Automated Market Makers (AMMs): Maturukire Akasimba Anoshandura Kutengesa KweCrypto

Kwemakore akawanda, pfungwa yekutengesa yaive nyore: mutengi nemutengesi vaifanira kubvumirana pamutengo wezvinhu, kazhinji vachibatsirwa nemusangano wepakati se stock exchange kana broker. Iyi yaive ngano yemabhuku ekuraira. Ipapo, tekinoroji ye blockchain nemari dze cryptocurrency dzakasvika, dzichivimbisa kusarudzika. Asi kwenguva yakareba, kunyange ma crypto exchanges akatevedzera muenzaniso wechinyakare, achivimba ne

mabhuku akarongeka. Chikuru chakatanga chisingabvi pakungotora zvinhu zviri pamagetsi; chakatanga kubva pakugadzira musika pachayo.

Ingai Automated Market Makers (AMMs).

Iyi nzira itsva haina kungovandudza kutengeserana; yakachinja zvachose maitiro acho. Yakabvisa chido chemutengi, yakabvisa mabhuku ekuraira, uye yakavhura mari misika kune chero munhu ane smartphone uye kubatana kweinternet. Mu gwaro iri rakazara, tichapatsanura mashiripiti eAMMs. Tichafamba kubva pamisimboti yavo yakakosha kusvika kumamodeli avo akaoma emathematics, tichiongorora mikana yavanoita kune vashandisi nevadyidzani, uye tichatarisa maitiro avanoita mukubatana nemapuratifomu epamusoro ekutengesa se Exbix kupa chiyero chisingaite, kubva kumisika yechinguva kusvika kumisika yechikwereti.

Chii chinonzi Automated Market Maker (AMM)? Shanduko yeParadigm

Automated Market Maker (AMM) is protocol ye decentralized exchange (DEX) inotora pamutemo wepamusoro kuti ipe mitengo yezvinhu. Panzvimbo pekuti kuenzanisa vatengi nevashambadzi, AMM inoshandisa chikamu chekuwanika chakabhadharwa kare uko vashandisi vanogona kutengesa vachipesana nechikamu chezvinhu.

Funga nezvazvo sekuti chiteshi chekutengesa mari chiri otomatiki, chiri nguva dzose chakavhurika. Hauzodi kuwana munhu chaiye anoda kutengesa maEuro ake kumadhora ako. Unongopinda muchiteshi, isa madhora ako, uye uwane maEuro achibuda pamutengo unotemerwa ne chikero chakasimba. Zvinhu zviri mu kiosk (mari inowanikwa) zvinopihwa nevamwe vanhu vakaisa mari mukati mayo, vachikunda mari pamasevhisi avo.

Pfilosofi huru ndeye decentralization uye permissionlessness:

• Hapana Central Order Book: Hapana chinyorwa chikuru chekuraira kutenga nekutengesa.
• Hapana Counterparty Risk: Unotengesa zvakananga ne smart contract inotonga pool.
• Inogara Iri Pamusoro: Misika iripo 24/7, pasina kutanga kana kupedza mabhii.
• Pasina mvumo: Munhu wese anogona kuva mutengesi wemari (LP) uye kuwana mari, uye chero purojekiti inogona kugadzira musika we token yayo.

Uyu muenzaniso ndiwo musimboti we Ecosystem yeDecentralized Finance (DeFi), ichikurudzira makambani makuru akadai seUniswap, SushiSwap, uye PancakeSwap, uye chinhu chakakosha pamisika yakasimba ye centralized senge Exbix Markets iyo inobatanidza musiyano pakati peCeFi neDeFi mukushanda.

Mwoyo Unorova: AMMs Anoshanda Sei

Chokwadi Basa?

Kuti tinzwisise mashandiro, tinofanira kupatsanura zvikamu zviviri zvakakosha: Mapool eLiquidity uye Fomula yeChigadzirwa Chisingachinji.

