Uma uchithe noma yisiphi isikhathi endaweni ye-DeFi, kungenzeka ukuthi uzwile ngephuli ye-liquidity. Lawa machibi avame ukukhuthazwa njengendlela yokuthola imali engenayo nge-crypto noma njengendlela yokuthola imiklomelo ethile.
Ngaphambi kokuthi ugxumele ekufakeni izimpahla zakho kwenye yezivumelwano eziningi ze-LP laphaya, kubalulekile ukwazi izinto eziyisisekelo. Ama-LP awubuchwepheshe obubalulekile ohlelweni lwezemali olusabalalisiwe okufanele kufundwe ngalo.
Lo mhlahlandlela uzohlola ukuthi liyini i-liquidity pool, ukuthi lisebenza kanjani, nokuthi kungani libalulekile. Sizophinde sibheke umqondo wokulahlekelwa okungapheli nokuthi ungakuvimbela kanjani njengomtshali we-crypto.
Iyini i-liquidity pool?
Amachibi e-Liquidity empeleni ayizinkontileka ezihlakaniphile ezivumela abasebenzisi ukushintshanisa i-crypto ngaphandle kwesidingo sabenzi bemakethe abaphakathi nendawo.
Ukuhwebelana okumaphakathi kusebenzisa uhlelo lwebhuku loku-oda, olugcina irekhodi lokuthenga nokudayisa ama-oda. Inkinga ngohlelo lwezincwadi zoku-oda ukuthi zidinga ingqalasizinda emaphakathi ukuze ifane nama-oda, okunikeza isendlalelo esengeziwe sobunzima.
Izincwadi zoku-oda nazo azilona uhlelo oluhle lapho noma ubani engazakhela amathokheni akhe. Izincwadi zoku-oda nazo ziba nzima ukuzisebenzisa uma amanani okuhweba ephansi.
Esikhundleni sokusebenzisa uhlelo lokuthenga nokuthengisa lwezincwadi ze-oda, amachibi okusebenzisa imali asetshenziswa abenzi bemakethe abazenzakalelayo ukunquma amanani lapho uhweba. Kukhona i-algorithm enquma inani, hhayi abathengisi nabathengi.
Amachibi e-Liquidity, njengoba negama lisho, anikeza ukuhwebelana izimali. I-Liquidity empeleni iyikhono lohlamvu lwemali olungashintshwa lube yi-fiat noma amanye ama-cryptocurrencies. Kodwa kungani ngempela i-liquidity ibalulekile?
Kungani zibalulekile?
Ngaphandle kwamachibi okusebenzisa imali, i-DeFi ibingeke yenzeke.
I-liquidity ephezulu iyisimo esihle kuma-cryptocurrencies amaningi. Uma amathokheni etholakala, i-liquidity izinza intengo yemakethe futhi yehlisa ukuguquguquka kwempahla. Uma inani elikhulu lethokheni ethile lithengiswa endaweni yokuthenga izinto ezisetshenziswayo, ukuhluka kwamanani okuzenzakalelayo kungase kungabi nandaba.
I-liquidity ephansi iholela ekusheleleni okuphezulu. I-Slippage isho umehluko phakathi kwenani elilindelekile lempahla kanye nenani umsebenzisi alikhokhayo lapho enza umsebenzi.
Akugcinanga lapho, ukushoda kwezimali kusho ukuthi kungaba nzima ukudayisa impahla ethile. Impela kunjalo ngamathokheni amasha asanda kukhishwa emphakathini.
Ukuze amaphrojekthi amasha asebenze kahle ne-ecosystem ye-DeFi yamanje, abathuthukisi kufanele baqinisekise ukuthi iphrothokholi ikhuthaza ukuthengiswa kwemali ukuze amathokheni asakazwe ngokwanele.
Sisebenza kanjani?
Ake sibheke ukuthi umenzi wemakethe ozenzakalelayo usebenza kanjani.
Imodeli ye-AMM isebenzisa i-algorithm esetha izintengo zamathokheni ngokusekelwe esilinganisweni samanje samathokheni anikeziwe. Ngokwesibonelo, Ukungahluki isebenzisa ifomula yomkhiqizo engashintshi x *y = k ngamapheya ayo okuhweba echibini le-liquidity.
Lokhu kusho ukuthini ukuthi inani lika-x kanye nenani lika-y liyalungiswa ukuze inani eliphelele le-pool lihlale lingu-k njalo.
Isibonelo, ake sithi sinepheya ye-USDC/ETH ene-1 ETH ebiza u-$1000. Ake sicabange ukuthi i-liquidity pool ine-10 ETH kanye ne-10,000 USDC. U-k wethu ongaguquki uzolingana no-10 * 10,000 = 100,000.
Uma othile ebezothenga i-1 ETH echibini, inani le-ETH lizokhula futhi inani le-USDC lizokwehla ngendlela yokuthi u-k uhlala njalo.
