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  • 中文
    • 入门
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On this page
  • 流动性
  • 兑换价格
  • 无常损失
  • 自动退币
  • LP Token
  • LP Token 列表
  • 收益发放
  • Route

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  1. 中文

交易

流动性

流动性即交易对池子里面两种币的数量 X 和 Y,引擎通过一个函数 X x Y = K 来维持一条可进行交易的曲线,在不考虑兑换手续费的情况下,兑换币不会改变 K 值,X 变多,那么 Y 就会变少。兑换产生的手续费和更多的流动性注入都会使 K 变大,注入流动性必须同时注入两种币。

池子第一次注入流动性的时候,可以自定义注入比例,也就是定价,并且引擎会扣掉 0.00000001 的流动性永久留在池子里面,保证池子不会被提取枯竭,价格被重置;后续注入的流动性必须按照池子当时的比例,比例偏差超出 1% 的会被引擎撤回退款。

提供流动性的收益来源主要是兑换手续费,兑换产生的手续费是留在池子里面的,源源不断的交易会使池子的流动性深度不断增长。

兑换价格

兑换价格完全由池子深度和下单的数量决定。

随着交易的进行,交易对的价格是同步变化的。这里会有一个问题是,当引擎处理到你的订单的时候,可能价格已经不是下单的时候那个价格了,偏差较大的话,就会以一个与预期很不符的价格成交。为了避免这种情况,ExinSwap 具有交易滑点判断的机制,而且支持自定义配置。下单的时候,会同时提交一个最小买入量,如果买到的币不到这个数量,则取消订单并退款。

无常损失

无常损失(Impermanent loss),又称作非永久性损失、暂时性损失。

用户向平台提供流动性,存在亏损风险,被称为无常损失。由于自动化做市商 (AMM) 的设计机制,可能会导致在外部价格变化时,如果没有套利者的介入,AMM 平台不会自动变动价格。而这时候,外部套利者会借助于平台跟外部交易所之间的价差从中获得利润。而与此同时,为平台提供流动性的用户,却遭受了损失。

一旦出现了这种情形,用户就没有动力去参与,因为原本他们希望获得收益才参与其中,却因为价差而亏损。这样一来,他们原来可以通过中心化交易所获得更大的利润,却因为在自动化做市商平台提供流动性而亏了钱。

自动退币

当您为资金池注入流动性时,如果错误的只存入了一种币,ExinSwap 将会取消订单,并且在「5 分钟」后给您退币。退回的币种自动存入您的 Mixin 钱包。

此外,当您为资金池注入流动性,同时注入了两种币种,也有可能根据比例退回多余的币种。

LP Token

LP Token 主要是指提供流动性做市商的凭证,是 DEX 去中心化交易系统给做市商发的做市 Token,也可以理解为某个代币的股权份额。

LP Token 列表

Symbol
Mixin Snapshots

USDT-XIN

WGT-XIN

USDT-WGT

USDT-EOS

EOS-BTC

USDT-BTC

ETH-USDT

BTC-XIN

ETH-XIN

EOS-XIN

USDT-BOX

ETH-BTC

pUSD-USDT

pUSD-BTC

pUSD-XIN

pUSD-MOB

pUSD-ETH

pUSD-EOS

pUSD-BOX

XIN-MOB

ETH-EOS

BTC-MOB

BTC-BOX

DOT-XIN

DOT-BTC

pUSD-DOT

pUSD-UNI

UNI-BTC

UNI-XIN

ONE-XIN

ONE-BTC

ONE-pUSD

PRS-XIN

PRS-BTC

pUSD-PRS

pUSD-VCASH

VCASH-BTC

VCASH-XIN

pUSD-DOGE

DOGE-BTC

DOGE-XIN

GRIN-pUSD

GRIN-BTC

GRIN-XIN

USDT-USDT

USDT-USDT

PRS-BOX

CANDYBOX-pUSD

CANDYBOX-XIN

CANDYBOX-BTC

FIL-pUSD

FIL-XIN

FIL-BTC

BNB-pUSD

BNB-XIN

BNB-BTC

XRP-pUSD

XRP-XIN

XRP-BTC

pUSD-LTC

LTC-XIN

LTC-BTC

pUSD-LINK

XIN-LINK

BTC-LINK

pUSD-ZEN

ZEN-XIN

ZEN-BTC

pUSD-BCH

XIN-BCH

BTC-BCH

TRX-pUSD

TRX-XIN

TRX-BTC

pUSD-BTT

BTT-XIN

BTT-BTC

pUSD-XLM

XLM-XIN

XLM-BTC

pUSD-USDC

WBTC-BTC

pUSD-SOL

SOL-XIN

SOL-BTC

pUSD-SHIB

XIN-SHIB

BTC-SHIB

DOGE-SHIB

ETH-SOL

pUSD-RUM

RUM-XIN

RUM-BTC

收益发放

收到的手续费直接放到池子,LP Token 代表了池子里的权益。简单点说你的 LP Token 权益增加,值更多币了,多出来的就是赚到的手续费。

Route

Route 功能,简单理解就是以最优路径进行任意币种的兑换,即使在存入流动性时,并没有这个交易对。

比如目前 ExinSwap 还没有 WGT-EOS 交易对,但是您也可以将 WGT 兑换为 EOS。交易执行会自动寻找最佳路径,比如目前将 WGT 兑换为 EOS 的兑换路径为:WGT—>USDT,USDT—>EOS,也就是使用了 USDT 作为中转。将 A 币种兑换为 B 种,实际兑换路径可能比这复杂。

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Last updated 2 years ago

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以 USDT-XIN 交易对为例,其对应的 LP Token 叫做「USDT-XIN」,全称叫做「USDT(Ether)-XIN(Ether) LP Token」,在 Mixin Network 的 Asset ID 为 e2e4e54a-92f4-3677-ba57-f2555d7cb019,您可以在 查看 LP Token 的交易记录。

Mixin 浏览器
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