Binance Square
币圈爆仓员
50 Posts

币圈爆仓员

5 Following
33 Followers
32 Liked
Posts
·
--
Article
See translation
没有订单簿,去中心化交易所靠什么报价?在去中心化交易所换币,既没有挂单,也没有对手方一笔笔接单,价格却随时算得出来。这背后靠的就是 AMM(自动做市商)。 $UNI 是把 AMM 带火的 Uniswap 的治理代币。目前 7.548(24h +7.95%)。 和订单簿有什么不同: 中心化交易所大多用订单簿:买方和卖方各自挂单报价,撮合引擎把价格对得上的订单配对成交。 AMM 换了一种思路:预先准备好一个装着两种代币的流动性池,交易者直接和池子兑换,价格由一个公式自动给出。 恒定乘积公式: Uniswap V2 用的是恒定乘积公式 x × y = k:不计手续费的话,池子里两种代币数量的乘积,在兑换前后保持不变。 池子里某种代币被买走得越多,剩下的就越少,价格也就越高。所以一次买得越多,成交均价越贵,这就是价格冲击(滑点)的由来。 谁在给池子提供资金: 池子里的资金来自流动性提供者(LP):他们按池子当前的价格比例存入两种代币,赚取兑换手续费的分成。Uniswap V2 每笔兑换收取 0.3% 的手续费,过去全部归 LP;后来治理开启了协议费,以太坊主网 V2 池子里协议会分走一部分(2025 年底起 LP 0.25%、协议 0.05%)。 Uniswap V3 引入了集中流动性,LP 可以只在自己选定的价格区间里提供流动性,同样的资金利用得更有效率;但价格离开这个区间以后,就不再收到手续费。 价格怎么和外面保持一致: AMM 本身并不知道外面是什么价,报价只由池子里两种代币的数量比例决定。和其他市场出现价差的时候,套利交易会低买高卖,把价格推回到接近一致。 我的看法: 弄懂 AMM 以后,滑点、池子深度、无常损失这些概念就都串起来了:它们说的其实是同一套公式在不同情况下的样子。慢一点不丢人,活下来比一次赚多少更重要。 你以前有没有误解过这一点? 我也会看错,自己判断。

没有订单簿,去中心化交易所靠什么报价?

在去中心化交易所换币,既没有挂单,也没有对手方一笔笔接单,价格却随时算得出来。这背后靠的就是 AMM(自动做市商)。
$UNI 是把 AMM 带火的 Uniswap 的治理代币。目前 7.548(24h +7.95%)。
和订单簿有什么不同:
中心化交易所大多用订单簿:买方和卖方各自挂单报价,撮合引擎把价格对得上的订单配对成交。
AMM 换了一种思路:预先准备好一个装着两种代币的流动性池,交易者直接和池子兑换,价格由一个公式自动给出。
恒定乘积公式:
Uniswap V2 用的是恒定乘积公式 x × y = k:不计手续费的话,池子里两种代币数量的乘积,在兑换前后保持不变。
池子里某种代币被买走得越多,剩下的就越少,价格也就越高。所以一次买得越多,成交均价越贵,这就是价格冲击(滑点)的由来。
谁在给池子提供资金:
池子里的资金来自流动性提供者(LP):他们按池子当前的价格比例存入两种代币,赚取兑换手续费的分成。Uniswap V2 每笔兑换收取 0.3% 的手续费,过去全部归 LP;后来治理开启了协议费,以太坊主网 V2 池子里协议会分走一部分(2025 年底起 LP 0.25%、协议 0.05%)。
Uniswap V3 引入了集中流动性,LP 可以只在自己选定的价格区间里提供流动性,同样的资金利用得更有效率;但价格离开这个区间以后,就不再收到手续费。
价格怎么和外面保持一致:
AMM 本身并不知道外面是什么价,报价只由池子里两种代币的数量比例决定。和其他市场出现价差的时候,套利交易会低买高卖,把价格推回到接近一致。
我的看法:
弄懂 AMM 以后,滑点、池子深度、无常损失这些概念就都串起来了:它们说的其实是同一套公式在不同情况下的样子。慢一点不丢人,活下来比一次赚多少更重要。
你以前有没有误解过这一点?
我也会看错,自己判断。
Whoa, ARC jumped over 6 points in five minutes I was just looking at something else—looked back and it was already like this? Every time I stop watching, it pumps. The moment I watch it, it stops moving. Anyone on board for this run? #ARC
Whoa, ARC jumped over 6 points in five minutes

I was just looking at something else—looked back and it was already like this?

Every time I stop watching, it pumps. The moment I watch it, it stops moving.

