Automated Market Makers (AMMs): Ebyo Ekitanga Ekikola Ekitanga Ekiwandiikiddwa mu Crypto Trading
Mu myaka myinshi, igitekerezo cyo gucuruza cyari cyoroshye: umuguzi n'umucuruzi bagombaga kwemera igiciro cy'umutungo, akenshi bigakorwa n'umuhuzabikorwa w'ibanze nka buruse y'imigabane cyangwa umucuruzi. Ibi byari ibyanditswe mu bitabo by'ibikorwa. Hanyuma, ikoranabuhanga rya blockchain n'ibicuruzwa bya cryptocurrency byaje, byiyemeje guha ubwisanzure. Ariko mu gihe kirekire, n'amasoko ya cryptocurrency yakomeje gukurikiza uyu muco wa kera, yishingikirije ku centralized order books. Ekikadde eky’amaanyi tekyava ku kutandika obutonde; kyava ku kuteekateeka ku muguwa guno.
Jjako Abakola ku Makulu (AMMs).
Ekikadde kino eky’amaanyi tekyakola bulungi ku kutunda; kyakola bulungi obutonde buno. Kyasobozesa okwewala omukwano, kyakoma ku mukutu ogw’okusaba, era kyateekawo obutonde bw’ebyensimbi. masoko ku muntu wese afite smartphone na internet. Mu uyu mwandiko wuzuye, tuzasesengura ubukorikori bwa AMMs. Tuzagenda kuva ku nkingi zayo z'ibitekerezo kugeza ku miterere yayo yihariye y'imibare, turebe amahirwe atangwa ku bakoresha n'abashoramari kimwe, kandi tunarebe uko bihurira n'ibikoresho by'ubucuruzi bihanitse nka Exbix okukola omukisa ogw'ekikula, okuva mu masoko g'ekika ne masoko g'ekikula.
Kiki Automated Market Maker (AMM)? Okukyusa Okukulu
Automated Market Maker (AMM) ni protocol y'ekikula ekitambuza (DEX) eyekolera ku formula y'eby'ekikula okuteekateeka ebyobugagga. Mu ngeri y'ekika, osobola okutandika... okukiriza abaguzi n'abasasula, AMM ikozesa pool ya liquidity ishinzwe mbere aho abakoresha bashobora gucuruza bahereye ku isoko ry'ibintu.
Okutegeera kw’ekikula ky’ekikula kwe kukola mu nteekateeka n’okwewandiisa:
- Tewewandiika mu Kkubo Ekitukuvu: Teziriwo kkubo erimu ebikadde by’okuza n’okutunda.
- Tewewandiika mu Kkubo Ekitukuvu Risk: Okwanjula na smart contract ejikere pool.
- Na-adịgide adịgide: Ahịa dị 24/7, na-enweghị mgbakwunye ma ọ bụ mechie ụda.
- Na-enweghị ikike: Onye ọ bụla nwere ike ịbụ onye na-enye mmiri (LP) ma nweta ụgwọ, na ọ bụla ọrụ nwere ike ịmepụta ahịa maka token ya.
Ụdị a bụ isi nke Ecosystem ya Decentralized Finance (DeFi), ekozi giants ng'anga Uniswap, SushiSwap, na PancakeSwap, na ni gulu l importante la maexchange a centralized a mkwawa monga Exbix Markets amene akukonza mpata pakati pa CeFi ndi DeFi efficiency.
Mtima Wopanga: AMMs Amagwira Bwanji Actually Work?
Okukola obukodyo, tulina okutuuka ku bintu eby’amaanyi eby’okusaba: Ebifo by’Obukadde ne Ekifaananyi eky’Obulamu obutali butuufu.
1. Ebifo by’Obukadde: Ekitangaala ky’Emirimu
Ekifo ky’obukadde kireeta ekikozesebwa ekikola ekirina ebyawandiiko eby’amaanyi eby’ebyokulya eby’enjawulo. Nga bwe kityo, omu ETH/USDT pool erina Ethereum ne Tether. Pools zinozibwa na Abazimbe b'Obutonde (LPs)—abakoresha abateeka agahimbazamusyi k'ibintu byombi mu pool.
