退化的以太坊第 2 层代币：Meme 币市场中的机器人智胜机器人

在以太坊的第 2 层平台 Base 上，出现了一种新形式的抢先交易，机器人通过模仿模因币交易者的行为来利用他们。恶意行为者可以轻松创建模因币，存入最低限度的流动性，然后等待启动机器人检测新币。启动机器人认为自己找到了一个有前途的机会，因此增加了流动性，允许领先者出售该产品并以自己为代价获利。这种策略被称为“领先者”，突显了零售交易者在面对加密代币产品的系统性利用时所面临的持续挑战。

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

以太坊第 2 层代币的堕落世界：以 Meme 代币交易者为目标的抢先交易机器人

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.

在快节奏且常常混乱的去中心化金融 (DeFi) 世界中，以太坊第 2 层代币上出现了一种新型的退化交易。这些交易者正在使用复杂的机器人来领先其他试图从模因币的波动中获利的机器人。

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.

模因币通常以其幽默或讽刺的名称和最小的内在价值为特征，作为一种投机资产类别在加密货币社区中广受欢迎。然而，这些代币最近的激增也吸引了寻求利用其固有波动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.

这些交易者采用的最流行的策略之一是抢先运行启动机器人，这是一种自动化程序，旨在检测和投资新推出的模因币。通过预测这些机器人的行为，领先者可以利用机器人提供的初始流动性来执行交易。

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（以前称为 Twitter）上的 meme 币交易商 GK 强调了这一策略的一个例子，他分享了一个机器人的屏幕截图，该机器人正在 Base（Coinbase 运营的第 2 层区块链）上的多个 meme 币上执行一系列相同的操作。该机器人会将少量流动性存入流动性池，等待启动机器人检测到其存在，然后出售其额外的流动性，从而有效地抢先交易。

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.

这种“领先者领先”的策略已被证明在 Base 上特别有效，因为它的操作快速且廉价，这使得创建省力的山寨币变得很容易。此外，Base 在模因币交易者中的受欢迎程度吸引了大量的启动机器人，为领先者提供了充足的目标。

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.

虽然 GK 强调的具体活动旨在为每个代币赚取约 0.2 ETH 的利润，但这种对加密代币产品的系统性利用有无数的变体。 Base 的运营商 Coinbase 将该平台推广为以太坊的低成本且对开发者友好的第 2 层解决方案，旨在将其转变为去中心化的生态系统。然而，该公司迄今为止一直优先考虑自己的产品，这引发了人们对 Base 权力下放的真实性质的担忧。

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.

与任何形式的退化交易一样，风险是巨大的。模因币市场高度波动且不可预测，抢先交易的机器人很容易出现错误或被操纵。此外，启动机器人的运营商最终可能会意识到自己处于领先地位，并相应地调整策略。

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.

尽管如此，这种新型交易的出现凸显了 DeFi 不断发展的格局，以及寻求从加密资产波动中获利的交易者的聪明才智。随着市场不断成熟，很可能会出现更复杂和退化的策略，进一步模糊投机和操纵之间的界限。