{"id":8298,"date":"2021-11-24T23:43:00","date_gmt":"2021-11-24T20:43:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=8298"},"modified":"2024-02-19T21:51:04","modified_gmt":"2024-02-19T18:51:04","slug":"co-treba-vediet-pred-zacatim-tazby-likvidity","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/sk\/2021\/11\/24\/co-treba-vediet-pred-zacatim-tazby-likvidity\/","title":{"rendered":"\u010co potrebujete vedie\u0165 pred za\u010dat\u00edm \u0165a\u017eby likvidity"},"content":{"rendered":"

Trhov\u00e1 hodnota DeFi (decentralizovan\u00e9 financie) sa pod\u013ea Defi Pulse zv\u00fd\u0161ila z $26 mili\u00e1rd uzamknut\u00fdch na za\u010diatku roka na $113 mili\u00e1rd v novembri. T\u00e1to popularita je \u010diasto\u010dne sp\u00f4soben\u00e1 ve\u013ek\u00fdm po\u010dtom investorov, ktor\u00ed sa zauj\u00edmaj\u00fa o produkty DeFi, ktor\u00e9 pon\u00fakaj\u00fa relat\u00edvne vysok\u00e9 v\u00fdnosy. Medzi ne patr\u00ed aj \u0165a\u017eba likvidity.<\/p>\n\n\n\n

S\u013eubovan\u00e9 v\u00fdnosy pre poskytovate\u013eov likvidity (LP) u r\u00f4znych tvorcov trhu zah\u0155\u0148aj\u00fa \u0161\u0165avnat\u00e9 ro\u010dn\u00e9 percent\u00e1 v kryptomen\u00e1ch.<\/strong> Ak v\u0161ak m\u00e1te z\u00e1ujem poduja\u0165 sa na tento typ invest\u00edcie, stoj\u00ed za to prenikn\u00fa\u0165 trochu hlb\u0161ie do toho, z \u010doho pozost\u00e1va a ak\u00e9 s\u00fa jej rizik\u00e1.<\/p>\n\n\n\n

\u010co je to \u0165a\u017eba likvidity?<\/strong><\/h2>\n\n\n\n

V minulosti, sme zalo\u017eili<\/a> \u017ee \u0165a\u017ebu likvidity mo\u017eno pova\u017eova\u0165 len za jeden syst\u00e9m vo v\u00fdklenku Yield Farming, ktor\u00fd zah\u0155\u0148a aj \u010fal\u0161ie pokro\u010dil\u00e9 met\u00f3dy zar\u00e1bania pomocou tokenov DeFi. Vo v\u0161eobecnosti m\u00f4\u017eeme poveda\u0165, \u017ee spo\u010d\u00edva v vkladan\u00ed alebo po\u017ei\u010diavan\u00ed kryptoakt\u00edv na generovanie n\u00e1vratnosti invest\u00edci\u00ed. V porovnan\u00ed s tradi\u010dn\u00fdmi (a regulovan\u00fdmi) mechanizmami sa tu investuje ove\u013ea jednoduch\u0161ie, ke\u010f\u017ee ide st\u00e1le o nekontrolovan\u00fd priestor.<\/p>\n\n\n\n

\"Chia-kryptomena-invest\u00edcie-\u00faspory\"<\/figure><\/div>\n\n\n\n

Pri \u0165a\u017ebe likvidity, poskytovatelia likvidity s\u00fa motivovan\u00ed investova\u0165 ur\u010dit\u00e9 mno\u017estvo finan\u010dn\u00fdch prostriedkov<\/strong> v inteligentnej zmluve o zdru\u017een\u00ed likvidity v\u00fdmenou za ekonomick\u00e9 v\u00fdhody. \u00da\u010delom je zabezpe\u010di\u0165, aby mal fond dostatok akt\u00edv na pou\u017e\u00edvanie a v\u00fdmenu medzi pou\u017e\u00edvate\u013emi.<\/p>\n\n\n\n

