{"id":1337,"date":"2025-07-07T21:28:21","date_gmt":"2025-07-07T13:28:21","guid":{"rendered":"https:\/\/www.117store.com\/?p=1337"},"modified":"2025-07-07T21:28:21","modified_gmt":"2025-07-07T13:28:21","slug":"gate-ventures-%e7%a0%94%e7%a9%b6%e6%b4%9e%e5%af%9f%ef%bc%9a%e9%95%bf%e5%b0%be%e8%b5%84%e4%ba%a7%e7%9a%84%e5%b4%9b%e8%b5%b7%ef%bc%8c%e9%93%be%e4%b8%8a%e6%b5%81%e5%8a%a8%e6%80%a7%e5%a6%82%e4%bd%95","status":"publish","type":"post","link":"https:\/\/www.wxjqcz.com\/?p=1337","title":{"rendered":"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX"},"content":{"rendered":"<h1 class=\"art_tit\">Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX<\/h1>\n<div class=\"content_text\">\n<p><span>\u5728\u8fd9\u7bc7\u6587\u7ae0\u4e2d\uff0c\u6211\u4eec\u63a2\u8ba8\u4e86\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u901a\u8fc7\u6280\u672f\u521b\u65b0\u9010\u6b65\u6539\u53d8\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff08DEX\uff09\u4e0e\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff08CEX\uff09\u4e4b\u95f4\u7684\u7ade\u4e89\u683c\u5c40\u3002\u4ece\u00a0AMM\u00a0\u5230\u00a0vAMM\u3001Peer-to-Pool\uff0c\u518d\u5230\u00a0Order Book\u00a0\u7684\u6f14\u8fdb\uff0c\u8fd9\u4e9b\u673a\u5236\u5728\u89e3\u51b3\u6ed1\u70b9\u3001\u65e0\u5e38\u635f\u5931\u548c\u4ef7\u683c\u53d1\u73b0\u7b49\u6838\u5fc3\u95ee\u9898\u7684\u540c\u65f6\uff0c\u4e3a\u7528\u6237\u63d0\u4f9b\u4e86\u66f4\u4f18\u8d28\u7684\u4ea4\u6613\u4f53\u9a8c\u3002<\/span><\/p>\n<p>\u6211\u4eec\u7279\u522b\u5f3a\u8c03\uff0c\u6d41\u52a8\u6027\u6df1\u539a\u662f\u00a0CEX\u00a0\u80fd\u5426\u5728\u4e0e\u00a0DEX\u00a0\u7684\u7ade\u4e89\u4e2d\u53d6\u5f97\u6210\u529f\u7684\u4e3b\u8981\u56e0\u7d20\u3002\u800c$Trump\u00a0\u7684\u6210\u529f\u518d\u6b21\u8bc1\u660e\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u6b63\u5728\u65e5\u76ca\u5145\u76c8\uff0c\u5176\u80cc\u540e\u662f\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u7fa4\u4f53\u7684\u65e5\u76ca\u591a\u6837\u5316\u3002\u6211\u4eec\u5206\u6790\u4e86\u00a0LP Vault\u00a0\u6a21\u5757\u5316\u548c\u4e13\u4e1a\u5316\u7684\u53d1\u5c55\u8d8b\u52bf\uff0c\u8fd9\u79cd\u521b\u65b0\u6b63\u5728\u4e3a\u94fe\u4e0a\u957f\u5c3e\u8d44\u4ea7\u548c\u4e3b\u6d41\u8d44\u4ea7\u63d0\u4f9b\u66f4\u6df1\u5c42\u6b21\u7684\u6d41\u52a8\u6027\u652f\u6301\u3002\u901a\u8fc7\u5206\u6790\u6210\u529f\u6848\u4f8b\uff08\u5982\u00a0Hyperliquid\u00a0\u548c\u00a0Elixir\uff09\uff0c\u6211\u4eec\u5c55\u793a\u4e86\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u6210\u4e3a\u63a8\u52a8\u00a0DeFi\u00a0\u8fdb\u4e00\u6b65\u53d1\u5c55\u7684\u5173\u952e\u52a8\u529b\uff0c\u5e76\u6700\u7ec8\u53ef\u80fd\u98a0\u8986\u00a0CEX\u00a0\u5728\u4ea4\u6613\u5e02\u573a\u4e2d\u7684\u4e3b\u5bfc\u5730\u4f4d\u3002<\/p>\n<h2 class=\"customstyle_text\">\n<p class=\"img-desc customstyle_text\">\n<p class=\"img-desc customstyle_text\">Pump.fun token issuance statistics, source: Hashed<\/p>\n<p>\u4ee5\u00a0Pump.fun\u00a0\u4e3a\u4f8b\uff0c\u5176\u94fe\u4e0a\u4ee3\u5e01\u00a0Launchpad\u00a0\u7684\u65e5\u53d1\u884c\u6570\u91cf\u5c61\u521b\u65b0\u9ad8\u3002\u5982\u679c\u8bf4\u00a0Hyperliquid\u00a0\u901a\u8fc7\u94fe\u4e0a\u00a0Launch\u00a0\u5b9e\u73b0\u767e\u4ebf\u7f8e\u5143\u00a0FDV\u00a0\u662f\u4e00\u573a\u6210\u529f\u7684\u6f14\u7ec3\uff0c\u90a3\u4e48\u66f4\u5177\u6807\u5fd7\u6027\u7684\u4e8b\u4ef6\u662f\u00a0Trump\u00a0\u4ee3\u5e01\u5728\u94fe\u4e0a\u7684\u6210\u529f\u53d1\u884c\u3002Trump\u00a0\u4ee3\u5e01\u5728\u00a024\u00a0\u5c0f\u65f6\u5185\u5b9e\u73b0\u00a0700\u00a0\u4ebf\u7f8e\u5143\u00a0FDV\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u9ad8\u8fbe\u00a07\u00a0\u4ebf\u7f8e\u5143\uff0c\u800c\u8fd9\u4e00\u5207\u5747\u53