{"id":12261,"date":"2025-11-06T14:01:27","date_gmt":"2025-11-06T05:01:27","guid":{"rendered":"https:\/\/ioi-sonpo.co.jp\/crypto\/?p=12261"},"modified":"2026-07-27T12:22:21","modified_gmt":"2026-07-27T03:22:21","slug":"impermanent-loss","status":"publish","type":"post","link":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/","title":{"rendered":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac"},"content":{"rendered":"\n<p class=\"u-mb-ctrl u-mb-0 wp-block-paragraph\"><strong>ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide u-mb-ctrl u-mb-10\"\/>\n\n\n\n<ul class=\"wp-block-list -list-under-dashed is-style-index\">\n<li><strong><span class=\"swl-marker mark_yellow\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3057\u305f\u65b9\u304c\u300c\u305d\u306e\u307e\u307e\u4fdd\u6709(\u30ac\u30c1\u30db)\u300d\u3088\u308a\u4fa1\u5024\u304c\u6e1b\u308b\u5dee\u984d\u306e\u3053\u3068<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>DEX\u306b\u9810\u3051\u305f2\u3064\u306e\u901a\u8ca8\u306e\u4fa1\u683c\u6bd4\u304c\u52d5\u304f\u3068\u767a\u751f\u3059\u308b\u3001\u672a\u78ba\u5b9a(\u542b\u307f)\u306e\u640d\u5931<\/li>\n\n\n\n<li>\u4fa1\u683c\u6bd4\u304c\u5143\u306b\u623b\u308c\u3070\u6d88\u3048\u308b\u305f\u3081\u300c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8(\u4e00\u6642\u7684)\u300d\u3068\u547c\u3070\u308c\u308b<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><span class=\"swl-marker mark_yellow\">\u767a\u751f\u306e\u6b63\u4f53\u306f\u300c\u4fa1\u683c\u306e\u4e56\u96e2\u00d7\u81ea\u52d5\u30ea\u30d0\u30e9\u30f3\u30b9\u300d\u3002\u5024\u4e0a\u304c\u308a\u3057\u305f\u5074\u304c\u81ea\u52d5\u3067\u58f2\u3089\u308c\u3066\u3057\u307e\u3046<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>AMM(\u5b9a\u6570\u7a4dx\u00d7y=k)\u304c\u30d7\u30fc\u30eb\u306e\u6bd4\u7387\u3092\u4fdd\u3064\u305f\u3081\u3001\u4e0a\u304c\u3063\u305f\u901a\u8ca8\u3092\u6e1b\u3089\u3057\u4e0b\u304c\u3063\u305f\u901a\u8ca8\u3092\u5897\u3084\u3059<\/li>\n\n\n\n<li>\u5f15\u304d\u51fa\u3059\u6642\u3001\u5358\u7d14\u306b\u6301\u3063\u3066\u3044\u305f\u5834\u5408\u3068\u306e\u5dee\u304c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3068\u3057\u3066\u8868\u9762\u5316\u3059\u308b<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><span class=\"swl-marker mark_yellow\">\u640d\u5931\u306e\u5927\u304d\u3055\u306f\u4fa1\u683c\u500d\u7387\u3067\u6c7a\u307e\u308b\u30022\u500d\u3067\u7d04-5.7%\u30015\u500d\u3067\u7d04-25.5%(\u5b9f\u8a08\u7b97\u5024)<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>\u4e0a\u6607\u3067\u3082\u4e0b\u843d\u3067\u3082\u767a\u751f\u3057\u30010.5\u500d(\u534a\u5024)\u306f2\u500d\u3068\u540c\u3058\u7d04-5.7%\u3002\u7247\u65b9\u3060\u3051\u52d5\u304f\u307b\u3069\u5927\u304d\u3044<\/li>\n\n\n\n<li>\u8a08\u7b97\u5f0f\u306f IL = 2\u221ak \u00f7 (1+k) \u2212 1(k\u306f\u4fa1\u683c\u500d\u7387)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><span class=\"swl-marker mark_yellow\">\u5bfe\u7b56\u306f\u300c\u30da\u30a2\u9078\u3073\u30fb\u624b\u6570\u6599APR\u3068\u306e\u640d\u76ca\u5206\u5c90\u30fb\u4fa1\u683c\u306e\u623b\u308a\u5f85\u3061\u300d\u3002\u7a0e\u91d1\u306b\u3082\u6ce8\u610f<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>\u30b9\u30c6\u30fc\u30d6\u30eb\u540c\u58eb\u3084\u76f8\u95a2\u306e\u9ad8\u3044\u30da\u30a2\u306fIL\u304c\u5c0f\u3055\u304f\u3001\u624b\u6570\u6599APR\u304cIL\u3092\u4e0a\u56de\u308c\u3070\u5b9f\u8cea\u30d7\u30e9\u30b9<\/li>\n\n\n\n<li>LP\u5831\u916c\u3084\u30b9\u30ef\u30c3\u30d7\u3067\u5f97\u305f\u5229\u76ca\u306f\u3001\u65e5\u672c\u3067\u306f\u539f\u5247\u300c\u96d1\u6240\u5f97\u300d\u3067\u8ab2\u7a0e\u306e\u5bfe\u8c61<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"swell-block-balloon\"><div class=\"c-balloon -bln-left\" data-col=\"gray\"><div class=\"c-balloon__icon -square\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview-150x150.png\" alt=\"\" class=\"c-balloon__iconImg\" width=\"80px\" height=\"80px\"><span class=\"c-balloon__iconName\">\u6c34\u91ce \u502b\u592a\u90ce<\/span><\/div><div class=\"c-balloon__body -speaking -border-none\"><div class=\"c-balloon__text\">\n<p><span class=\"swl-fz u-fz-s\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u300c\u640d\u5931\u300d\u3068\u3044\u3046\u540d\u524d\u3067\u3059\u304c\u3001\u6b63\u4f53\u306f\u201cLP\u306b\u305b\u305a\u6301\u3063\u3066\u3044\u308c\u3070\u5f97\u3089\u308c\u305f\u306f\u305a\u306e\u5229\u76ca\u3068\u306e\u5dee\u201d\u3067\u3059\u3002\u591a\u304f\u306e\u65b9\u304c\u9ad8\u3044APR(\u5229\u56de\u308a)\u3060\u3051\u898b\u3066\u98db\u3073\u8fbc\u307f\u307e\u3059\u304c\u3001\u5927\u4e8b\u306a\u306e\u306f\u300e\u624b\u6570\u6599\u53ce\u5165\u304c\u3053\u306eIL\u3092\u4e0a\u56de\u308b\u304b\u300f\u3002\u3053\u3053\u3092\u8a08\u7b97\u305b\u305a\u306b\u59cb\u3081\u308b\u3068\u3001\u5229\u56de\u308a\u306f\u4ed8\u3044\u305f\u306e\u306b\u5143\u672c\u30d9\u30fc\u30b9\u3067\u306f\u8ca0\u3051\u3066\u3044\u305f\u3001\u3068\u3044\u3046\u4e8b\u614b\u306b\u306a\u308a\u307e\u3059\u3002\u307e\u305a\u306f\u4ed5\u7d44\u307f\u3068\u65e9\u898b\u8868\u3067\u808c\u611f\u3092\u3064\u304b\u307f\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<span