Emakethe yenkunzi ye-cryptocurrency yango-2017, sahlangabezana nezinkulumo ezingelutho kanye nokushiseka ngokweqile.Izintengo zamathokheni nokulinganisa kuthintwa yizici eziningi ezingenangqondo.Amaphrojekthi amaningi awakaqedi ukuhlela emigwaqweni yawo, futhi isimemezelo sobambiswano kanye ne-Shanghai Stock Exchange singakhuphula intengo yamathokheni.

Kodwa manje isimo sesihlukile.Izintengo zamathokheni ezikhuphukayo zidinga ukusekelwa kuzo zonke izici ezifana nensizakalo yangempela, ukuhamba kwemali kanye nokubulawa kweqembu okuqinile.Okulandelayo kuwuhlaka olulula lokuhlola ukutshalwa kwezimali kwamathokheni e-DeFi.Izibonelo embhalweni zifaka: $MKR (MakerDAO), $SNX (Synthetix), $KNC (Kyber Network)

Ukulinganisa
Njengoba isamba sokunikezwa kwezimali ze-crypto sihluka kakhulu, sikhetha inani lemakethe njengenkomba yokuqala evamile:
Intengo yethokheni ngayinye * ukunikezwa okuphelele = inani lemakethe eliphelele

Ngokusekelwe ekulinganisweni okujwayelekile, izinkomba ezilandelayo ezisuselwe kokulindelwe ngokwengqondo zihlongozwa ukuze zilinganise imakethe:

1. $ 1M-$ 10M = umjikelezo wembewu, izici ezingaqinisekile kanye nemikhiqizo ye-mainnet.Izibonelo zamanje kulobu bubanzi zifaka: I-Opyn, i-Hegic, ne-FutureSwap.Uma ufuna ukuthwebula inani eliphakeme kakhulu le-Alpha, ungakhetha izinto ezingaphakathi kwalolu hlu lwenani lemakethe.Kodwa ukuthengwa okuqondile ngenxa ye-liquidity akulula, futhi ithimba alizimisele ngempela ukukhulula inani elikhulu lamathokheni.

2. $ 10M-$ 45M = Thola imakethe yomkhiqizo ecacile nefanelekile, futhi ube nedatha yokusekela ukuba nokwenzeka kwephrojekthi.Kubantu abaningi, ukuthenga amathokheni anjalo kulula.Yize ezinye izingcuphe ezinkulu (ithimba, ukwenziwa) sezivele zizincane, kusenengozi yokuthi ukukhula kwedatha yomkhiqizo kuzoba buthaka noma kwehla kulesi sigaba.

3. $45M-$200M = Isikhundla esihamba phambili ezimakethe zabo, ngamaphuzu okukhula acacile, imiphakathi kanye nobuchwepheshe bokusekela iphrojekthi ukuze kuzuzwe imigomo yayo.Iningi lamaphrojekthi ajwayele ukwakhiwa kulolu hlu aluyona ingozi kakhulu, kodwa ukulinganisa kwawo kudinga inani elikhulu lezimali zesikhungo ukuze kukhuphuke ikilasi, imakethe ikhule kakhulu, noma abanikazi abasha abaningi.

4. $ 200M-$ 500M= Ibusa ngokuphelele.Okuwukuphela kophawu engingacabanga ngalo olufanelana nalolu hlu yi-$MKR, ngoba inezisekelo eziningi zokusetshenziswa nabatshalizimali bezikhungo (a16z, Paradigm, Polychain).Isizathu esiyinhloko sokuthenga amathokheni kulolu hlu lokulinganisa ukuthola imali engenayo emzuliswaneni olandelayo wokuntengantenga kwemakethe yezinkunzi.

