{"id":106339,"date":"2026-06-28T09:15:26","date_gmt":"2026-06-28T14:15:26","guid":{"rendered":"https:\/\/www.turkishnyradio.com\/?p=106339"},"modified":"2026-06-26T10:02:41","modified_gmt":"2026-06-26T15:02:41","slug":"kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri","status":"publish","type":"post","link":"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/","title":{"rendered":"Kriptoda Otomatik Piyasa Yap\u0131c\u0131lar\u0131n (AMM) Gizli Riskleri"},"content":{"rendered":"<p>Bu makale ilk olarak <a href=\"https:\/\/www.turkishnyradio.com\/\">TurkishNY Radio&#8217;da<\/a> yay\u0131mlanm\u0131\u015ft\u0131r.<\/p>\n<p>Merkeziyetsiz finans (DeFi), dijital varl\u0131klar\u0131n al\u0131m sat\u0131m \u015feklini de\u011fi\u015ftirdi ve bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn merkezinde kriptodaki Otomatik Piyasa Yap\u0131c\u0131lar (AMM) yer al\u0131yor.<\/p>\n<p>\u00c7o\u011fu yat\u0131r\u0131mc\u0131 token fiyatlar\u0131na ve piyasa trendlerine odaklan\u0131rken, AMM&#8217;ler bir\u00e7ok merkeziyetsiz borsan\u0131n geleneksel arac\u0131lara ihtiya\u00e7 duymadan \u00e7al\u0131\u015fmas\u0131n\u0131 sa\u011flayan teknolojiyi olu\u015fturuyor.<\/p>\n<p>AMM&#8217;ler, al\u0131c\u0131 ve sat\u0131c\u0131lar\u0131n emirlerini e\u015fle\u015ftirmeye dayanmak yerine, kullan\u0131c\u0131lar\u0131n ak\u0131ll\u0131 s\u00f6zle\u015fmelerde kilitli bulunan kripto para havuzlar\u0131yla do\u011frudan i\u015flem yapmas\u0131na olanak tan\u0131yor.<\/p>\n<p>Bu basit fikir, merkeziyetsiz borsalar\u0131n ni\u015f ara\u00e7lar olmaktan \u00e7\u0131k\u0131p bug\u00fcn milyarlarca dolarl\u0131k i\u015flem hacmini y\u00f6neten platformlara d\u00f6n\u00fc\u015fmesine yard\u0131mc\u0131 oldu.<\/p>\n<p>En b\u00fcy\u00fck merkeziyetsiz borsa protokollerinden biri olan Uniswap\u2019\u0131n resmi dok\u00fcmantasyonuna g\u00f6re, AMM&#8217;ler fiyatlar\u0131 belirlemek ve i\u015flemleri otomatik olarak ger\u00e7ekle\u015ftirmek i\u00e7in likidite havuzlar\u0131 ve matematiksel form\u00fcller kullan\u0131yor.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">\u0130\u00e7indekiler Tablosu<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u0130\u00e7indekiler Tablosunu A\u00e7\/Kapat\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Kriptoda_Otomatik_Piyasa_Yapici_AMM_Nasil_Calisir\" >Kriptoda Otomatik Piyasa Yap\u0131c\u0131 (AMM) Nas\u0131l \u00c7al\u0131\u015f\u0131r?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Kriptoda_Otomatik_Piyasa_Yapicilar_Varliklari_Nasil_Fiyatlandirir\" >Kriptoda Otomatik Piyasa Yap\u0131c\u0131lar Varl\u0131klar\u0131 Nas\u0131l Fiyatland\u0131r\u0131r?