トークンの流動性リスクと Bancor Protocol

Transcript

1. τʔΫϯͷྲྀಈੑϦεΫͱ Bancor Protocol Akinori Machino 2017.10.12@BlockChips #3
2. • ౦ژେֶ෺ཧֶՊଔۀɾಉେֶӃதୀ • ిࢠॻ੶෼໺Ͱͷىۀ • SmatNews ॳظϝϯόʔ • ࣗಈӡసλΫγʔʗࣗಈӡసόε • ݱࡏ͸ݸਓͰ׆ಈத @amachino Akinori Machino ܦྺ • ҉߸௨՟ʗϒϩοΫνΣʔϯ • EthereumʗεϚʔτίϯτϥΫτ • ICO ͷ݈શԽʗඪ४Խ • τʔΫϯΤίϊϛʔͷઃܭ ࠷ۙͷڵຯͱ׆ಈ
3. ࠓ೔͓࿩͍ͨ͜͠ͱ
4. ҉߸௨՟ / ICO ͷ๊͑ΔϦεΫ
5. ϦεΫͱ͍ͬͯ΋৭ʑ͋Δ όϒϧԽ ๏ن੍ ϋοΩϯά ෼྾໰୊ ՝੫ ౤ࢿ࠮ٗ ࢿܾۚࡁ๏ ICO΍Γಀ͛ ICOېࢭྩ SEC ༗Ձূ݊ੑ લ෷ࣜࢧ෷खஈ Ծ૝௨՟๏ ίΞ vs ϚΠφʔ ങ͍ἤΓ The DAO ࣄ݅ FOMO ηΩϡϦςΟ ϓϥΠόγʔ ϋογϡύϫʔՉ઎ ٕज़ऀෆ଍ ച্ܭ্ PoW vs PoS εέʔϥϏϦςΟ໰୊ தࠃ౰ہ ա৒ظ଴ ࡶॴಘ Mt.GOX ࣄ݅ ϚωʔϩϯμϦϯά ๺ே઱ ϏοάϒϩοΫ vs ϨΠϠʔ̎ ϘϥςΟϦςΟ ಺ࡏՁ஋ Χ΢ϯλʔύʔςΟʔϦεΫ ΠϯαΠμʔ
6. ϦεΫͱ͍ͬͯ΋৭ʑ͋Δ όϒϧԽ ๏ن੍ ϋοΩϯά ෼྾໰୊ ՝੫ ౤ࢿ࠮ٗ ࢿܾۚࡁ๏ ICO΍Γಀ͛ ICOېࢭྩ SEC ༗Ձূ݊ੑ લ෷ࣜࢧ෷खஈ Ծ૝௨՟๏ ίΞ vs ϚΠφʔ ങ͍ἤΓ The Dao ࣄ݅ FOMO ηΩϡϦςΟ ϓϥΠόγʔ ϋογϡύϫʔՉ઎ ٕज़ऀෆ଍ ച্ܭ্ PoW vs PoS εέʔϥϏϦςΟ໰୊ தࠃ౰ہ ա৒ظ଴ ࡶॴಘ Mt.GOX ࣄ݅ ϚωʔϩϯμϦϯά ๺ே઱ ϏοάϒϩοΫ vs ϨΠϠʔ̎ ϘϥςΟϦςΟ ಺ࡏՁ஋ Χ΢ϯλʔύʔςΟʔϦεΫ ΠϯαΠμʔ ࿩͠·ͤΜ
7. ྲྀಈੑϦεΫ τʔΫϯཚཱʹΑΔ
8. ྲྀಈੑϦεΫʁ
9. ྲྀಈੑͱ͸ “Ϟϊͷ׵ۚͷ͠΍͢͞”
10. ྲྀಈੑϦεΫͱ͸ “ചΓ͍ͨ࣌ʹചΕͳ͍͜ͱ”
11. ྫʣBTC → JPY ͷྲྀಈੑ
13. { { ചΓ͍ͨਓ ങ͍͍ͨਓ
14. ങ͍͍ͨਓ͕͍Δ͔ΒചΕΔʢަ׵Ͱ͖Δʣ
15. τʔΫϯ͕ཚཱ͢ΔͱͲ͏ͳΔ͔
16. ϝδϟʔͳτʔΫϯҎ֎͸औҾྔ͕গͳ͘ͳΔ ചΓ͍ͨ࣌ʹങ͍ख͕ݟ͔ͭΒͳ͍ ࢿ࢈͕Ԙ௮͚ʹͳΔ
17. ྲྀಈੑϦεΫ τʔΫϯཚཱʹΑΔ
18. ͦΕΛղܾ͢Δʢ͔΋͠Εͳ͍ʣͷ͕
20. • Bancor ͷಡΈํ͸ʮόϯίʔϧʯ • ܦࡁֶऀέΠϯζ͕ఏএͨ͠ੈք௨՟ʹͪͳΜ໊ͩশ • 2017೥6݄ʹ ICOʢ$150MΛௐୡʣ • Ethereum ϕʔεͷϓϩδΣΫτ • “εϚʔττʔΫϯ” Λൃߦ͢ΔͨΊͷϓϩτίϧ • ϓϩτίϧͰ͋ͬͯτʔΫϯͰ͸ͳ͍ • ެࣜͷεϚʔττʔΫϯͱͯ͠ BNT Λൃߦ • Bancor Protocol ͸ BNT ͕ͳͯ͘΋੒ཱ͢Δ • εϚʔττʔΫϯʹ͸ྲྀಈੑϦεΫ͕ͳ͍
21. εϚʔττʔΫϯʹ͸ྲྀಈੑϦεΫ͕ͳ͍ʂ
22. ͳͥͦΜͳ͜ͱ͕Ͱ͖Δͷ͔ʁ
23. https://www.bancor.network/
24. Θ͔Γʹ͍͘
