下載

• 市場(chǎng)動(dòng)態(tài)

• 新聞稿

• 關(guān)于

• 廣告

面試

作者：

特倫斯·齊姆瓦拉

1小時(shí)前

Clone 的核心貢獻(xiàn)者和共同發(fā)明人 Evan Deutsch 表示，克隆資產(chǎn)、永續(xù)合約和橋接代幣是兩種可以為 Solana 上的非原生資產(chǎn)帶來(lái)流動(dòng)性現(xiàn)貨市場(chǎng)的工具。

Deutsch 在加密領(lǐng)域被許多人稱為 Mark，他警告說(shuō)，后兩種工具都有其缺點(diǎn)，這使得它們不太理想的解決方案。

流動(dòng)性碎片化問(wèn)題

在對(duì) Bitcoin.com News 的書(shū)面答復(fù)中，

多伊奇

斷言，永續(xù)合約或永續(xù)合約最適合短期但高杠桿的策略。

然而，從長(zhǎng)遠(yuǎn)來(lái)看，持有高管人員的成本高昂，這使得它們不太理想，多伊奇解釋道。

永續(xù)合約“在更廣泛的 Solana defi 生態(tài)系統(tǒng)中沒(méi)有實(shí)用潛力”這一事實(shí)進(jìn)一步加劇了這一問(wèn)題。

另一方面，橋接代幣則面臨著馬克所說(shuō)的“流動(dòng)性碎片問(wèn)題”。

這位聯(lián)合發(fā)明人還強(qiáng)調(diào)了 Uniswap 首創(chuàng)的集中流動(dòng)性做市商 (CLMM) 與所謂的 Comet 自動(dòng)做市商的區(qū)別因素。

他指出了 CAMM 擁有的一些突出優(yōu)勢(shì)，這些優(yōu)勢(shì)使它們成為更加復(fù)雜和資本效率更高的系統(tǒng)。

與此同時(shí)，Deutsch 還解釋了為什么他的

Clone

團(tuán)隊(duì)選擇在 Solana 區(qū)塊鏈上構(gòu)建，以及被稱為克隆資產(chǎn)的新 DeFi 資產(chǎn)類別如何準(zhǔn)備豐富后者的生態(tài)系統(tǒng)。

以下是多伊奇對(duì)所有發(fā)送的問(wèn)題的回答。

Bitcoin.com News (BCN)：有人說(shuō) Solana 需要?jiǎng)?chuàng)新來(lái)為非原生代幣帶來(lái)流動(dòng)性。

為什么在 Solana 上交易非原生資產(chǎn)如此困難？提高非原生資產(chǎn)交易資本效率的最大障礙是什么？

Evan Deutsch（ED）：

讓我們首先了解什么是非原生資產(chǎn)；

來(lái)自與其交易所在區(qū)塊鏈不同的代幣。

在 Solana 上，交易這些非原生資產(chǎn)的選擇非常有限。

Perpetual contracts, or ‘perps,’ are one of the few tools available. They offer a way to trade non-native assets with high leverage. Although perps are powerful tools, funding rates make them complicated for novice traders and often result in them being expensive to hold over time. Perps are sophisticated financial instruments best suited for short-term, high-leverage strategies. They are also contracts, not tokens, so they have no potential for utility across the broader Solana defi ecosystem.

Blockchain bridges make it possible to introduce a token for any non-native asset to Solana, but there is very little liquidity available to actually trade these bridged tokens. They face what I term the ‘liquidity fragmentation problem.’ The “l(fā)iquidity fragmentation problem” arises from the multiple decisions and significant initial investment required for a Liquidity Provider (LP) to introduce liquidity for a new bridged token to the Solana ecosystem. First, the LP faces a choice among various bridges, each with its unique features and user base.

They must then select a Decentralized Exchange (DEX) to establish their liquidity pool. This process involves considerable initial costs, and even after setting up, there’s no guarantee that traders will prefer the specific bridge and DEX combination the LP has chosen. This process is too risky for any rational individual or entity to undertake. If we want a scalable solution for onboarding non-native token liquidity to Solana, there has to be another way.

BCN: Can you briefly talk about cloned assets and how these differ from bridged tokens?

ED:Of course. Cloned assets are a brand new defi asset class pioneered by Clone Protocol for optimizing the onboarding of non-native token liquidity to a new chain. Cloned assets can be thought of as bridged assets with superpowers, with their capital efficiency and scalability being the main weapons in their arsenal. Cloned assets holders are actually able to swap these for bridged assets, a critical characteristic that ensures cloned assets will always remain pegged to their non-native counterparts. While cloned assets and bridged assets are, in a way, one and the same, cloned assets give bridged assets a liquidity boost that actually allows them to be traded, utilized, and scaled quickly within any DeFi ecosystem.