Mbese kuki bakora ibi? Gukora amafaranga y'ubucuruzi. Buri gihe umucuruzi akoresha pool guhindura kimwe mu bintu ku kindi, hishyurwa amafaranga make (akenshi 0.01% kugeza 0.3%) kandi ekikiddwa mu bungi obwawandiikiddwa ku LP zonna mu pool eyo. Kyi kimu eky'okukozesa obutambi bwo mu crypto okufuna obuwunga, ekintu ekikozesebwa nnyo nga yield farming.
Olw'oyita mu kukola ku bungi, ofuna LP tokens nga nsimbi. Ezi nsimbi zikwata ku kimu ky'ogenda okukola mu pool yonna era zisobola okukozesebwa mu biseera eby'omu maaso okufuna ekitundu kyo ku bungi obwawandiikiddwa n'ekitundu ky'ekikadde. ebikiddwa amasanyizo. Ekikozesebwa kino kisangibwa mu nsisinkano ng'eziri Exbix, kikyusa abakozi okwewandiisa mu mukutu gwa liqidiiti.
2. Ekifaananyi eky'amaanyi: x * y = k
Ekifaananyi ekisanyizo era eky'ekika ky'amaanyi ekikozesebwa mu AMMs ng'eziri Uniswap V2 kye ekikozesebwa ky'amaanyi ag'ekika ekirina obutafaanana ekikozesebwa.
Ekifaananyi kiki
simple: x * y = k
x= omuwendo gwa Asset A mu pool (e.g., ETH)y= omuwendo gwa Asset B mu pool (e.g., USDT)k= ekitundu ekirina okubeera kimu bulijjo
Ekifaananyi kino kikakasa nti ekitundu ky'ebyawandiiko ebiri bisanidde bulijjo.
equal k. Iyi mwezo ikulu inali ndi zotsatira zazikulu pa mtengo ndi kuchuluka kwa zinthu.
Ikuthandiza bwanji kuti mupeze mtengo?
Mtengo wa chinthu umakhazikitsidwa ndi kuchuluka kwa zinthu zomwe zili m'phanga. Ngati munthu akugula ETH zambiri kuchokera m'phanga, amachepetsa kuchuluka kwa ETH (x) ndipo amawonjezera USDT zambiri (y). Kuti
keep k okutalina, okudda x kyaliriza omusolo gwa ETH okuzza mu mukutu ogw'ekyenkya. Kino kye kiki ekiraga enkolagana ey'ekikozesebwa okusobola okuzza omusolo okusinga ku bintu ebiri mu pool.
Ekikozesebwa, ekirina obukodyo bw'amaanyi, kiki ekiraga nti oyinza okuteekateeka ebikozesebwa mu biseera eby'amaanyi ku bintu ng' TRX/USDT oba SHIB/USDT nga ntegeka ku mutwe omu ku mwekwate omukutu gwo ogwokugula.
Ekitundu ky'Abakugu: Ebizibu by'Okukozesa AMMs
AMM model eya suite y'ebyafa ebyawandiikiddwa mu biseera eby'amaanyi.
- Obwakabaka obw'amaanyi: Ono anyweza okuteeka ku mukutu ku bintu byonna. Eno yateekawo omukutu ogw'amaanyi ku bintu eby'amaanyi n'obutono eby'ekikula ebyandibadde mu bbeeyi ya bintu eby'amaanyi eby'ekikula ebiri mu masanyalaze ag'ekika.
- Okwetegereza okw'amaanyi: Ono anyweza okuteeka ku mukutu ku bintu byonna. Eno yateekawo omukutu ogw'amaanyi ku bintu eby'amaanyi n'obutono eby'ekikula ebyandibadde mu bbeeyi ya bintu eby'amaanyi eby'ekikula ebiri mu masanyalaze ag'ekika. Liquidity: Kubanga z'okusasulidwa zikwata mu pool, waliwo ekitundu ekirina, nga mu masoko ag'ekikadde awatali obukadde bw'amasoko ng'okusasulidwa kw'ekikadde kusinga.
- Obulungi n'Obukadde: Obulamu bw'abalina buno bweguli bw'ekikadde: kungaanya wallet yo, wyb'ekikadde n'ekikadde ky'ogenda okukola, era osasule. Ebyokulabirako ebikadde bikwatiddwa ekyali mumikwano mu smart contract.