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Likidite_Saglayicilari_Ucret_Kazanir_Ancak_Risksiz_Degildir\" >Likidite Sa\u011flay\u0131c\u0131lar\u0131 \u00dccret Kazan\u0131r Ancak Risksiz De\u011fildir<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Bircok_Yeni_Kullanicinin_Gozden_Kacirdigi_Gizli_Maliyet\" >Bir\u00e7ok Yeni Kullan\u0131c\u0131n\u0131n G\u00f6zden Ka\u00e7\u0131rd\u0131\u011f\u0131 Gizli Maliyet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#MEV_Kayma_ve_Yatirimcilarin_Karsilastigi_Diger_Zorluklar\" >MEV, Kayma ve Yat\u0131r\u0131mc\u0131lar\u0131n Kar\u015f\u0131la\u015ft\u0131\u011f\u0131 Di\u011fer Zorluklar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Otomatik_Piyasa_Yapici_Modeli_Neden_Buyumeye_Devam_Ediyor\" >Otomatik Piyasa Yap\u0131c\u0131 Modeli Neden B\u00fcy\u00fcmeye Devam Ediyor?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Ozet\" >\u00d6zet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Temel_Terimler_Sozlugu\" >Temel Terimler S\u00f6zl\u00fc\u011f\u00fc<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Kriptoda_Otomatik_Piyasa_Yapicilar_Hakkinda_Sikca_Sorulan_Sorular\" >Kriptoda Otomatik Piyasa Yap\u0131c\u0131lar Hakk\u0131nda S\u0131k\u00e7a Sorulan Sorular<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#1_Kriptoda_Otomatik_Piyasa_Yapici_AMM_nedir\" >1. Kriptoda Otomatik Piyasa Yap\u0131c\u0131 (AMM) nedir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#2_Kullanicilar_AMMlerden_nasil_gelir_elde_edebilir\" >2. Kullan\u0131c\u0131lar AMM&#8217;lerden nas\u0131l gelir elde edebilir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#3_AMM_kullanmadan_once_hangi_riskler_bilinmelidir\" >3. AMM kullanmadan \u00f6nce hangi riskler bilinmelidir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#4_Yatirimcilar_AMMleri_daha_guvenli_nasil_kullanabilir\" >4. Yat\u0131r\u0131mc\u0131lar AMM&#8217;leri daha g\u00fcvenli nas\u0131l kullanabilir?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.turkishnyradio.com\/tr\/kriptoda-otomatik-piyasa-yapicilarin-amm-gizli-riskleri\/#Kaynaklar\" >Kaynaklar<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Kriptoda_Otomatik_Piyasa_Yapici_AMM_Nasil_Calisir\"><\/span><strong>Kriptoda Otomatik Piyasa Yap\u0131c\u0131 (AMM) Nas\u0131l \u00c7al\u0131\u015f\u0131r?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Geleneksel borsalar, al\u0131c\u0131lar\u0131n teklif verdi\u011fi ve sat\u0131c\u0131lar\u0131n sat\u0131\u015f emirleri olu\u015fturdu\u011fu emir defterlerine dayan\u0131r. Bir i\u015flem yaln\u0131zca her iki taraf da ayn\u0131 fiyat \u00fczerinde anla\u015ft\u0131\u011f\u0131nda ger\u00e7ekle\u015fir.<\/p>\n<p>Kriptodaki bir Otomatik Piyasa Yap\u0131c\u0131 (AMM) ise farkl\u0131 bir yakla\u015f\u0131m benimser. Emir defterlerinin yerini likidite havuzlar\u0131 al\u0131r. Bu havuzlar, likidite sa\u011flay\u0131c\u0131lar\u0131 olarak bilinen kullan\u0131c\u0131lar taraf\u0131ndan yat\u0131r\u0131lan token \u00e7iftlerinden olu\u015fur.<\/p>\n<p>Bir yat\u0131r\u0131mc\u0131 bir tokeni ba\u015fka bir tokenle de\u011fi\u015ftirdi\u011finde, ak\u0131ll\u0131 s\u00f6zle\u015fme havuzdaki varl\u0131k bakiyelerini g\u00fcnceller ve fiyatlar\u0131 buna g\u00f6re ayarlar. Merkezi bir operat\u00f6re ihtiya\u00e7 duyulmaz ve likidite oldu\u011fu s\u00fcrece i\u015flemler g\u00fcn\u00fcn her saatinde ger\u00e7ekle\u015ftirilebilir.