Njengoba sichazile esihlokweni esandulele ukuqeqeshwa cryptocurrency, kunezindlela zokukhiqiza imali engenayo ku-cryptocurrency ecosystem. Yebo, ngisho nasezikhathini ezinzima njengalezi. Njengoba sifunde kahle, i-liquidity ingaphezu kokudingekile ukuvumela ama-DEX ukuthi ageleze ngokujwayelekile. Ukunikeza i-liquidity kuyindlela enhle yokwenza imali engenayo, kodwa kunezingozi ezithile okufanele zicatshangelwe, njengokulahlekelwa unomphela...
Kuyini ukulahlekelwa okungapheli?
Ukulahlekelwa okungapheli kuwukulahlekelwa okuvezwa kukho izimali zethu eziyimfihlo uma zisendaweni yemali. Lokhu kulahlekelwa kuvame ukwenzeka lapho ingxenye yamathokheni echibini le-liquidity iba ingalingani. Nokho, ukulahlekelwa okungapheli akusebenzi kuze kube yilapho amathokheni ehoxiswa echibini le-liquidity. Lokhu kulahlekelwa ngokuvamile kubalwa ngokuqhathanisa inani lamathokheni akho echibini le-liquidity uma kuqhathaniswa nenani lokumane uwabambe. Njengoba ama-stablecoins enenani elizinzile, amachibi e-liquidity asebenzisa ama-stablecoins angase angavezwa kancane ekulahlekelweni okungapheli.
Ukulahlekelwa okungapheli kusebenza kanjani?
Ake sinikeze isibonelo ukuze lokhu kuqeqeshwa kwe-cryptocurrency kube lula ukukuqonda. Sengeza i-1 WETH ne-1375 USDC echibini le-liquidity, ngenani elifanayo lawo womabili amathokheni. Inani eliphelele lamathokheni likhuphukela ku-$2.750. Ichibi esilikhethile line-10 WETH kanye ne-13.750 USDC endaweni ye-liquidity ngesilinganiso esingu-50/50. Lokhu kuzuzisa abahlinzeki be-liquidity ngo-10% wezinkokhelo ze-pool. Bazothola lawa makhomishini kumathokheni e-LP, abangawasebenzisa ukuze bahlenge amakhomishini abo angu-10% echibini noma nini lapho sifuna.
Ithebhu yokunikela amathokheni echibini le-liquidity. Umthombo: Uniswap.
Njengoba intengo yamathokheni incike ezilinganisweni zamachibi abo e-liquidity, amanani abo angase aphambuke ezintengo zamanye amachibi. Uma intengo ye-WETH ikhuphuke ngo-100%, ngevelu engu-$2.750 nge-WETH ngayinye, i-poolity pool ngabe ishintshile yaba ngu-7,071 WETH kanye no-19.445 USDC. Lokhu kungenxa yokuthi i-pool ratio isishintshile, ngeke isaba ngu-50/50, okugcina kuthinta intengo ye-WETH. Njengoba abahlinzeki bezimali bethola ikhomishana engu-10% ku-liquidity pool, singakhipha u-0,7071 WETH kanye no-1944,52 USDC, okulingana no-$3.889. Kodwa-ke, uma sibamba i-1 ETH ne-1.375 USDC, zingabiza u-$5.500. Umehluko phakathi kwakho kokubili, $1.611, ukulahlekelwa unomphela esizokuthola. Ukungalingani okukhulu kwenani lephuli kungaphenduka ukulahlekelwa okukhulu okungapheli.
Ingabe ihlale inomthelela ofanayo?
Ukulahlekelwa okungunaphakade kungase kuhluke kuye ngamathokheni akha i-liquidity pool kanye nenani labahlinzeki bezimali ngaphakathi kwephuli. Esibonelweni esisibeke ngenhla, ichibi le-WETH/USDC, i-WETH ine-stablecoin okufanele ihwetshwe. Uma esikhundleni salokho, sengeza i-liquidity kumabhangqa e-WETH/MATIC, ukulahlekelwa unomphela kungaba kukhulu kakhulu, uma kubhekwa ukuthi amathokheni amabili ayimpahla eguquguqukayo. Ngesikhathi esifanayo, kukhona namachibi e-stablecoin, njenge-USDC ne-DAI. Ngalawa mapheya sinciphisa ukuchayeka kwethu ekulahlekelweni unomphela ngoba cishe awanakho ukuguquguquka. Kugrafu elandelayo singabona ukuthi intengo ingathinta kanjani ukulahlekelwa unomphela esizokuthola. Uma ithokheni esitshale kuyo ikhuphuka ngo-500%, singathola ukulahlekelwa unomphela cishe kwe-25%.
Ukulahlekelwa okungapheli okungenzeka kuye ngokukhula kwempahla. Umthombo: Reddit.
Ibalwa kanjani ukulahlekelwa okungapheli?
