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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，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)性碎片化問題

在對(duì) Bitcoin.com News 的書面答復(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)中沒有實(shí)用潛力”這一事實(shí)進(jìn)一步加劇了這一問題。

另一方面，橋接代幣則面臨著馬克所說的“流動(dòng)性碎片問題”。

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)送的問題的回答。

Bitcoin.com News (BCN)：有人說 Solana 需要?jiǎng)?chuàng)新來為非原生代幣帶來流動(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 with