Isilinganiso sekhodi
Kumaphrothokholi amaningi ahlukaniselwe amazwe, ikhwalithi yekhodi ibaluleke kakhulu, ubungozi obuningi kakhulu buzobangela ukuthi iphrothokholi ngokwayo igqekezwe.Noma yikuphi ukuhlasela kwe-hacker okuphumelelayo okuphumelelayo kuzobeka isivumelwano onqenqemeni lokuqothuka futhi kulimaza kakhulu ukukhula kwesikhathi esizayo.Okulandelayo yizinkomba ezibalulekile zokuhlola ikhwalithi yamakhodi ephrothokholi:
1. Ubunkimbinkimbi bezakhiwo.Izinkontileka ezihlakaniphile ziyizinqubo ezintekenteke kakhulu, ngoba zingakwazi ukuphatha izigidi zamadola ngezimali.Uma kuyinkimbinkimbi kakhulu i-architecture ehambisanayo, izinkomba zokuhlasela ziyanda.Ithimba elikhetha ukwenza lula umklamo wobuchwepheshe lingase libe nolwazi olucebile lokubhala lwesofthiwe, futhi ababuyekezi nonjiniyela bangaqonda kalula isisekelo sekhodi.

2. Ikhwalithi yokuhlolwa kwekhodi okuzenzakalelayo.Ekuthuthukisweni kwesofthiwe, kuwumkhuba ovamile ukubhala izivivinyo ngaphambi kokubhala ikhodi, engaqinisekisa izinga eliphezulu lesofthiwe yokubhala.Lapho ubhala izinkontileka ezihlakaniphile, le ndlela ibalulekile ngoba ivimbela izingcingo ezinonya noma ezingavumelekile lapho ubhala ingxenye encane yohlelo.Kufanele kuqashelwe ngokukhethekile imitapo yolwazi enekhodi ephansi.Isibonelo, ithimba le-bZx alizange liye esivivinyweni, okuholele ekulahlekelweni kwezigidi ezingu-2 zamaRandi emalini yabatshalizimali.

3. Izinqubo zokuthuthukisa jikelele.Lokhu akusona isici esibalulekile ekunqumeni ukusebenza/ukuphepha, kodwa kungabonisa ngokuqhubekayo ikhodi yokubhala kokuhlangenwe nakho kweqembu.Ukufomethwa kwekhodi, ukugeleza kwe-git, ukuphathwa kwamakheli okukhishwa, kanye nepayipi lokuhlanganiswa okuqhubekayo/ukuthunyelwa konke kuyizici zesibili, kodwa umbhali wekhodi angatshelwa.

4. Hlola imiphumela yocwaningo.Yiziphi izindaba ezibalulekile ezitholwe umcwaningi mabhuku (kucatshangwa ukuthi ukubuyekezwa sekuqediwe), ukuthi ithimba liphendule kanjani, nokuthi yiziphi izinyathelo ezifanele ezathathwa ukuze kuqinisekiswe ukuthi abukho ubungozi obuyimpinda ohlelweni lokuthuthukiswa.Inzuzo yeziphazamisi ingabonisa ukuzethemba kwethimba ekuvikelekeni.

5. Ukulawulwa kwephrothokholi, ubungozi obukhulu kanye nenqubo yokuthuthukisa.Uma iphezulu ingcuphe yesivumelwano kanye nokushesha kwenqubo yokuthuthukisa, abasebenzisi abaningi bazodinga ukuthandazela ukuthi umnikazi wesivumelwano angathunjwa noma aqolwe.