class=\"c-balloon__shapes\"><span class=\"c-balloon__before\"><\/span><span class=\"c-balloon__after\"><\/span><\/span><\/div><\/div><\/div><\/div>\n\n<div class=\"p-blogParts post_content\" data-partsID=\"200256\">\n<div class=\"wp-block-columns pc_only border_main\">\n<div class=\"wp-block-column\">\n<div class=\"swell-block-columns u-mb-ctrl u-mb-0\"><div class=\"swell-block-columns__inner\">\n<div class=\"swell-block-column swl-has-mb--s\" style=\"--clmn-w--pc:20%\">\n<figure class=\"wp-block-image size-full is-style-rounded size_xs u-mb-ctrl u-mb-0\"><img decoding=\"async\" width=\"505\" height=\"494\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview.png\" alt=\"\" class=\"wp-image-203117\" style=\"object-fit:cover\" srcset=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview.png 505w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview-300x293.png 300w\" sizes=\"(max-width: 505px) 100vw, 505px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.3\"><strong><span class=\"swl-fz u-fz-s\">\u6c34\u91ce \u502b\u592a\u90ce<\/span><\/strong><span class=\"swl-fz u-fz-xs\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\"><br>(\u682a)ICHIZEN HOLDINGS<\/mark><\/span><\/p>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1\"><span class=\"swl-fz u-fz-xs\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\">\u4ee3\u8868\u53d6\u7de0\u5f79<\/mark><\/span><\/p>\n<\/div>\n\n\n\n<div class=\"swell-block-column swl-has-mb--s\" data-valign=\"center\" style=\"--clmn-w--pc:80%\">\n<div class=\"wp-block-columns u-mb-ctrl u-mb-0\">\n<div class=\"wp-block-column\">\n<p class=\"u-mb-ctrl u-mb-0 wp-block-paragraph\"><strong><span style=\"text-decoration: underline;\"><span class=\"swl-fz u-fz-s\">\u3053\u306e\u8a18\u4e8b\u306e\u57f7\u7b46\u8005\/\u76e3\u4fee\u8005<\/span><\/span><\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column\">\n<p class=\"has-text-align-right wp-block-paragraph\"><span class=\"swl-fz u-fz-s\"><a href=\"https:\/\/x.com\/Miizuno_sine\" data-type=\"link\" data-id=\"https:\/\/x.com\/Miizuno_sine\" target=\"_blank\" rel=\"noreferrer noopener\">X<\/a>\u30fb<a href=\"https:\/\/www.facebook.com\/profile.php?id=100010001685351\" data-type=\"link\" data-id=\"https:\/\/www.facebook.com\/profile.php?id=100010001685351\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>\u30fb<a href=\"https:\/\/www.linkedin.com\/in\/%E5%80%AB%E5%A4%AA%E9%83%8E-%E6%B0%B4%E9%87%8E-6762ab27b\/?originalSubdomain=jp\" data-type=\"link\" data-id=\"https:\/\/www.linkedin.com\/in\/%E5%80%AB%E5%A4%AA%E9%83%8E-%E6%B0%B4%E9%87%8E-6762ab27b\/?originalSubdomain=jp\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a><\/span><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"u-mb-ctrl u-mb-10 wp-block-paragraph\" style=\"line-height:1.4\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\"><span class=\"swl-fz u-fz-xs\">\u6176\u61c9\u7fa9\u587e\u5927\u5b66\u7d4c\u6e08\u5b66\u90e8\u5352\u30022017\u5e74\u7c73\u56fd\u7559\u5b66\u6642\u306b\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3068\u51fa\u4f1a\u3044\u3001Web3\u306e\u696d\u754c\u306b\u8db3\u3092\u8e0f\u307f\u5165\u308c\u308b\u30022018\u5e74\u3001\u4eee\u60f3\u901a\u8ca8\u30e1\u30c7\u30a3\u30a2CoinOtaku\u306b\u5165\u793e\u30022019\u5e74\u306b\u306f\u540c\u793e\u306eCMO\u306b\u5c31\u4efb\u3057\u30012020\u5e74\u306b\u6771\u8a3c\u4e8c\u90e8\u4e0a\u5834\u4f01\u696d\u3068M\uff06A\u3092\u884c\u3044\u3001\u69d8\u3005\u306a\u30af\u30ea\u30d7\u30c8\u4e8b\u696d\u3092\u5c55\u958b\u30022022\u5e74\u306b\u73fe\u5728\u4ee3\u8868\u53d6\u7de0\u5f79\u793e\u9577\u3092\u52d9\u3081\u308bICHIZEN HOLDINGS\u3092\u7acb\u3061\u4e0a\u3052\u69d8\u3005\u306aWeb3\u4e8b\u696d\u3092\u624b\u304c\u3051\u308b\u3002\u8907\u6570\u306eWeb3\u7cfb\u4e8b\u696d\u306b\u51fa\u8cc7\u3092\u884c\u3044\u306a\u304c\u3089\u6709\u8b58\u8005\u3068\u3057\u3066\u6d3b\u52d5\u3002<\/span><\/mark><\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns border_gray sp_only\">\n<div class=\"wp-block-column\">\n<figure class=\"wp-block-image size-full is-resized is-style-rounded\"><img decoding=\"async\" width=\"505\" height=\"494\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview.png\" alt=\"\" class=\"wp-image-203117\" style=\"width:85px\" srcset=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview.png 505w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview-300x293.png 300w\" sizes=\"(max-width: 505px) 100vw, 505px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-social-links