d1\u751f\u5728\u94fe\u4e0a\u3002\u66f4\u4e3a\u91cd\u8981\u7684\u662f\uff0c\u5176\u4ee3\u5e01\u4ef7\u683c\u53d7\u5230\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u7684\u5f71\u54cd\u66f4\u5c0f\uff0c\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u65e0\u6cd5\u901a\u8fc7\u83b7\u53d6\u514d\u8d39\u4ee3\u5e01\u6765\u64cd\u7eb5\u4ef7\u683c\u3002<\/p>\n<p>\u5bf9\u6b64\uff0cBybit\u00a0\u7684\u521b\u59cb\u4eba\u8868\u793a\uff1a\u201cWeb3\u548c\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u7684\u672a\u6765\u5df2\u7ecf\u5230\u6765\u30022025\u00a0\u5e74\uff0c\u6211\u4eec\u5c06\u4e13\u6ce8\u4e8e\u6253\u9020\u94fe\u4e0a\u7248\u672c\u7684\u00a0Bybit\uff0c\u5e76\u52a0\u5927\u5bf9\u00a0Bybit Web3\u94b1\u5305\uff08\u81ea\u6258\u7ba1\uff09\u7528\u6237\u4f53\u9a8c\u7684\u6295\u5165\uff0c\u540c\u65f6\u5f3a\u5316\u6211\u4eec\u7684\u94fe\u4e0a\u57fa\u7840\u8bbe\u65bd\u3002\u201d<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=ODkyZmE5ZDM3YjEwNWI0OWIzNGEyNGE0MTA5OTg1MmFfYVZvdGJEaFA2dHB5MzFad3ltaHV5NUlPVkZNTGgyVTFfVG9rZW46Um5QcGJFWEs3b3pEWlp4ZjUzZGo3NHN6cEdoXzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/RnPpbEXK7ozDZZxf53dj74szpGh\/?mount_node_token=doxjpkyN53R1Te8I5d1HmRai8PE&amp;mount_point=docx_image\" data-width=\"468\" data-height=\"140\" data-lark-image- data-lark-image-width=\"468\"><\/p>\n<p class=\"img-desc customstyle_text\">On-chain Trading Bot statistics<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u94fe\u4e0a\u4ea4\u6613\u5de5\u5177\u4e5f\u5728\u84ec\u52c3\u53d1\u5c55\uff0c\u5982\u00a0DEXX\u3001GMGN\u3001Photon\u00a0\u548c\u00a0BullX\u00a0\u7b49\u57fa\u4e8e\u94fe\u4e0a\u7684\u8de8\u5e73\u53f0\u4ea4\u6613\u5de5\u5177\uff0c\u51ed\u501f\u4e00\u952e\u5f0f\u4ea4\u6613\u3001\u4e30\u5bcc\u7684\u94fe\u4e0a\u5206\u6790\u7b49\u529f\u80fd\uff0c\u5360\u9886\u4e86\u4ea4\u6613\u8d5b\u9053\u4e2d\u7684\u4e00\u5b9a\u5e02\u573a\u4efd\u989d\u3002\u5728$Trump\u00a0\u884c\u60c5\u4e2d\uff0c\u8fd9\u4e9b\u5de5\u5177\u627f\u63a5\u4e86\u90e8\u5206\u4ea4\u6613\u6d41\u91cf\uff0c\u4ea4\u6613\u91cf\u5747\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002\u6b64\u6b21\u884c\u60c5\u7684\u53d7\u76ca\u8005\u4e0d\u4ec5\u5305\u62ec\u00a0GMGN\uff0c\u5176\u5e02\u573a\u4efd\u989d\u5b9e\u73b0\u4e86\u5feb\u901f\u6269\u5927\uff0cMoonshot\u00a0\u66f4\u662f\u5728\u5f53\u5929\u767b\u9876\u7f8e\u56fd\u00a0App Store\u00a0\u4e0b\u8f7d\u699c\u7b2c\u4e00\uff0c\u4e3a\u5176\u5355\u65e5\u65b0\u589e\u7528\u6237\u5e26\u6765\u00a020\u00a0\u4e07\u4eba\u6b21\u3002<\/p>\n<p>\u4ece\u672c\u8d28\u4e0a\u770b\uff0c\u8fd9\u4e9b\u5de5\u5177\u662f\u524d\u7aef\u5e94\u7528\uff0c\u6784\u5efa\u4e86\u7528\u6237\u53cb\u597d\u7684\u6d41\u52a8\u6027\u805a\u5408\u754c\u9762\uff0c\u540c\u65f6\u8fd8\u63d0\u4f9b\u00a0Anti-MEV\u3001\u94fe\u4e0a\u5206\u6790\u7b49\u529f\u80fd\uff0c\u800c\u8fd9\u4e9b\u529f\u80fd\u5e76\u975e\u00a0CEX\u00a0\u7684\u91cd\u70b9\u53d1\u5c55\u65b9\u5411\u3002\u8fd9\u4e5f\u662f\u4e3a\u4ec0\u4e48\u00a0DEX\u00a0\u80fd\u591f\u622a\u83b7\u5927\u90e8\u5206\u6d41\u91cf\u7684\u5173\u952e\u6240\u5728\u3002\u7279\u522b\u662f\u5728\u94fe\u4e0a\u8d44\u4ea7\u53d1\u884c\u65e5\u76ca\u6d41\u884c\u7684\u65f6\u4ee3\uff0c\u8fd9\u4e9b\u5de5\u5177\u901a\u8fc7\u7b80\u5316\u94fe\u4e0a\u7e41\u7410\u7684\u4ea4\u6613\u6d41\u7a0b\uff0c\u89e3\u51b3\u4e86\u7528\u6237\u75db\u70b9\u3002\u8c01\u80fd\u591f\u638c\u63e1\u6d41\u91cf\u5165\u53e3\uff0c\u8c01\u5c31\u6709\u671b\u62a2\u5360\u6210\u4e3a\u4e0b\u4e00\u4ee3\u94fe\u4e0a\u201cBinance\u201d\u7684\u5148\u673a\u3002<\/p>\n<h2 class=\"customstyle_text\">LP