<\/p>\n<p>Bu model, binlerce dijital varl\u0131\u011f\u0131n merkezi borsalarda listelenmeyi beklemeden i\u015flem g\u00f6rmesine olanak tan\u0131m\u0131\u015ft\u0131r.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kriptoda_Otomatik_Piyasa_Yapicilar_Varliklari_Nasil_Fiyatlandirir\"><\/span><strong>Kriptoda Otomatik Piyasa Yap\u0131c\u0131lar Varl\u0131klar\u0131 Nas\u0131l Fiyatland\u0131r\u0131r?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u00c7o\u011fu AMM, sabit \u00e7arp\u0131m form\u00fcl\u00fc olarak bilinen bir fiyatland\u0131rma mekanizmas\u0131na dayan\u0131r:<\/p>\n<p><strong>x \u00d7 y = k<\/strong><\/p>\n<p>Basit\u00e7e ifade etmek gerekirse, bu form\u00fcl bir varl\u0131k havuzdan \u00e7\u0131kt\u0131\u011f\u0131nda, havuza giren di\u011fer varl\u0131\u011f\u0131n miktar\u0131n\u0131n fiyat\u0131 otomatik olarak de\u011fi\u015ftirmesini sa\u011flar.<\/p>\n<p>\u00d6rne\u011fin yat\u0131r\u0131mc\u0131lar s\u00fcrekli olarak bir havuzdan ETH sat\u0131n al\u0131yorsa, mevcut ETH miktar\u0131 azal\u0131r. Arz d\u00fc\u015ft\u00fck\u00e7e fiyat y\u00fckselir ve sonraki al\u0131mlar daha maliyetli hale gelir.<\/p>\n<p>Bu otomatik fiyatland\u0131rma sistemi, <a href=\"https:\/\/www.turkishnyradio.com\/coinbase-perpetual-futures-approval-opens-regulated-access-to-global-crypto-derivatives\/\">kriptodaki bir AMM&#8217;nin<\/a> piyasa yap\u0131c\u0131lar\u0131n manuel olarak fiyat belirlemesine gerek kalmadan 7\/24 \u00e7al\u0131\u015fmas\u0131n\u0131 sa\u011flar.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Likidite_Saglayicilari_Ucret_Kazanir_Ancak_Risksiz_Degildir\"><\/span><strong>Likidite Sa\u011flay\u0131c\u0131lar\u0131 \u00dccret Kazan\u0131r Ancak Risksiz De\u011fildir<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Likidite sa\u011flay\u0131c\u0131lar\u0131 her AMM ekosisteminin temelini olu\u015fturur. Kullan\u0131c\u0131lar token \u00e7iftlerini havuzlara yat\u0131r\u0131r ve i\u015flemlerden elde edilen \u00fccretlerin bir k\u0131sm\u0131n\u0131 kazan\u0131r.<\/p>\n<p>Bu sistem \u00f6zellikle y\u00fcksek i\u015flem hacmi d\u00f6nemlerinde pasif gelir f\u0131rsatlar\u0131 yaratabilir. Ancak bir\u00e7ok yeni kullan\u0131c\u0131, likidite sa\u011flaman\u0131n beraberinde getirdi\u011fi riskleri hafife al\u0131r.<\/p>\n<p>Bir c\u00fczdanda varl\u0131k tutman\u0131n aksine, likidite pozisyonlar\u0131 yat\u0131r\u0131mc\u0131 i\u015flemlerine ba\u011fl\u0131 olarak s\u00fcrekli yeniden dengelenir. Bu nedenle kullan\u0131c\u0131lar, ba\u015flang\u0131\u00e7ta yat\u0131rd\u0131klar\u0131ndan farkl\u0131 bir varl\u0131k da\u011f\u0131l\u0131m\u0131 ile \u00e7ekim yapabilir.<\/p>\n<p>Bu fark\u0131 anlamak, herhangi bir havuza sermaye yat\u0131rmadan \u00f6nce b\u00fcy\u00fck \u00f6nem ta\u015f\u0131r.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bircok_Yeni_Kullanicinin_Gozden_Kacirdigi_Gizli_Maliyet\"><\/span><strong>Bir\u00e7ok Yeni Kullan\u0131c\u0131n\u0131n G\u00f6zden Ka\u00e7\u0131rd\u0131\u011f\u0131 Gizli Maliyet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kriptodaki bir Otomatik Piyasa Yap\u0131c\u0131 (AMM) ile ili\u015fkili en \u00f6nemli kavramlardan biri ge\u00e7ici kay\u0131pt\u0131r (impermanent loss).