PancakeSwap 和 Stryke 聯手在 Arbitrum 上進行突破性的 CLAMM 選擇權交易

PancakeSwap 與 Stryke 合作，在 Arbitrum 區塊鏈上推出 CLAMM 選擇權交易。此解決方案提供美式 CLAMM 選擇權，到期時間從 1 小時到 24 小時不等。交易者可以參與選擇權交易，建立流動性，賺取溢價和掉期費用。

PancakeSwap and Stryke Collaborate to Revolutionize Decentralized Finance with CLAMM Options Trading

PancakeSwap 和 Stryke 合作透過 CLAMM 選擇權交易徹底改變去中心化金融

In a significant advancement in the decentralized finance (DeFi) landscape, PancakeSwap, a renowned decentralized exchange platform, has joined forces with Stryke, formerly known as Dopex, to launch CLAMM Options Trading. This revolutionary project empowers traders with the ability to trade options, contribute to on-chain options liquidity, reap premium earnings, and generate swap fees.

著名的去中心化交易平台 PancakeSwap 與 Stryke（前身為 Dopex）聯手推出 CLAMM 選擇權交易，這是去中心化金融 (DeFi) 領域的重大進步。這個革命性的項目使交易者能夠交易選擇權，為鏈上選擇權流動性做出貢獻，獲得溢價收入並產生掉期費用。

Introducing American-Style CLAMM Options on Arbitrum Blockchain

在 Arbitrum 區塊鏈上引入美式 CLAMM 選擇權

This collaboration marks the debut of American-style CLAMM options on the Arbitrum blockchain. This cutting-edge solution offers unprecedented flexibility, with expiration durations ranging from a mere hour to as long as 24 hours. The initial markets will encompass ARB/USDC, WETH/USDC, and WBTC/USDC pairs, catering to the diverse needs of traders and investors.

此次合作標誌著美式 CLAMM 選擇權在 Arbitrum 區塊鏈上的首次亮相。這個尖端解決方案提供了前所未有的靈活性，有效期從僅僅一小時到長達 24 小時不等。初始市場將包括ARB/USDC、WETH/USDC和WBTC/USDC貨幣對，以滿足交易者和投資者的多樣化需求。

Understanding Options Contracts: Call and Put Options

了解選擇權合約：買權和賣權

Options contracts are financial instruments that grant buyers the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on or before a specific expiration date. Buyers acquire this privilege for a fee known as a premium, limiting their potential losses to the premium paid in scenarios where market conditions prove unfavorable.

選擇權合約是一種金融工具，賦予買方在特定到期日或之前以預定價格買賣標的資產的權利，但沒有義務。買家透過支付溢價獲得此特權，從而將他們的潛在損失限制在市場條件不利的情況下支付的溢價。

Option contracts fall into two primary categories: call options and put options. Call options empower buyers to purchase an asset at a specified strike price. Conversely, put options bestow upon buyers the ability to sell the asset at the strike price.

選擇權合約分為兩個主要類別：買權和賣權。買權使買家能夠以指定的執行價格購買資產。相反，看跌期權賦予買方以執行價格出售資產的能力。

The CLAMM Liquidity Process

CLAMM 流動性流程

PancakeSwap has meticulously outlined the CLAMM liquidity process, elucidating how liquidity is managed within the protocol. When users contribute liquidity to CLAMM options, they simultaneously partake in PancakeSwap's v3 (CLAMM) pool. This symbiotic relationship facilitates trading by enabling liquidity extraction from the v3 pool when options are purchased. The liquidity provider assumes the role of options seller and receives a premium.

PancakeSwap 精心概述了 CLAMM 流動性流程，闡明了協議內如何管理流動性。當用戶向 CLAMM 選擇權貢獻流動性時，他們同時參與 PancakeSwap 的 v3 (CLAMM) 池。這種共生關係透過在購買選擇權時從 v3 池中提取流動性來促進交易。流動性提供者承擔選擇權賣方的角色並收取溢價。

Unused liquidity remains within the PancakeSwap v3 pool, potentially generating trading fees if the pool price fluctuates within the stipulated range. Notably, selling options and providing v3 liquidity exhibit similar payoff structures, ensuring that users do not incur elevated risks compared to traditional liquidity addition methodologies. The balance of tokens or initial liquidity remains constant.

