3个潜力DeFi板块代币
DeFi itself is a combination of multiple innovative distributed applications, including lending, DEX, stablecoins, derivative assets, and oracles. Two basic metrics for evaluating DeFi projects are:
TVL (Total Value Locked) and APV (Annual Amount Per Second).
DAX (Distributed Assets) is measured by trading volume and slippage.
Liquidity Protocol Analysis:
DEXs based on liquidity protocols emphasize exchange rather than trading. Their main feature is simplicity; users don't need to wait, they can directly exchange by entering the amount and asset.
Low fees and no matching mechanism provide a better trading experience than traditional DEXs, but order placement is not possible.
The principle of liquidity protocols:
Liquidity providers offer two assets of equal value, each accounting for 50%, at market prices.
Example: 1$ETH = 500 USDT. Core market-making formula: X × Y = K. Each time a liquidity provider deposits assets, the smart contract calculates and maintains a constant product of the two assets.
Example: The product of 10$ETH and 5000 USDT is 50000. Traders can exchange in real time. Example: A trader sells 0.1$ETH , then the price is 5000 - [50000 ÷ 10.1] = 49.5 USDT, with an additional 0.3% allocated as a mining reward to liquidity providers.
Arbitrageurs: They profit from favorable interest rate differentials to maintain a reasonable market price. Market makers, as liquidity providers (LPs), address mechanism and incentive issues. Impermanent loss refers to the temporary loss of assets when providing liquidity. "Earth Dogs": This refers to some small domestic teams that choose to conduct IUOs on Swap, injecting liquidity that could be absconded with at any time.
Deeply consider this question: Why do earth dogs always rise at the opening? X×Y=K Because there is no X in the outside world, only Y.
DEX replaced 2.5-3 tier exchanges in the ETH1 stage, replaced 2-2.5 tier exchanges in the ETH2 stage, and replaced 1.5-2 tier exchanges in the ETH2+ free cross-chain stage. Envisioning the ETH2+ free cross-chain + CBDC stage -- aiming at CEX, TOP#特朗普新版美国网络战略文件