<\/p>\n<p>Bu durum, likidite \u00e7iftindeki varl\u0131klardan birinin di\u011ferine k\u0131yasla b\u00fcy\u00fck bir fiyat hareketi ya\u015famas\u0131yla ortaya \u00e7\u0131kar. Arbitraj yat\u0131r\u0131mc\u0131lar\u0131, havuzlar ve di\u011fer piyasalar aras\u0131ndaki fiyat farklar\u0131ndan yararlanarak havuzun yeniden dengelenmesini sa\u011flar.<\/p>\n<p>Sonu\u00e7 olarak likidite sa\u011flay\u0131c\u0131lar\u0131 genellikle daha zay\u0131f performans g\u00f6steren varl\u0131ktan daha fazla, g\u00fc\u00e7l\u00fc performans g\u00f6steren varl\u0131ktan ise daha az tutar.<\/p>\n<p>\u0130\u015flem \u00fccretleri bu kay\u0131plar\u0131n bir k\u0131sm\u0131n\u0131 telafi edebilse de, y\u00fcksek volatiliteye sahip varl\u0131klar likidite sa\u011flay\u0131c\u0131lar\u0131n\u0131 beklenenden daha b\u00fcy\u00fck risklerle kar\u015f\u0131 kar\u015f\u0131ya b\u0131rakabilir.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MEV_Kayma_ve_Yatirimcilarin_Karsilastigi_Diger_Zorluklar\"><\/span><strong>MEV, Kayma ve Yat\u0131r\u0131mc\u0131lar\u0131n Kar\u015f\u0131la\u015ft\u0131\u011f\u0131 Di\u011fer Zorluklar<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>AMM&#8217;ler, <a href=\"https:\/\/www.turkishnyradio.com\/sfc-sfc-loosens-strict-hong-kong-crypto-regulations\/\">kripto c\u00fczdan\u0131na<\/a> sahip herkes i\u00e7in merkeziyetsiz piyasalara eri\u015fimi kolayla\u015ft\u0131rd\u0131. Ancak tamamen risksiz de\u011fildir.<\/p>\n<p>B\u00fcy\u00fck i\u015flemler, beklenen fiyat ile ger\u00e7ekle\u015fen fiyat aras\u0131ndaki fark\u0131 ifade eden kaymaya (slippage) maruz kalabilir. D\u00fc\u015f\u00fck likiditeli havuzlar bu soruna kar\u015f\u0131 \u00f6zellikle hassast\u0131r.<\/p>\n<p>Bir di\u011fer \u00f6nemli risk ise Maksimum \u00c7\u0131kar\u0131labilir De\u011fer (MEV) olarak bilinir. Botlar, blok zincirinde bekleyen i\u015flemleri izleyerek &#8220;sandvi\u00e7 sald\u0131r\u0131lar\u0131&#8221; gibi y\u00f6ntemlerle i\u015flem s\u0131ralamas\u0131n\u0131 kendi lehlerine kullanabilir ve yat\u0131r\u0131mc\u0131lar\u0131n daha k\u00f6t\u00fc fiyatlardan i\u015flem yapmas\u0131na neden olabilir.<\/p>\n<p>Bu nedenle bir\u00e7ok merkeziyetsiz borsa protokol\u00fc art\u0131k kullan\u0131c\u0131lar\u0131 korumak i\u00e7in MEV koruma \u00e7\u00f6z\u00fcmleri sunmaktad\u0131r.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Otomatik_Piyasa_Yapici_Modeli_Neden_Buyumeye_Devam_Ediyor\"><\/span><strong>Otomatik Piyasa Yap\u0131c\u0131 Modeli Neden B\u00fcy\u00fcmeye Devam Ediyor?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kriptodaki Otomatik Piyasa Yap\u0131c\u0131 (AMM) modeli, Uniswap\u2019\u0131n bu yap\u0131y\u0131 DeFi kullan\u0131c\u0131lar\u0131 aras\u0131nda yayg\u0131nla\u015ft\u0131rmas\u0131ndan bu yana \u00f6nemli \u00f6l\u00e7\u00fcde geli\u015fti.<\/p>\n<p>Curve, Balancer, Raydium, PancakeSwap ve DODO gibi yeni nesil protokoller, verimlili\u011fi art\u0131rmak ve i\u015flem maliyetlerini d\u00fc\u015f\u00fcrmek amac\u0131yla farkl\u0131 tasar\u0131mlar geli\u015ftirdi.