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尼日利亚法院将患病币安高管的保释期限推迟至 10 月
Bitfarms 在公开信中驳斥了 Riot Platforms 的“误导性言论”
首席财务官透露，卡马拉·哈里斯向 Coinbase 寻求加密货币竞选捐款
Penpie 利用重入攻击获利 2700 万美元
WazirX 黑客通过 Tornado Cash 洗钱 1000 万美元
尼日利亚法院将患病币安高管的保释期限推迟至 10 月
Bitfarms 在公开信中驳斥了 Riot Platforms 的“误导性言论”
首席财务官透露，卡马拉·哈里斯向 Coinbase 寻求加密货币竞选捐款
Penpie 利用重入攻击获利 2700 万美元
广告 ▸ 交易
做市商，区块链项目的秘密武器
做市商利用算法和套利来维持市场流动性，确保交易无缝并增强市场健康。
发布时间：2024 年 9 月 5 日下午 6:00（UTC）
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做市商，区块链项目的秘密武器
封面艺术/插图来自 CryptoSlate。图片包含组合内容，其中可能包括 AI 生成的内容。
披露：这是一篇赞助文章。读者在采取任何行动之前应进行进一步研究。了解更多 ›
做市商凭借专业知识和经验，是市场的中坚力量。他们随时买卖资产，提供市场买卖价差。
他们通常被称为“流动性提供者”，仅仅是因为他们的主要目标是保持市场流动，确保他们运营的市场中所有资产始终存在买家和卖家。
做市商不可或缺。尽管他们可能并不总是对交易生命周期保持透明，但他们始终在幕后运作，使用复杂的算法和套利策略来维持市场运转。
做市商不仅仅是追求利润，他们还是市场塑造者。他们使市场流动起来并平稳运行，增强市场流动性和深度，创造需求和供应。
在传统市场中，Citadel Securities、Virtu Financial 和 Jump Trading 是全球最受认可的做市商之一，尽管摩根士丹利是纳斯达克的做市商。
在加密货币中，做市商还旨在确保其运营的市场有足够的流动性，以确保有足够的交易量进行无缝交易。有了他们，流动性可能会更大。他们在加密货币市场中发挥着至关重要的作用，经常导致代币大幅波动。
做市商大致可分为项目顾问和传统做市商，两者的目的都是保证市场的流动性，但运作方式不同。
做市商作为项目顾问，协助项目启动。他们为关键领域的成功做出了贡献，例如稳健的代币经济和代币生成事件 (TGE) 的构建、成功的代币上市和融资。
另一方面，传统做市商不参与低市场价值的项目，并承担支持市场流动性、缩小供需缺口、促进高效交易等一系列任务。
Market sentiment and trends determine which strategies market makers will adopt. During an upward trend or bull market, they create FOMO (fear of missing out). In the bear market, they generate fear among traders to compel traders or hodlrs to dump their tokens.
The good and the bad
As with everything, across the crypto market, there are those market makers who only take tokens from startups and sell them, but others like Gotbit, for example, bring tremendous value to the project with which they work.
“Prominent projects have achieved success thanks to their teams and technology because they solve real-world problems and have great market makers behind them,” said Alex Andryunin, Gotbit CEO and Founder.
Great market makers, he added, “help with all areas of a project, including marketing, tokenomics design, business development, and token generation events, among other very critical areas,” Andryunin added.
The Gotbit CEO said ethical and well-intentioned market makers “help ensure the health of the crypto market, and by backing liquidity, reducing spreads, and ensuring fair markets, they help facilitate global tokenized economies.”
He said that for startups and projects, “market makers like us help projects thrive and achieve success for themselves and their communities. Through greater transparency, market makers help all market participants, particularly token issuers, make more informed decisions.”
Market makers shouldn’t directly influence the price of tokens because if they do, crypto exchange operators usually notice. This could lead them to restrict tokens from their platforms and report them to authorities, which could decide to cancel their licenses, Andryunin said.
“I’m not going to name and shame any of my competitors, but there are some out there that deliberately influence the price for their own profit, which is considered market manipulation, and that is illegal and punishable,” he said.
Andryunin said great market makers should refrain from cooperating with each other. “They have no right to do so. It is considered fraud, but also, and ultimately, it is not profitable financially.”
Alex Andryunin also clarified that wash trading should not be perceived as market-making. “Let me explain: WW is a manipulation technique where unethical traders try to drive up the price of a token by artificially increasing its trading volume. What wash traders do, which market makers do not, is send crypto among several wallet addresses they control to give the false impression of massive trading activity and demand.”
That said, certain firms pose as market makers but are not, as they buy, copy, or create software that essentially consists of wash-trading bots, Andryunin warned. “As a rule of thumb, hiring these types of market makers is a recipe for the collapse of any project.”
他强调，项目必须确保其做市商注重业绩。“一个有道德、注重成功的做市商只有在客户赚钱时才能赚钱，而其他以渴望模式运营的人则只能获得代币来管理。”
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