1. Mapool eLiquidity: Nzvimbo yeZvivakwa

Pool yeLiquidity chibvumirano chakasmart chinobata mari dzemhando mbiri kana kupfuura dzecryptocurrency. Semuenzaniso, imwe ETH/USDT chiteshi ine Ethereum ne Tether. Chiteshi idzi dzinotsigirwa ne Vapayi veMukana (LPs)—vashandisi vanoshandisa kukosha kwakafanana kwemhando mbiri dzezvinhu mukuchiteshi.

Sei vachizviita? Kuti vawane mari dzekutengesa. Panguva imwe neimwe mutengesi paanoshanda nechiteshi kuchinjisa chinhu chimwe kuenda kune chimwe, mari diki (kazhinji 0.01% kusvika 0.3%) inobhadharwa uye yakagoverwa zvakaenzana kune vese LPs vari mupool iyoyo. Iyi inzira yokushandisa midziyo yako yecrypto uye kugadzira goho, pfungwa inowanzonzi yield farming.

Paunopa liquidity, unowana LP tokens sechikwereti. Matokens aya anomiririra mugove wako wepools yese uye anogona kutorwazve gare gare kuti uwane chikamu chako chemidziyo pamwe ne mariro akakwana. Iyi nzira inobatanidzwa zvakanaka mumapuratifomu akadai seExbix, ichibvumira vashandisi kupinda nyore muhurongwa hwekuwanikwa kwechikamu.

2. Fomula Inoshamisa: x * y = k

Fomula inonyanya kushandiswa uye yakakosha inoshanda neAMMs akadai seUniswap V2 ndiyo Constant Product Market Maker modhi.

Fomula iyi ndiyo simple: x * y = k

• x = huwandu hweAsset A mu pool (semuenzaniso, ETH)
• y = huwandu hweAsset B mu pool (semuenzaniso, USDT)
• k = chiyero chinofanirwa kugara chiri chimwe chete

Iyi fomula inova nechokwadi chekuti chigadzirwa chehuwandu hwemhando mbiri dzeaseti chinofanirwa kugara kuenzanisa k. Iyi mitemo iri nyore ine zvinoreva zvakadzama pakutengesa uye kuwanikwa.

Inoita sei kuti iite mutengo?
Mutengo wezvinhu unotsanangurwa nehurongwa hwezvinhu zviri mukati mepombi. Kana mumwe munhu akatenga ETH yakawanda kubva mupombi, vanoderedza kuwanikwa kweETH (x) uye vawedzera USDT yakawanda (y). Kuti chengetedza k ichisara, kuderedzwa kwe x kunokonzeresa kuti mutengo we ETH ukwire kumutengesi anotevera. Iyi ndiyo nzira iyo algorithm inogadzirisa mitengo otomatiki zvichienderana nekupa uye kudiwa mukati mepurazi.

Izvi zvinotungamirirwa nemathematics otomatiki ndizvo zvinoita kuti ugone kuita kutengeserana pakarepo pamapair akadai se TRX/USDT kana SHIB/USDT pasina kumirira mutengesi kuti akwane odha yako yekutenga.

Nzvimbo yeVashandi: Zvakanakira Kushandisa AMMs

Modhi yeAMM inopa mabhenefiti akawanda akaita kuti ave nepopular.

• Kuwanikwa Kusingaenzaniswi: Munhu wese anogona kugadzira musika wechero token. Izvi zvakachinja mutambo kumakristptocurrencies matsva uye ane mari shoma ayo angave akasangana nematambudziko ekupinze pamisika mikuru yakazvimirira.
• Kuenderera Mberi Liquidity: Sezvo kutengeswa kuchiitwa kupikisa padhiri, nguva dzose kune imwe liquidity iripo, kusiyana nemisika ine order book diki uko maodha makuru haakwanisi kuzadzikiswa.
• Kurerukirwa uye Kumhanya: Chiitiko chemut user chiri nyore zvikuru: batanidza chikwama chako, sarudza ma token ekupinza uye ekubuda, uye shandura. Maitiro akaoma anobatwa mashure emashure ne smart contract.
• Kujeka: Maitiro ese uye mabhalansi epool ari pa blockchain, anowanikwa kune wese anogona kuongorora.
• Kukwanisa Kuwana Mari kuLPs: Kupa liquidity kunobvumira varidzi vecrypto kuwana mari isingabatsiri pamari dzingadai dzakagara dzisina kushandiswa muwallet dzavo.

