\/li>\n\n\n\n<li class=\"\">\u81ea\u8eab\u306e\u898b\u89e3\u306f\u300c\u4e3b\u89b3\u300d\u3067\u306f\u306a\u304f\u300c\u5ba2\u89b3\u7684\u77e5\u8b58\u300d\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u3068\u5f37\u8abf<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-9ca1d89\" id=\"e3808c600e3839fe383aae382aae383b3e79b97e99ba3e79691e68391e3808de29480e29480e4bfa1e9a0bce381aee6b1bae5ae9ae79a84e381aae696ade7b5b6-32\"><strong>\u300c600\u30df\u30ea\u30aa\u30f3\u76d7\u96e3\u7591\u60d1\u300d\u2500\u2500\u4fe1\u983c\u306e\u6c7a\u5b9a\u7684\u306a\u65ad\u7d76<\/strong><\/h5>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-badc5e5\">\n<p class=\"deb-block deb-block-4b807cf\">\u300c\u79c1\u306f600\u30df\u30ea\u30aa\u30f3\u30c9\u30eb\u3092\u76d7\u3093\u3060\u3068\u307e\u3067\u975e\u96e3\u3055\u308c\u305f\u30028\u5e74\u9593\u8aa0\u5b9f\u306b\u3084\u3063\u3066\u304d\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3060\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-55b499f\">\u3053\u306e\u51fa\u6765\u4e8b\u306b\u3088\u308a\u3001\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306e\u4e2d\u3067\u4f55\u304b\u304c\u6c7a\u5b9a\u7684\u306b\u58ca\u308c\u305f\u3068\u8a9e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-dbdda06\">\n<li class=\"\">\u300c\u79c1\u306f\u3082\u3046\u4eba\u306e\u611f\u60c5\u3092\u5b88\u308d\u3046\u3068\u306f\u601d\u308f\u306a\u3044\u300d<\/li>\n\n\n\n<li class=\"\">\u300c\u3082\u3046\u8ab0\u304b\u306b\u597d\u304b\u308c\u3088\u3046\u3068\u306f\u601d\u3063\u3066\u3044\u306a\u3044\u300d<\/li>\n\n\n\n<li class=\"\">\u300c\u305f\u3060\u3001\u696d\u754c\u306e\u73fe\u5b9f\u3068\u5fc5\u8981\u306a\u3053\u3068\u3092\u771f\u646f\u306b\u8a9e\u308b\u300d<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-6feaeef\" id=\"e382abe383abe38380e3838ee381aee68890e58a9fe38292e9a198e381a3e381a6e38184e3828b-33\"><strong>\u30ab\u30eb\u30c0\u30ce\u306e\u6210\u529f\u3092\u9858\u3063\u3066\u3044\u308b<\/strong><\/h5>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-0632d06\">\n<p class=\"deb-block deb-block-ff0af25\">\u300c\u79c1\u306f\u30ab\u30eb\u30c0\u30ce\u3092\u4e16\u754c\u6700\u5927\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306b\u3057\u305f\u3044\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-8301302\">\u305d\u306e\u305f\u3081\u306b\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u9032\u3080\u3079\u304d\u3060\u3068\u8a9e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-141de84\">\n<li class=\"\">\u80fd\u52d5\u7684\u3067\u69cb\u9020\u5316\u3055\u308c\u305f\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528<\/li>\n\n\n\n<li class=\"\">\u5206\u6563\u578b\u7d44\u7e54\u306b\u3088\u308b\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u7bc9<\/li>\n\n\n\n<li class=\"\">\u30a2\u30af\u30c6\u30a3\u30d6\u6226\u7565\u306b\u3088\u308b\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u62e1\u5f35<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-4084bfe\">\u305d\u3057\u3066\u3001\u6700\u7d42\u7684\u306b\u306f<strong>\u3042\u306a\u305f\uff08\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\uff09\u304cYES\u304bNO\u304b\u3092\u6c7a\u3081\u308b<\/strong>\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-a45a8bf\" id=\"e68f90e6a188e3818ce68ea1e68a9ee38195e3828ce381aae38191e3828ce381b0e3808ce98080e3818fe8a69ae6829fe3808d-34\"><strong>\u63d0\u6848\u304c\u63a1\u629e\u3055\u308c\u306a\u3051\u308c\u3070\u300c\u9000\u304f\u899a\u609f\u300d<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-cb0c1e9\">\u30db\u30b9\u30ad\u30f3\u30bd\u30f3\u6c0f\u306f\u3053\u3046\u8ff0\u3079\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-70b65e2\">\n<p class=\"deb-block