<\/p>\n<p>Baz\u0131lar\u0131 stabil kripto para i\u015flemlerine odaklan\u0131rken, baz\u0131lar\u0131 yo\u011funla\u015ft\u0131r\u0131lm\u0131\u015f likidite veya \u00e7ok varl\u0131kl\u0131 havuzlar\u0131 destekliyor. Ancak hepsi ayn\u0131 temel prensibe dayan\u0131yor: Ak\u0131ll\u0131 s\u00f6zle\u015fmeler ve likidite havuzlar\u0131 arac\u0131l\u0131\u011f\u0131yla merkeziyetsiz ticareti m\u00fcmk\u00fcn k\u0131lmak.<\/p>\n<p>Blok zinciri kullan\u0131m\u0131n\u0131n artmas\u0131 ve merkeziyetsiz finans\u0131n b\u00fcy\u00fcmeye devam etmesiyle birlikte, kriptodaki Otomatik Piyasa Yap\u0131c\u0131lar on-chain piyasalar\u0131n en \u00f6nemli altyap\u0131lar\u0131ndan biri olmay\u0131 s\u00fcrd\u00fcrecek gibi g\u00f6r\u00fcn\u00fcyor.<\/p>\n<p>Yat\u0131r\u0131mc\u0131lar ve likidite sa\u011flay\u0131c\u0131lar\u0131 i\u00e7in AMM&#8217;lerin nas\u0131l \u00e7al\u0131\u015ft\u0131\u011f\u0131n\u0131 anlamak art\u0131k bir tercih de\u011fil, modern kripto ekonomisine kat\u0131lman\u0131n temel bir par\u00e7as\u0131d\u0131r.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ozet\"><\/span><strong>\u00d6zet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Otomatik Piyasa Yap\u0131c\u0131lar (AMM), kullan\u0131c\u0131lar\u0131n geleneksel al\u0131c\u0131 ve sat\u0131c\u0131lara ihtiya\u00e7 duymadan likidite havuzlar\u0131 \u00fczerinden token takas\u0131 yapmas\u0131n\u0131 sa\u011flar.<\/li>\n<li>Bu sistemler, fiyatlar\u0131 belirlemek ve i\u015flemleri ger\u00e7ekle\u015ftirmek i\u00e7in ak\u0131ll\u0131 s\u00f6zle\u015fmeler kullan\u0131r.<\/li>\n<li>Kullan\u0131c\u0131lar likidite sa\u011flayarak \u00f6d\u00fcller kazanabilir, ancak ge\u00e7ici kay\u0131p gibi riskleri g\u00f6z \u00f6n\u00fcnde bulundurmal\u0131d\u0131r.<\/li>\n<li>Yat\u0131r\u0131mc\u0131lar ayr\u0131ca kayma (slippage), MEV sald\u0131r\u0131lar\u0131 ve d\u00fc\u015f\u00fck likidite risklerinin fark\u0131nda olmal\u0131d\u0131r.<\/li>\n<li>Pop\u00fcler AMM platformlar\u0131 aras\u0131nda Uniswap, Curve, Balancer, PancakeSwap, Raydium ve DODO yer almaktad\u0131r.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Temel_Terimler_Sozlugu\"><\/span><strong>Temel Terimler S\u00f6zl\u00fc\u011f\u00fc<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>1. Otomatik Piyasa Yap\u0131c\u0131 (AMM)<\/strong><\/p>\n<p>AMM, kullan\u0131c\u0131lar\u0131n kar\u015f\u0131 tarafta ba\u015fka bir yat\u0131r\u0131mc\u0131 olmadan kripto para al\u0131p satmas\u0131na olanak tan\u0131yan bir sistemdir. \u0130\u015flemler, bilgisayar kodlar\u0131 taraf\u0131ndan y\u00f6netilen likidite havuzlar\u0131 \u00fczerinden ger\u00e7ekle\u015fir.<\/p>\n<p><strong>2. Likidite Havuzu<\/strong><\/p>\n<p>Likidite havuzu, kullan\u0131c\u0131lar taraf\u0131ndan yat\u0131r\u0131lan kripto paralardan olu\u015fan ortak bir fondur. Bu fonlar, i\u015flemlerin kesintisiz \u015fekilde ger\u00e7ekle\u015fmesini sa\u011flar.