Kufamba muMugwagwa Wakadzika: Njodzi neMhinduro dzeAMMs

Kunyangwe zvichikosha, muenzaniso weAMM hauna njodzi dzisina. Kunzwisisa izvi kwakakosha kune chero mutambi.

1. Kurasikirwa Kwechinguvana (IL): Dambudziko reMutengesi weLiquidity

Iyi ndiyo njodzi inonyanya kutaurwa uye kazhinji inonzwisiswa zvisiri izvo. Kurasikirwa Kwechinguvana hakusi kurasikirwa kwematokisi; izvi mutengo wekutambisa.

Izvi zvinoitika kana mutengo wezvinhu zvawakaisa uchichinja kana uchienzaniswa nenguva yawakaisa. Algorithm yeAMM inogadzirisa chibatiso kuti irambe ichichengetedza k chigaro, zvichireva kuti uchava nezvishoma zvezvinhu zvinobudirira uye zvakawanda zvezvinhu zvisingabudiri pane kana wakangotora nguva uchizvichengeta muwallet yako.

Iyo kukuru kwekushanduka, kukuru kwekugadzirisa kwekurasikirwa kwechinguva. Icho chiri “chisingaperi” nekuti kana mitengo ikadzokera kumaitiro ayo ekutanga pawakaisa, kurasikirwa kunonyangarika. Zvisinei, kana ukabvisa kana mitengo yachinja, kurasikirwa kunova kwechigarire.

2. Njodzi yeSmart Contract

AMMs anomhanya pamakontrakiti akangwara, ayo ari zvikamu zvekodhi. Kana paine bug kana kusagadzikana mukodhi, zvinogona kushandiswa neva hacker, zvichikonzera kurasikirwa nemari dzose mudura. Kunyange zvazvo kuongororwa kuchiitika kazhinji, njodzi haina kumira pa zero.

3. Slippage

Slippage mutsauko uripo pakati pemutengo wakatarisirwa wekutengeserana uye mutengo wakaitwa. Mukutengeserana kukuru kuchienzaniswa nehukuru hwedura, kuchinjana kumwe chete kunogona kufambisa mutengo zvakanyanya (nekuda kwe x * y = k fomula), zvichikonzera kutenderera kukuru. Vatengesi vanofanirwa kumisa miganhu yekutenderera kuti vadzivise kutengeserana kusina kunaka.

Kupfuura Zvakajairika: Shanduko yeAMMs

Muenzaniso wakapusa x * y = k waive kutanga chete. Kuti tigadzirise matambudziko awo (senge kutenderera kwakanyanya uye kusagadzikana kuparara), mamodheru matsva akabuda:

• Concentrated Liquidity (Uniswap V3): Izvi zvinobvumira LPs kupa liquidity mukati memitengo yakatarwa panzvimbo pekupa pamutengo wese (0 kusvika kumagumo). Izvi zvinowedzera zvakanyanya kushanda kwemari kweLPs uye kuderedza slippage kune vatengesi, asi zvinoda kutarisirwa kwakanyanya.
• Stablecoin AMMs (Curve Finance): Aya anoshandisa mafomula akasarudzika akagadzirirwa mapairi e stablecoin (semuenzaniso, USDC/USDT) kana zvinhu zvakafanana zvinotarisirwa kutengeswa pedyo ne 1:1 ratio. Izvi zvinoderedza slippage uye impermanent loss kumapairi aya chaiwo.
• Hybrid Models: Mazhinji emazuva ano DEXs neCEXs ane AMM maficha anoshandisa mhando dzemhando dzakasanganiswa dzinobatanidza odha mabhuku ane AMM liquidity kuti ape zvakanakisisa zvese: deep liquidity uye minimal slippage.