Anyone on board for this run?

#ARC
I just came across a trending topic saying a robot dog went into the Ailao Mountains and filmed some kind of flower from the underworld My first reaction wasn’t about the flower—it was, “This thing can go deep into the mountains now?” Are concepts like robot dogs and AI exploration about to get hyped up again? Anyone keeping an eye on WLD, TAO, and RENDER lately? #WLD
I just came across a trending topic saying a robot dog went into the Ailao Mountains and filmed some kind of flower from the underworld

My first reaction wasn’t about the flower—it was, “This thing can go deep into the mountains now?”

Are concepts like robot dogs and AI exploration about to get hyped up again?

Anyone keeping an eye on WLD, TAO, and RENDER lately?

#WLD
I’d just finished saying $S had surged 21% on heavy volume, and then it turned around and dumped 6% in just 5 minutes. It went from 0.0739 back down to 0.0675. How are the folks who chased the pump feeling right now? That’s how small-cap coins are: when they’re going up, it feels like you’ve missed out on a fortune; when they drop, you realize your position is bigger than you thought. #S Did anyone here chase the top?
I’d just finished saying $S had surged 21% on heavy volume, and then it turned around and dumped 6% in just 5 minutes.

It went from 0.0739 back down to 0.0675. How are the folks who chased the pump feeling right now?

That’s how small-cap coins are: when they’re going up, it feels like you’ve missed out on a fortune; when they drop, you realize your position is bigger than you thought.

#S Did anyone here chase the top?
Let me tell you all something: $LINK is down 0.12%. Share your thoughts in the comments.
Let me tell you all something: $LINK is down 0.12%. Share your thoughts in the comments.
Everyone, take note: PeckShield: $THEO was hacked; 19 million tokens were minted and cashed out for about $1.76 million. Check carefully before signing. Don’t click links you don’t recognize. Asset security always comes first. When bad news breaks, the worst thing is to panic and buy the dip at the same time. Steady your positions first. $ETH Steady your positions first. #ETH Just sharing some thoughts—don’t take this as investment advice.
Everyone, take note: PeckShield: $THEO was hacked; 19 million tokens were minted and cashed out for about $1.76 million.
Check carefully before signing. Don’t click links you don’t recognize. Asset security always comes first. When bad news breaks, the worst thing is to panic and buy the dip at the same time. Steady your positions first.
$ETH Steady your positions first.

#ETH

Just sharing some thoughts—don’t take this as investment advice.
🤔 $ADA suddenly surged 4.36%! Current price: 34679.57, with trading volume up 4.7x. Let me tell you something: retail investors alone can’t generate this kind of volume. As long as the pullback doesn’t break below 33985.98, the structure remains intact. What do you think?
🤔 $ADA suddenly surged 4.36%! Current price: 34679.57, with trading volume up 4.7x. Let me tell you something: retail investors alone can’t generate this kind of volume. As long as the pullback doesn’t break below 33985.98, the structure remains intact. What do you think?
$XRP plunged 0.09%! The current price is 52972.51, and panic selling has kicked in. Have you noticed that when prices drop this sharply, it’s actually better to stay calm and see whether 51913.06 holds as support? Share your thoughts in the comments.
$XRP plunged 0.09%! The current price is 52972.51, and panic selling has kicked in. Have you noticed that when prices drop this sharply, it’s actually better to stay calm and see whether 51913.06 holds as support? Share your thoughts in the comments.
$ETH plunged -4.22%! The current price is 28410.98, and panic selling has kicked in. I just came across something saying that with a sudden drop like this, we should stay calm and see whether 27842.76 can hold. Am I overthinking it?
$ETH plunged -4.22%! The current price is 28410.98, and panic selling has kicked in. I just came across something saying that with a sudden drop like this, we should stay calm and see whether 27842.76 can hold. Am I overthinking it?
🤔 $XRP suddenly surged 1.55%! The current price is 46506.33, and trading volume has grown 3.8 times. Honestly, retail investors alone couldn't generate this kind of volume. If it pulls back to 45576.2 and holds, the structure remains intact. Am I right?
🤔 $XRP suddenly surged 1.55%! The current price is 46506.33, and trading volume has grown 3.8 times. Honestly, retail investors alone couldn't generate this kind of volume. If it pulls back to 45576.2 and holds, the structure remains intact. Am I right?
Here it comes! $BLUR The funding rate has plunged to -0.352%! Shorts are way too crowded, aren’t they? Annualized at 771.7%, shorts have been paying the funding fee all along—watch out for a short squeeze. The more crowded the positioning, the more likely the market is to move in the opposite direction. What do you think will happen next? Don’t take what I say as advice.
Here it comes!
$BLUR The funding rate has plunged to -0.352%! Shorts are way too crowded, aren’t they?
Annualized at 771.7%, shorts have been paying the funding fee all along—watch out for a short squeeze.
The more crowded the positioning, the more likely the market is to move in the opposite direction. What do you think will happen next?