has-small-icon-size u-mb-ctrl u-mb-10 is-content-justification-center is-layout-flex wp-container-core-social-links-is-layout-fe48e5de wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-twitter wp-block-social-link\"><a href=\"https:\/\/x.com\/Miizuno_sine\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/profile.php?id=100010001685351\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/in\/%E5%80%AB%E5%A4%AA%E9%83%8E-%E6%B0%B4%E9%87%8E-6762ab27b\/?originalSubdomain=jp\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.7\"><span class=\"swl-fz u-fz-xs\">\u76e3\u4fee<\/span>\u3000<strong><span style=\"font-size:19px\" class=\"swl-fz\">\u6c34\u91ce \u502b\u592a\u90ce<\/span><\/strong><br><span class=\"swl-fz u-fz-xs\">\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS \u4ee3\u8868\u53d6\u7de0\u5f79<\/span><\/p>\n\n\n\n<p class=\"has-text-align-left u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.7\"><span class=\"swl-fz u-fz-xs\">\u6176\u61c9\u7fa9\u587e\u5927\u5b66\u7d4c\u6e08\u5b66\u90e8\u30022017\u5e74\u7c73\u56fd\u7559\u5b66\u6642\u306b\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3068\u51fa\u4f1a\u3044\u3001Web3\u306e\u696d\u754c\u306b\u8db3\u3092\u8e0f\u307f\u5165\u308c\u308b\u30022018\u5e74\u306b\u306f\u3001\u65e5\u672c\u6709\u6570\u306e\u4eee\u60f3\u901a\u8ca8\u30e1\u30c7\u30a3\u30a2CoinOtaku\u306b\u5165\u793e\u30022019\u5e74\u306b\u306f\u540c\u793e\u306eCMO\u306b\u5c31\u4efb\u3057\u30012020\u5e74\u306b\u6771\u8a3c\u4e8c\u90e8\u4e0a\u5834\u4f01\u696d\u3068M\uff06A\u3092\u884c\u3044\u3001\u69d8\u3005\u306a\u30af\u30ea\u30d7\u30c8\u4e8b\u696d\u3092\u5c55\u958b\u3059\u308b\u30022022\u5e74\u306b\u73fe\u5728\u4ee3\u8868\u53d6\u7de0\u5f79\u793e\u9577\u3092\u52d9\u3081\u308bICHIZEN HOLDINGS\u3092\u7acb\u3061\u4e0a\u3052\u69d8\u3005\u306aWeb3\u4e8b\u696d\u3092\u624b\u304c\u3051\u308b\u3002\u8907\u6570\u306eWeb3\u7cfb\u4e8b\u696d\u306b\u51fa\u8cc7\u3092\u884c\u3044\u306a\u304c\u3089\u6709\u8b58\u8005\u3068\u3057\u3066\u6d3b\u52d5\u3002<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u57fa\u672c\u60c5\u5831<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><span class=\"swl-marker mark_yellow\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(Impermanent Loss\uff0f\u5909\u52d5\u640d\u5931)\u3068\u306f\u3001DEX\u306b\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3057\u305f\u5834\u5408\u306b\u3001\u305d\u306e2\u3064\u306e\u901a\u8ca8\u3092\u300c\u305f\u3060\u4fdd\u6709\u3057\u7d9a\u3051\u305f\u5834\u5408(\u30ac\u30c1\u30db)\u300d\u3068\u6bd4\u3079\u3066\u8cc7\u7523\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3059\u308b\u3001\u305d\u306e\u5dee\u984d\u306e\u3053\u3068\u3067\u3059\u3002<\/span><\/strong>\u9810\u3051\u305f\u30da\u30a2\u306e\u4fa1\u683c\u6bd4\u304c\u5909\u52d5\u3059\u308b\u307b\u3069\u5927\u304d\u304f\u306a\u308a\u3001\u65e5\u672c\u8a9e\u3067\u306f\u300c\u5909\u52d5\u640d\u5931\u300d\u3068\u3082\u547c\u3070\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30dd\u30a4\u30f3\u30c8\u306f\u3001\u3053\u308c\u304c<strong>\u300c\u5b9f\u969b\u306b\u304a\u91d1\u304c\u6e1b\u3063\u305f\u300d\u640d\u5931\u3067\u306f\u306a\u304f\u3001\u3042\u304f\u307e\u3067\u201c\u6301\u3063\u3066\u3044\u305f\u65b9\u304c\u5f97\u3060\u3063\u305f\u201d\u3068\u3044\u3046\u6a5f\u4f1a\u640d\u5931<\/strong>\u3060\u3068\u3044\u3046\u70b9\u3067\u3059\u3002\u4fa1\u683c\u6bd4\u304c\u5143\u306e\u6c34\u6e96\u306b\u623b\u308c\u3070\u5dee\u984d\u306f\u6d88\u3048\u308b\u305f\u3081\u300c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8(\u4e00\u6642\u7684)\u300d\u3068\u3044\u3046\u540d\u304c\u4ed8\u3044\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u4fa1\u683c\u304c\u623b\u3089\u306a\u3044\u307e\u307e\u5f15\u304d\u51fa\u305b\u3070\u3001\u305d\u306e\u6642\u70b9\u3067\u640d\u5931\u306f\u78ba\u5b9a\u3057\u307e\u3059\u3002\u307e\u305a\u306f\u5168\u4f53\u50cf\u3092\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table\"><table style=\"--table-width:800px;font-size:14px;\"><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><th>\u540d\u79f0<\/th><td>\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(Impermanent