7 months ago
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Through clAssets, users would be able to trade other tokens without leaving Solana’s decentralized ecosystem.
Wrapped crypto protocol Clone officially launched its public mainnet on March 1st, introducing Clone Markets and Clone Liquidity, platforms aimed at providing highly liquid markets for non-native assets through “cloned assets” (clAssets). Built on the Solana blockchain, this movement aims to provide a more streamlined and accessible trading experience for users.
The launch is a significant step towards Clone’s goal of simplifying the trading of a broad spectrum of non-native tokens on Solana, leveraging the blockchain’s high-speed transactions and low transaction fees.
“With Clone’s mainnet launch on Solana, we’re not just enabling trading of non-native tokens; we’re envisioning a future where Solana becomes a universal trading platform. Our mission is to make any token tradable without leaving Solana, expanding our community and unlocking the blockchain’s true potential,” stated Evan Deutsch, co-inventor of Clone.
Solana’s decentralized finance (DeFi) ecosystem doesn’t have a platform for spot trading of non-native tokens, and that’s the gap Clone seeks to fill with its clAssets. These are cloned versions of existing on-chain assets, like wrapped tokens, hosted on the Clone protocol, designed to offer liquidity providers and traders greater flexibility and efficiency.
Clone Markets serves as a decentralized trading platform for buying and selling clAssets, while Clone Liquidity offers a novel Comet Liquidity System for liquidity providers. This system supports leveraged, cross-margin liquidity pools with USD Coin (USDC) as the sole collateral, allowing unparalleled capital efficiency in liquidity provision.
The introduction of clAssets aims to enhance capital efficiency in Clone’s liquidity pools, promising at least twice the capital efficiency compared to traditional Automated Market Makers (AMMs). This approach is expected to facilitate rapid scaling to include a wide range of non-native, on-chain assets in a single exchange, improving liquidity and reducing capital requirements for users.
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