deb-block-f02a4c5\">\u300c\u3082\u3057\u79c1\u306e\u63d0\u6848\u304c\u652f\u6301\u3055\u308c\u306a\u3051\u308c\u3070\u3001\u305d\u308c\u306f\u79c1\u306e\u30ea\u30fc\u30c0\u30fc\u30b7\u30c3\u30d7\u306b\u5bfe\u3059\u308b\u4fe1\u983c\u304c\u5931\u308f\u308c\u305f\u3068\u3044\u3046\u3053\u3068\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-d828dd0\">\n<li class=\"\">\u81ea\u5206\u304c\u4fa1\u5024\u3092\u63d0\u4f9b\u3057\u3066\u3044\u306a\u3044\u306a\u3089\u3001<strong>\u5f15\u9000\u3059\u308b\u7528\u610f\u304c\u3042\u308b<\/strong><\/li>\n\n\n\n<li class=\"\">\u63a1\u629e\u3055\u308c\u3066\u6210\u529f\u3059\u308c\u3070\u3001<strong>\u6b8b\u3063\u3066\u8ca2\u732e\u3057\u7d9a\u3051\u308b<\/strong><\/li>\n\n\n\n<li class=\"\">\u63a1\u629e\u3055\u308c\u3066\u5931\u6557\u3059\u308c\u3070\u3001<strong>\u81ea\u5206\u306e\u30a2\u30a4\u30c7\u30a2\u304c\u60aa\u304b\u3063\u305f\u3060\u3051\u306e\u8a71<\/strong>\uff08\u30a8\u30b4\u3067\u306f\u306a\u304f\u3001\u5ba2\u89b3\u7684\u4e8b\u5b9f\uff09<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-8efc928\" id=\"twittere381a7e381aee6b7b7e4b9b1e381a8e3808ce8a2abe5aeb3e88085e6848fe8ad98e3808de381b8e381aee689b9e588a4-35\"><strong>Twitter\u3067\u306e\u6df7\u4e71\u3068\u300c\u88ab\u5bb3\u8005\u610f\u8b58\u300d\u3078\u306e\u6279\u5224<\/strong><\/h5>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-99f50b4\">\n<p class=\"deb-block deb-block-2d44b71\">\u300c\u6700\u8fd1\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u3084Twitter\u3067\u306e\u3084\u308a\u3068\u308a\u306f\u3072\u3069\u3059\u304e\u308b\u3002\u3082\u3046\u3046\u3093\u3056\u308a\u3060\u3002\u300d<\/p>\n<\/blockquote>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 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Fund\uff09\u300d\u3002\u3053\u308c\u307e\u3067\u306e\u201c\u53d7\u52d5\u7684\u30fb\u5358\u4e00\u8cc7\u7523\u30fb\u7121\u7ba1\u7406\u201d\u306e\u4f53\u5236\u304b\u3089\u3001\u201c\u80fd\u52d5\u7684\u30fb\u8907\u6570\u8cc7\u7523\u30fb\u6226\u7565\u7684\u201d\u306a\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u7528\u3078\u3068\u79fb\u884c\u3059\u308b\u69cb\u60f3\u3067\u3059\u3002&hellip;","protected":false},"author":1,"featured_media":42044,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93,21,35,28,1,38],"tags":[],"class_list":{"0":"post-42040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-93","8":"category-21","9":"category-blog","10":"category-28","11":"category-japanese","12":"category-38"},"featured_image_urls":{"full":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48.png",2012,1116,false],"thumbnail":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-150x150.png",150,150,true],"medium":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-300x166.png",300,166,true],"medium_large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-768x426.png",768,426,true],"large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-1024x568.png",900,499,true],"1536x1536":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-1536x852.png",1536,852,true],"2048x2048":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48.png",2012,1116,false],"dp-widget-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-140x96.png",140,96,true],"dp-widget-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-280x192.png",280,192,true],"dp-related-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-250x154.png",250,154,true],"dp-related-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-500x308.png",500,308,true],"dp-archive-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-450x250.png",450,250,true],"dp-archive-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2025-06-17-7.36.48-900x499.png",900,499,true]},"category_list":"<a 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