Loss\uff0f\u5909\u52d5\u640d\u5931\uff0fIL)<\/td><\/tr><tr><th>\u610f\u5473<\/th><td>LP\u3057\u305f\u65b9\u304c\u5358\u7d14\u4fdd\u6709\u3088\u308a\u4fa1\u5024\u304c\u6e1b\u308b\u300c\u5dee\u984d\u300d(\u6a5f\u4f1a\u640d\u5931)<\/td><\/tr><tr><th>\u767a\u751f\u3059\u308b\u5834\u6240<\/th><td>DEX\u306e\u6d41\u52d5\u6027\u30d7\u30fc\u30eb(AMM\u578b)\u3078\u306e\u6d41\u52d5\u6027\u63d0\u4f9b\u6642<\/td><\/tr><tr><th>\u767a\u751f\u306e\u539f\u56e0<\/th><td>\u9810\u3051\u305f\u30da\u30a2\u306e\u4fa1\u683c\u6bd4\u306e\u5909\u52d5\uff0bAMM\u306e\u81ea\u52d5\u30ea\u30d0\u30e9\u30f3\u30b9<\/td><\/tr><tr><th>\u640d\u5931\u306e\u76ee\u5b89<\/th><td>\u4fa1\u683c2\u500d\u3067\u7d04-5.7%\uff0f5\u500d\u3067\u7d04-25.5%(\u4e0a\u6607\u30fb\u4e0b\u843d\u3069\u3061\u3089\u3067\u3082\u767a\u751f)<\/td><\/tr><tr><th>\u300c\u4e00\u6642\u7684\u300d\u306e\u7406\u7531<\/th><td>\u4fa1\u683c\u6bd4\u304c\u5143\u306b\u623b\u308c\u3070\u640d\u5931\u306f\u6d88\u3048\u308b(\u5f15\u304d\u51fa\u3059\u3068\u78ba\u5b9a)<\/td><\/tr><tr><th>\u4e3b\u306a\u5bfe\u7b56<\/th><td>\u76f8\u95a2\u306e\u9ad8\u3044\u30da\u30a2\u9078\u3073\u30fb\u624b\u6570\u6599APR\u3068\u306e\u640d\u76ca\u5206\u5c90\u30fb\u4fa1\u683c\u306e\u623b\u308a\u5f85\u3061<\/td><\/tr><tr><th>\u65e5\u672c\u3067\u306e\u7a0e\u52d9<\/th><td>LP\u5831\u916c\u3084\u30b9\u30ef\u30c3\u30d7\u76ca\u306f\u539f\u5247\u300c\u96d1\u6240\u5f97\u300d\u3067\u7dcf\u5408\u8ab2\u7a0e<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u6b21\u7ae0\u304b\u3089\u3001<strong>\u300c\u306a\u305c\u3053\u306e\u5dee\u984d\u304c\u751f\u307e\u308c\u308b\u306e\u304b\u300d\u3068\u3044\u3046\u4ed5\u7d44\u307f<\/strong>\u3092\u3001AMM\u306e\u52d5\u304d\u306b\u6cbf\u3063\u3066\u3067\u304d\u308b\u3060\u3051\u76f4\u611f\u7684\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002\u305d\u306e\u3046\u3048\u3067\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u30fb\u624b\u6570\u6599\u3068\u306e\u640d\u76ca\u5206\u5c90\u307e\u3067\u9806\u306b\u898b\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u306a\u305c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u304c\u767a\u751f\u3059\u308b\u306e\u304b\uff1f\u4ed5\u7d44\u307f\u3092\u76f4\u611f\u7684\u306b\u7406\u89e3\u3059\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u7406\u89e3\u3059\u308b\u9375\u306f\u3001<strong>DEX\u304c\u4fa1\u683c\u3092\u300c\u81ea\u52d5\u3067\u8abf\u6574\u3059\u308b\u4ed5\u7d44\u307f(AMM)\u300d\u3067\u52d5\u3044\u3066\u3044\u308b<\/strong>\u70b9\u306b\u3042\u308a\u307e\u3059\u3002\u3053\u3053\u3067\u306f\u7d30\u90e8\u3088\u308a\u3082\u3001\u640d\u5931\u304c\u751f\u307e\u308c\u308b\u6d41\u308c\u3092\u30a4\u30e1\u30fc\u30b8\u3067\u3064\u304b\u3080\u3053\u3068\u3092\u512a\u5148\u3057\u307e\u3059\u3002AMM\u305d\u306e\u3082\u306e\u306e\u8a73\u3057\u3044\u4ed5\u7d44\u307f\u306f<a href=\"https:\/\/ichizenholdings.co.jp\/media\/column\/what-is-dex\/\" target=\"_blank\" rel=\"noopener\">DEX(\u5206\u6563\u578b\u53d6\u5f15\u6240)\u306e\u8a18\u4e8b<\/a>\u3084<a href=\"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/lp-token\/\" target=\"_blank\" rel=\"noopener\">LP\u30c8\u30fc\u30af\u30f3\u306e\u8a18\u4e8b<\/a>\u3067\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3068\u5b9a\u6570\u7a4d(x\u00d7y=k)\u306e\u95a2\u4fc2<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">DEX\u3067\u306f\u3001\u5229\u7528\u8005\u304c2\u3064\u306e\u901a\u8ca8\u3092\u30da\u30a2\u3067\u9810\u3051\u308b\u300c\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u300d\u306b\u3088\u3063\u3066\u53d6\u5f15\u306e\u5143\u624b(\u30d7\u30fc\u30eb)\u304c\u4f5c\u3089\u308c\u307e\u3059\u3002\u591a\u304f\u306eAMM\u306f<strong>\u300c2\u3064\u306e\u901a\u8ca8\u306e\u6570\u91cf\u3092\u304b\u3051\u305f\u5024\u304c\u4e00\u5b9a\u306b\u306a\u308b(x\u00d7y=k)\u300d\u3068\u3044\u3046\u6570\u5f0f(\u5b9a\u6570\u7a4d\u30e2\u30c7\u30eb)<\/strong>\u3067\u4fa1\u683c\u3092\u6c7a\u3081\u3066\u3044\u307e\u3059\u3002\u305f\u3068\u3048\u3070ETH\u3068USDC\u306e\u30d7\u30fc\u30eb\u306a\u3089\u3001ETH\u306e\u679a\u6570\u00d7USDC\u306e\u679a\u6570\u304c\u5e38\u306b\u4e00\u5b9a\u306b\u306a\u308b\u3088\u3046\u4fdd\u305f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4ed5\u7d44\u307f\u306e\u304a\u304b\u3052\u3067\u76f8\u624b\u304c\u3044\u306a\u304f\u3066\u3082\u4ea4\u63db\u304c\u6210\u7acb\u3057\u307e\u3059\u304c\u3001\u540c\u6642\u306b<strong>\u300c\u4fa1\u683c\u304c\u52d5\u304f\u3068\u30d7\u30fc\u30eb\u5185\u306e\u901a\u8ca8\u306e\u679a\u6570\u69cb\u6210\u304c\u81ea\u52d5\u3067\u5909\u308f\u308b\u300d<\/strong>\u3068\u3044\u3046\u6027\u8cea\u3082\u751f\u307f\u307e\u3059\u3002\u3053\u3053\u304c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u767a\u751f\u6e90\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5024\u4e0a\u304c\u308a\u3057\u305f\u901a\u8ca8\u304c\u300c\u81ea\u52d5\u3067\u58f2\u3089\u308c\u308b\u300d\u304b\u3089\u5dee\u304c\u51fa\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7247\u65b9\u306e\u901a\u8ca8(\u4f8b:ETH)\u306e\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u3068\u3001\u5916\u90e8\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u30d7\u30fc\u30eb\u3067\u5b89\u304f\u306a\u3063\u305fETH\u3092\u8cb7\u3063\u3066\u3044\u304d\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u3001<strong>\u30d7\u30fc\u30eb\u5185\u306eETH\u306f\u6e1b\u308a\u3001USDC\u304c\u5897\u3048\u307e\u3059<\/strong>\u3002\u30d7\u30fc\u30eb\u306f\u5e38\u306bx\u00d7y=k\u3092\u4fdd\u3064\u305f\u3081\u3001\u5024\u4e0a\u304c\u308a\u3057\u305f\u901