[加密王]Solana上的非原生代币流动性最佳解决方案

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面试

作者：

特伦斯·齐姆瓦拉

1小时前

Clone 的核心贡献者和共同发明人 Evan Deutsch 表示，克隆资产、永续合约和桥接代币是两种可以为 Solana 上的非原生资产带来流动性现货市场的工具。

Deutsch 在加密领域被许多人称为 Mark，他警告说，后两种工具都有其缺点，这使得它们不太理想的解决方案。

流动性碎片化问题

在对 Bitcoin.com News 的书面答复中，

多伊奇

断言，永续合约或永续合约最适合短期但高杠杆的策略。

然而，从长远来看，持有高管人员的成本高昂，这使得它们不太理想，多伊奇解释道。

永续合约“在更广泛的 Solana defi 生态系统中没有实用潜力”这一事实进一步加剧了这一问题。

另一方面，桥接代币则面临着马克所说的“流动性碎片问题”。

这位联合发明人还强调了 Uniswap 首创的集中流动性做市商 (CLMM) 与所谓的 Comet 自动做市商的区别因素。

他指出了 CAMM 拥有的一些突出优势，这些优势使它们成为更加复杂和资本效率更高的系统。

与此同时，Deutsch 还解释了为什么他的

Clone

团队选择在 Solana 区块链上构建，以及被称为克隆资产的新 DeFi 资产类别如何准备丰富后者的生态系统。

以下是多伊奇对所有发送的问题的回答。

Bitcoin.com News (BCN)：有人说 Solana 需要创新来为非原生代币带来流动性。

为什么在 Solana 上交易非原生资产如此困难？提高非原生资产交易资本效率的最大障碍是什么？

Evan Deutsch（ED）：

让我们首先了解什么是非原生资产；

来自与其交易所在区块链不同的代币。

在 Solana 上，交易这些非原生资产的选择非常有限。

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 “liquidity 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