??: Can Gurel ,??????? Delphi Digital ???????????????????,
??:Perry Wang
????
- THORChain ???????????????????????????,??????????????? ETH ,??????????? THORChain ????????????????????????????,?????????????????????????, THORChain ????????????????,THORChain ???????????(? 6000 ???)??????????(? 750 ???),????????????????????(LP) ???,
- ? THORChain ???????? ChaosNet (MCCN)??,????????,? THORChain ???????(LP)????????????? APY,???? 45%,?????????????????????????(Incentive Pendulum),?????????????? LP?????????????????? ChaosNet ?????????????,???? 3000 ? Rune,?????? Bonder ? LP ????????,? LP ?????????,???????????,????????,
- ????????????????,????????????? 6 ????,???????????? 0.3% ??,
- ????? ETH ??????????????,??????????????????????????,?????? LP ? Bonder ???????,????????????????,????????????,???????? LP ? Bonder ??,??????????,
- THORChain ???? THORSynths,?? THORChain ????????,THORSynths ?????????????????,???????????????,?? THORSynths ????????(???????? Rune ???), THORSynths ??????????????????,
- ?? THORSynths ? LP ????????,? THORSynths ?????????????? ??,??????? LP ,????? APY ??? 20%?
- THORSynths ? THORChain ??????????????,????????????????,
- iRune ?? THORSynths ???,?? Rune ?????,?????????????????????????????????????,????????????,??? Rune ?????,????????????????????,
??? THORChain ????????(??????:?Delphi Digital:???? THORChain ?????????????? ; ????: ?Delphi Digital:???? THORChain ?????????)????? 2019 ? 12 ??,????,RUNE ???????????? 10 ???? THORChain ????? DEX ?????????????????????,?????? ChaosNet ????? ChaosNet,
??????????????? THORChain ?????????,??????? 3 ??:
- ?????????????????????????;
- ?????? THORChain ?? ChaosNet ?????;
- ??,??????? THORSynths ? iRune,???? THORChain ?????????,
?????:??????,???????
?????????????,THORChain ?????????????,????????? THORChain ?????????????,??????????? THORChain ?????????????
??????,????? THOR ???????? ETH,???????,????????????????????????,?????????? ETH ?????????,??? ETH ? 350 ????????????????
????????????????? ETH,?????????????????????,????????????,???? THORChain ??????????????? 4,240 ETH ?????,??? Rune ?????
????,THORChain ?????????????????????,
THOR ?????????????????,????????????????,????????????,??????? LP ??????????,????????????,THORChain ?????????,????????????????????????? ?????
?? Rune ????,? THORChain ??????? 6000 ??????,??? 3000 ????? Rune ??,??,????????? LP ???????? Rune,
???????,??????????????,???????????????????,??????????,
??,THORChain ??????????????(Halborn ? ToB)??????????????????,?????????????? ?????????,????????????,??????,?????????????????????????????????????????????????????????????,
??????????LP???????????????????????????,??????????????????????,
??????????????????,?????????,THORChain ???????????,??????????????????? THORChain ?????,???? THORChain ?????,?????????????????,
?????? ChaosNet ????
????????????,??????????????????,??????????? THORChain ???????,
THORChain ?????????????(Swaps)????????? 3 ???:?????(Liquidity Fee)?????(Network Fee)?????(Outbound Fee)?
??????????????????;?????????? THORChain ???????????? gas (?????? 0.02 Rune);??????? THORChain ????????????????? gas ??,?????? Rune ????????????????(?)????????,
???????????????,?? Bonder ???????????,???????????????????????????????????????,?????????????????????????? Rune ????,???????,??????????????,??????????? 1/6???,????????? LP ??,???????? (Impermanent Loss/IL)?
?????????????,???????????
LP ? THORChain ?????? ??? THORChain ??????????????,LP ??????????????????
??????? LP ??? APY?
????,LP ??????? APY ? 35%?????????????????,?????,
??????,???????????????????,????????? ChaosNet ?????
THORChain ??? 4 ????????(2 ? Standy?1 ????? ChaosNet?1 ??? ChaosNet)??? 2 ?????? Rune ????Standy ????? ChaosNet ????????????? ChaosNet ????,??????????????? ChaosNet ???(?????????),
?????????????????,???? Rune ????? ChaosNet ????,?????????,
??????,?????????????????????? 1/4,??????? 1/6 ????,??????????????? APY???? ChaosNet ??,????????,????????????,??? 2 ? Rune (?????? Rune ???),???????(???:????????,7 ? 20 ??????????)??? 7.2 ???,??,?????????????????????
