Layer2，Perp和Alt-L1摊牌：谁将赢得Defi Arena？

Layer2永久交换面临来自Alt-L1的激烈竞争。专业设计和创新激励措施可能是恢复主导地位的关键。

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

Layer2，Perp和Alt-L1摊牌：谁将赢得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景观正在加热，尤其是在Perp（永久交换）领域。但是，随着Alt-L1的肌肉发达，谁最终将主导Defi竞技场？这是一场速度，创新和社区之战。

The Layer2 Perp Problem: A Need for Speed

第2层PERP问题：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项目像Lighter和Grvt一样浪潮，但他们正在追赶Astar（$ ASTR）之类的Alt-L1。核心问题？通用层2（例如仲裁和乐观）面临TPS（每秒交易）和阻塞时间的固有局限性。这是因为交易终结，状态同步和复杂的计算开销可能会很慢。因此，用户体验不如集中式交流或某些Alt-L1。

Specialization is the Name of the Game

专业是游戏的名称

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的方法可以瞥见解决方案。通过放弃对普遍化的追求，并专注于专业交易优化（例如ZK电路和订单簿匹配），它的交易量与更快的平台相当。对于Layer2 Perps以重新获得立足点，拥抱专业是至关重要的。

The CLOB Comeback

Clob复出

Many Layer2 Perps are stuck with outdated AMM (Automated Market Maker) logic or hybrid orderbook designs.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.

许多Layer2 PERP被过时的AMM（自动推销商）逻辑或混合订单设计。 GMX的经验表明，AMM的局限性，因为无常损失，MEV攻击和打滑，阻止了大型机构基金和高频交易。像Hyplyliquid使用的完整链（中央限制订单）体系结构似乎是前进的道路。增量改进根本不会削减它。

Beyond Mining: The Power of Community and Gameplay

超越采矿：社区和游戏的力量

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采矿激励措施失去了光泽。较新的PERP玩家正在优先考虑多样化的游戏玩法，模因文化，点气盘和代币回购。第2层流动性也被分散，导致用户昂贵的跨链桥接。专注于用户体验和社区建设至关重要。

Layer2 Still Has a Chance

Layer2仍然有机会

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.

尽管面临挑战，但第2层PERP并未放弃。诸如Synfutures，有序网络和Paradex之类的项目正在积极构建。 GRVT最近的1900万美元资金回合表明，投资者仍然相信Layer2的潜力。以太坊生态系统的庞大稳定性和Defi TVL（总价值锁定）提供了一个很大的优势，即Alt-L1s无法轻易复制。

The Market Overview

市场概述

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，由宏观经济因素驱动，第2层行业增加了3.03％。地幔（MNT）和前马力（POL）的显着增长分别为5.20％和7.21％。这表明投资者对第2层解决方案的信心不断增加。加密部门指数显示Ssilayer2指数上升了3.10％。

Final Thoughts

最后的想法

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!

比赛开始了！ Layer2 Perps可以适应，创新和恢复其主导地位吗？还是Alt-L1继续窃取演出？这是一个令人兴奋的时刻，所以要搭扣并享受旅程！