退化的以太坊第 2 層代幣：Meme 幣市場中的機器人智勝機器人

在以太坊的第 2 層平台 Base 上，出現了一種新形式的搶先交易，機器人透過模仿迷因幣交易者的行為來利用他們。惡意行為者可以輕鬆創建模因幣，存入最低限度的流動性，然後等待啟動機器人檢測新幣。啟動機器人認為自己找到了一個有前途的機會，因此增加了流動性，允許領先者出售產品並以自己為代價獲利。這種策略被稱為“領先者”，突顯了零售交易者在面對加密代幣產品的系統性利用時所面臨的持續挑戰。

The Degenerate World of Ethereum Layer 2 Tokens: Bots Front-Running Bots to Target Meme Coin Traders

以太坊第 2 層代幣的墮落世界：以 Meme 代幣交易者為目標的搶先交易機器人

In the fast-paced and often chaotic world of decentralized finance (DeFi), a new breed of degenerate trading has emerged on Ethereum layer 2 tokens. These traders are using sophisticated bots to front-run other bots that are attempting to profit from the volatility of meme coins.

在快節奏且常常混亂的去中心化金融 (DeFi) 世界中，以太坊第 2 層代幣上出現了一種新型的退化交易。這些交易者正在使用複雜的機器人來領先其他試圖從迷因幣的波動中獲利的機器人。

Meme coins, often characterized by their humorous or ironic names and minimal intrinsic value, have gained popularity in the crypto community as a speculative asset class. However, the recent proliferation of these coins has also attracted the attention of sophisticated traders seeking to exploit their inherent volatility.

模因幣通常以其幽默或諷刺的名稱和最小的內在價值為特徵，作為投機資產類別在加密貨幣社區中廣受歡迎。然而，這些代幣最近的激增也吸引了尋求利用其固有波動性的成熟交易者的注意。

One of the most prevalent strategies employed by these traders involves front-running launch bots, which are automated programs designed to detect and invest in newly launched meme coins. By anticipating the actions of these bots, the front-runners can execute trades that capitalize on the initial liquidity provided by the bots.

這些交易者採用的最受歡迎的策略之一是搶先運行啟動機器人，這是一種自動化程序，旨在檢測和投資新推出的迷因幣。透過預測這些機器人的行為，領先者可以利用機器人提供的初始流動性來執行交易。

A recent example of this strategy was highlighted by meme coin trader GK on X (formerly Twitter), who shared screenshots of a bot that was executing a series of identical actions across multiple meme coins on Base, a Coinbase-operated layer 2 blockchain. The bot would deposit a small amount of liquidity into a liquidity pool, wait for launch bots to detect its presence, and then sell into their additional liquidity, effectively front-running their attempts to front-run.

最近，X（以前稱為Twitter）上的meme 幣交易商GK 強調了這一策略的一個例子，他分享了一個機器人的螢幕截圖，該機器人正在Base（Coinbase 運營的第2 層區塊鏈）上的多個meme 幣上執行一系列相同的操作。該機器人會將少量流動性存入流動性池，等待啟動機器人檢測到其存在，然後出售其額外的流動性，從而有效地搶先交易。

This "front-run the front-runners" strategy has proven to be particularly effective on Base due to its fast and cheap operation, which makes it easy to create low-effort altcoins. Additionally, Base's popularity among meme coin traders has attracted a large number of launch bots, providing ample targets for the front-runners.

這種「領先者領先」的策略已被證明在 Base 上特別有效，因為它的操作快速且廉價，這使得創建省力的山寨幣變得容易。此外，Base 在迷因幣交易者中的受歡迎程度吸引了大量的啟動機器人，為領先者提供了充足的目標。

While the specific campaign highlighted by GK aimed to profit approximately 0.2 ETH per token, there are countless variations of this systematic exploitation of crypto token offerings. Coinbase, the operator of Base, promotes the platform as a low-cost and developer-friendly layer 2 solution for Ethereum, aiming to turn it into a decentralized ecosystem. However, the company has prioritized its own products to date, raising concerns about the true nature of Base's decentralization.

雖然 GK 強調的具體活動旨在為每個代幣賺取約 0.2 ETH 的利潤，但這種對加密代幣產品的系統性利用有無數的變體。 Base 的營運商 Coinbase 將該平台推廣為以太坊的低成本且對開發者友好的第 2 層解決方案，旨在將其轉變為去中心化的生態系統。然而，該公司迄今為止一直優先考慮自己的產品，這引發了人們對 Base 權力下放的真實性質的擔憂。

As with any form of degenerate trading, the risks are substantial. The meme coin market is highly volatile and unpredictable, and the front-running bots can be prone to errors or manipulation. Additionally, the operators of launch bots may eventually realize that they are being front-run and adjust their strategies accordingly.

與任何形式的退化交易一樣，風險是巨大的。迷因幣市場高度波動且不可預測，搶先交易的機器人很容易出現錯誤或被操縱。此外，啟動機器人的營運商最終可能會意識到自己處於領先地位，並相應地調整策略。

Nevertheless, the emergence of this new type of trading highlights the ever-evolving landscape of DeFi and the ingenuity of traders seeking to profit from the volatility of crypto assets. As the market continues to mature, it is likely that more sophisticated and degenerate strategies will emerge, further blurring the lines between speculation and manipulation.

儘管如此，這種新型交易的出現凸顯了 DeFi 不斷發展的格局，以及尋求從加密資產波動中獲利的交易者的聰明才智。隨著市場不斷成熟，很可能會出現更複雜和退化的策略，進一步模糊投機和操縱之間的界線。