Kugwiritsa ntchito njira yopitilira ndalama mu crowdfunding

Kuwonekera kwa cryptocurrencies kwachititsa chidwi gulu lalikulu la machitidwe omwe zofuna zachuma za otenga nawo mbali zimagwirizana m'njira yoti iwo, azichita zofuna zawo, awonetsetse kuti dongosololi likugwira ntchito mokhazikika. Pofufuza ndi kupanga machitidwe odzidalira okha, otchedwa cryptoeconomic primitives - zomangamanga zonse zomwe zimapanga mwayi wogwirizanitsa ndi kugawa ndalama kuti akwaniritse cholinga chimodzi pogwiritsa ntchito njira zosiyanasiyana zachuma ndi cryptographic.

Limodzi mwavuto lalikulu la kuchulukana kwachuma ndilakuti omwe angakhale opereka ndalama zamapulojekiti ndi mabungwe nthawi zambiri amakhala ndi zolimbikitsa zochepa zowathandizira. Izi ndizowona makamaka pama projekiti ofunikira pagulu, mapindu omwe amalandilidwa ndi ambiri, pomwe zolemetsa zothandizira ndalama zimagwera paothandizira ochepa. Ma projekiti anthawi yayitali nawonso nthawi zambiri amavutika ndi kuchepa kwa chidwi kwapang'onopang'ono kuchokera kwa othandizira ndipo amakakamizika kuyika ndalama zambiri pakutsatsa. Zovuta zoterezi zingayambitse kutsekedwa kwa polojekiti, ngakhale kuti ndi yofunika, ndipo palimodzi amatchulidwanso kuti vuto laulere.

Ukadaulo wokhazikika wa ndalama watsegula mwayi wogwiritsa ntchito njira zatsopano zopezera ndalama zomwe zimathandizira kuthetsa vuto laulere. Kukhalapo kwa cryptoeconomic primitives kumathandizira ntchitoyi, kulola kukhazikitsidwa kwa machitidwe ogwirizanitsa omwe ali ndi katundu wodziwika kale. Chimodzi mwazinthu zoyambirirazi, zomwe zitha kugwiritsidwa ntchito powonetsetsa kuti mapulojekiti ofunikira amaperekedwa mosalekeza komanso kuti azitha kuyang'anira bwino zinthu zomwe amagawana, ndi njira yolumikizira zizindikiro (chizindikiro chomangirira pamapindikira) [1]. Makinawa amachokera ku lingaliro chizindikiro, mtengo wake womwe mwadongosolo umatengera kuchuluka kwa ma tokeni omwe akuyenda ndipo akufotokozedwa ndi equation ya curve yokwera:

Njirayi ikugwiritsidwa ntchito mu mawonekedwe smart contract, yomwe imangotulutsa ndikuwononga ma tokeni:

• Chizindikirocho chikhoza kuperekedwa nthawi iliyonse pochigula kudzera mu mgwirizano wanzeru. Zizindikiro zambiri zimaperekedwa, zimakwera mtengo wopereka zizindikiro zatsopano.
• Ndalama zomwe zimaperekedwa popereka zizindikiro zimasungidwa m'malo osungira ambiri.
• Nthawi iliyonse, chizindikirocho chikhoza kugulitsidwa kudzera mu mgwirizano wanzeru posinthana ndi ndalama kuchokera kumalo osungirako ambiri. Pankhaniyi, chizindikirocho chimachotsedwa pakuyenda (kuwonongeka) ndipo mtengo wake umachepa.

Makina oyambira amatha kusinthidwa kapena kukulitsidwa kutengera kugwiritsa ntchito. Pankhani yapadera ya kampeni yopezera anthu ambiri, mwiniwake wa mgwirizano ndi gulu la polojekiti, ndipo gawo lina la zizindikiro kuchokera pa kugula kapena kugulitsa kulikonse amasamutsidwa kwa iwo (mwachitsanzo, 20%). Ogwira zizindikiro amakhala othandizira pulojekitiyi, osati kungotumiza ndalama ku thumba la chithandizo cha polojekiti, komanso kuwonjezera mtengo wa zizindikiro ndi kugula kulikonse. Gulu la polojekitiyi pambuyo pake limagulitsa zizindikiro zomwe zalandiridwa ndikugwiritsa ntchito ndalamazo kuti zikwaniritse zolinga za kampeni.