??,THORChain ??????? 1.4 ???,??? 26 ?????,??????? 5 ?????????? APY; ? BTC?ETH?BNB????(BUSD?USDT ? USDC),???????? 250 ???????????,???????????,xRUNE ???????????
??????????????????:
???????????? 5 ???? APY??? APY ??????????; ??? ~50%,BNB ~40%,BTC ? ETH ~30%,?????? ~25%?
????? THORChain ???
(???:????????????? THORChain ???????,???? ????? THORChain ????????? ??)
???????????, THORChain ???????? ChaosNet ?????????
???????,???????????(Liquidity Unit)???????????????,?????????????????,? LP ?????????,?????????,?? LP ??????????????,???????????????????????????????? LP ???????????????,???????????????????????????,??????????????????
????,?????????????????? 5 ? 17 ?? 22 ?? 6 ? 16 ?? 21 ????????????????????????Rune ???? 6 ? 3 ?? 12 ??????,???????????????,????,??????????????????,??????????,
???????????,????? 3 ???:
- ??? LP ????????????,??????,LP ??????????????????????????? LP ?????????????,????????????????,???????????
- ILP (????????)???????????,THORChain ?? ILP,??????????,?? LP ????????? > 100 ?,LP ?????????? 50% Rune ? 50% ?? ??????????? 1%,??? 100 ??????,??????????? IL,??? ILP ?????????
- THORChain ?? LP ??? AMM ?? LP ??,?????????,?????????????,??? LP ????????????,
THORChain ?????????? LP ???????????,???? ChaosNet ???????????????????????????????
???????????????: THORChain ???????????? Rune ??????? Rune ???? 2/1?????????? 2.7 ? Rune,???????????? Rune ? 2400 ?,???? LP ??????? Rune ??,??????????????????????,??? Rune ???????????,??????(churning)??,?????????????????????????????????,???????????????
???????????????????? 3 ?,???????????????,????????????????,?????????????????????????? Rune ??,????????????????
??? Rune ??????????? Rune ???? LP ???? Rune ??? 2 ??,????????,???????, ????????????,LP ??????????,????????????,THORChain ???????????????????,????? Rune ?????,???????????????,??,??????,?????,???????????? LP ???? Rune ?????????
???????????????,??????? 1 ???,???????????????????????,??????????????,?????????????,????????????????????????????????????????? 2.5 ?,????????????????????????????,?????????????????????
?????,? 6 ???,?????????? 0.3% ????,??????;???????????????,
????,?????????????????????? / ??????,?????????????????,???????????????????,????? THORChain (?????? Rune)?????????????,????????????,??????????????????,???? THORChain ? 100 ????????????? 100 ?????????
??????????????????,???? <> ????????????? ChaosNet ?????????????????,? THORChain ??????????? THORChain ????????????????????????????????????,
???????????,??????????????????????????,???????,?????????????
??? THORChain ???,????? gas ???? THOR ?????? gas ????????????????????????, ??,???????????,THORChain ????????????? gas ?????????? gas ????,?????????? gas ? 3 ???????(?????????),?? gas ??????,1/3 ??????????? gas,1/3 ????????,1/3 ????????
????,??????????????????(?? ETH ??? ERC20 ??)?????,????????????????????,?????????????????(??)?????,?????? LP ? APY,????,?????????? LP ? Bonder ??,???? APY ???????????????????????,?????? ETH ???????????????,?????????????????????????????,??????????,??????????????,??? LP ? APY ?????
?????? gas ??????????????????,?????,?????? gas ????????,?????????????????????????????????????????????,
THORSynths:THORChain ?????
THORChain ????? THORSynths,THORSynths ????????????,?????? THORChain ?????
THORSynth ?????????????????????? ????,????????????
THORSynths ????????????,???????????????????,????? 100% ?????, 1 ???????? 50% ?????? 50% ????? Rune ?????
THORSynths ????? Rune ?????????,???? Rune ??????????THORSynths ?????????(????? + ????),???????? Rune ??????????,????,? LP ????,THORSynths ????????(IL)?
THORSynths ????????????????????????,????,?? THORSynths ?????????????????????,???????????????(????)????????????????????,THORSynths ?????? Thor ???(THORFi )??,?????????????????,
????,?????????? THORSynths ???,??????????,?????????,??,???? Rune ???????????????,???????,
?????????,????? gas ????????????????????,????? THORSynths ????????????????????THORSynths ????????????,??????????,? THORChain ?????????????