a\u8ca8\u3092\u81ea\u52d5\u7684\u306b\u624b\u653e\u3057\u3001\u5024\u4e0b\u304c\u308a\u5074\u3092\u5897\u3084\u3059\u2014\u2014\u3064\u307e\u308a<strong>\u300c\u9ad8\u304f\u306a\u3063\u305f\u3082\u306e\u3092\u58f2\u308a\u3001\u5b89\u304f\u306a\u3063\u305f\u3082\u306e\u3092\u8cb7\u3044\u5897\u3059\u300d\u9006\u306e\u52d5\u304d<\/strong>\u3092\u52dd\u624b\u306b\u884c\u3046\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3057LP\u305b\u305a2\u3064\u306e\u901a\u8ca8\u3092\u305d\u306e\u307e\u307e\u6301\u3063\u3066\u3044\u308c\u3070\u3001\u5024\u4e0a\u304c\u308a\u3057\u305fETH\u3092\u307e\u308b\u3054\u3068\u4fdd\u6709\u3067\u304d\u307e\u3057\u305f\u3002\u3068\u3053\u308d\u304cLP\u3057\u3066\u3044\u308b\u3068\u3001\u5024\u4e0a\u304c\u308a\u5206\u306e\u4e00\u90e8\u3092\u58f2\u3089\u3055\u308c\u305f\u72b6\u614b\u306b\u306a\u308a\u307e\u3059\u3002<strong>\u3053\u306e\u300c\u5358\u7d14\u4fdd\u6709\u306a\u3089\u3082\u3063\u3068\u5897\u3048\u3066\u3044\u305f\u306f\u305a\u300d\u3068\u306e\u5dee\u984d\u3053\u305d\u304c\u3001\u5f15\u304d\u51fa\u3059\u6642\u306b\u898b\u3048\u308b\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u6b63\u4f53<\/strong>\u3067\u3059\u3002\u4fa1\u683c\u304c\u52d5\u304f\u65b9\u5411(\u4e0a\u3067\u3082\u4e0b\u3067\u3082)\u306b\u95a2\u4fc2\u306a\u304f\u767a\u751f\u3057\u3001\u52d5\u304d\u304c\u5927\u304d\u3044\u307b\u3069\u5dee\u3082\u5e83\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u8a08\u7b97\u5f0f\u3068\u640d\u5931\u65e9\u898b\u8868<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u611f\u899a\u8ad6\u3067\u306f\u306a\u304f\u3001<strong>\u4fa1\u683c\u306e\u5909\u52d5\u500d\u7387\u3055\u3048\u5206\u304b\u308c\u3070\u6570\u5f0f\u3067\u6b63\u78ba\u306b\u8a08\u7b97\u3067\u304d\u307e\u3059<\/strong>\u3002\u3053\u3053\u3067\u306f\u516c\u5f0f\u3068\u3001\u5b9f\u969b\u306b\u8a08\u7b97\u3057\u305f\u640d\u5931\u65e9\u898b\u8868\u3092\u793a\u3057\u307e\u3059\u3002\u6570\u5024\u306f\u5f53\u7de8\u96c6\u90e8\u304c\u8a08\u7b97\u5f0f\u3067\u7b97\u51fa\u3057\u305f\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8a08\u7b97\u5f0f\uff5cIL = 2\u221ak \u00f7 (1+k) \u2212 1<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">50:50\u306e\u4ee3\u8868\u7684\u306a\u30d7\u30fc\u30eb\u3067\u306f\u3001<strong>\u7247\u65b9\u306e\u901a\u8ca8\u306e\u4fa1\u683c\u304c\u300ck\u500d\u300d\u306b\u306a\u3063\u305f\u3068\u304d\u306e\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6b21\u306e\u5f0f\u3067\u6c42\u3081\u3089\u308c\u307e\u3059<\/strong>\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>IL = 2 \u00d7 \u221ak \u00f7 (1 + k) \u2212 1<\/strong>(k = \u4fa1\u683c\u306e\u5909\u52d5\u500d\u7387)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d50\u679c\u306f\u30de\u30a4\u30ca\u30b9\u306e\u5272\u5408(\u5358\u7d14\u4fdd\u6709\u306b\u5bfe\u3057\u3066\u3069\u308c\u3060\u3051\u8cc7\u7523\u304c\u6e1b\u308b\u304b)\u3067\u51fa\u307e\u3059\u3002\u91cd\u8981\u306a\u306e\u306f\u3001<strong>\u3053\u306e\u5f0f\u306f\u300c\u7247\u65b9\u306e\u901a\u8ca8\u304c\u52d5\u3044\u305f\u500d\u7387\u300d\u3060\u3051\u3067\u6c7a\u307e\u308a\u3001\u5024\u4e0a\u304c\u308a\u30fb\u5024\u4e0b\u304c\u308a\u306e\u3069\u3061\u3089\u3067\u3082\u540c\u3058\u5f62\u3067\u640d\u5931\u304c\u51fa\u308b<\/strong>\u70b9\u3067\u3059\u3002\u6b21\u306e\u65e9\u898b\u8868\u3067\u5177\u4f53\u7684\u306a\u6570\u5b57\u3092\u78ba\u8a8d\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u640d\u5931\u65e9\u898b\u8868\uff5c\u4fa1\u683c\u500d\u7387\u3054\u3068\u306e\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9<\/h3>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table\"><table style=\"--table-width:800px;font-size:14px;\"><thead><tr><th>\u4fa1\u683c\u306e\u5909\u52d5\u500d\u7387<\/th><th>\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9<\/th><th>\u88dc\u8db3<\/th><\/tr><\/thead><tbody><tr><td>1.25\u500d(\u307e\u305f\u306f0.8\u500d)<\/td><td>\u7d04 -0.6%<\/td><td>\u5c0f\u3055\u306a\u5909\u52d5\u306a\u3089\u5f71\u97ff\u306f\u8efd\u5fae<\/td><\/tr><tr><td>1.5\u500d(\u307e\u305f\u306f0.67\u500d)<\/td><td>\u7d04 -2.0%<\/td><td>\u2014<\/td><\/tr><tr><td>2\u500d(\u307e\u305f\u306f0.5\u500d\/\u534a\u5024)<\/td><td>\u7d04 -5.7%<\/td><td>\u4e0a\u6607\u3067\u3082\u534a\u5024\u3067\u3082\u540c\u3058\u640d\u5931\u7387<\/td><\/tr><tr><td>3\u500d(\u307e\u305f\u306f0.33\u500d)<\/td><td>\u7d04 -13.4%<\/td><td>\u2014<\/td><\/tr><tr><td>4\u500d(\u307e\u305f\u306f0.25\u500d)<\/td><td>\u7d04 -20.0%<\/td><td>\u2014<\/td><\/tr><tr><td>5\u500d(\u307e\u305f\u306f0.2\u500d)<\/td><td>\u7d04 -25.5%<\/td><td>\u2014<\/td><\/tr><tr><td>10\u500d(\u307e\u305f\u306f0.1\u500d)<\/td><td>\u7d04 -42.5%<\/td><td>\u7247\u65b9\u304c\u6025\u9a30\u30fb\u66b4\u843d\u3059\u308b\u3068\u751a\u5927<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u8868\u304b\u3089\u308f\u304b\u308b\u6700\u5927\u306e\u30dd\u30a4\u30f3\u30c8\u306f\u3001<strong>\u640d\u5931\u7387\u304c\u300c\u4e0a\u304c\u3063\u305f\u304b\u4e0b\u304c\u3063\u305f\u304b\u300d\u3067\u306f\u306a\u304f\u300c\u4fa1\u683c\u6bd4\u304c\u3069\u308c\u3060\u3051\u30ba\u30ec\u305f\u304b\u300d\u3067\u6c7a\u307e\u308b<\/strong>\u3053\u3068\u3067\u3059\u30022\u500d\u306b\u4e0a\u304c\u3063\u3066\u3082\u534a\u5024\u306b\u4e0b\u304c\u3063\u3066\u3082\u3001\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u540c\u3058\u7d045.7%\u3002\u305d\u3057\u3066<strong>\u5909\u52d5\u304c\u5927\u304d\u3044\u307b\u3069\u52a0\u901f\u5ea6\u7684\u306b\u640d\u5931\u304c\u81a8\u3089\u3080<\/strong>\u305f\u3081\u3001\u5024\u52d5\u304d\u306e\u6fc0\u3057\u3044\u901a\u8ca8\u30da\u30a2\u307b\u3069\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u81ea\u5206\u3067\u8a08\u7b97\u3059\u308b\u306e\u304c\u9762\u5012\u306a\u3089\u8a08\u7b97\u30c4\u30fc\u30eb\u3092\u4f7f\u3046<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b9f\u969b\u306e\u904b\u7528\u3067\u306f\u3001\u9810\u3051\u305f\u6642\u3068\u73fe\u5728\u306e\u4fa1\u683c\u3092\u5165\u529b\u3059\u308b\u3060\u3051\u3067\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u81ea\u52d5\u8a08\u7b97\u3057\u3066\u304f\u308c\u308b<strong>\u30aa\u30f3\u30e9\u30a4\u30f3\u306e\u8a08\u7b97\u30c4\u30fc\u30eb(IL calculator)<\/strong>\u304c\u8907\u6570\u516c\u958b\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u624b\u6570\u6599\u53ce\u5165(APR)\u3082\u52a0\u5473\u3057\u3066\u300c\u30c8\u30fc\u30bf\u30eb\u3067\u5f97\u304b\u640d\u304b\u300d\u3092\u8a66\u7b97\u3067\u304d\u308b\u3082\u306e\u3082\u3042\u308b\u305f\u3081\u3001LP\u3092\u59cb\u3081\u308b\u524d\u306b\u4e00\u5ea6\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3057\u3066\u304a\u304f\u3068\u5b89\u5fc3\u3067\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u5bfe\u7b56\u30fb\u8efd\u6e1b\u65b9\u6cd5<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306fLP\u306b\u3064\u304d\u307e\u3068\u3046\u30ea\u30b9\u30af\u3067\u3059\u304c\u3001<strong>\u30da\u30a2\u306e\u9078\u3073\u65b9\u3084\u904b\u7528\u65b9\u6cd5\u3067\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059<\/strong>\u3002\u4ee3\u8868\u7684\u306a\u5bfe\u7b56\u306f\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\" data-colset=\"col1\"><div class=\"cap_box_ttl\"><span>\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u4e3b\u306a\u5bfe\u7b56<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list is-style-good_list\">\n<li>\u4fa1\u683c\u304c\u9023\u52d5\u3057\u3084\u3059\u3044\u30da\u30a2\u3092\u9078\u3076(\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u540c\u58eb\u30fb\u540c\u3058\u8cc7\u7523\u306e\u6d3e\u751f\u30da\u30a2\u7b49)<\/li>\n\n\n\n<li>\u624b\u6570\u6599\u53ce\u5165(APR)\u304cIL\u3092\u4e0a\u56de\u308b\u30d7\u30fc\u30eb\u3092\u9078\u3076(\u640d\u76ca\u5206\u5c90\u3067\u5224\u65ad)<\/li>\n\n\n\n<li>\u4fa1\u683c\u304c\u5143\u306b\u623b\u308b\u307e\u3067\u5f15\u304d\u51fa\u3055\u306a\u3044(\u78ba\u5b9a\u3055\u305b\u306a\u3044)<\/li>\n\n\n\n<li>\u96c6\u4e2d\u6d41\u52d5\u6027\u306a\u3069\u3001\u8cc7\u672c\u52b9\u7387\u306e\u9ad8\u3044\u65b0\u3057\u3044AMM\u3092\u6d3b\u7528\u3059\u308b<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">\u57fa\u672c\uff5c\u30b9\u30c6\u30fc\u30d6\u30eb\u3084\u76f8\u95a2\u306e\u9ad8\u3044\u30da\u30a2\u3092\u9078\u3076<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6700\u3082\u78ba\u5b9f\u306a\u5bfe\u7b56\u306f\u3001<strong>\u4fa1\u683c\u6bd4\u304c\u52d5\u304d\u306b\u304f\u3044\u30da\u30a2\u3092\u9078\u3076<\/strong>\u3053\u3068\u3067\u3059\u3002USDC\u3068USDT\u306e\u3088\u3046\u306a\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u540c\u58eb\u3084\u3001ETH\u3068\u30b9\u30c6\u30fc\u30ad\u30f3\u30b0\u7248ETH\u306e\u3088\u3046\u306b\u5024\u52d5\u304d\u304c\u307b\u307c\u9023\u52d5\u3059\u308b\u30da\u30a2\u3067\u3042\u308c\u3070\u3001\u4fa1\u683c\u6bd4\u306e\u30ba\u30ec\u304c\u5c0f\u3055\u304f\u3001\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3082\u3054\u304f\u308f\u305a\u304b\u306b\u6291\u3048\u3089\u308c\u307e\u3059\u3002DeFi\u521d\u5fc3\u8005\u304c\u307e\u305a\u89e6\u308c\u308b\u306a\u3089\u3001\u3053\u3046\u3057\u305f\u4f4e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u30da\u30a2\u304c\u7121\u96e3\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5fdc\u7528\uff5c\u96c6\u4e2d\u6d41\u52d5\u6027\u3067\u8cc7\u672c\u52b9\u7387\u3092\u4e0a\u3052\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8fd1\u5e74\u306e\u4e3b\u8981DEX\u306f\u3001<strong>\u6d41\u52d5\u6027\u3092\u7279\u5b9a\u306e\u4fa1\u683c\u5e2f\u306b\u96c6\u4e2d\u3055\u305b\u3066\u63d0\u4f9b\u3059\u308b\u300c\u96c6\u4e2d\u6d41\u52d5\u6027\u300d<\/strong>\u3068\u3044\u3046\u4ed5\u7d44\u307f\u3092\u63a1\u7528\u3057\u3066\u3044\u307e\u3059\u3002\u72ed\u3044\u4fa1\u683c\u5e2f