Vault\u00a0\u673a\u5236\u662f\u00a0DEX\u00a0\u7684\u6d41\u52a8\u6027\u5173\u952e<\/h2>\n<p>\u8fd9\u4e9b\u524d\u7aef\u5de5\u5177\u7684\u80cc\u540e\u4f9d\u8d56\u4e8e\u5e9e\u5927\u7684\u6d41\u52a8\u6027\u4f9b\u7ed9\uff0c\u7279\u522b\u662f$Trump\u00a0\u7684\u6210\u529f\uff0c\u66f4\u8ba9\u6211\u4eec\u770b\u5230\u4e86\u6d41\u52a8\u6027\u5728\u94fe\u4e0a\u751f\u6001\u4e2d\u7684\u6838\u5fc3\u5730\u4f4d\u3002\u5982\u679c\u4f60\u6b63\u5728\u5f00\u53d1\u4e00\u4e2a\u94fe\u4e0a\u00a0DEX\uff0c\u901a\u5e38\u4f1a\u4f18\u5148\u6784\u5efa\u81ea\u5df1\u7684\u00a0LP\u00a0\u6c60\uff0c\u540c\u65f6\u94fe\u63a5\u94fe\u4e0a\u73b0\u6709\u7684\u6d41\u52a8\u6027\u8d44\u6e90\u3002\u53ef\u4ee5\u8bf4\uff0c\u6d41\u52a8\u6027\u7684\u6df1\u539a\u7a0b\u5ea6\u76f4\u63a5\u51b3\u5b9a\u4e86\u00a0DEX\u00a0\u5728\u4e0e\u00a0CEX\u00a0\u7ade\u4e89\u4e2d\u7684\u6210\u8d25\u3002\u5982\u679c\u6ca1\u6709\u8db3\u591f\u652f\u6491\u7684\u94fe\u4e0a\u6d41\u52a8\u6027\u73af\u5883\uff0c$Trump\u00a0\u7684\u6210\u529f\u4e5f\u65e0\u4ece\u8c08\u8d77\u3002\u800c\u00a0LP\u00a0\u6c60\u4f5c\u4e3a\u94fe\u4e0a\u4e3b\u8981\u7684\u6d41\u52a8\u6027\u89e3\u51b3\u65b9\u6848\uff0c\u4e5f\u7ecf\u5386\u4e86\u591a\u6b21\u6539\u8fdb\u4e0e\u521b\u65b0\u3002<\/p>\n<p>\u94fe\u4e0a\u7684\u6d41\u52a8\u6027\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u5f00\u542f\u00a0DeFi\u00a0\u5927\u822a\u6d77\u65f6\u4ee3\u7684\u00a0AMM\uff0c\u5230\u00a0vAMM\u3001P2P\u4ea4\u6613\u6a21\u5f0f\u3001\u94fe\u4e0a\u8ba2\u5355\u7c3f\uff08On-chain Order Book\uff09\uff0c\u518d\u5230\u94fe\u4e0b\u8ba2\u5355\u7c3f\uff08Off-chain Order Book\uff09\u7684\u4ea7\u54c1\u6f14\u8fdb\uff0c\u59cb\u7ec8\u56f4\u7ed5\u6d41\u52a8\u6027\u5c55\u5f00\u4f18\u5316\u3002\u8fd9\u4e9b\u65b9\u6848\u5728\u6d41\u52a8\u6027\u3001\u7528\u6237\u4f53\u9a8c\uff08\u4fbf\u5229\u6027\u4e0e\u5b89\u5168\u6027\uff09\u4ee5\u53ca\u6210\u672c\u4e4b\u95f4\u5bfb\u6c42\u6700\u4f73\u5e73\u8861\u70b9\u3002<\/p>\n<p>\u5728\u00a0AMM\u00a0\u65f6\u4ee3\uff0c\u8d44\u4ea7\u4ef7\u683c\u57fa\u4e8e\u516c\u5f0f x * y = k \u786e\u5b9a\u3002\u81ea\u00a0Uniswap V3\u5f15\u5165\u8303\u56f4\u96c6\u4e2d\u5f0f\u6d41\u52a8\u6027\u540e\uff0cLP\u00a0\u80fd\u591f\u7cbe\u7ec6\u5316\u63a7\u5236\u8d44\u91d1\u4f5c\u7528\u7684\u4ef7\u683c\u533a\u95f4\uff0c\u5927\u5e45\u63d0\u5347\u4e86\u8d44\u91d1\u6548\u7387\uff0c\u751a\u81f3\u8fbe\u5230\u5343\u500d\u7684\u5229\u7528\u7387\u3002\u7136\u800c\uff0c\u8fd9\u4e00\u6a21\u5f0f\u540c\u65f6\u4e5f\u5e26\u6765\u4e86\u65b0\u7684\u6311\u6218\uff0c\u4f8b\u5982\u4ef7\u683c\u6ed1\u70b9\u8f83\u5927\u3001\u65e0\u5e38\u635f\u5931\u8d85\u8fc7\u00a0LP\u00a0\u624b\u7eed\u8d39\u7b49\u95ee\u9898\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=ODUzNjM2MjhlYjUxYmRlMzUzMzNmYjkxMzZlMmVjOWZfQjhXbVNkZTYya3BnV0U4Z3g2WDVoMXJTMTdXQUFLeFpfVG9rZW46U0s0ZmJvV2dBb2FaTEd4cGh2cmpKTEh5cDlmXzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/SK4fboWgAoaZLGxphvrjJLHyp9f\/?mount_node_token=doxjpt4l8GDQj0QIWexbmzdJOtg&amp;mount_point=docx_image\" data-width=\"305\" data-height=\"154\" data-lark-image- data-lark-image-width=\"305\"><\/p>\n<p class=\"img-desc customstyle_text\">vAMM Mechanism<\/p>\n<p>2019\u00a0\u5e74\uff0cPerpetual Protocol\u00a0\u63d0\u51fa\u4e86\u4e00\u79cd\u5168\u65b0\u7684\u6d41\u52a8\u6027\u89e3\u51b3\u65b9\u6848\u2014\u2014vAMM\uff08\u865a\u62df\u81ea\u52a8\u5316\u505a\u5e02\u5546\uff09\u3002\u8be5\u65b9\u6848\u901a\u8fc7\u4f7f\u7528\u865a\u62df\u8d44\u91d1\u6c60\u6a21\u62df\u5e02\u573a\u6df1\u5ea6\uff0c\u7528\u6237\u5c06\u00a0USDT\u00a0\u7b49\u7a33\u5b9a\u5e01\u8d44\u4ea7\u5b58\u5165\u00a0Vault\u00a0\u6c60\u4e2d\uff0cAMM\u00a0\u5219\u5229\u7528\u865a\u62df\u8d44\u4ea7\u5e76\u57fa\u4e8e\u7ecf\u5178\u7684 x * y = k \u4ef7\u683c\u66f2\u7ebf\u8fd0\u884c\u3002\u5728\u8fd9\u79cd\u673a\u5236\u4e0b\uff0c\u4e00\u4e2a\u7528\u6237\u7684\u76c8\u5229\u5bf9\u5e94\u53e6\u4e00\u4e2a\u7528\u6237\u7684\u4e8f\u635f\uff0c\u6210\u529f\u89e3\u51b3\u4e86\u4f20\u7edf\u00a0AMM\u00a0\u4e2d\u65e0\u5e38\u635f\u5931\u7684\u673a\u5236\u7f3a\u9677\u3002<\/p>\n<p>\u7136\u800c\uff0c\u7531\u4e8e\u00a0vAMM\u00a0\u4e0d\u6d89\u53ca\u771f\u5b9e\u8d44\u4ea7\u4ea4\u6613\uff0c\u5176\u4ef7\u683c\u4e3b\u8981\u4f9d\u8d56\u4e8e\u9884\u8a00\u673a\u7684\u66f4\u65b0\uff0c\u7f3a\u4e4f\u771f\u5b9e\u8d44\u4ea7\u7684\u5b9a\u4ef7\u80fd\u529b\u3002\u8fd9\u79cd\u7279\u6027\u4f7f\u5176\u53ea\u80fd\u8ddf\u968f\u5e02\u573a\u4ef7\u683c\uff0c\u800c\u65e0\u6cd5\u81ea\u4e3b\u5f62\u6210\u4ef7\u683c\uff0c\u56e0\u6b64\u6210\u4e3a\u9650\u5236\u5176\u89c4\u6a21\u6269\u5927\u7684\u91cd\u8981\u56e0\u7d20\u4e4b\u4e00\u3002\u4ece\u4e13\u4e1a\u505a\u5e02\u5546\u7684\u89d2\u5ea6\u6765\u770b\uff0c\u5b9a\u4ef7\u6743\u662f\u8861\u91cf\u4e00\u4e2a\u673a\u5236\u80fd\u5426\u6210\u529f\u63a8\u5e7f\u7684\u5173\u952e\u8981\u7d20\u4e4b\u4e00\uff0c\u800c\u00a0vAMM\u00a0\u5728\u8fd9\u4e00\u65b9\u9762\u7684\u4e0d\u8db3\u4e5f\u6210\u4e3a\u5176\u53d1\u5c55\u7684\u74f6\u9888\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=YTg1ZWZiMjFhOWVkZmY4M2I0ODdlYzgyZDU5NzMxYmNfYU5ERTViUTNLYWpKREs3a2gyMVBjQkNPdTZpQ3pGdGVfVG9rZW46RDRhbmI2QXA5b2FwRkJ4b3JGYWo0bnlEcHdiXzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/D4anb6Ap9oapFBxorFaj4nyDpwb\/?mount_node_token=doxjpKOrJUM3cMD0BQto4EldQeb&amp;mount_point=docx_image\" data-width=\"296\" data-height=\"144\" data-lark-image- data-lark-image-width=\"296\"><\/p>\n<p class=\"img-desc customstyle_text\">GMX LP Vault Profits<\/p>\n<p>vAMM\u00a0\u7684\u8bbe\u8ba1\u6709\u4e9b\u7c7b\u4f3c\u4e8eP2P\u6a21\u5f0f\uff0c\u968f\u540e\u00a0GMX\u00a0\u521b\u65b0\u6027\u5730\u63d0\u51fa\u4e86\u00a0Peer-to-Pool\u00a0\u6d41\u52a8\u6027\u673a\u5236\uff0c\u5c06\u4ea4\u6613\u98ce\u9669\u8f6c\u5ac1\u7ed9\u6574\u4f53\u00a0LP\u00a0\u6301\u6709\u4eba\u3002\u5728\u8fd9\u79cd\u6a21\u5f0f\u4e0b\uff0c\u7531\u4e8e\u6574\u4f53\u4ea4\u6613\u8005\uff08Trader\uff09\u666e\u904d\u4e8f\u635f\u5927\u4e8e\u6536\u76ca\uff0cGMX\u00a0\u7684\u00a0LP Vault\u00a0\u4f5c\u4e3a\u6240\u6709\u4ea4\u6613\u8005\u7684\u5bf9\u624b\u65b9\uff0c\u4f9d\u7136\u80fd\u591f\u5b9e\u73b0\u4e00\u5b9a\u7684\u6536\u76ca\u3002\u7136\u800c\uff0c\u5c3d\u7ba1\u8be5\u673a\u5236\u5728\u7406\u8bba\u4e0a\u5177\u5907\u65e0\u9650\u6d41\u52a8\u6027\u548c\u96f6\u6ed1\u70b9\u4ea4\u6613\u7684\u4f18\u52bf\uff0c\u5176\u6700\u5927\u7684\u95ee\u9898\u4e0e\u00a0vAMM\u00a0\u7c7b\u4f3c\uff0c\u5373\u65e0\u6cd5\u72ec\u7acb\u53d1\u73b0\u4ef7\u683c\u3002\u8fd9\u4e00\u7f3a\u9677\u6210\u4e3a\u5176\u6210\u957f\u7684\u5929\u82b1\u677f\uff0c\u9650\u5236\u4e86\u8fdb\u4e00\u6b65\u7684\u53d1\u5c55\u7a7a\u95f4\u3002<\/p>\n<p>\u7efc\u4e0a\uff0c\u4ee5\u4e0a\u4e09\u79cd\u6a21\u5f0f\uff08AMMs\u3001vAMM\u3001P2P\uff09\u5747\u4ee5\u00a0Vault\u00a0\u6c60\u7684\u5f62\u5f0f\u8fd0\u4f5c\u3002AMMs\u00a0\u5177\u6709\u72ec\u7acb\u53d1\u73b0\u4ef7\u683c\u7684\u80fd\u529b\uff0c\u800c\u00a0vAMM\u00a0\u548cP2P\u867d\u7136\u89e3\u51b3\u4e86\u6ed1\u70b9\u548c\u65e0\u5e38\u635f\u5931\u7684\u95ee\u9898\uff0c\u4f46\u4ec5\u80fd\u8ddf\u8e2a\u4ef7\u683c\u6307\u6570\uff0c\u65e0\u6cd5\u81ea\u4e3b\u5b9a\u4ef7\uff0c\u8fd9\u663e\u8457\u9650\u5236\u4e86\u5b83\u4eec\u7684\u6269\u5c55\u6027\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u8ba2\u5355\u7c3f\u6a21\u578b\u5206\u4e3a\u94fe\u4e0a\u548c\u94fe\u4e0b\u4e24\u79cd\uff0c\u5176\u4e3b\u8981\u6743\u8861\u70b9\u5728\u4e8e\u4e2d\u5fc3\u5316\u98ce\u9669\u4e0e\u6548\u7387\u3002\u4ee5\u5168\u94fe\u4e0a\u534f\u8bae\u00a0Injective\u00a0\u4e3a\u4f8b\uff0c\u5176\u901a\u8fc7\u534f\u8c03\u591a\u4e2a\u534f\u8bae\u7684\u00a0LP\u00a0\u63d0\u