Inkomba yethokheni
Njengoba kukhona ukukhiya ekuhlinzekeni okuphelele kwamathokheni, kuyadingeka ukuqonda ukujikeleza kwamanje kanye nokunikezwa okuphelele okungenzeka.Amathokheni enethiwekhi asebenze ngokushelela isikhathi esithile kungenzeka ukuthi asatshalaliswe ngendlela efanele, futhi kungenzeka ukuthi umtshali-zimali oyedwa alahle inani elikhulu lamathokheni futhi abangele umonakalo kuphrojekthi kuba mncane kakhulu.
Ukwengeza, kubalulekile ngokulinganayo ukuqonda okujulile kokuthi ithokheni isebenza kanjani kanye nenani elinikeza inethiwekhi, ngoba ingozi yokusebenza okucatshangelwayo yodwa iphezulu.Ngakho-ke sidinga ukugxila kulezi zinkomba ezilandelayo ezibalulekile:

I-liquidity yamanje
Ukunikezwa okuphelele
Amathokheni aphethwe isisekelo / ithimba
Ishejuli yokukhishwa kwethokheni yokukhiya nesitoko esingakhishiwe
Asetshenziswa kanjani amathokheni ku-ecosystem yephrojekthi futhi hlobo luni lokugeleza kwemali abasebenzisi abangalulindela?
Ukuthi ithokheni linokwehla kwamandla emali, iklanywe kanjani indlela
Ukukhula kwesikhathi esizayo
Ngokusekelwe ekubalukeni kwemali yamanje, abatshalizimali kufanele balandelele ukuthi yiziphi izinkomba ezibalulekile ukuze bahlole ukuthi ithokheni lingaqhubeka yini nokwazisa:
Amathuba osayizi wemakethe
Indlela yokuthola inani lethokheni
Ukukhula komkhiqizo kanye nokusebenzisa ukuthuthukiswa kwawo
iqembu
Le yingxenye evamise ukunganakwa futhi ivame ukukutshela okwengeziwe ngamakhono okusebenzisa esikhathi esizayo eqembu nokuthi umkhiqizo uzokwenza kanjani ngokuzayo.
Sidinga ukunaka ukutshala imali kuma-cryptocurrencies.Nakuba ithimba linolwazi lokwakha imikhiqizo yobuchwepheshe bendabuko (amawebhusayithi, izinhlelo zokusebenza, njll.), noma ngabe ihlanganisa ngempela ubuchwepheshe emkhakheni wokubethela.Amanye amaqembu azochema kulezi zindawo ezimbili, kodwa lokhu kungalingani kuzovimbela ithimba ekutholeni izimakethe nemigwaqo efanelekile yemikhiqizo.

Ngokubona kwami, lawo maqembu anolwazi oluningi kakhulu ekusunguleni ibhizinisi lobuchwepheshe be-inthanethi kodwa angaqondi ukuguquguquka kobuchwepheshe bokubethela azokwenza:

Ngenxa yokuntula ukuqonda okwanele kwemakethe kanye nokuntula ukuzethemba, bazoshintsha izingqondo zabo ngokushesha
Ukuntuleka kokuhwebelana ngokucophelela phakathi kwezokuphepha, ulwazi lomsebenzisi kanye nemodeli yebhizinisi
Ngakolunye uhlangothi, lawo maqembu angenalo ulwazi lobuchwepheshe bokubethela okumsulwa ekusunguleni ibhizinisi lobuchwepheshe be-inthanethi ekugcineni azo:
Ukunaka kakhulu ukuthi yiziphi izimiso okufanele zibe emkhakheni wokubethela, kodwa hhayi isikhathi esanele sokuthola ukuthi abasebenzisi bafunani.
Ukuntuleka kokumakethwa kwemikhiqizo ehlobene, ikhono elibuthakathaka lokungena emakethe futhi umkhiqizo awukwazi ukunqoba ukwethenjwa, ngakho-ke kuba nzima kakhulu ukusungula imikhiqizo elingana nemakethe.
Sengikushilo lokho, kunzima kuwo wonke amaqembu ukuthi aqine kuzo zombili lezi zigaba ekuqaleni.Kodwa-ke, njengomtshali-zimali, noma ngabe ithimba linobungcweti obufanele ezindaweni ezimbili kufanele lifakwe ekucatshangelweni kwalo kokutshalwa kwezimali futhi linake ubungozi obuhambisanayo.