Don’t take what I say as advice.
I recently noticed $DOGE surge by 7.44%. Share your thoughts in the comments.
I recently noticed $DOGE surge by 7.44%. Share your thoughts in the comments.
Have you noticed $SOL dropped 2.44%? What do you think?
Have you noticed $SOL dropped 2.44%? What do you think?
🤔 $DOT suddenly surged 0.86%! Current price is 650.66, with trading volume increasing 3.5 times. To be serious, this level of volume isn't something retail investors can create. If it pulls back to 637.65 and doesn't break the structure, it's still intact. Am I overthinking it?
🤔 $DOT suddenly surged 0.86%! Current price is 650.66, with trading volume increasing 3.5 times. To be serious, this level of volume isn't something retail investors can create. If it pulls back to 637.65 and doesn't break the structure, it's still intact. Am I overthinking it?
Trending topic ≠ buying pressure: “Kids are getting dumber, AI is punishing the next generation” is trending. $WLD 24h -4.74%; only increased trading volume counts. #WLD Just browsing—don’t copy this; use your own judgment.
Trending topic ≠ buying pressure: “Kids are getting dumber, AI is punishing the next generation” is trending. $WLD 24h -4.74%; only increased trading volume counts.

#WLD

Just browsing—don’t copy this; use your own judgment.
🤔 $ADA suddenly surged 4.68%! The current price is 31065.45, and trading volume has expanded 1.7 times. Have you noticed that this kind of volume isn't something retail investors can generate? As long as the pullback holds above 30444.14, the structure remains intact. Anyone else feel the same?
🤔 $ADA suddenly surged 4.68%! The current price is 31065.45, and trading volume has expanded 1.7 times. Have you noticed that this kind of volume isn't something retail investors can generate? As long as the pullback holds above 30444.14, the structure remains intact. Anyone else feel the same?
🤔 $BTC suddenly surged 3.17%! The current price is 7078.22, and trading volume is up 1.6 times. Have you noticed that this kind of volume isn’t something retail investors can generate? As long as it retests 6936.66 without breaking below, the structure remains intact. What do you think?
🤔 $BTC suddenly surged 3.17%! The current price is 7078.22, and trading volume is up 1.6 times. Have you noticed that this kind of volume isn’t something retail investors can generate? As long as it retests 6936.66 without breaking below, the structure remains intact. What do you think?
$DOT got slammed, down 0.1%! The current price is 33929.66, and panic selling has kicked in. On a serious note, a sharp drop like this is exactly when you need to stay calm and see whether 33251.07 holds as support. Anyone else feel the same?
$DOT got slammed, down 0.1%! The current price is 33929.66, and panic selling has kicked in. On a serious note, a sharp drop like this is exactly when you need to stay calm and see whether 33251.07 holds as support. Anyone else feel the same?
Today's market gossip: a16z rethinks KYC: institutions are embracing on-chain, so there's no need to be stuck in the traditional KYC framework. The bulls nodded in agreement. Read the news three times, found three different interpretations, and finally decided to wait and see. $BTC Currently 83502.34, 24h -0.36% #BTC Just sharing some thoughts—make your own decisions when buying or selling.
Today's market gossip: a16z rethinks KYC: institutions are embracing on-chain, so there's no need to be stuck in the traditional KYC framework.
The bulls nodded in agreement.
Read the news three times, found three different interpretations, and finally decided to wait and see.
$BTC Currently 83502.34, 24h -0.36%

#BTC

Just sharing some thoughts—make your own decisions when buying or selling.
🤔 $SOL suddenly surged 1.47%! The current price is 49109.23, with trading volume up 1.8x. Have you noticed that this kind of volume isn’t something retail investors can generate? As long as it holds above 48127.05 on a pullback, the structure remains intact. Anyone else feel the same?
🤔 $SOL suddenly surged 1.47%! The current price is 49109.23, with trading volume up 1.8x. Have you noticed that this kind of volume isn’t something retail investors can generate? As long as it holds above 48127.05 on a pullback, the structure remains intact. Anyone else feel the same?
Log in to explore more content
Join global crypto users on Binance Square
⚡️ Get latest and useful information about crypto.
💬 Trusted by the world’s largest crypto exchange.
👍 Discover real insights from verified creators.
Email / Phone number
Sitemap
Cookie Preferences
Platform T&Cs