<\/p>\n<p><strong>3. Likidite Sa\u011flay\u0131c\u0131s\u0131 (LP)<\/strong><\/p>\n<p>Likidite sa\u011flay\u0131c\u0131s\u0131, varl\u0131klar\u0131n\u0131 bir likidite havuzuna ekleyen kullan\u0131c\u0131d\u0131r. Kar\u015f\u0131l\u0131\u011f\u0131nda, havuzdaki i\u015flemlerden elde edilen \u00fccretlerden pay al\u0131r.<\/p>\n<p><strong>4. Ak\u0131ll\u0131 S\u00f6zle\u015fme<\/strong><\/p>\n<p>Belirli ko\u015fullar yerine geldi\u011finde otomatik olarak \u00e7al\u0131\u015fan blok zinciri tabanl\u0131 bir yaz\u0131l\u0131md\u0131r. Arac\u0131ya ihtiya\u00e7 duymadan i\u015flemleri ger\u00e7ekle\u015ftirir.<\/p>\n<p><strong>5. Kayma (Slippage)<\/strong><\/p>\n<p>Kayma, beklenen i\u015flem fiyat\u0131 ile ger\u00e7ekle\u015fen fiyat aras\u0131ndaki farkt\u0131r. \u00d6zellikle yo\u011fun piyasa ko\u015fullar\u0131nda daha s\u0131k g\u00f6r\u00fcl\u00fcr.<\/p>\n<p><strong>6. Ge\u00e7ici Kay\u0131p (Impermanent Loss)<\/strong><\/p>\n<p>Likidite havuzundaki varl\u0131klar\u0131n de\u011ferinin, ayn\u0131 varl\u0131klar\u0131 c\u00fczdanda tutmaya k\u0131yasla daha d\u00fc\u015f\u00fck hale gelmesidir.<\/p>\n<p><strong>7. Arbitraj<\/strong><\/p>\n<p>Bir kripto paray\u0131 d\u00fc\u015f\u00fck fiyatl\u0131 bir piyasadan sat\u0131n al\u0131p daha y\u00fcksek fiyatl\u0131 ba\u015fka bir piyasada satma i\u015flemidir.<\/p>\n<p><strong>8. MEV (Maksimum \u00c7\u0131kar\u0131labilir De\u011fer)<\/strong><\/p>\n<p>Botlar\u0131n veya do\u011frulay\u0131c\u0131lar\u0131n bekleyen i\u015flemlerden yararlanarak ek kazan\u00e7 elde etmesini ifade eder. Bu durum yat\u0131r\u0131mc\u0131lar\u0131n daha k\u00f6t\u00fc fiyatlarla i\u015flem yapmas\u0131na neden olabilir.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kriptoda_Otomatik_Piyasa_Yapicilar_Hakkinda_Sikca_Sorulan_Sorular\"><\/span><strong>Kriptoda Otomatik Piyasa Yap\u0131c\u0131lar Hakk\u0131nda S\u0131k\u00e7a Sorulan Sorular<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_Kriptoda_Otomatik_Piyasa_Yapici_AMM_nedir\"><\/span><strong>1. Kriptoda Otomatik Piyasa Yap\u0131c\u0131 (AMM) nedir?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>AMM, kullan\u0131c\u0131lar\u0131n kripto paralar\u0131 do\u011frudan likidite havuzlar\u0131 \u00fczerinden al\u0131p satmas\u0131na olanak tan\u0131yan ve geleneksel al\u0131c\u0131-sat\u0131c\u0131 e\u015fle\u015fmesine ihtiya\u00e7 duymayan bir sistemdir.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Kullanicilar_AMMlerden_nasil_gelir_elde_edebilir\"><\/span><strong>2. Kullan\u0131c\u0131lar AMM&#8217;lerden nas\u0131l gelir elde edebilir?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Kullan\u0131c\u0131lar tokenlerini likidite havuzlar\u0131na ekleyerek di\u011fer yat\u0131r\u0131mc\u0131lar\u0131n yapt\u0131\u011f\u0131 i\u015flemlerden \u00fccret geliri elde edebilir. Baz\u0131 platformlar ek \u00f6d\u00fcller de sunar.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_AMM_kullanmadan_once_hangi_riskler_bilinmelidir\"><\/span><strong>3. AMM kullanmadan \u00f6nce hangi riskler bilinmelidir?