Njengoba ukuhwebelana kwe-decentralized (DEXs) kusebenzisa izibalo ukulungisa amanani amathokheni lapho isilinganiso sishintsha, singasebenzisa isibali sokulahlekelwa esingunaphakade ukubala kalula ukulahlekelwa okungaba khona. Ikhasi I-Defi yansuku zonke inethuluzi lokubala ngokuzenzakalelayo ukulahlekelwa unomphela esingase sihlupheke ngakho ngokusekelwe kuzintengo ezingaba khona zesikhathi esizayo.
Isixhumi esibonakalayo sethuluzi lokubala lokulahlekelwa okungapheli. Umthombo: Daily Defi.
Kulesi sibonelo, ithokheni A (USDC) ingu-$1.375 futhi ithokheni engu-B (ETH) iyi-$1, enenani lokuqala eliyisamba lika-$2.750 phakathi kwamathokheni amabili. Okulandelayo siya esigabeni "samanani esikhathi esizayo". Setha inani le-USDC ku-$2.750 kanye ne-WETH ku-1.
Imiphumela yokubalwa kokulahlekelwa okungapheli kwezibalo eziveziwe. Umthombo: Daily Defi.
Njengoba kunikezwe ukuthi inani lamathokheni A no-B aphethwe lingaba ngu-$ 1.500, uma kuqhathaniswa nalawo ase-liquidity pool, $ 1.414,21. Lokhu kungasho ukulahlekelwa unomphela kwe-$85,79.
Singazimboza kanjani ekulahlekelweni okungapheli?
Ngemva kokubona ukuthi ukulahlekelwa okungapheli kusebenza kanjani kumapheya e-cryptocurrency, ake siqhubeke nemfundo ye-cryptocurrency nezixazululo ezingaba khona kule nkinga. Sesiyazi kakade ukuthi abahlinzeki be-liquidity ngokuvamile bahlinzeka ngama-stablecoins futhi basebenzise izinzuzo zabo ukuze banciphise umthelela wokulahlekelwa unomphela. Kukhona indlela yokwehlisa ngokuqhubekayo umthelela, ngokusebenzisa amachibi okusebenzisa imali asebenzisa izilinganiso ezihlukene zokulingana. Singasebenzisa izilinganiso ezifana no-80/20 ngisho no-90/10. Uma silandela isibonelo sangaphambilini, ngokuvamile singanikela ngo-50% we-WETH ngomunye u-50% wenye ithokheni.
Ukulahlekelwa okungapheli ngokuya ngezilinganiso ezihlukene. Umthombo: Twitter.
Ngamachibi angama-80/20 sinokuchayeka okungu-20% kolunye uphawu. Njengoba sibona kugrafu elandelayo, singabona ukuthi ukulahlekelwa okungapheli kungakhula kanjani ngezilinganiso ezahlukene. Njengoba sibona, i-90/10 iyona elahlekelwa okungenani unomphela. Lezi zilinganiso futhi zingasisiza ukuthi sinciphise umthelela wokulahlekelwa okungapheli ngokunikeza umehluko omncane phakathi kokubamba ithokheni uma kuqhathaniswa nokuhlinzeka ngemali. Kugrafu elandelayo singabona ukuthi ukuba sechibini le-liquidity elino-80% WETH kanye no-20% enye ithokheni kuzokhiqiza izinzuzo eziningi kunesilinganiso esingu-50/50.
Ukuqhathanisa phakathi kokubamba amathokheni noma ukunikeza imali ngezilinganiso ezihlukene. Umthombo: Okuphakathi.
Kufanele kuqashelwe ukuthi amachibi angama-50/50 avame kakhulu kunamanye, ikakhulukazi ku-Uniswap. Njengoba izinkokhelo ziya kumachibi okusebenzisa imali, inzuzo yawo inqunywa inani labasebenzisi abasebenzisa i-liquidity pool. Uma isilinganiso singu-95/5 kodwa akekho osebenzisa ichibi ukuze ahwebe, sizokhiqiza inzuzo encane noma singayitholi nhlobo.
Iziphetho ezivela kulokhu kuqeqeshwa kwe-cryptocurrency
Nakuba ngokuhlinzeka ngemali yezimali singase sibe nokulahlekelwa okungapheli, kufanele futhi sicabangele inzuzo yamathokheni ethu. Uma izimbuyiselo zabo zenza imbuyiselo enkulu kunenani abalilahlekelayo ekulahlekelweni okungapheli, lapho-ke singakwazi ukukhiqiza inzuzo eningi kunokumane sibambe amathokheni ethu. Ngaphezu kwalokho, ngokuthola inzuzo yamathokheni ethu echibini le-liquidity, siphinde sibe nesandla ekunakekeleni i-ecosystem. Ukuvala lokhu kuqeqeshwa kwe-cryptocurrency, khumbula ukuthi uma ivolumu yokuhweba iba nenani lemali eningi, abahlinzeki bemali engenayo bazokhiqiza kakhulu. Ngakho-ke, lapho sibambiqhaza okwengeziwe kule pool, yilapho singenisa imali eyengeziwe...