PancakeSwap 和 Stryke 联手在 Arbitrum 上进行突破性的 CLAMM 期权交易

PancakeSwap 与 Stryke 合作，在 Arbitrum 区块链上推出 CLAMM 期权交易。该解决方案提供美式 CLAMM 期权，到期时间从 1 小时到 24 小时不等。交易者可以参与期权交易，建立流动性，赚取溢价和掉期费用。

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

PancakeSwap 和 Stryke 合作通过 CLAMM 期权交易彻底改变去中心化金融

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 与 Stryke（前身为 Dopex）联手推出 CLAMM 期权交易，这是去中心化金融 (DeFi) 领域的重大进步。这个革命性的项目使交易者能够交易期权，为链上期权流动性做出贡献，获得溢价收入并产生掉期费用。

Introducing American-Style CLAMM Options on Arbitrum Blockchain

在 Arbitrum 区块链上引入美式 CLAMM 期权

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.

此次合作标志着美式 CLAMM 期权在 Arbitrum 区块链上的首次亮相。这一尖端解决方案提供了前所未有的灵活性，有效期从仅仅一小时到长达 24 小时不等。初始市场将包括ARB/USDC、WETH/USDC和WBTC/USDC货币对，以满足交易者和投资者的多样化需求。

Understanding Options Contracts: Call and Put Options

了解期权合约：看涨期权和看跌期权

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.

期权合约是一种金融工具，赋予买方在特定到期日或之前以预定价格买卖标的资产的权利，但没有义务。买家通过支付溢价获得此特权，从而将他们的潜在损失限制在市场条件不利的情况下支付的溢价。

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.

期权合约分为两个主要类别：看涨期权和看跌期权。看涨期权使买家能够以指定的执行价格购买资产。相反，看跌期权赋予买方以执行价格出售资产的能力。

The CLAMM Liquidity Process

CLAMM 流动性流程

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 流动性流程，阐明了协议内如何管理流动性。当用户向 CLAMM 期权贡献流动性时，他们同时参与 PancakeSwap 的 v3 (CLAMM) 池。这种共生关系通过在购买期权时从 v3 池中提取流动性来促进交易。流动性提供者承担期权卖方的角色并收取​​溢价。

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.

未使用的流动性仍保留在 PancakeSwap v3 池中，如果池价格在规定范围内波动，则可能会产生交易费用。值得注意的是，出售期权和提供 v3 流动性表现出类似的回报结构，确保用户与传统的流动性添加方法相比不会承担更高的风险。代币余额或初始流动性保持不变。

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.

在期权购买需求不足或流动性仍处于不活跃范围而不产生费用的情况下，流动性可能未得到利用，从而进一步降低了风险。总体而言，该系统有效地管理无缝期权交易的流动性分配。

Benefits for PancakeSwap and Stryke Users

PancakeSwap 和 Stryke 用户的好处

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 发布的一份声明中，该公司强调了 CLAMM 期权交易项目为其用户群带来的诸多好处。 PancakeSwap 用户将在熟悉的界面中直接访问 CLAMM 产品。此外，现有的Stryke用户可以通过指定PancakeSwap作为底层DEX来增强流动性。

PancakeSwap's Version 4 on the Horizon

PancakeSwap 的版本 4 即将推出

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.

这个 CLAMM 期权交易项目是在 PancakeSwap 最近宣布即将发布其版本 4（定于今年晚些时候）之后推出的。即将发布的版本将包含挂钩、自定义池类型、单例和闪存会计等功能，对链上交易产生重大影响。这些增强功能旨在优化成本效率并简化用户的交易体验。

Expanded Availability on Ethereum and BNB Chain

扩展以太坊和 BNB 链的可用性

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.

即将推出的 PancakeSwap 版本将于第三季度在以太坊和 BNB Chain 网络上推出，为用户提供改进的上市资产定价、减少 Gas 消耗并降低部署成本。

Conclusion

结论

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 之间的合作标志着 DeFi 发展的一个重要里程碑。 CLAMM 期权交易为交易者提供了创造利润和投资组合管理的新机会。 Arbitrum 区块链上引入美式 CLAMM 期权，加上即将发布的 PancakeSwap 第 4 版，有望彻底改变去中心化金融领域，为用户提供更高的灵活性、效率和盈利能力。