- Obulungi bw'ekitangaala: Ebisanyizo byonna n'obutambi bw'ekikopo biri ku blockchain, nga birabika buli muntu asobola okukola audit.
- Obukugu bw'okuzaala ku LPs: Okutwala obutambi ku bintu by'ekikopo kisobozesa abawandiisi ba crypto okuzaala obugagga obutali mu kifo mu bifo byabwe.
Okukola mu Muwendo Ogw'Enkalu: Ebyokulabirako n'Obuzibu bw'AMMs
Obutafaananako, ekiragiro kya AMM tekirina kwegatta n'ebyokulabirako. Okutegeera ebyo kisobozesa omuntu yenna okuba mu kifo.
1. Okulwaza Okutakiddwa (IL): Ekizibu ky'Omuwandiisi w'Obutale
Ekinoonyereza kino kye kisinga okwogera ku kibiina era kisinziira ku kutatanya. Okulwaza Okutakiddwa si kuggya kw'amatokisi; ekyali ekyali muwendo.
Ekibaawo kibeera mu kiseera nga ek price y’ebyobulamu byo ebyakuwandiikibwa kyeyongedde okwewandiika mu kiseera nga owandiikiddwa. Algorithm ya AMM ebalansiza pool okukuuma k ekyama, nga kityo ojja kuba n’ebyobulamu ebikola bulungi bingi n’ebyobulamu ebikola bubi bungi okusinga bwe wandyikiddwa mu wallet yo.
Ekikadde ekyenkye ekikula, ekyenkye ekikula ekirina obugumu bw'ekikula ekikola. Kiki "ekikula" kubanga singa emiwendo egenda mu mbeera y'ekika ky'osizza, ekikula kiva mu bifo. Naye, singa osibira mu mbeera ng'emiwendo giyingira, ekikula kiva mu bifo kiva mu bifo.
2. Obuzibu bw'ekikola ekikola
AMMs zikola ku bikoledde, ebyo ebikola ebikozze za code. Oba bw'oba n'ekikozesebwa mu code, kisobola okwekwasa abateekateeka, nga kisobola okuleeta okufuna obutaliimu bw'ensimbi mu pool. N'ekikozesebwa kisinga okukozesebwa, obuzibu tebusobola kuba bungi.
3. Slippage
Slippage ye kizinga ekiri mu kizinga ky'ekikwekweto n'ekisinga okuba. Mu kukwekula okw'ekikwekweto okung'ana ku pool, okwekwasa kumwe.
ekyali muwendo w'ek price (kubanga ku x * y = k ekikozesebwa), nga kisobola okuleeta slippage enkulu. Abakola ku by'ekikula basaanidde okuteeka slippage tolerances okwewala okwewandiisa obutafaanana.
Okusuka ku Bintu: Okukula kw'AMMs
Ekisanyizo eky'ekika x * y = k kiri mu nteekateeka. Okulaba ku bikwata ku bizinga byakyo (nga slippage enkulu ne impermanent
- Concentrated Liquidity (Uniswap V3): Eyi na-enye LPs ohere ịnye liquidity n'ime ọnụahịa ụfọdụ kama n'ozuzu ọnụahịa (0 ruo n'infinity). Nke a na-eme ka arụmọrụ akụ na ụba dịkwuo elu maka LPs ma belata slippage maka ndị na-ere ahịa, mana ọ na-achọkwa njikwa dị ukwuu.
- Stablecoin AMMs (Curve Finance): Ezi zikozi formulas ezikhethekile ezilungiselelwe ama-stablecoin pairs (isb. USDC/USDT) noma asethekiwe afana okukhuluma ngawo okumele athengiswe eduze kwe-1:1 ratio. Lokhu kunciphisa ukulahleka nokulahleka okungapheli kwalezi zimbili ezithile.
- Imodeli Ehlanganisiwe: Amadex amaningi namacex anemisebenzi ye-AMM asebenzisa imodeli ehlanganisiwe ehlanganisa oddeka buku na AMM liquidity okuzza obulamu obulungi: obulamu obw'amaanyi n'okukozesa obutono.
AMMs mu Nsi y'Exbix: Okutandikira CeFi ne DeFi
Ebikozesebwa mu bbeeyi za cryptocurrency zisobola okutegeera obuyinza bwa AMMs. Ekitundu nga Exbix kikozesa ebikozesebwa bino okuzza okuliriza mukukola kwa omukugu mu nsi y'ebyokulya.