\u306b\u7d5e\u308b\u3053\u3068\u3067\u5c11\u306a\u3044\u8cc7\u91d1\u3067\u3082\u591a\u304f\u306e\u624b\u6570\u6599\u3092\u7a3c\u3052\u308b\u4e00\u65b9\u3001\u4fa1\u683c\u304c\u305d\u306e\u5e2f\u304b\u3089\u5916\u308c\u308b\u3068\u52b9\u7387\u304c\u843d\u3061\u308b\u306a\u3069\u3001\u6271\u3044\u306b\u306f\u6163\u308c\u304c\u5fc5\u8981\u3067\u3059\u3002\u624b\u6570\u6599\u52b9\u7387\u3092\u9ad8\u3081\u3066IL\u3092\u76f8\u6bba\u3057\u3084\u3059\u304f\u3059\u308b\u72d9\u3044\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u4e0a\u7d1a\u8005\u5411\u3051\u306e\u9078\u629e\u80a2\u3068\u6349\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u624b\u6570\u6599\u53ce\u5165\u3068\u306e\u640d\u76ca\u5206\u5c90\uff5cAPR\u304cIL\u3092\u4e0a\u56de\u308b\u304b\u3067\u5224\u65ad\u3059\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u304c<strong>\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u8a9e\u308b\u3046\u3048\u3067\u6700\u3082\u5b9f\u52d9\u7684\u3067\u3001\u591a\u304f\u306e\u89e3\u8aac\u304c\u629c\u3051\u3066\u3044\u308b\u30dd\u30a4\u30f3\u30c8<\/strong>\u3067\u3059\u3002LP\u3067\u5f97\u3089\u308c\u308b\u306e\u306fIL\u3060\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u53d6\u5f15\u306e\u305f\u3073\u306b<strong>\u30b9\u30ef\u30c3\u30d7\u624b\u6570\u6599(\uff1dLP\u306e\u5831\u916c)<\/strong>\u304c\u5165\u308a\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u5b9f\u969b\u306e\u640d\u76ca\u306f\u6b21\u306e\u30d0\u30e9\u30f3\u30b9\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>\u5b9f\u8cea\u640d\u76ca \u2252 \u624b\u6570\u6599\u53ce\u5165(APR) \u2212 \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3068\u3048\u3070\u4fa1\u683c\u304c2\u500d\u306b\u52d5\u3044\u3066IL\u304c\u7d045.7%\u767a\u751f\u3057\u3066\u3082\u3001\u305d\u306e\u9593\u306b\u53d7\u3051\u53d6\u3063\u305f\u624b\u6570\u6599\u304c\u8cc7\u7523\u306e8%\u306b\u9054\u3057\u3066\u3044\u308c\u3070\u3001<strong>\u5dee\u3057\u5f15\u304d\u3067\u306f\u30d7\u30e9\u30b9<\/strong>\u306b\u306a\u308a\u307e\u3059\u3002\u9006\u306b\u3001\u5e74\u5229(APR)\u304c\u9ad8\u304f\u898b\u3048\u3066\u3082\u5024\u52d5\u304d\u306e\u6fc0\u3057\u3044\u30da\u30a2\u3067IL\u304c\u624b\u6570\u6599\u3092\u98df\u3044\u6f70\u305b\u3070\u3001<strong>\u300c\u5229\u56de\u308a\u306f\u4ed8\u3044\u305f\u306e\u306b\u5358\u7d14\u4fdd\u6709\u3088\u308a\u8ca0\u3051\u3066\u3044\u305f\u300d<\/strong>\u3068\u3044\u3046\u7d50\u679c\u306b\u306a\u308a\u307e\u3059\u3002<strong>APR\u306e\u6570\u5b57\u3060\u3051\u3067\u98db\u3073\u3064\u304b\u305a\u3001\u60f3\u5b9a\u3059\u308b\u4fa1\u683c\u5909\u52d5\u3067\u306eIL\u3068\u5fc5\u305a\u6bd4\u8f03\u3059\u308b<\/strong>\u2014\u2014\u3053\u308c\u304cLP\u3067\u8ca0\u3051\u306a\u3044\u305f\u3081\u306e\u6700\u91cd\u8981\u306e\u5224\u65ad\u8ef8\u3067\u3059\u3002\u30a4\u30fc\u30eb\u30c9\u30d5\u30a1\u30fc\u30df\u30f3\u30b0\u306e\u5229\u56de\u308a\u306e\u8003\u3048\u65b9\u306f<a href=\"https:\/\/ichizenholdings.co.jp\/media\/stable-investments\/defi\/yield-farming\/\" target=\"_blank\" rel=\"noopener\">\u30a4\u30fc\u30eb\u30c9\u30d5\u30a1\u30fc\u30df\u30f3\u30b0\u306e\u8a18\u4e8b<\/a>\u3082\u3042\u308f\u305b\u3066\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">ICHIZEN Capital\u306e\u8996\u70b9\uff5c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3068\u7a0e\u91d1\u306e\u843d\u3068\u3057\u7a74<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u591a\u304f\u306e\u89e3\u8aac\u304c\u89e6\u308c\u3066\u3044\u306a\u3044\u306e\u304c<strong>\u7a0e\u91d1<\/strong>\u3067\u3059\u3002\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u542b\u307f(\u672a\u78ba\u5b9a)\u306e\u640d\u5931\u306a\u306e\u3067\u3001\u305d\u308c\u81ea\u4f53\u304c\u76f4\u63a5\u8ab2\u7a0e\u3055\u308c\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057<strong>LP\u904b\u7528\u306e\u5468\u8fba\u3067\u306f\u3001\u601d\u308f\u306c\u3068\u3053\u308d\u3067\u8ab2\u7a0e\u30a4\u30d9\u30f3\u30c8\u304c\u767a\u751f\u3057\u307e\u3059<\/strong>\u3002\u3053\u3053\u3092\u77e5\u3089\u305a\u306b\u59cb\u3081\u308b\u3068\u3001\u7a0e\u52d9\u3067\u8db3\u3092\u3059\u304f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u65e5\u672c\u3067\u306f\u3001<strong>\u53d7\u3051\u53d6\u3063\u305f\u30b9\u30ef\u30c3\u30d7\u624b\u6570\u6599\u3084LP\u5831\u916c(\u30ac\u30d0\u30ca\u30f3\u30b9\u30c8\u30fc\u30af\u30f3\u7b49)\u306f\u3001\u53d6\u5f97\u3057\u305f\u6642\u70b9\u306e\u6642\u4fa1\u304c\u539f\u5247\u300c\u96d1\u6240\u5f97\u300d\u3068\u3057\u3066\u8ab2\u7a0e<\/strong>\u3055\u308c\u307e\u3059\u3002\u3055\u3089\u306b\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u3084\u5f15\u304d\u51fa\u3057\u306e\u969b\u306b\u901a\u8ca8\u3092\u5225\u306e\u901a\u8ca8\u3078\u4ea4\u63db\u3059\u308c\u3070\u3001\u305d\u306e\u4ea4\u63db\u6642\u70b9\u3067\u640d\u76ca\u304c\u78ba\u5b9a\u3057\u3001\u8ab2\u7a0e\u5bfe\u8c61\u306b