Clone officially launched its public mainnet on Solana
Wrapped cryptocurrency protocol Clone officially launched its public mainnet on March 1, introducing Clone Markets and Clone Liquidity, platforms aimed at providing highly liquid markets for non-monetary assets. original assets through “cloned assets” (clAssets). Built on the Solana blockchain, the move aims to provide a more streamlined and accessible trading experience for users.
The launch is an important step towards Clone's goal of simplifying the trading of a variety of non-native tokens on Solana, leveraging the blockchain's high-speed transactions and low transaction fees .
“With the mainnet launch of Clone on Solana, we not only enable trading of non-native tokens but also envision a future where Solana becomes a global trading platform. Our mission is to make any token tradable without leaving Solana, expanding the community and unleashing the true potential of blockchain,” said Evan Deutsch, co-founder of Clone.
Solana's decentralized finance (DeFi) ecosystem does not have a platform for spot trading of non-native tokens, and that is the gap that Clone seeks to fill with its clAssets. These are cloned versions of existing onchain assets, such as wrapped tokens, hosted on the Clone protocol, designed to provide liquidity providers and traders with high flexibility and efficiency. than.
Clone Markets operates as a decentralized exchange for buying and selling clAssets, while Clone Liquidity provides the new Comet Liquidity System for liquidity providers. The system supports leveraged, cross-margin liquidity pools with USD Coin (USDC) as sole collateral, providing excellent capital efficiency in providing liquidity.
The introduction of clAssets aims to improve capital efficiency in Clone's liquidity pools, promising at least twice the capital efficiency of traditional Automated Market Makers (AMMs). This approach is expected to facilitate rapid scaling to include a variety of non-native, onchain assets in a single exchange, improving liquidity and reducing capital requirements for users. use.