BCN: What is the Comet Liquidity System (CLS) and how does it bring non-native tokens with deep liquidity on Solana?

ED:If cloned assets have superpowers, the Comet Liquidity System can be thought of as the laboratory in which they were created. At its core, the CLS is a refined version of what’s known as an automated market maker (AMM). However, our version—the ‘Comet AMM’—is much stronger. The entirety of the liquidity backing CAMMs is in USDC. This makes things simple for LPs because they only need USDC to get started.

The CLS isn’t just about convenience; it’s about pushing the boundaries of AMM efficiency. What really sets it apart is its unique leveraged, cross-margin approach. This approach allows LPs to provide more total liquidity than the amount of USDC they deposit, and that liquidity can be spread across multiple CAMMs. We call this type of position a ‘Comet’, and each Comet is characterized by an amount of deposited USDC backing liquidity positions across multiple cloned asset pools simultaneously. The CLS offers the first solution to the persistent ‘liquidity fragmentation problem’ that has plagued non-native token liquidity on Solana, ensuring efficiency, scalability, and security in the process.

BCN: Can you distinguish a Comet automated market maker (CAMM) from concentrated liquidity market maker (CLMM) in terms of liquidity provision and price determination?

ED:The CAMM is a revolutionary approach to liquidity provision, differentiated by its cross-margined nature. The CLMM, pioneered by Uniswap v3, requires LPs to commit both sides of a trading pair—for instance, they would need both USDC and Arbitrum (ARB) to provide liquidity to a USDC/ARB pool. The amount of provided USDC dictates the lower price boundary, while the amount of ARB sets the upper price limit. Now, suppose an LP wants to provide liquidity to a CAMM pool for USDC/Cloned Arbitrum. The CAMM allows USDC to support both positive and negative price movement at the same time, effectively cutting in half the capital necessary to achieve the same price range as LPs using CLMM.

Another standout advantage of CAMMs is their cross-margin capability, which enables USDC to concurrently support multiple positions simultaneously. This is a stark difference from CLMM, where each position is independent and managed separately.

When it comes to price determination, both CAMMs and CLMMs usually rely on the ‘x*y=k’ constant product formula. However, CAMMs have an additional layer. They incorporate the total cloned assets debt in the pool and real-time oracle prices to calculate quotes, since they’re facilitating trades with USDC alone. Overall, this allows for a more sophisticated and capital-efficient system, maximizing the scalability of any cloned assets.

BCN: What makes Solana the primary choice of blockchain for your protocol and do you believe that the cloned assets can help Solana defi boost token diversity?

ED: My team and I have been champions of Solana for quite some time now. In defi, three principles are king: efficiency, scalability, and innovation. Solana reigns supreme in all three, boasting unparalleled speed and cost-effectiveness. When you aim to create products that embody these qualities, Solana becomes the clear choice.

我們決定在 Solana 上構(gòu)建 Clone 源于認(rèn)識(shí)到更好地整合非原生代幣流動(dòng)性的迫切需要。

區(qū)塊鏈上的代幣多樣性至關(guān)重要，沒(méi)有它，就像擁有一輛最先進(jìn)的跑車，卻沒(méi)有道路可以行駛。

Solana 的效率是無(wú)可爭(zhēng)議的，但我們感受到了對(duì)更豐富的代幣種類的渴望，以真正釋放其潛力。

事實(shí)上，模因幣的興起和最近項(xiàng)目的代幣生成事件（TGE）已經(jīng)開(kāi)始普及，但我們還遠(yuǎn)未達(dá)到飽和。

克隆資產(chǎn)旨在為現(xiàn)有用戶提供更多交易選擇來(lái)豐富生態(tài)系統(tǒng)，更重要的是，為來(lái)自其他區(qū)塊鏈的用戶建立橋梁。

克隆資產(chǎn)將為這些用戶提供熟悉的機(jī)會(huì)，邀請(qǐng)他們通過(guò)他們已經(jīng)了解和信任的資產(chǎn)體驗(yàn) Solana 的優(yōu)勢(shì)。

正是這種熟悉與創(chuàng)新的融合將催化 Solana 的 DeFi 領(lǐng)域出現(xiàn)新一波的增長(zhǎng)。

熱點(diǎn)：代幣 加密 提供