??,??????????????????,Synths ???????????????????
?? THORSynths ?????????????,??????????, ??,???????????? BTC ???????????????:???? THORSynths,BTC ? Rune ????????? 10 ????????? BTC ?????,? sBTC (BTC ???????)???????? 5 ?,????????
- ?? THORChain ??????????????,?????????? 2 ????????????????,????????????????????? THORChain ?,???????????????????????,????? THORSynths ??????????Rune ???????????
- ?? 1 ???, THORSynths ?????????????????,? THORChain ?,??????????(Swap Queue)??????????,????????? THOR ????????????????????,THORSynths ???????????????????????,sBTC ????????? BTC ????????????? sBTC,?????????????????????,
??, THORSynths ?????????????,???????????,? THORSynths ???????????,??????????????,?????????????????? LP?
???????????? THORSynths ??????????? THORSynths ? LP ????
??? Rune ?????????? THORSynths,???,???????? THORSynths ???(??? Rune)??? 50% ??????? 50% ????? Rune, THORSynths ???? LP ????????,??????????????????
Synths ????????? Synths ????,? LP ??????????????????????????(??????????),THORSynths ?????????????????????,?? Rune ?????????, THORSynths ??????????????,??? LP ??? Rune ?????????,? Rune ??????????,THORSynths ???????????,?? LP ??????? Rune,
????, THORSynths ?? LP ????? Rune ??????,THORSynths ???????????? 33%,
? LP ??????
THORSynths ? LP ??????????:????? LP ? 2 ??????????????? / ??,???????? 33%(??? 33%)? THORSynths,???? LP ????,
?????? LP ?????????,?????????,???? 500% ???????? LP ????????? 25%????,? THORSynths ??? 0% ????,??????;??????????,??????????????????????? THORSynths ????(????),LP ????????????????,?????,? Rune ?????????,LP ????,? Rune ?????????????,???,? Rune ??????????????? 2.27 ? (D) ?,LP ???? LP ?????
? Rune ?????????????? 1.5 ??,LP ????????,??????,?????????????????????????? LP ????,??????(????? + ????),???????? Y ?????????????? 33% Synths ? APY 35% ?????,LP ??????? (= 0.35/(1- 0.33/2)) B,??????? Synth ?????????,????????? 20%????,?? Synths ???,????????????????????,??????????????????,
???????,?????????,? Rune ???????,LP ??????????????? LP ????,????????????,LP ??????????(????-??)??? 100 ???????????????????????
??????:??????????????????????????????:???????????????????????,
?????,????????????????????????(?????????? 1/3)
?????,??????????????????????????????????????,???,????????????????,????????? 8000 RUNE?
????????,??????,??????????????,???????????????????,??????? Synths ?,????????????????????? LP ????????,???????????????,????????? LP ???,????????????,???????????????????????,???????? 2 ? Rune,???????? THORfi ???????
????
??????????????????????????,?????,Synths ??????,???????????????????????????(? 10%)????????????,?????? Bonder ? LP ?????(? 10%),???????,??????????,???????? Synth ??????????????,
?????????,?????,??????????? 20-47% ??????????,Synth ?????????????(20-47%)???,???????????????(10%),???????????????
THORChain ???????:iRune
?????????????????:????????????,Rune ?????????,?? iRune?
iRune ???????,???????,Rune ?????????,?? iRune ????? Rune ???????????????,???? iRune,Rune ?????????? Rune ( Total Pooled Rune )?????,???? iRune ????????????,???????????,
??? iRune ????????? Rune ?????????????,? Rune ??????????????,? Rune ????????????,?????? Synths ??? LP ????????,??,???,?????????? iRune/sAsset ??,?????? 33% ? Synth ???????,iRune ????????????,??? ?Synthi + Rune ??????,???????????; Total Bonded Rune > Total Pooled Run (= ? LP ??????? Rune + ?? iRune ??? + ?? Synth ???)?
?? sAsset ??,iRune (?? Rune)????????????,??? Rune ?????,?? THORChain ????????,???????????? Rune ???????????????,
??,iRune ??????????????????????????????,
iRune ????,????? iRune ???????????????,??????????????,???? Bonder ???,????????,
??
Synth ? iRune ????????????,???????????????????????????????????:
????:Delphi Ventures ???????? RUNE??????????????,???????????????????????,????????????,??????????????