1. Okulabirako ku Spot Trading Liquidity: Obutonde obw'amaanyi obusaba mu spot trading ku bipya eby'enjawulo ng' ETC/USDT bujjanjabirwa n'amaanyi g'ekikozesebwa nga AMM ne market-making algorithms, ensuring you get the best possible price with minimal slippage.
2. Futures Trading Foundation: Obulamu n'ekitiibwa ky'ensimbi n'ekikula ky'ekprice ebyakolebwa AMMs byongera ku bulungi n'ekirungi ky'amaanyi agakolebwa ku ndabika ezikozesebwa mu perpetual swap ne futures contracts. Ekitundu ky'amaanyi mu bintu byonna buli mu nsi y'obulamu bw'amaanyi mu masoko g'ebyokulonda.
3. Ekikadde ku DeFi: Ku bakozesa abateekateeka okwejjukanya ku nsonga ku mukutu ogukozesebwa nga Exbix, okutegeera AMMs kye kimu ku nsonga ez'okuva mu nsi enkulu ya DeFi, we bano bayinza okubeera abakozi b'amaanyi g'ebyokulonda n'abakola ku byokulonda.
Ekitangaala ky'AMMs: Twandibadde tukyusa biki okuva wano?
Obulamu mu nsalo eno bujjuvu. Tusobola okutegeera:
- Cross-Chain AMMs: Amateeka agayamba okwewandiisa n'okuwandiika obuwangwa mu nsalo ez'enjawulo (nga, Ethereum, Binance Smart Chain, Solana).
- Okukola Obukugu Obugumu: Ebyemikisa ebipya bijja okubeera mu mbeera ezikola bulungi. kugaba obutafaananako obutaliimu n'okukulaakulanya ebyawandiikiddwa ku LPs.
- Okusanyusa mu DeFi: Okusanyusa okw'amaanyi n'ekikozesebwa mu kutwala, okufuna, n'amaanyi g'ekikozesebwa okuzzaamu ebyokulabirako ebisinga obulungi mu byensimbi.
- Okukola obukulembeze obw'amaanyi: Amatikkira ga LP gajja n'obukulembeze, nga bw'otyo abawandiisi b'ebyensimbi basobola okwewandiisa ku bikwata ku mulembe gw'ekikozesebwa, nga bityo kisobozesa okwongera ku ekitundu ezikozesebwa mu nsi yonna ezikozesebwa mu by'obufuzi.
Okumaliriza: Ekikadde ekya Soko Ekitandika
Abakola ku Masoko abategekeddwa (Automated Market Makers) bakyusizza obutonde bw'eby'obufuzi mu ngeri etali ya bulijjo. Bawezezza obutonde bw'amasoko, baakola eby'ekikula ky'amaanyi, era baawa essuubi erisinga mu nsi yonna ya DeFi ne mu biseera eby'omu maaso. Naye bakyusa obutonde obutalina kisinga n'ekizibu eky'amaanyi, era ebbe ezikika ng'ekyamu, obulungi bwabwe mu nsonga y'okusobola, obulungi, n'okusaba tebusobola kutalina.
Beeyambako mu kutandika okwekalanya okuva mu nsi y'okusaba okwekalanya okudda mu nsi y'ekikozesebwa ky'obukugu. Naye oba oyinza okuba omutendesi asaba okufuna ekitangaala ku TRX trades oba omukwano ogusaba okuyingira mu byobugagga, okwetegekera AMMs si kyekyetaagisa—kigenda mu maaso mu byobugagga eby’amaanyi mu nsi ya kifo.
Enjogera ezitandika ziri mu mirimu, era ziri mu kuteekateeka omukago gw’ebyobugagga obutakwatibwa.
Okukakasa: Ekitabo kino kiri ku nsonga z’okuzaala n’okusobola okwewandiika, si mwefuga mu byobugagga. Nnyinza okwewala okw’amaanyi. nyanja (DYOR) ndi kumvetsetsa ngozi zomwe zili ndi chiyembekezo chachikulu musanapereke ndalama kapena kugulitsa ma cryptocurrency. Mtengo wa ndalama ungathe kutsika komanso kukwera.
