Clone Protocol Application for LFG Launchpad



GM Jupiter DAO Community Members!

We’re thrilled to introduce Clone Protocol to you through our application for the LFG Launchpad. Clone is not just another DEX, it’s a platform designed to revolutionize how non-native token liquidity is introduced to Solana using cloned assets. Our mission is to make Solana a universal blockchain where anyone can trade any token!

What is Clone Protocol?
We recently had our private mainnet launch on February 1st, bringing the first ever liquid trading pools for Aribtrum and Optimism to Solana through cloned Arbitrum (clARB) and cloned Optimism (clOP). The introduction of clARB and clOP as the first cloned assets, or clAssets, on Solana marks the beginning of our journey. Our novel Comet Liquidity System enables us to introduce liquid markets for non-native tokens to Solana with unprecedented speed and capital efficiency.

Clone Markets is your one-stop-shop for cloned asset trading.

markets

Clone Liquidity is the home of the Comet Liquidity System and the best place to earn yield by contributing liquidity to cloned asset pools

liquidit

Our Vision
Lead by myself (https://twitter.com/0xmark_clone) and my fellow core-contributor Ku (https://twitter.com/builderku), Clone Protocol was born from a grand vision to unlock Solana’s potential as THE universal blockchain. We aim to make Solana the go-to choice for trading any token — faster, cheaper, and more efficiently than any other decentralized option. This vision drives us each day, and we’re eager for the Jupiter community to join us on this journey.


Strategic Partnerships and Collaborative Efforts
Our commitment to Solana’s growth is also reflected in our active collaboration with numerous teams across the ecosystem. We are currently in talks with Jupiter to integrate Clone into Jupiter Swap. This would not only make clAsset trading more dynamic and flexible but will also broaden the spectrum of assets available for trading via Jupiter. Additionally, we’re leveraging Pyth oracle feeds to ensure clAssets are priced accurately and securely. Clone recently received a grant from the Pyth Retrospective Airdrop, a testament to our hard work in using Pyth’s oracle feeds to expand token offerings on Solana. We’re working with bridging solutions like deBridge and Wormhole to introduce arbitrage opportunities for repegging the prices of clAssets. We are also in the process of establishing a Solend pool for the borrowing and lending of clAssets, and have plans to work with Marginfi as well. We’re developing a one-click strategy for profiting through funding rates on perpetual protocols like Drift or Zeta, and establishing the opposite position on Clone using clAssets. We raised our seed round in 2022, with a list of incredible partners including Republic Capital, Big Brain Holdings, and GSR. Clone Protocol is uniquely positioned to partner with a multitude of teams within Solana DeFi, and Jupiter is no exception. We are eager to extend special benefits within our points program to the Jupiter community, as a testament to our valued partnership and shared vision for the future of DeFi on Solana. We are targeting our TGE for Q3-Q4 2024.


$CLN: A Community-Centric Approach
The success of a token launch hinges on two critical elements: the token’s utility within project and the strength of community support behind it. Our strategy for the launch of our utility token, $CLN, is twofold. First, we will ensure $CLN is an integral part of Clone from day one through immediate benefits, such as discounted trading fees. Second, we plan to foster a deep sense of ownership and involvement within our community. To this end, we’re launching $CLN with a generous airdrop. We have already begun a robust points program designed to reward our early community member’s loyalty and participation. The communities of our close partners will also be considered through this process, ensuring the entire Clone ecosystem benefits from our TGE. This isn’t just about giving away tokens; it’s about building a foundation for a thriving ecosystem where every member, from early supporters to ecosystem partners, feels valued and engaged. The LFG launchpad would be an incredible way for us to educate more people about Clone, $CLN, and get more Solana users early access to our token. As we prepare for TGE, our message is clear: Clone Protocol values the contributions of each community member and partner. For any project out there thinking about launching a token, our advice is to honor your community and partners.

In conclusion, we are incredibly excited about the prospect of working with Jupiter DAO and using the LFG launchpad to amplify our project, our token, and our vision for the future of Solana. If you are interested in learning more, I will attach some important links below.

Website: https://clone.so/
Docs: Welcome to Clone - Clone Docs - English
Whitepaper: White Paper - Clone Docs - English
Clone Markets (Private Access Only): https://markets.clone.so/
Clone Liquidity (Private Access Only): https://liquidity.clone.so/
Twitter: https://twitter.com/CloneProtocol
Discord: Discord
Blog: https://cloneprotocol.medium.com/

15 Likes

The Clone team has been great in building the “Cloner” community and pushing this exciting project forward! Looking forward to investing in $CLN and providing liquidity to this protocol!

Clone reminds me of Synthetify, or Synthethix on Ethereum. Is it something towards synthetic assets?