未使用的流動性仍保留在 PancakeSwap v3 池中，如果池價格在規定範圍內波動，則可能會產生交易費用。值得注意的是，出售選擇權和提供 v3 流動性表現出類似的回報結構，確保用戶與傳統的流動性添加方法相比不會承擔更高的風險。代幣餘額或初始流動性不變。

Risks are further mitigated by the possibility of unutilized liquidity in cases where options buying demand is insufficient or liquidity remains in inactive ranges without generating fees. Overall, this system efficiently governs liquidity allocation for seamless options trading.

在選擇權購買需求不足或流動性仍處於不活躍範圍而不產生費用的情況下，流動性可能未被利用，進一步降低了風險。總體而言，該系統有效管理無縫選擇權交易的流動性分配。

Benefits for PancakeSwap and Stryke Users

PancakeSwap 和 Stryke 用戶的好處

In a statement released by Stryke, the company highlighted the myriad benefits of the CLAMM Options Trading project for its user base. PancakeSwap users will gain direct access to the CLAMM product within a familiar interface. Moreover, existing Stryke users can enhance liquidity by designating PancakeSwap as the underlying DEX.

在 Stryke 發布的聲明中，該公司強調了 CLAMM 選擇權交易項目為其用戶群帶來的許多好處。 PancakeSwap 用戶將在熟悉的介面中直接存取 CLAMM 產品。此外，現有的Stryke用戶可以透過指定PancakeSwap作為底層DEX來增強流動性。

PancakeSwap's Version 4 on the Horizon

PancakeSwap 的版本 4 即將推出

This CLAMM Options Trading project follows the recent announcement by PancakeSwap regarding the upcoming release of its version 4, slated for later this year. The forthcoming version will incorporate features such as hooks, custom pool types, singleton, and flash accounting, significantly impacting on-chain trading. These enhancements aim to optimize cost-efficiency and streamline the trading experience for users.

這個 CLAMM 選擇權交易項目是在 PancakeSwap 最近宣布即將發布其版本 4（定於今年稍後）之後推出的。即將發布的版本將包含掛鉤、自訂池類型、單例和快閃記憶體會計等功能，對鏈上交易產生重大影響。這些增強功能旨在優化成本效率並簡化使用者的交易體驗。

Expanded Availability on Ethereum and BNB Chain

擴展以太坊和 BNB 鏈的可用性

The upcoming version of PancakeSwap will become available on both the Ethereum and BNB Chain networks in the third quarter, providing users with improved pricing of listed assets, reduced gas consumption, and lower deployment costs.

即將推出的 PancakeSwap 版本將於第三季在以太坊和 BNB Chain 網路上推出，為用戶提供改進的上市資產定價、減少 Gas 消耗並降低部署成本。

Conclusion

結論

The collaboration between PancakeSwap and Stryke marks a significant milestone in the evolution of DeFi. CLAMM Options Trading empowers traders with novel opportunities for profit generation and portfolio management. The introduction of American-style CLAMM options on the Arbitrum blockchain, coupled with the impending release of PancakeSwap's version 4, promises to revolutionize the decentralized finance sector, offering users enhanced flexibility, efficiency, and profitability.

PancakeSwap 和 Stryke 之間的合作標誌著 DeFi 發展的一個重要里程碑。 CLAMM 選擇權交易為交易者提供了創造利潤和投資組合管理的新機會。 Arbitrum 區塊鏈上引入美式 CLAMM 選擇權，加上即將發布的 PancakeSwap 第 4 版，預計將徹底改變去中心化金融領域，為用戶提供更高的靈活性、效率和獲利能力。