Ukulima Izithelo
Vumelani ukulima iyindlela edumile yokwenza imali engenayo ngempahla yakho ye-crypto. Lokhu kubhekisela ohlelweni lokuboleka imali yakho echibini le-liquidity ukuze uthole imiklomelo.
Izivumelwano ze-Liquidity pool zinikeza imiklomelo noma "isivuno" ukuze kugqugquzelwe abantu ukuthi bahlinzeke ngezimali.
Isibonelo, unganikeza inani elithile le-liquidity ku-LP ngepheya yethokheni ye-USDT/BNB. Abasebenzisi abathenga futhi bathengise amathokheni ku-LP bakhokha imali engashintshi. Le mali ibe isisatshalaliswa njengemiklomelo kubahlinzeki bezimali.
Ukusatshalaliswa kwangempela kwale miklomelo kuncike kuphrothokholi, kodwa ngokuvamile kusekelwe enanini lemali oyinikezayo. Lapho ufaka i-crypto eyengeziwe, isivuno sakho sikhuphuka.
Kunamawebhusayithi amaningi akuvumela ukuthi ukhiqize ipulazi. Curve Ezezimali iphrothokholi ethandwayo ngoba igxile ekushintsheni kwe-stablecoin, okungaguquguquki kakhulu kunamanye amapheya okuhweba. Enye iphrothokholi ethandwayo yile Imali Ehlanganisiwe, ekuvumela ukuthi uboleke futhi uboleke izimpahla ngenkundla yayo.
Ukulahlekelwa Okungapheli
Ngaphambi kokufaka i-crypto yakho echibini le-liquidity, kufanele uqonde ubungozi bokuthi ukulahleka okungenamusa.
Ukuyibeka kalula nje, ukulahlekelwa okungapheli yinani lemali obungayenza ukube uvele wayibamba imali yakho kunokuba uyifake echibini le-liquidity.
Kwenzeka kanjani lokhu?
Isibonelo, ake sicabange ukuthi sinephuli ye-USDC/ETH enenani elilinganayo lethokheni ngayinye, ne-1 ETH ibiza u-$100. Njengomhlinzeki we-liquidity, ungeza i-1 ETH ne-100 USDC echibini le-liquidity. Inani ledola ngesikhathi sediphozithi libiza u-$200 isiyonke.
Ake sithi kukhona i-10 ETH ne-1,000 USDC echibini le-liquidity. Njengoba intengo yempahla ngayinye ku-pool incike ezilinganisweni zamachibi abo okuthola imali, izintengo zabo zihlukene nezintengo ezibonwa ekuhwebeni.
Ake sithi intengo ye-Ethereum iphindwe kabili ezinyangeni eziyisithupha ezizayo, okusho ukuthi i-ETH ngayinye manje isibiza u-$200. Ukuze ugcine isilinganiso se-50/50, kufanele kube ne-7.071 ETH kanye ne-1,414.21 USDC.
Uma uhoxa manje, unelungelo lokuthola i-0.7071 ETH kanye ne-141.42 USDC, okungaba ngu-$282. Nokho, uma umane ubambelele ku-ETH yakho, ubuzoba namathokheni anenani elingama-$300 ($100 ye-USDC ne-$200 ye-ETH).
Umehluko we-$18 waziwa njengenani lokulahlekelwa okungapheli onakho.
Kunezindlela ezimbalwa zokugwema ukulahlekelwa okungapheli. Okokuqala, ungagxila kumabhangqa e-stablecoin, njenge-USDT/USDC. Ungase ungatholi imiklomelo emikhulu evela kumapheya aguqukayo, kodwa usathola imali engenayo eqinisekisiwe evela kusabelo sakho sezimali zokuhweba.
Okwesibili, ungathola amachibi okusebenzisa imali asekela izilinganiso zempahla ezingalingani. Lokhu kufaka phakathi amachibi aguqukayo anezilinganiso ezifana no-95/5 no-60/40.
Isiphetho
Amachibi e-Liquidity angomunye wemiqondo ebaluleke kakhulu esikhaleni se-DeFi. Ngaphandle kwama-LPs, besingeke sikwazi ukusebenzisa ukuhwebelana okuhlukaniselwe izwe, ukuboleka, nezinye izinkontileka zezimali.
Abatshalizimali be-Crypto bangakwazi ukusizakala ngamachibi okusebenzisa imali ukwenza imali engenzi lutho nge-cryptocurrency okungenzeka sebenayo kakade.
Ngaphambi kokutshala imali echibini le-liquidity, abatshalizimali kufanele bacwaninge ukuthi bungakanani ubungozi abazochayeka kubo nokuthi ingabe ingozi iyifanele yini imivuzo abangayithola.
shiya impendulo