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Cloned assets are a bit different than traditional synthetic assets. They are MUCH more efficient, and they are specifically designed to onboard non-native token liquidity to Solana. For example, clone has already brought the first liquid trading pools for Arbitrum and Optimism to Solana on private mainnet.

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What are your plans for gaining adoption? Usually the demand to trade an asset mostly comes from users on the native chain. So Clone will need to either convince Solana users to trade those assets or attract users on the native chain to trade them on Solana instead.

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seems very promising. I wish had a chance to test Clone protocol. I hope you guys give us chances to be on your platform

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Hy there @dmark15

thanks for the introduction. Awesome.

How can I understand the cloned coins? Lets say on Arbitrum you say 50 Arb I want to use on Solana. You get them into a Smart Contract and bridge them to Solana?

Thanks

Cheers

Perry_Hope

@Durden has a great question. Love to see the plans y’all have to attract users. The solution is indeed something well needed and the platform, from what I tested, is great even on its early stage.

Excited to see Clone here.

2 Likes

As you mentioned, we of course are hoping to help onboard crypto users from other chains to Solana by making assets they’re familiar with available through cloned assets. However we are also working hard to make sure cloned assets have utility within the Solana ecosystem itself. We are creating a cloned asset Solend pool that will allow users to borrow USDC with non-native tokens. Also, we will be building a strategy that farms perpetual funding rates by choosing the positive side on protocols like Drift, and establishing the opposite position on Clone (this can be made even more efficient using our Solend pool). This just scrapes the surface for unique opportunities cloned assets introduce to Solana DeFi. Lastly, our model makes it very cheap to list new tokens, so we can scale quickly. Taking user feedback into consideration for each new cloned asset, we will find out exactly what tokens users want to trade on Solana!

2 Likes

The entire point of Clone is so you no longer have to worry about bridging. When we list a non-native asset, we immediately support liquid trading pools for you to purchase it. We allow you to buy and use cloned Arbitrum without ever leaving Solana or touching a bridge!

2 Likes

Hey this project seems really cool. I tried reading the docs but I have a couple of questions.

Does the cloned token price track the price of the token outside of Clone Protocol or does the LP determine the price?

I see there is a way to wrap tokens, is there a way to unwrap cloned tokens?

What does clone protocol do with the unwrapped token after cloning?

there were and maybe still are wormholes I remember LPs to buy eth chain coins on sol. not alot of choices, how many coins are you wanting to clone and can you raise enough to fill the LPs?

Enjoyed readingvthis! Love it, and very promising indeed.

Bridging does make this possible, but bridged assets have very low liquidity on Solana due to the high cost and risks associated for LPs. Clone is optimized for the onboarding of non-native token liquidity through cloned assets. We plan to scale quickly to a large variety of non-native tokens.

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Hey Tim, happy to answer your questions!

Liquidity providers of cloned tokens must provide liquidity around the oracle price, and our prices remain pegged due to our unique Hybrid Collateral Model: Hybrid Collateral Model - Clone Docs - English

It is possible to unwrap, we will open this up to this functionality up during our public launch. Wrapping and unwrapping are mainly used for arbitrage through the Hybrid Collateral Model mentioned above, which is separate from the comet liquidity provision process. If you have more questions, reach out to @dmark1415 in our discord!

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What are your plans to attract traders away from their native chain in order to trade on Solana? Is this meant to replace perps or spot trading on CEXs?

Your HCM sounds like an Arbitrage bot’s dream. Love what you’re building though, I’ve been keeping tabs on the project for a minute. Pretty sure I have private access to it as well. My biggest question would be on what the actual methodology is that you have to pulling traffic from other chains. As I’m sure you know, each chain has its own culture & most of the people there stick to them for those reasons alone, regardless of the opportunities presented elsewhere. It seems like your target audience is chain agnostic in general or coin maxis, correct?

I think you’re definitely right, that a big part of our target audience is chain agnostic coin maxis that may benefit from the opportunity to trade their favorite tokens cheaper and faster on Solana. However, I think a potentially even more impactful segment of our target audience is actually Solana users who have most of their capital parked on Solana. Clone makes it possible to buy and use any asset without ever leaving the Solana blockchain, turning Solana into a universal chain where you can trade any token. If you’re a Solana user who wants access to the entire crypto world without leaving your Solana home, cloned assets are a very attractive option.

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Very good point. Utilizing the native underlying tech that we appreciate Solana for; low transaction costs, speed etc., while opening a much broader realm of investment opportunities without having to compromise that. Brilliant! Now its just getting the Solana deigns & maxis to see the value in it lol

Itl be nice to have a reliable and growing place to get exposure to assets from other chains again. Hoping this one keeps building and continues to open doors for us.