Tortola, British Virgin Islands – February 29, 2024
Clone, the trailblazing open-source protocol designed for trading non-native tokens on the solana blockchain, has announced that it will be launching its public mainnet of Clone Markets and Clone Liquidity on March 1, 2024. This groundbreaking event will introduce highly liquid markets for non-native assets via Clone’s innovative “cloned assets” (clAssets), creating a more streamlined, efficient, and inclusive trading environment for solana users.
Clone’s objective is to simplify the process of trading a diverse range of non-native tokens on the solana blockchain and maximize the potential benefits offered by its swift transaction processing capabilities and low fees. Although solana boasts a vibrant DeFi ecosystem, it currently lacks an effective platform for spot trading, particularly for non-native tokens originating from other blockchains. Users are hesitant to provide liquidity to bridged asset trading pools due to concerns over the reliability of these assets.
Clone plans to address this challenge by introducing non-native assets to solana in the form of its unique clAssets. These cloned versions of existing on-chain assets, hosted within the Clone protocol, represent an innovative approach to trading non-native tokens where liquidity providers can leverage the unparalleled adaptability of Clone’s novel Comet Liquidity System. This system enables seamless trading of clAssets with substantial liquidity and low slippage.
Clone Markets and Clone Liquidity each serve distinct roles within the Clone ecosystem. Clone Markets functions as the decentralized trading platform where users can buy and sell clAssets, while Clone Liquidity empowers liquidity providers to tap into the innovative Comet Liquidity System. This system supports leveraged, cross-margin liquidity pools with USDC collateral only, enabling LPs to provide liquidity to every Clone pool concurrently. This unique system design, based on the clAssets concept, makes Clone’s liquidity pools at least twice as capital efficient compared to any Automated Market maker (AMM) competitor.
Together, Clone Markets and Clone Liquidity encapsulate the core values of Clone: efficiency, inclusivity, and usability. These advancements will enable Clone to scale quickly to accommodate a diverse array of non-native, on-chain assets within a unified exchange.
Clone launched its private mainnet product on February 1, 2024, with the first clAssets – clARB and clOP – becoming available for trading. The launch on March 1 will make these clAssets accessible to the public, while also introducing a new token, cloned SUI (clSUI), which will mark the first solana market for traders to trade SUI tokens on the platform. The extreme efficiency of Clone’s innovative Comet Liquidity System enables the creation of new clAsset markets rapidly, expanding traders’ opportunities and enhancing solana’s DeFi ecosystem.
One significant advantage of Clone is that users can manage their entire portfolio within a single platform on the solana blockchain, benefiting from faster, more cost-effective transactions. Meanwhile, liquidity providers can earn substantial yields via Clone, ultimately expanding token diversity on solana and enabling users to trade the tokens they are most familiar with.
“With Clone’s mainnet launch on solana, we’re not just enabling trading of non-native tokens; we’re envisioning a future where solana becomes a universal trading platform. Our mission is to make any token tradable without leaving solana, expanding our community and unlocking the blockchain’s true potential,” Evan Deutsch, Co-Inventor of Clone, stated. “Clone’s mainnet launch represents a significant milestone for our company, marking the beginning of an era of scalable cloned asset trading with unprecedented deep liquidity on the solana blockchain.”
About Clone
Clone is a revolutionary new protocol harnessing the power of the high-speed, low-cost solana blockchain to facilitate the trading of hyper-liquid cloned assets through its Comet Liquidity Systems. Clone supports the seamless trading of non-native tokens on solana via clAssets such as clARB, clOP, and clSUI.
Clone’s clAssets represent real tokens with tangible utility that can be traded freely with deep liquidity and low slippage. They will pave the way for more accessible and inclusive DeFi markets on solana, enabling a more efficient, streamlined trading environment.