Poskytovate\u013e likvidity teda uklad\u00e1 svoje tokeny, zvy\u010dajne v p\u00e1roch (ako napr\u00edklad EHT\/DAI) do fondu likvidity, ktor\u00fd poskytuje Platforma DeFi<\/a>. Potom ostatn\u00ed obchodn\u00edci pou\u017e\u00edvaj\u00fa tieto tokeny a t\u00ed, ktor\u00ed vlo\u017eili svoje tokeny, dostan\u00fa transak\u010dn\u00e9 poplatky (rozdelen\u00e9 medzi v\u0161etk\u00fdch poskytovate\u013eov likvidity).<\/p>\n\n\n\n

Platforma DeFi vyu\u017e\u00edva tento mechanizmus na zabezpe\u010denie dostato\u010dnej likvidity pre burzy platformy. v\u0161ak \u010d\u00edm vy\u0161\u0161\u00ed je po\u010det LP a ni\u017e\u0161\u00ed po\u010det transakci\u00ed, v\u00fdnosy LP sa zni\u017euj\u00fa<\/strong>, ke\u010f\u017ee rozdelenie odmien je primeran\u00e9 celkovej aktivite.<\/p>\n\n\n\n

Na z\u00edskanie vysok\u00fdch investi\u010dn\u00fdch v\u00fdnosov z fondov likvidity je preto be\u017en\u00e9, \u017ee LP vkladaj\u00fa ve\u013ek\u00e9 mno\u017estvo pe\u0148az\u00ed na najob\u013e\u00fabenej\u0161ie decentralizovan\u00e9 burzy s vysok\u00fdmi denn\u00fdmi objemami transakci\u00ed.<\/p>\n\n\n\n

Rizik\u00e1 \u0165a\u017eby likvidity<\/strong><\/h2>\n\n\n\n

Netrval\u00e1 strata<\/strong><\/h3>\n\n\n\n

Jedn\u00fdm z hlavn\u00fdch riz\u00edk, ktor\u00fdm \u010delia za\u010diato\u010dn\u00edci pri prvom vstupe do fondu likvidity, je mo\u017en\u00e1 Do\u010dasn\u00e1 strata. To znamen\u00e1, \u017ee \u017eet\u00f3ny, ktor\u00e9 ste zamkli v z\u00e1sobn\u00edku, m\u00f4\u017eu strati\u0165 hodnotu, pokia\u013e s nimi nebudete m\u00f4c\u0165 pohn\u00fa\u0165<\/strong>. V z\u00e1vislosti od toho, kedy chcete (alebo ste schopn\u00ed) presun\u00fa\u0165 prostriedky, tieto straty m\u00f4\u017eu, ale nemusia by\u0165 trval\u00e9.<\/p>\n\n\n\n

\"Likvidita-\u0165a\u017eba-netrval\u00e1-straten\u00e1\"<\/figure><\/div>\n\n\n\n

Podobne, ak ste poskytli likviditu napr\u00edklad p\u00e1rom ETH\/DAI v konkr\u00e9tnej distrib\u00facii, m\u00f4\u017eete z\u00edska\u0165 odmenu, ktor\u00e1 pre v\u00e1s nie je priazniv\u00e1. Tak\u017ee mo\u017eno ste vlo\u017eili X mno\u017estvo \u017eet\u00f3nov v rovnakom pomere. Povedzme 50% v ETH a 50% v USDC. V momente v\u00fdberu prostriedkov v\u00e1m v\u0161ak m\u00f4\u017eu da\u0165 takpovediac 30% v ETH a 70% v USDC. Je to preto, \u017ee fond likvidity m\u00f4\u017ee v tom momente potrebova\u0165 viac ETH pre swappery tokenov, tak\u017ee pravdepodobne pr\u00eddete o peniaze, ak cena ETH<\/a> st\u00fapa.<\/p>\n\n\n\n

Tie\u017e to m\u00f4\u017ee by\u0165 tak dost\u00e1vate odmeny v in\u00fdch \u017eet\u00f3noch, ako s\u00fa vlo\u017een\u00e9.<\/strong> Tieto tokeny vo v\u0161eobecnosti sl\u00fa\u017eia na riadenie projektov, ale musia sa vymeni\u0165 za in\u00e9 kryptoakt\u00edva na in\u00e9 pou\u017eitie. Preto m\u00f4\u017ee by\u0165 ich volatilita ove\u013ea vy\u0161\u0161ia ako u ulo\u017een\u00e9ho p\u00e1ru a m\u00f4\u017eete vidie\u0165 ovplyvnen\u00e9 va\u0161e zisky. <\/p>\n\n\n\n