4f9b\u6700\u4f73\u7684\u00a0Swap\u00a0\u4ea4\u6613\u4f53\u9a8c\u3002\u800c\u00a0Hyperliquid\u00a0\u91c7\u7528\u94fe\u4e0b\u505a\u5e02\u5546\u7684\u65b9\u5f0f\u4e3a\u8ba2\u5355\u7c3f\u63d0\u4f9b\u6d41\u52a8\u6027\uff0c\u7c7b\u4f3c\u4e8e\u4f20\u7edf\u00a0CEX\u00a0\u7684\u505a\u5e02\u6a21\u5f0f\u3002\u94fe\u4e0b\u505a\u5e02\u65b9\u5f0f\u5728\u63d0\u4f9b\u9ad8\u6548\u6d41\u52a8\u6027\u7684\u540c\u65f6\uff0c\u4e5f\u7ee7\u627f\u4e86\u90e8\u5206\u4e2d\u5fc3\u5316\u7684\u7279\u6027\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250209\/ee64ca5690ec7388addb671bc560986b.jpg\"><\/p>\n<h2 class=\"customstyle_text\">LP Vault\u00a0\u7684\u591a\u6837\u5316\u548c\u4e13\u4e1a\u5316\u8d8b\u52bf<\/h2>\n<p>\u6d41\u52a8\u6027\u662f\u51b3\u5b9a\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff08DEX\uff09\u80fd\u5426\u6210\u529f\u4e0e\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff08CEX\uff09\u7ade\u4e89\u7684\u5173\u952e\u56e0\u7d20\u4e4b\u4e00\u3002\u4ece\u00a0AMM\u00a0\u5230\u94fe\u4e0b\u8ba2\u5355\u7c3f\uff0c\u4e0d\u540c\u673a\u5236\u5728\u6d41\u52a8\u6027\u4f9b\u7ed9\u65b9\u9762\u90fd\u8fdb\u884c\u4e86\u72ec\u7279\u7684\u521b\u65b0\u3002\u4f8b\u5982\uff0cAMM\u00a0\u901a\u8fc7\u4ee3\u5e01\u5bf9\u6c60\u63d0\u4f9b\u6d41\u52a8\u6027\uff0cvAMM\u00a0\u5f15\u5165\u5355\u4e00\u8d44\u4ea7\uff08\u5982\u00a0USDC\uff09\u6c60\uff0cPeer-to-Pool\u00a0\u673a\u5236\u4e2d\u7684\u00a0LP Vault\u00a0\u5219\u5145\u5f53\u6240\u6709\u4ea4\u6613\u8005\u7684\u5bf9\u624b\u65b9\uff1b\u94fe\u4e0a\u8ba2\u5355\u7c3f\u91c7\u7528\u8de8\u4ee3\u5e01\u5bf9\u6d41\u52a8\u6027\u805a\u5408\uff0c\u800c\u94fe\u4e0b\u8ba2\u5355\u7c3f\u7684\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u5219\u6f14\u53d8\u4e3a\u9ad8\u9891\u91cf\u5316\u505a\u5e02\u5546\u3002<\/p>\n<p>\u4e0d\u4ec5\u00a0LP\u00a0\u6c60\u7684\u5f62\u5f0f\u5728\u4e0d\u65ad\u6f14\u5316\u548c\u521b\u65b0\uff0c\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u7684\u6784\u6210\u4e5f\u5728\u6084\u7136\u53d1\u751f\u53d8\u5316\u3002\u6839\u636e\u56fd\u9645\u6e05\u7b97\u94f6\u884c\uff08BIS\uff09\u7684\u7814\u7a76\uff0c\u5c3d\u7ba1\u00a0LP\u00a0\u673a\u5236\u4ee5\u6c11\u4e3b\u5316\u7684\u65b9\u5f0f\u8fd0\u884c\uff0c\u4f46\u968f\u7740\u591a\u79cd\u00a0LP\u00a0\u5f62\u5f0f\u7684\u51fa\u73b0\uff08\u5982\u53ef\u8c03\u8282\u533a\u95f4\u7684\u00a0AMM\u00a0\u4ee5\u53ca\u6ee1\u8db3\u7279\u5b9a\u529f\u80fd\u7684\u00a0LP Vault\uff09\uff0c\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u6b63\u5728\u5411\u4e13\u4e1a\u5316\u65b9\u5411\u53d1\u5c55\u3002\u6570\u636e\u663e\u793a\uff0c\u5927\u90e8\u5206\u6d41\u52a8\u6027\u7531\u5c11\u6570\u5177\u5907\u4e13\u4e1a\u6280\u80fd\u548c\u8d44\u672c\u4f18\u52bf\u7684\u201c\u6210\u719f\u201dLP\u00a0\u63d0\u4f9b\uff0c\u5176\u5e02\u573a\u4efd\u989d\u5df2\u5360\u5230\u00a065%\u00a0-85%\u00a0\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u96f6\u552e\u00a0LP\u00a0\u7684\u53c2\u4e0e\u6bd4\u4f8b\u8f83\u4f4e\uff0c\u4e14\u5176\u6536\u76ca\u7387\u663e\u8457\u4f4e\u4e8e\u6210\u719f\u00a0LP\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=MzZmZjRlMzgxOTc5YmU3MjFhYjVlMjdkODdmZWYyNjVfY0dmUW1PVThHZGNRWnpzZ0ZJUGRrMUt3bTdUYXJGV29fVG9rZW46SEcyemJ1cVlMb0lWWDJ4T0tvTmo2RlhZcFM4XzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/HG2zbuqYLoIVX2xOKoNj6FXYpS8\/?mount_node_token=doxjpa21FC5oy26NDhGYA6vuOcb&amp;mount_point=docx_image\" data-width=\"364\" data-height=\"228\" data-lark-image- data-lark-image-width=\"364\" data-lark-image-height=\"228\"><\/p>\n<p class=\"img-desc customstyle_text\">LP Vault in Hyperliquid, souce: Hyperliquid<\/p>\n<p>\u5982\u4e0a\u56fe\u6240\u793a\uff0c\u5b98\u65b9\u00a0LP Vault\u00a0\u7684\u5e73\u5747\u5e74\u5316\u56de\u62a5\u7387\u4e3a 