Makinawa amapangidwa m'njira yoti othandizira oyambirira alandire zizindikiro pamtengo wotsika ndipo pambuyo pake akhoza kuwagulitsa pamtengo wapamwamba, koma pokhapokha ngati kuchuluka kwa zizindikiro zomwe zikufalitsidwa zikuwonjezeka. Mwayi wopeza ndalama umalimbikitsa othandizira oyambirira kuti akope chidwi kwambiri ndi polojekitiyi, motero akuwonjezera kuchuluka kwa zopereka ndikupangitsa kuti oyambitsa ake azitha kulimbikitsa ntchitoyi. Pamene otsogolera oyambirira amagulitsa gawo lawo la zizindikiro, mtengo wawo umachepa ndipo izi zimalimbikitsa ophunzira atsopano kuti alowe nawo kampeni. Kuchita bwino kumeneku kungathe kubwereza mobwerezabwereza, kuwonetsetsa kuti ndalama zothandizira polojekitiyi zikupitirizabe. Ngati gulu la polojekiti likuyamba kusonyeza zotsatira zosasangalatsa, ndiye kuti olemba zizindikiro adzafuna kugulitsa zizindikiro zawo, chifukwa chake mtengo wawo udzagwa ndipo ndalama zidzatha.

Poganizira ma projekiti ambiri osiyanasiyana omwe amapeza ndalama molingana ndi dongosolo lomwe lafotokozedwa pamwambapa, omwe angakhale othandizira adzayesa kupeza ena odalirika ndikuyikamo ndalama zidakalipo. Kuchokera pakuwona ndalama zogulira ndalama, mapulojekiti omwe amalonjeza kwambiri adzakhala otchuka komanso okhudzidwa ndi anthu, chifukwa adzakopa othandizira ambiri m'tsogolomu ndipo kuwonjezeka kwakukulu kwa mtengo wa chizindikiro kungayembekezere kuchokera kwa iwo. Mwa njira iyi, kuyanjanitsa kwa zofuna zachuma za anthu omwe atenga nawo mbali mu dongosololi pokhudzana ndi zolinga zofanana zimatheka.

Реализация

Mgwirizano wanzeru wokhazikitsa njira yolumikizirana uyenera kupereka njira zogulira (kutulutsa) ndi kugulitsa (kuwononga) ma tokeni. Tsatanetsatane wa kakhazikitsidwe kangasiyane kwambiri kutengera zomwe mukufuna komanso zomwe mukufuna. Kukambitsirana kwa mawonekedwe onse a mawonekedwe akupezeka apa: https://github.com/ethereum/EIPs/issues/1671.

Popereka ndi kuwononga ma tokeni, mgwirizano wanzeru umachita kuwerengera kwamitengo yogula ndi kugulitsa molingana ndi njira yomangiriza. Mzerewu umayikidwa ndi ntchito yomwe imatsimikizira mtengo wa chizindikiro kupyolera mu chiwerengero chonse cha zizindikiro zomwe zimafalitsidwa . Ntchitoyi imatha kukhala ndi mitundu yosiyanasiyana, mwachitsanzo:

Taganizirani ntchito ya mphamvu:

Mtengo wamtengo wosungidwa zofunika kugula zizindikiro mu kuchuluka , ikhoza kuwerengedwa ngati dera lomwe lili pansi pa phirilo locheperapo ndi kuchuluka kwa ma tokeni omwe akufalitsidwa komanso kuchuluka kwamtsogolo:

Kuti muwongolere mawerengedwe awa, ndikwabwino kugwiritsa ntchito kuchuluka kwaposachedwa kwa malo osungirako, omwe ndi ofanana ndi dera lomwe lili pansi pa mapindikidwe ochepera poyambira komanso kuchuluka kwa ma tokeni:

Kuchokera apa mukhoza kufotokoza chiwerengero cha zizindikiro zomwe wothandizira adzalandira potumiza ndalama zodziwika mu ndalama yosungirako:

Ndalama zandalama zomwe zasungidwa pogulitsidwa zizindikiro, amawerengedwa mofanana:

Chitsanzo kukhazikitsa m'chinenero Kulimbitsa zitha kuwonedwa apa: https://github.com/relevant-community/bonding-curve/blob/master/contracts/BondingCurve.sol

Kukula kopitilira

Ngati cryptocurrency yosakhazikika imagwiritsidwa ntchito pogula zizindikiro, ndiye kuti ndalama zomwe zimasungidwa m'malo osungiramo anthu ambiri zitha kusinthasintha, zomwe zingakhudze magwiridwe antchito a makinawo (othandizira sangafune kupanga ndalama zanthawi yayitali chifukwa choopa kutsika kwa mtengo wosinthanitsa). Kuti mupewe ngozi zotere, mutha kugwiritsa ntchito cryptocurrency yokhazikika (mwachitsanzo, DAI) ngati ndalama yosungira.