D\u00f4veryhodnos\u0165 projektu<\/strong><\/h3>\n\n\n\n

\u010eal\u0161\u00edm rizikom, ktor\u00e9mu s\u00fa pou\u017e\u00edvatelia vystaven\u00ed, je stretnutie s projektmi DeFi, ktor\u00e9 predstavuj\u00fa ve\u013ea probl\u00e9mov (riadenie, \u0161k\u00e1lovate\u013enos\u0165 at\u010f.) a s\u00fa predur\u010den\u00e9 na ne\u00faspech. Alebo s\u00fa priamo od za\u010diatku navrhnut\u00e9 tak, aby im u\u0161li peniaze investorov (podvody \u2013 kober\u010dek \u0165ah\u00e1<\/a>).<\/p>\n\n\n\n

\"Dark-side-NFT-scams\"<\/figure><\/div>\n\n\n\n

Je potrebn\u00e9 urobi\u0165 si vlastn\u00fd prieskum (DYOR<\/a>) pred investovan\u00edm. Autori mnoh\u00fdch projektov, ktor\u00e9 sa \u010dasom uk\u00e1\u017eu ako legit\u00edmne, s\u00fa anonymn\u00ed, preto by ste mali venova\u0165 pozornos\u0165 in\u00fdm znakom. Medzi nimi, pre\u0161tudujte si bielu knihu, pl\u00e1n, tokenomiku, audity inteligentn\u00fdch zml\u00fav (ak existuj\u00fa),<\/strong> a \u010do o tom hovoria odborn\u00edci a \u0161irok\u00e1 verejnos\u0165.<\/p>\n\n\n\n

Mus\u00edte tie\u017e dr\u017ea\u0165 krok so v\u0161etk\u00fdm v\u00fdvojom a mo\u017en\u00fdmi zl\u00fdmi sign\u00e1lmi. Ak to chcete urobi\u0165, mus\u00edte sa pripoji\u0165 ku v\u0161etk\u00fdm kan\u00e1lom poskytovan\u00fdm projektom. Zvy\u010dajne ide o Twitter, Discord a Telegram.<\/p>\n\n\n\n

Zranite\u013enos\u0165 k\u00f3du<\/strong><\/h3>\n\n\n\n

Ke\u010f\u017ee DeFi je nov\u00e1 technol\u00f3gia, je be\u017en\u00e9 n\u00e1js\u0165 protokoly, ktor\u00e9 neboli vyvinut\u00e9 efekt\u00edvne. V pr\u00edpade platforiem na \u0165a\u017ebu likvidity, inteligentn\u00e9 zmluvy<\/a> m\u00f4\u017ee ma\u0165 slab\u00e9 str\u00e1nky, ktor\u00e9 m\u00f4\u017eu by\u0165 zneu\u017e\u00edvan\u00e9 hackermi<\/a> kedyko\u013evek.<\/p>\n\n\n\n

\"Likvidita-\u0165a\u017eba-k\u00f3d-vyu\u017eitie\"<\/figure><\/div>\n\n\n\n

Aj ke\u010f nem\u00f4\u017eete (alebo neviete ako) pre\u010d\u00edta\u0165 riadok po riadku k\u00f3d, ktor\u00fdm boli tieto v\u00fdmeny naprogramovan\u00e9, nikdy neverte projektom, ktor\u00e9 nemaj\u00fa motiva\u010dn\u00e9 programy na zis\u0165ovanie ch\u00fdb<\/strong> a nie s\u00fa pre komunitu transparentn\u00e9, pokia\u013e ide o ich k\u00f3d. Op\u00e4\u0165 je d\u00f4le\u017eit\u00e9 zverej\u0148ovanie verejn\u00fdch auditov.<\/p>\n\n\n\n

Ako si vybra\u0165 Liquidity Pool?<\/strong><\/h2>\n\n\n\n

S\u00fa tam tri hlavn\u00e9 aspekty<\/a> Pri v\u00fdbere baz\u00e9nu likvidity je potrebn\u00e9 zv\u00e1\u017ei\u0165:<\/p>\n\n\n\n