25.81%\u00a0\uff0c\u4f46\u4e13\u4e1a\u7684\u00a0HF Vault\uff08\u9ad8\u9891\u4ea4\u6613\u00a0Vault\uff09\u5e74\u5316\u56de\u62a5\u7387\u5177\u6709\u66f4\u5927\u7684\u6f5c\u529b\u548c\u5e7f\u9614\u7684\u53d1\u5c55\u7a7a\u95f4\u3002\u76ee\u524d\uff0c\u94fe\u4e0a\u7684\u6d41\u52a8\u6027\u521b\u65b0\u6b63\u56f4\u7ed5\u00a0DEX\u00a0\u8fd9\u4e00\u5173\u952e\u8981\u7d20\u5c55\u5f00\u5927\u5e45\u8dc3\u8fdb\u3002<\/p>\n<p>\u9664\u4e86\u00a0Hyperliquid\u00a0\u5c06\u94fe\u4e0b\u505a\u5e02\u5546\uff08MM\uff09\u5f15\u5165\u94fe\u4e0a\uff0c\u901a\u8fc7\u7ed3\u5408\u9ad8\u541e\u5410\u91cf\u7684L1\u516c\u94fe\uff0c\u6307\u6570\u7ea7\u63d0\u5347\u7528\u6237\u4ea4\u6613\u4f53\u9a8c\u5916\uff0c\u8fd8\u6709\u8bb8\u591a\u57fa\u4e8e\u00a0LP\u00a0\u673a\u5236\u7684\u521b\u65b0\u6b63\u5728\u4e0d\u65ad\u53d1\u9175\u3002\u8fd9\u4e9b\u521b\u65b0\u4e0d\u4ec5\u6539\u5584\u4e86\u6d41\u52a8\u6027\u7684\u6df1\u5ea6\u4e0e\u6548\u7387\uff0c\u8fd8\u4e3a\u7528\u6237\u5e26\u6765\u4e86\u66f4\u4e30\u5bcc\u7684\u529f\u80fd\u548c\u66f4\u4f18\u8d28\u7684\u4f53\u9a8c\uff0c\u8fdb\u4e00\u6b65\u63a8\u52a8\u4e86\u00a0DEX\u00a0\u751f\u6001\u7684\u53d1\u5c55\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=YmZkY2VjNzQyZTBhNjgzMDhmOGJlYmNmMDQ1ODdjYzFfeFpqSGFmN1hLSXFUczBPSnBQNVBxMFVHNzliVzREMXNfVG9rZW46QkxCY2JCWTUwb3F2VjJ4Q2N0b2pMY3ZtcHFoXzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/BLBcbBY50oqvV2xCctojLcvmpqh\/?mount_node_token=doxjpX2cbmYn3JHZHcCwbNsHQ0b&amp;mount_point=docx_image\" data-width=\"468\" data-height=\"331\" data-lark-image- data-lark-image-width=\"468\"><\/p>\n<p class=\"img-desc customstyle_text\">Elixir Workflow, source: Elixir<\/p>\n<p>\u6211\u4eec\u6ce8\u610f\u5230\uff0cElixir\u00a0\u6b63\u5728\u901a\u8fc7\u6a21\u5757\u5316\u7684\u00a0LP\u00a0\u673a\u5236\u5f15\u9886\u521b\u65b0\u3002Elixir\u00a0\u91c7\u7528\u4e86\u00a0Avellaneda-Stoikov\u00a0\u7b97\u6cd5\u7684\u81ea\u5b9a\u4e49\u53d8\u4f53\uff0c\u5728\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u8ba2\u5355\u7c3f\u4e2d\u90e8\u7f72\u6d41\u52a8\u6027\u3002\u901a\u8fc7\u8fd9\u4e9b\u4e2d\u6027\u7684\u7b56\u7565\uff0cElixir\u00a0\u80fd\u591f\u4e3a\u5168\u94fe\u4e0a\u7684\u957f\u5c3e\u8d44\u4ea7\u63d0\u4f9b\u6d41\u52a8\u6027\u3002\u7528\u6237\u53ef\u4ee5\u5229\u7528\u8fd9\u4e00\u7b97\u6cd5\u5e73\u53f0\uff0c\u6210\u4e3a\u66f4\u4e13\u4e1a\u7684\u00a0LP\uff0c\u800c\u65e0\u9700\u5c06\u00a0LP\u00a0\u5c40\u9650\u4e8e\u5355\u4e00\u00a0DEX\u3002\u76ee\u524d\uff0cInjective\u3001dYdX\u3001Bluefin\u00a0\u7b49\u9879\u76ee\u90fd\u5df2\u88ab\u7eb3\u5165\u5176\u6574\u5408\u7684\u751f\u6001\u7cfb\u7edf\u3002<\/p>\n<p>\u5728\u00a0Elixir\u00a0\u7684\u94fe\u4e0b\u7ec4\u4ef6\u4e2d\uff0c\u7cfb\u7edf\u9996\u5148\u83b7\u53d6\u4ea4\u6613\u6240\u7684\u8ba2\u5355\u6570\u636e\uff0c\u6570\u636e\u805a\u5408\u5668\u9a8c\u8bc1\u6570\u636e\u7684\u6709\u6548\u6027\u540e\u5c06\u5176\u53d1\u9001\u81f3\u9a8c\u8bc1\u8282\u70b9\u3002\u9a8c\u8bc1\u8282\u70b9\u8fd0\u884c\u7b97\u6cd5\u4ee5\u751f\u6210\u8ba2\u5355\uff0c\u800c\u94fe\u4e0a\u7684\u5ba1\u8ba1\u8282\u70b9\uff08on-chain audit validator\uff09\u8d1f\u8d23\u5bf9\u8ba2\u5355\u7b7e\u540d\u8fdb\u884c\u5ba1\u8ba1\u3002\u968f\u540e\uff0c\u8fd9\u4e9b\u8ba2\u5355\u88ab\u53d1\u9001\u5230\u76f8\u5e94\u7684\u4ea4\u6613\u6240\u6267\u884c\u3002<\/p>\n<p>\u4e0e\u00a0Hyperliquid\u00a0\u76f8\u6bd4\uff0cElixir\u00a0\u7531\u4e8e\u94fe\u4e0a\u5ba1\u8ba1\u8282\u70b9\u7684\u5b58\u5728\uff0c\u63d0\u4f9b\u4e86\u4e00\u4e2a\u66f4\u900f\u660e\u7684\u505a\u5e02\u6a21\u578b\uff08MM\uff09\u3002\u7136\u800c\uff0c\u8fd9\u79cd\u900f\u660e\u6027\u5e26\u6765\u7684\u6548\u7387\u635f\u8017\u4e5f\u662f\u5176\u6311\u6218\u4e4b\u4e00\u3002\u76f8\u5bf9\u800c\u8a00\uff0cHyperliquid\u00a0\u7684\u00a0LP