Chizindikiro ndi chiwonetsero cha mtengo wina wamba kwa eni ake, ndipo chifukwa chake chitha kugwiritsidwa ntchito ngati gawo la njira zopezera ndalama, komanso pazolinga zofananira.

Mwachitsanzo, zizindikiro zitha kugwiritsidwa ntchito kuyang'anira polojekiti decentralized autonomous organisation (DAO). Kugawidwa kwa ndalama zomwe zimasonkhanitsidwa ndi polojekitiyi zikhoza kuchitika povotera njira zosiyanasiyana zomwe adayambitsa polojekitiyo kapena omwe akuthandizira okha. Ngati polojekitiyi ilibe gulu logwira ntchito lokhazikika, ndiye momwe angathere mphoto pakukhazikitsa ntchito zomwe anthu osakhalitsa adzapikisana nazo. Kutumiza mgwirizano wanzeru kwa bungwe lodziyimira pawokha lokhazikika pa blockchain yapagulu kudzatsimikizira kuwonekera kwa njira yopangira zisankho komanso kutseguka kwa zochitika zonse.

Kukhoza kugwiritsa ntchito chizindikiro kuti athe kutenga nawo mbali pa kayendetsedwe ka polojekiti kapena bungwe, kuphatikizapo mbiri yabwino, zimapereka mtengo weniweni ku chizindikirocho. Kwa zovuta kusintha msika njira zowonjezera zitha kuphatikizidwa. Mwachitsanzo, mgwirizano wanzeru ukhoza kuyimitsa zizindikiro (kuletsa kugulitsa kwawo) kwa kanthawi mutagula.

Dongosolo lomwe chizindikiro chilibe mtengo wake chikhoza kusinthidwa ndipo chikhoza kukhala piramidi yachuma.

Pomaliza

Chizindikiro chomangirira pamapindikira chingagwiritsidwe ntchito m'malo osiyanasiyana, koma kugwiritsa ntchito njira iyi pakubweza ndalama kumawoneka kosangalatsa kwambiri, popeza lingaliro lofunikira - kuthandizira polojekiti potumiza ndalama - silisintha, koma limaphatikizidwa ndi mwayi watsopano wotenga nawo mbali, kusunga chotchinga chotsika cholowera kwa ogwiritsa ntchito.

Mapulojekiti omwe amasonkhanitsa zopereka za Etere ku adiresi ya njerwa ndi matope lero m'malo mwake angagwiritse ntchito mgwirizano wanzeru womwe umagwiritsira ntchito chizindikiro cholumikizira chizindikiro ndikulandira malipiro kudzera mu izo. Othandizira adzakhala ndi mwayi wothandizira pulojekitiyo mwina kudzera muzochita zokhazikika (kusamutsa ndalama mwachindunji) kapena pogula zizindikiro, ndipo kachiwiri adzapindula ndi kutchuka kwa polojekitiyi.

Komabe, mphamvu ya njira iyi ya cryptoeconomic iyenera kuyesedwa. Pakadali pano, palibe zitsanzo zambiri zakugwiritsa ntchito kwenikweni ma curve omangirira pamapulogalamu okhazikitsidwa (imodzi mwama projekiti odziwika kwambiri ndi Bancor), ndipo kamangidwe ndi kakulidwe ka nsanja zopezera anthu anthu ambiri pogwiritsa ntchito makinawa akungoyamba kumene:

• Kupatsa - nsanja ya mabungwe othandizira. Posachedwapa anayamba kukhazikitsidwa kwachitsanzo chandalama chopitilira kutengera ma curve omangirira.
• Convergent - nsanja yoperekera "zizindikiro zaumwini" zolunjika kwa opanga zinthu.
• Njuchi / Pulogalamu ya Aragon Fundraising ndi ntchito yopezera ndalama yopangidwira mabungwe odziyimira pawokha Aragon.
• mapuloteni - ndondomeko yogwirizanitsa anthu pogwiritsa ntchito zizindikiro, zomwe zimaperekanso ntchito yomanga anthu ambiri.

Mfundo

[1] Palibe kumasulira kokhazikika kwa mawu oti "bonding curve" m'mabuku a chilankhulo cha Chirasha. Makinawa amathanso kutchedwa "kuyala kopindika". Izi zikutanthauza kuti otenga nawo mbali amaika ndalama mu mgwirizano wanzeru ngati chikole, ndipo pobwezera amalandira ma tokeni.

Source: www.habr.com