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ge\u00e7ici kay\u0131p, fiyat kaymas\u0131, ak\u0131ll\u0131 s\u00f6zle\u015fme a\u00e7\u0131klar\u0131 ve sahte tokenler kullan\u0131c\u0131lar\u0131n dikkat etmesi gereken ba\u015fl\u0131ca risklerdir.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Yatirimcilar_AMMleri_daha_guvenli_nasil_kullanabilir\"><\/span><strong>4. Yat\u0131r\u0131mc\u0131lar AMM&#8217;leri daha g\u00fcvenli nas\u0131l kullanabilir?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u0130\u015flem yapmadan \u00f6nce token bilgilerini do\u011frulamak, havuz likiditesini kontrol etmek, \u00fccretleri incelemek ve g\u00fcvenilir protokolleri tercih etmek \u00f6nemlidir.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kaynaklar\"><\/span><strong>Kaynaklar<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/developers.uniswap.org\/docs?utm\" rel=\"nofollow noopener\" target=\"_blank\">Uniswap<\/a><\/p>\n<p><a href=\"https:\/\/docs.balancer.fi\/?utm\" rel=\"nofollow noopener\" target=\"_blank\">Balancer<\/a><\/p>\n<p><a href=\"https:\/\/ethereum.org\/developers\/docs\/?utm\" rel=\"nofollow noopener\" target=\"_blank\">Ethereum<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bu makale ilk olarak TurkishNY Radio&#8217;da yay\u0131mlanm\u0131\u015ft\u0131r. Merkeziyetsiz finans (DeFi), dijital varl\u0131klar\u0131n al\u0131m sat\u0131m \u015feklini de\u011fi\u015ftirdi ve bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn merkezinde kriptodaki Otomatik Piyasa Yap\u0131c\u0131lar (AMM) yer al\u0131yor. \u00c7o\u011fu yat\u0131r\u0131mc\u0131 token fiyatlar\u0131na ve piyasa trendlerine odaklan\u0131rken, AMM&#8217;ler bir\u00e7ok merkeziyetsiz borsan\u0131n geleneksel arac\u0131lara ihtiya\u00e7 duymadan \u00e7al\u0131\u015fmas\u0131n\u0131 sa\u011flayan teknolojiyi olu\u015fturuyor. AMM&#8217;ler, al\u0131c\u0131 ve sat\u0131c\u0131lar\u0131n emirlerini e\u015fle\u015ftirmeye dayanmak yerine, [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":25640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","override":[{"template":"2","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"bottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"no-crop","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0"},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2014],"tags":[],"class_list":["post-106339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/posts\/106339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/comments?post=106339"}],"version-history":[{"count":1,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/posts\/106339\/revisions"}],"predecessor-version":[{"id":106340,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/posts\/106339\/revisions\/106340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/media\/25640"}],"wp:attachment":[{"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/media?parent=106339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/categories?post=106339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnyradio.com\/tr\/wp-json\/wp\/v2\/tags?post=106339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}