Vault\u00a0\u867d\u7136\u9ad8\u6548\uff0c\u4f46\u7f3a\u4e4f\u53ef\u6269\u5c55\u6027\uff0c\u800c\u00a0Elixir\u00a0\u7684\u6a21\u5757\u5316\u00a0LP\u00a0\u80fd\u591f\u4e3a\u6240\u6709\u8ba2\u5355\u7c3f\u63d0\u4f9b\u6d41\u52a8\u6027\uff0c\u5c55\u73b0\u4e86\u66f4\u5f3a\u7684\u9002\u914d\u80fd\u529b\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Gate Ventures \u7814\u7a76\u6d1e\u5bdf\uff1a\u957f\u5c3e\u8d44\u4ea7\u7684\u5d1b\u8d77\uff0c\u94fe\u4e0a\u6d41\u52a8\u6027\u5982\u4f55\u98a0\u8986 CEX\" src=\"https:\/\/gtglobal.jp.larksuite.com\/space\/api\/box\/stream\/download\/asynccode\/?code=OTRhMWY2ODY0YmRmNmZkNWIyMTg0MWEzMDRhZjlhYzVfcDI1N0pvVm15Nk1VN1BsN0JrbE1yeldrVEVRWmkwMUNfVG9rZW46Rmd3N2JReFJ6b0xPR2V4TEVpaGo4T2k5cHJmXzE3MzkwMDMyMzQ6MTczOTAwNjgzNF9WNA\" data-single- data-src=\"https:\/\/internal-api-drive-stream-jp.larksuite.com\/space\/api\/box\/stream\/download\/all\/Fgw7bQxRzoLOGexLEihj8Oi9prf\/?mount_node_token=doxjp5sK624TYKvVncgwO0q1j9s&amp;mount_point=docx_image\" data-width=\"380\" data-height=\"228\" data-lark-image- data-lark-image-width=\"380\"><\/p>\n<p class=\"img-desc customstyle_text\">Spicenet Structure, source: Spicenet docs<\/p>\n<p>Elixir\u00a0\u662f\u4e00\u4e2a\u9887\u5177\u521b\u65b0\u6027\u7684\u9879\u76ee\uff0c\u81ea\u00a02021\u00a0\u5e74\u8d77\u4fbf\u5f00\u59cb\u6784\u5efa\uff0c\u81f4\u529b\u4e8e\u4e3a\u94fe\u4e0a\u8ba2\u5355\u7c3f\u63d0\u4f9b\u4e00\u79cd\u65b0\u9896\u4e14\u5177\u6cdb\u5316\u80fd\u529b\u7684\u89e3\u51b3\u65b9\u6848\u3002\u76ee\u524d\uff0c\u8bb8\u591a\u9879\u76ee\u5728\u6d41\u52a8\u6027\u67b6\u6784\u4e0a\u5b9e\u73b0\u4e86\u539f\u5b50\u7ea7\u522b\u7684\u521b\u65b0\u3002\u4f8b\u5982\uff0cSpicenet\u00a0\u548c\u00a0Liquorice\u00a0\u7684\u6d41\u52a8\u6027\u7f51\u7edc\u6574\u5408\u4e86\u00a0Solver\u3001\u505a\u5e02\u5546\uff08MM\uff09\u4ee5\u53ca\u81ea\u7531\u6d41\u52a8\u6027\u6c60\uff08NOL\uff09\uff0c\u4e3a\u8ba2\u5355\u7c3f\u63d0\u4f9b\u4e86\u4f4e\u6ed1\u70b9\u7684\u5168\u5c40\u6d41\u52a8\u6027\u652f\u6301\u3002<\/p>\n<p>\u5176\u4e2d\uff0cNOL\uff08\u81ea\u7531\u6d41\u52a8\u6027\u6c60\uff09\u672c\u8d28\u4e0a\u662f\u7528\u6237\u7684\u00a0LP Vault\u3002\u7528\u6237\u548c\u00a0LP\u00a0\u53ef\u4ee5\u6839\u636e\u81ea\u8eab\u7684\u98ce\u9669\u504f\u597d\u548c\u6536\u76ca\u76ee\u6807\uff0c\u5c06\u8d44\u91d1\u5b58\u5165\u4e0d\u540c\u7684\u7b56\u7565\u5e93\uff08Vault\uff09\u3002\u8fd9\u4e9b\u7b56\u7565\u5e93\u4e13\u6ce8\u4e8e\u5404\u81ea\u7684\u72ec\u7279\u9886\u57df\uff0c\u4f8b\u5982\u73b0\u8d27\u4ea4\u6613\u3001\u671f\u8d27\u4ea4\u6613\u6216\u8de8\u8d26\u7c3f\u6d41\u52a8\u6027\u7b49\u3002\u901a\u8fc7\u8fd9\u79cd\u65b9\u5f0f\uff0c\u5b83\u4eec\u80fd\u591f\u5728\u505a\u5e02\u5546\u52a8\u529b\u4e0d\u8db3\u65f6\uff0c\u7f13\u89e3\u00a0LVR\uff08\u6d41\u52a8\u6027\u6ce2\u52a8\u98ce\u9669\uff09\u95ee\u9898\uff0c\u4ece\u800c\u4fdd\u969c\u6d41\u52a8\u6027\u7684\u7a33\u5b9a\u6027\u548c\u6548\u7387\u3002<\/p>\n<h2 class=\"customstyle_text\">\u6d41\u52a8\u6027\u7684\u53d1\u5c55\u8d8b\u52bf<\/h2>\n<p>LP Vault\u00a0\u662f\u94fe\u4e0a\u6d41\u52a8\u6027\u4e2d\u6700\u57fa\u7840\u3001\u6700\u539f\u5b50\u5316\u7684\u7ec4\u4ef6\u4e4b\u4e00\uff0c\u76ee\u524d\u6b63\u5728\u7ecf\u5386\u6a21\u5757\u5316\u521b\u65b0\u7684\u53d8\u9769\u3002LP