Clone Launches Public Mainnet, Introducing SUI to Solana’s Ecosystem for the First Time
Tortola, British Virgin Islands, February 29th, 2024, Chainwire
Clone, the groundbreaking open-source protocol for trading non-native tokens on the Solana blockchain, has announced the public mainnet launch of Clone Markets and Clone Liquidity. The launch, taking place on March 1st, will facilitate the introduction of highly liquid markets for non-native assets via Clone’s innovative “cloned assets” (clAssets), creating a more seamless, efficient and accessible trading environment for Solana users.
Clone’s vision is to make it easy for users to trade a wide range of non-native tokens on the Solana blockchain and take full advantage of its rapid transaction processing capabilities and low fees. Although it boasts one of the most active DeFi ecosystems, Solana lacks a reliable environment for spot trading, especially for non-native tokens based on other blockchains, as users are wary of providing liquidity to bridged asset trading pools.
Clone aims to solve this challenge by introducing non-native assets to Solana in the shape of its innovative clAssets, which are unique, cloned versions of existing on-chain assets, hosted on the Clone protocol. It is an innovative system for the trading of non-native tokens, where liquidity providers can take advantage of the unprecedented flexibility of Clone’s novel Comet Liquidity System and facilitate the seamless trading of clAssets with deep liquidity and low slippage.
The two user interfaces — Clone Markets and Clone Liquidity — each serve a distinct purpose within the Clone protocol. Clone Markets is the decentralized trading arena where users can buy and sell clAssets, while Clone Liquidity enables liquidity providers to access the novel and highly efficient Comet Liquidity System that supports leveraged, cross-margin liquidity pools with only USDC as collateral. With a single source of USDC collateral, LPs can provide liquidity to every Clone pool simultaneously. This unique structure, based on the concept of clAssets, makes Clone’s liquidity pools at least twice as capital efficient as any AMM competitor.
Together, Clone Markets and Clone Liquidity embody the very essence of Clone, which aims to blend the ideals of efficiency, inclusivity and usability to create an integrated platform with deep liquidity and low capital requirements. These innovations will enable Clone to scale quickly to a diverse range of non-native, on-chain assets within a single exchange.
Clone launched its private mainnet product on February 1st, with the first clAssets on Clone — clARB and clOP — which made Arbitrum and Optimism’s network tokens available to trade with deep liquidity on Solana for the first time. Not only will tomorrow’s launch make these clAssets available to the public, but Clone will also be listing a brand new token, cloned SUI (clSUI). The clSUI pool is the first ever market that allows Solana users to trade SUI tokens on Solana. Thanks to the extreme efficiency of the innovative Comet Liquidity System, Clone is able to create markets for new clAssets rapidly, meaning traders can take advantage of a much wider range of trading opportunities on Solana, enhancing its DeFi ecosystem and expanding its community.
One distinct advantage of Clone is that traders will be able to manage their entire portfolio within a single platform on the Solana blockchain, benefiting from faster, lower cost transactions. Meanwhile, liquidity providers will find opportunities to earn substantial yield via Clone. Ultimately, Clone will vastly increase token diversity on Solana and enable users to trade the tokens they’re 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 said in a statement.
Clone’s mainnet launch represents a pivotal milestone for the company, marking the beginning of a new era of scalable cloned asset trading with unprecedented deep liquidity on the Solana blockchain.
About Clone
Clone is harnessing the power of the high-speed, low-cost Solana blockchain to facilitate the trading of hyper-liquid cloned assets, powered by the Comet Liquidity Systems. It’s a groundbreaking new protocol that supports the seamless trading of non-native tokens on Solana, through clAssets such as clARB, clOP, and clSUI.
Clone’s clAssets are real tokens with tangible utility that can be traded freely with deep liquidity and low slippage. They will enable a more seamless, efficient, and accessible trading environment, paving the way for more accessible and inclusive DeFi markets on Solana.
