Layer2，Perp和Alt-L1攤牌：誰將贏得Defi Arena？

Layer2永久交換面臨來自Alt-L1的激烈競爭。專業設計和創新激勵措施可能是恢復主導地位的關鍵。

Layer2, Perp, and Alt-L1 Showdown: Who Will Win the DeFi Arena?

Layer2，Perp和Alt-L1攤牌：誰將贏得Defi Arena？

The Layer2 landscape is heating up, especially in the Perp (perpetual exchange) sector. But with Alt-L1s muscling in, who will ultimately dominate the DeFi arena? It's a battle of speed, innovation, and community.

Layer2景觀正在加熱，尤其是在Perp（永久交換）領域。但是，隨著Alt-L1的肌肉發達，誰最終將主導Defi競技場？這是一場速度，創新和社區之戰。

The Layer2 Perp Problem: A Need for Speed

第2層PERP問題：需要速度

Layer2 Perp projects like Lighter and GRVT are making waves, but they're playing catch-up to Alt-L1s like Astar ($ASTR). The core issue? General-purpose Layer2s, such as Arbitrum and Optimism, face inherent limitations in TPS (transactions per second) and block time. This is because transaction finality, state synchronization, and complex computational overhead can be slow. The user experience is therefore not as good as centralized exchanges, or certain Alt-L1's.

Layer2 Perp項目像Lighter和Grvt一樣浪潮，但他們正在追趕Astar（$ ASTR）之類的Alt-L1。核心問題？通用層2（例如仲裁和樂觀）面臨TPS（每秒交易）和阻塞時間的固有局限性。這是因為交易終結，狀態同步和復雜的計算開銷可能會很慢。因此，用戶體驗不如集中式交流或某些Alt-L1。

Specialization is the Name of the Game

專業是遊戲的名稱

Lighter's approach offers a glimpse of a solution. By ditching the pursuit of universalization and focusing on specialized trading optimizations—like ZK circuits and order book matching—it has achieved trading volumes comparable to faster platforms. For Layer2 Perps to regain their footing, embracing specialization is crucial.

Bighter的方法可以瞥見解決方案。通過放棄對普遍化的追求，並專注於專業交易優化（例如ZK電路和訂單簿匹配），它的交易量與更快的平台相當。對於Layer2 Perps以重新獲得立足點，擁抱專業是至關重要的。

The CLOB Comeback

Clob復出

Many Layer2 Perps are stuck with outdated AMM (Automated Market Maker) logic or hybrid orderbook designs. GMX's experience has shown the limits of AMMs, as impermanent loss, MEV attacks, and slippage deter large institutional funds and high-frequency trading. A full-chain CLOB (Central Limit Order Book) architecture, like the one used by Hyperliquid, seems to be the way forward. Incremental improvements simply won't cut it.

許多Layer2 PERP被過時的AMM（自動推銷商）邏輯或混合訂單設計。 GMX的經驗表明，AMM的局限性，因為無常損失，MEV攻擊和打滑，阻止了大型機構基金和高頻交易。像Hyplyliquid使用的完整鏈（中央限制訂單）體系結構似乎是前進的道路。增量改進根本不會削減它。

Beyond Mining: The Power of Community and Gameplay

超越採礦：社區和遊戲的力量

The old DeFi mining incentives have lost their luster. Newer Perp players are prioritizing diverse gameplay, MEME culture, point airdrops, and token buybacks. Layer2 liquidity is also fragmented, leading to costly cross-chain bridging for users. Focusing on user experience and community building is essential.

古老的Defi採礦激勵措施失去了光澤。較新的PERP玩家正在優先考慮多樣化的遊戲玩法，模因文化，點氣盤和代幣回購。第2層流動性也被分散，導致用戶昂貴的跨鏈橋接。專注於用戶體驗和社區建設至關重要。

Layer2 Still Has a Chance

Layer2仍然有機會

Despite the challenges, Layer2 Perps aren't giving up. Projects like SynFutures, Orderly Network, and Paradex are actively building. GRVT's recent $19 million funding round shows that investors still believe in the potential of Layer2. The Ethereum ecosystem's massive stablecoin and DeFi TVL (Total Value Locked) provide a significant advantage that Alt-L1s can't easily replicate.

儘管面臨挑戰，但第2層PERP並未放棄。諸如Synfutures，有序網絡和Paradex之類的項目正在積極構建。 GRVT最近的1900萬美元資金回合表明，投資者仍然相信Layer2的潛力。以太坊生態系統的龐大穩定性和Defi TVL（總價值鎖定）提供了一個很大的優勢，即Alt-L1s無法輕易複製。

The Market Overview

市場概述

On August 29th, the Layer 2 sector experienced a 3.03% increase, driven by positive macroeconomic factors. Mantle (MNT) and ex-MATIC (POL) saw notable gains of 5.20% and 7.21%, respectively. This indicates growing investor confidence in Layer 2 solutions. The crypto sector index showed that ssiLayer2 indices rose by 3.10%.

8月29日，由宏觀經濟因素驅動，第2層行業增加了3.03％。地幔（MNT）和前馬力（POL）的顯著增長分別為5.20％和7.21％。這表明投資者對第2層解決方案的信心不斷增加。加密部門指數顯示Ssilayer2指數上升了3.10％。

Final Thoughts

最後的想法

The race is on! Can Layer2 Perps adapt, innovate, and reclaim their dominance? Or will Alt-L1s continue to steal the show? It's a thrilling time to be in DeFi, so buckle up and enjoy the ride!

比賽開始了！ Layer2 Perps可以適應，創新和恢復其主導地位嗎？還是Alt-L1繼續竊取演出？這是一個令人興奮的時刻，所以要搭扣並享受旅程！