Vault\u00a0\u901a\u8fc7\u6574\u5408\u591a\u4e2a\u524d\u7aef\u00a0DEX\uff0c\u6784\u5efa\u51fa\u66f4\u52a0\u987a\u6ed1\u3001\u4f4e\u6ed1\u70b9\u7684\u4ea4\u6613\u4f53\u9a8c\u3002\u4f20\u7edf\u7684\u00a0AMM\u00a0\u6a21\u5f0f\u867d\u4ee5\u5176\u7b80\u5355\u6027\u548c\u6613\u4e8e\u51b7\u542f\u52a8\u7684\u7279\u6027\uff0c\u5c24\u5176\u5bf9\u00a0Meme\u00a0\u7b49\u957f\u5c3e\u8d44\u4ea7\u7684\u521d\u59cb\u6d41\u52a8\u6027\u4f9b\u7ed9\u8868\u73b0\u826f\u597d\uff0c\u4f46\u5df2\u96be\u4ee5\u6ee1\u8db3\u5f53\u4e0b\u00a0DeFi\u00a0\u65f6\u4ee3\u5bf9\u4e3b\u6d41\u8d44\u4ea7\u6d41\u52a8\u6027\u7684\u9ad8\u6807\u51c6\u9700\u6c42\u3002\u5728\u00a0CEX\u00a0\u9010\u6b65\u5411\u00a0DEX\u00a0\u8fc1\u79fb\u7684\u8fc7\u7a0b\u4e2d\uff0c\u7528\u6237\u5bf9\u4e3b\u6d41\u8d44\u4ea7\u4ea4\u6613\u6ed1\u70b9\u7684\u654f\u611f\u6027\u548c\u9ad8\u8981\u6c42\u8fdb\u4e00\u6b65\u51f8\u663e\u3002\u800c\u00a0LP Vault\u00a0\u7684\u521b\u65b0\u6210\u4e3a\u89e3\u51b3\u8fd9\u4e00\u75db\u70b9\u7684\u5173\u952e\uff0c\u6d41\u52a8\u6027\u7684\u6df1\u539a\u7a0b\u5ea6\u76f4\u63a5\u51b3\u5b9a\u4e86\u00a0CEX\u00a0\u4e0e\u00a0DEX\u00a0\u7ade\u4e89\u7684\u80dc\u8d1f\u3002<\/p>\n<p>\u5f53\u524d\u94fe\u4e0a\u6d41\u52a8\u6027\u7684\u8d8b\u52bf\u8868\u73b0\u4e3a\uff0c\u957f\u5c3e\u8d44\u4ea7\u901a\u5e38\u4f9d\u9760\u00a0AMM LP\u00a0\u63d0\u4f9b\u521d\u59cb\u6d41\u52a8\u6027\uff0c\u800c\u968f\u7740\u8d44\u4ea7\u5e02\u503c\u7684\u589e\u957f\uff0c\u8fd9\u4e9b\u8d44\u4ea7\u9010\u6b65\u8f6c\u5411\u00a0Order Book\u00a0\u5f62\u5f0f\u8fdb\u884c\u4ea4\u6613\u3002\u5bf9\u4e8e\u94fe\u4e0a\u7684\u00a0Order Book DEX\u00a0\u800c\u8a00\uff0c\u6d41\u52a8\u6027\u7ec4\u5408\u65e5\u8d8b\u591a\u6837\u5316\uff0c\u9664\u4e86\u00a0AMM LP\uff0c\u8fd8\u5305\u62ec\u00a0LP Vault\u00a0\u6784\u5efa\u7684\u94fe\u4e0b\u7b97\u6cd5\u505a\u5e02\u5546\uff08\u5982\u00a0Hyperliquid\uff09\u6216\u521b\u65b0\u7684\u94fe\u4e0a\u505a\u5e02\u5546\uff08\u5982\u00a0Elixir\uff09\u3002\u6b64\u5916\uff0c\u8fd9\u4e9b\u00a0DEX\u00a0\u901a\u8fc7\u5f00\u653e\u00a0API\u00a0\u5f15\u5165\u7b2c\u4e09\u65b9\u7684\u4f20\u7edf\u505a\u5e02\u5546\uff0c\u8fdb\u4e00\u6b65\u63d0\u5347\u6d41\u52a8\u6027\u6548\u7387\u3002<\/p>\n<p>LP Vault\u00a0\u6b63\u671d\u7740\u4e13\u4e1a\u5316\u548c\u6a21\u5757\u5316\u7684\u65b9\u5411\u53d1\u5c55\u3002\u8fd9\u4e9b\u4e13\u4e1a\u5316\u00a0LP Vault\u00a0\u4e0d\u4ec5\u663e\u8457\u63d0\u5347\u4e86\u94fe\u4e0a\u6d41\u52a8\u6027\u7684\u6df1\u5ea6\uff0c\u8fd8\u5360\u636e\u4e86\u94fe\u4e0a\u6d41\u52a8\u6027\u7684\u5927\u90e8\u5206\u4efd\u989d\u3002LP Vault\u00a0\u7684\u521b\u65b0\u4e3a\u7528\u6237\u5e26\u6765\u4e86\u66f4\u4f18\u8d28\u7684\u4ea4\u6613\u4f53\u9a8c\uff0c\u540c\u65f6\u4e5f\u4e3a\u00a0DEX\u00a0\u7684\u6301\u7eed\u53d1\u5c55\u63d0\u4f9b\u4e86\u91cd\u8981\u7684\u652f\u6491\u3002\u8fd9\u4e9b\u8fdb\u6b65\u6b63\u5728\u5171\u540c\u63a8\u52a8\u94fe\u4e0a\u751f\u6001\u7684\u7e41\u8363\uff0c\u8fdb\u4e00\u6b65\u7f29\u5c0f\u00a0DEX\u00a0\u4e0e\u00a0CEX\u00a0\u4e4b\u95f4\u7684\u5dee\u8ddd\u3002<\/p>\n<p>\u514d\u8d23\u58f0\u660e\uff1a<\/p>\n<p>\u672c\u5185\u5bb9\u4e0d\u6784\u6210\u4efb\u4f55\u8981\u7ea6\u3001\u62db\u63fd\u3001\u6216\u5efa\u8bae\u3002\u60a8\u5728\u505a\u51fa\u4efb\u4f55\u6295\u8d44\u51b3\u5b9a\u4e4b\u524d\u5e94\u59cb\u7ec8\u5bfb\u6c42\u72ec\u7acb\u7684\u4e13\u4e1a\u5efa\u8bae\u3002\u8bf7\u6ce8\u610f\uff0cGate.io \u53ca\/\u6216 Gate Ventures\u00a0\u53ef\u80fd\u4f1a\u9650\u5236\u6216\u7981\u6b62\u6765\u81ea\u53d7\u9650\u5236\u5730\u533a\u7684\u6240\u6709\u6216\u90e8\u5206\u670d\u52a1\u3002\u8bf7\u9605\u8bfb\u5176\u9002\u7528\u7684\u7528\u6237\u534f\u8bae\u4e86\u89e3\u66f4\u591a\u4fe1\u606f\u3002<\/p>\n<h2>\u5173\u4e8e Gate Ventures<\/h2>\n<p>Gate Ventures \u662f Gate.io \u65d7\u4e0b\u7684\u98ce\u9669\u6295\u8d44\u90e8\u95e8\uff0c\u4e13\u6ce8\u4e8e\u5bf9\u53bb\u4e2d\u5fc3\u5316\u57fa\u7840\u8bbe\u65bd\u3001\u751f\u6001\u7cfb\u7edf\u548c\u5e94\u7528\u7a0b\u5e8f\u7684\u6295\u8d44\uff0c\u8fd9\u4e9b\u6280\u672f\u5c06\u5728 Web 3.0 \u65f6\u4ee3\u91cd\u5851\u4e16\u754c\u3002Gate Ventures 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