25. Bancor Protocol ͷجຊతͳߟ͑ํ ਓରਓͰަ׵͢Δ͔ΒྲྀಈੑϦεΫ͕ੜ͡Δ ൃߦମʹҾ͖औͬͯ΋Β͑͹͍͍ͷͰ͸ʁ
26. ަ׵ʹԠ͑ΔͨΊʹ͸४උ͕ۚඞཁ ʘԁΛυϧʹସ͍͑ͯͩ͘͞ʗ ൃߦମ͕Ұఆྔ༻ҙ͍ͯͨ͠֎՟Λ࢖ͬͯަ׵ʹԠ͡Δ
27. օ͕Ұ੪ʹചΓ͍ͨͱࢥͬͨΒഁ୼ͯ͠͠·͏ ४උۚʹ͸ރׇϦεΫ͕͋Δ ʘԁΛυϧʹସ͍͑ͯͩ͘͞ʗ ʘ ԁ Λ υ ϧ ʹ ସ ͑ ͯ ͘ ͩ ͞ ͍ ʗ ʘԁΛυϧʹସ͍͑ͯͩ͘͞ʗ ʘԁΛυϧʹସ͍͑ͯͩ͘͞ʗ ʘ ԁ Λ υ ϧ ʹ ସ ͑ ͯ ͘ ͩ ͞ ͍ ʗ υϧ͕ͳ͘ͳΔ… ʘԁΛυϧʹସ͍͑ͯͩ͘͞ʗ
28. Ͳ͏͢Ε͹͍͍͔
29. ʮ४උ͕ۚރׇ͠ͳ͍Α͏ʹՁ֨ͱൃߦྔΛಈతʹมԽͤ͞Ε͹Α͍ʯ
30. White Paper p5
34. ൃߦͨ͠εϚʔττʔΫϯͷ࣌Ձ૯ֹͷ20%෼ͷETHΛ४උ͓ͯ͘͠ ྫʣETH Λ४උۚͱͯ͠ CRR = 0.2 ͷ STKN Λൃߦ STKN ETH STKN ͷ࣌Ձ૯ֹ = Ձ֨ × ൃߦྔ
35. ४උۚΛ 1,000 ETH ༻ҙͯ͠ɺ2,000 STKN ൃߦͨ͠Βɺ1 STKN ͷՁ֨͸ 2.5 ETH ྫʣETH Λ४උۚͱͯ͠ CRR = 0.2 ͷ STKN Λൃߦ STKN ETH 5,000 ETH = Ձ֨ × 2,000 STKN Ձ֨ = 5,000 ÷ 2,000 = 2.5 1,000 ETH
36. Bancor Protocol ͷ৚݅ࣜ ม਺ ม਺ ม਺ ఆ਺ ४උ཰ΛৗʹҰఆʹอͭΑ͏ʹՁ֨ɾൃߦྔɾ४උߴΛมಈͤ͞Δ
37. ചങ͢Δ౓ʹ૯ൃߦྔ͕૿ݮ͢Δ
38. STKN ͷߪೖ୅ۚ (ETH) ͸४උۚʹՃࢉ͞ΕΔ ETH STKN ETH STKN ߪೖ͞Εͨ෼ͷ STKN ͸৽نൃߦ͞ΕΔ ൃߦྔ
    61
    Ձ֨
    61
39. STKN ͷച٫୅ۚ (ETH) ͸४උ͔ۚΒࢧ෷ΘΕΔ ETH STKN ETH STKN ച٫͞Εͨ෼ͷ STKN ͸ഇغॲ෼͞ΕΔ ൃߦྔ
    %08/
    Ձ֨
    %08/
40. εϚʔτίϯτϥΫτʹΑΔࣗಈࣥߦ https://github.com/bancorprotocol/
41. ചങʹऔҾ૬ख͸ඞཁͳ͍ ͍ͭͰ΋ɺചΓ͍͚ͨͩചΕɺങ͍͍͚ͨͩങ͑Δ εϚʔτίϯτϥΫτ
42. धཁʹΑΓՁ֨มಈ͢Δͷ͸ैདྷ௨Γ
43. ·ͱΊ • Bancor Protocol ʹΑͬͯɺྲྀಈੑϦεΫͷͳ͍ʮεϚʔττʔΫϯʯ ΛൃߦͰ͖Δ • εϚʔττʔΫϯ͸ɺ४උ཰ (CRR) ͕ৗʹҰఆʹͳΔΑ͏ʹՁ֨ͱൃߦ ྔ͕ࣗಈௐ੔͞ΕΔ • εϚʔττʔΫϯ͸ɺߪೖ͞ΕΔ౓ʹ৽نൃߦ͞Εɺച٫͞ΕΔ౓ʹഇغ ॲ෼͞ΕΔ • εϚʔττʔΫϯ͸ɺߪೖྔ͕ച٫ྔΛ্ճΔͱՁ্͕͕͍͖֨ͬͯɺԼ ճΔͱՁ͕֨Լ͕͍ͬͯ͘ • ४උۚͷ؅ཧ΍Ձ֨ɾൃߦྔௐ੔͸ɺEthereum ϒϩοΫνΣʔϯ্ͷ εϚʔτίϯτϥΫτͰߦΘΕΔ
44. ΑΓৄ͘͠஌Γ͍ͨํ΁
45. ิ଍ࢿྉ
46. Bancor Protocol ͷՁܾ֨ఆํఔࣜ T: τʔΫϯߪೖྔɺE: ࢧ෷ֹۚɺS: τʔΫϯ૯ൃߦྔɺR: ४උۚ࢒ߴɺF: ݻఆ४උ཰
48. Double Coincidence of Wants
49. Token Changer & Token Basket