AMMs muExbix Ecosystem: Kubatanidza CeFi neDeFi

Masangano emazuva ano e cryptocurrency anzwisisa simba reAMMs. Chikuva chakadai se Exbix chinobatsira nemisimboti iyi kuti kuvandudza chiitiko chevashandisi mukati mehurongwa hwayo hwezvigadzirwa.

1. Kuwedzerwa kweSpot Trading Liquidity: Iyo yakadzika liquidity inodiwa kuti pave nekutengesa kwechokwadi pasina matambudziko pamapair akakosha akadai se ETC/USDT inowanzowedzerwa nemaitiro akafanana neAMM uye maalgorithms ekugadzira musika, ichokwadi kuti unowana mutengo wakanakisisa pamwe nekuderera kwekushanduka.

2. Chivako cheKutengesa Kwemangwana: Kuwanda kwemari uye kuwanikwa kwemutengo kunobatsira mukugadzikana uye kunyatsojeka kwemaitiro ari pasi anotsigira perpetual swap uye makontrakiti emangwana. Misika yakasimba yechikamu ndiyo chimbuko chemasoko akasimba.

3. Chikamu cheDeFi: Kune vashandisi vanotanga rwendo rwavo papuratifomu yakazvimiririra seExbix, kunzwisisa AMMs ndiyo nhanho yokutanga muupenyu hukuru hweDeFi, uko vanogona kuva vanopa mvura vanoshanda uye varimi vemari.

Ramangwana reAMMs: Tichapinda kupi kubva pano?

Kusimudzira mune iyi nzvimbo hakupinze. Tinogona kutarisira kuona:

• Cross-Chain AMMs: Maitiro anobvumira kuchinjana kwakanaka uye kupa mari pakati pemablockchains akasiyana (semuenzaniso, Ethereum, Binance Smart Chain, Solana).
• Kusimudzira Kwekushandisa Capital: Mamodels matsva acharamba achibuda ayo anowedzera diminisa kurasikirwa kwechinguva uye kuwedzera kudzoka kweLPs.
• Kubatana neDeFi: Kubatana kwakadzama nemaitiro ekukweretesa, kukwereta, uye sarudzo kuti tigadzire zvigadzirwa zvemari zvakanyanya kuoma.
• Kuvandudzwa kweHutungamiri: Maturusi eLP anowanzopa kodzero dzekutungamira, zvichireva kuti vanopa mari vanogona kuvhota pamusoro pechikamu chemangwana cheprotocol, zvichikonzera kuwedzera masangano akazvimiririra uye anownedzwa nenharaunda.

Mhedziso: Iyo Itsva Musika Standard

Automated Market Makers akachinja zvisingadzoreki nzvimbo yefinance. Akagadzirisa kugadzirwa kwemisika, akavhura nzira itsva dzezviwanikwa zvisina kushanda, uye akapa iyo yakakosha liquidity layer yeDeFi summer yese uye kupfuura. Nepo vachitanga kuunza zvakaoma zvitsva uye njodzi dzakadai sekupera kwekugadzirisa, asi mabhenefiti awo maererano nekusvika, kushanda, uye hunyanzvi haana kupikiswa.

Ivo vanomiririra shanduko yakakosha kubva munyika yemaitiro akafanana kuenda kunyika yealgorithmic liquidity. Chero uri mutengesi ari kutsvaga kuita zviri nani pa TRX kutengeserana kana uri mutengesi anotsvaga, kunzwisisa AMMs hakuchina kusarudzwa—izvi zvave zvakakosha kune chero munhu ari kufamba muupfumi hwecrypto hwemazuva ano.

Michina inoshanda pasina ruzha, uye iri kusimudzira ramangwana remari yakazaruka.

Chirevo: Chinyorwa ichi chiri chedzidzo chete uye hachisi chirevo chemari. Gara uchizviita wega tsvakurudzo (DYOR) uye kunzwisisa njodzi dzakabatana usati wapihwa mari kana kutengesa cryptocurrencies. Kukosha kwekudyara kunogona kudzikira sezvazvinokwira.