\u306a\u308a\u5f97\u307e\u3059\u3002<strong>\u300c\u65e5\u672c\u5186\u306b\u63db\u3048\u3066\u3044\u306a\u3044\u304b\u3089\u975e\u8ab2\u7a0e\u300d\u3067\u306f\u306a\u3044<\/strong>\u70b9\u304c\u3001LP\u904b\u7528\u3067\u3068\u308a\u308f\u3051\u898b\u843d\u3068\u3055\u308c\u304c\u3061\u306a\u843d\u3068\u3057\u7a74\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3064\u307e\u308aLP\u904b\u7528\u306f\u3001<strong>\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u4fa1\u683c\u30ea\u30b9\u30af)\u30fb\u624b\u6570\u6599\u53ce\u5165\u30fb\u7a0e\u91d1\u306e3\u3064\u3092\u30bb\u30c3\u30c8\u3067\u898b\u3066\u521d\u3081\u3066\u300c\u672c\u5f53\u306b\u5f97\u304b\u300d\u304c\u5206\u304b\u308a\u307e\u3059<\/strong>\u3002\u542b\u307f\u640d\u306eIL\u306b\u6c17\u3092\u53d6\u3089\u308c\u3066\u7a0e\u52d9\u3092\u8efd\u8996\u3059\u308b\u3068\u3001\u5229\u76ca\u306b\u8ab2\u7a0e\u3055\u308c\u308b\u4e00\u65b9\u3067IL\u306f\u640d\u76ca\u901a\u7b97\u3057\u306b\u304f\u3044\u3001\u3068\u3044\u3046\u975e\u5bfe\u79f0\u306a\u8ca0\u62c5\u306b\u306a\u308a\u304b\u306d\u307e\u305b\u3093\u3002\u6697\u53f7\u8cc7\u7523\u306e\u7a0e\u91d1\u306e\u5168\u4f53\u50cf\u306f<a href=\"https:\/\/ichizenholdings.co.jp\/media\/column\/crypto-tax-japan\/\" target=\"_blank\" rel=\"noopener\">\u4eee\u60f3\u901a\u8ca8\u306e\u7a0e\u91d1\u306e\u8a18\u4e8b<\/a>\u3067\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002\u5224\u65ad\u306b\u8ff7\u3046\u5834\u5408\u306f\u56fd\u7a0e\u5e81\u306e\u60c5\u5831\u3084\u7a0e\u7406\u58eb\u306b\u78ba\u8a8d\u3059\u308b\u306e\u304c\u78ba\u5b9f\u3067\u3059\u3002<\/p>\n\n\n<div class=\"swell-block-balloon\"><div class=\"c-balloon -bln-left\" data-col=\"gray\"><div class=\"c-balloon__icon -square\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/03\/DSC00474\u306e\u30b3\u30d4\u30fc2-removebg-preview-150x150.png\" alt=\"\" class=\"c-balloon__iconImg\" width=\"80px\" height=\"80px\"><span class=\"c-balloon__iconName\">\u6c34\u91ce \u502b\u592a\u90ce<\/span><\/div><div class=\"c-balloon__body -speaking -border-none\"><div class=\"c-balloon__text\">\n<p><span class=\"swl-fz u-fz-s\">\u5b9f\u52d9\u3067\u6016\u3044\u306e\u306f\u3001IL\u305d\u306e\u3082\u306e\u3088\u308a\u300c\u5831\u916c\u306b\u8ab2\u7a0e\u3055\u308c\u308b\u306e\u306b\u3001IL\u306f\u542b\u307f\u640d\u3067\u76f8\u6bba\u3057\u3065\u3089\u3044\u300d\u3068\u3044\u3046\u306d\u3058\u308c\u3067\u3059\u3002\u5229\u56de\u308a\u3060\u3051\u3092\u898b\u3066\u8907\u96d1\u306a\u30da\u30a2\u306b\u9810\u3051\u308b\u3068\u3001\u7a0e\u91d1\u3068\u4fa1\u683c\u30ea\u30b9\u30af\u306e\u4e8c\u91cd\u306e\u8ca0\u62c5\u306b\u306a\u308a\u304c\u3061\u3002\u307e\u305a\u306f\u30b9\u30c6\u30fc\u30d6\u30eb\u306e\u4f4e\u30ea\u30b9\u30af\u306a\u30da\u30a2\u3067\u3001\u624b\u6570\u6599\u30fbIL\u30fb\u7a0e\u91d1\u306e\u95a2\u4fc2\u3092\u4f53\u611f\u3057\u3066\u304b\u3089\u898f\u6a21\u3092\u4e0a\u3052\u308b\u306e\u304c\u5805\u5b9f\u3067\u3059\u3002\u53d6\u5f15\u306e\u90fd\u5ea6\u3001\u65e5\u6642\u3068\u6642\u4fa1\u3092\u8a18\u9332\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<span class=\"c-balloon__shapes\"><span class=\"c-balloon__before\"><\/span><span class=\"c-balloon__after\"><\/span><\/span><\/div><\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\">\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n<div class=\"swell-block-faq\" data-q=\"fill-main\" data-a=\"fill-custom\">\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3068\u306f\u4f55\u3067\u3059\u304b\uff1f\u308f\u304b\u308a\u3084\u3059\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">DEX\u306b2\u3064\u306e\u901a\u8ca8\u3092\u30da\u30a2\u3067\u9810\u3051\u308b\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3092\u3057\u305f\u3068\u304d\u3001\u305d\u306e\u307e\u307e\u4fdd\u6709\u3057\u3066\u3044\u305f\u5834\u5408\u3068\u6bd4\u3079\u3066\u8cc7\u7523\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3059\u308b\u300c\u5dee\u984d\u300d\u306e\u3053\u3068\u3067\u3059\u3002\u5b9f\u969b\u306b\u304a\u91d1\u304c\u6e1b\u308b\u3068\u3044\u3046\u3088\u308a\u3001\u300cLP\u305b\u305a\u6301\u3063\u3066\u3044\u305f\u65b9\u304c\u5f97\u3060\u3063\u305f\u300d\u3068\u3044\u3046\u6a5f\u4f1a\u640d\u5931\u3092\u6307\u3057\u307e\u3059\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u306a\u305c\u767a\u751f\u3059\u308b\u306e\u3067\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">AMM\u304c\u30d7\u30fc\u30eb\u306e\u6bd4\u7387\u3092\u4e00\u5b9a(x\u00d7y=k)\u306b\u4fdd\u3068\u3046\u3068\u3059\u308b\u305f\u3081\u3001\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u305f\u901a\u8ca8\u3092\u81ea\u52d5\u7684\u306b\u58f2\u308a\u3001\u4e0b\u304c\u3063\u305f\u901a\u8ca8\u3092\u8cb7\u3044\u5897\u3059\u304b\u3089\u3067\u3059\u3002\u3053\u306e\u81ea\u52d5\u30ea\u30d0\u30e9\u30f3\u30b9\u306b\u3088\u308a\u3001\u5358\u7d14\u4fdd\u6709\u306a\u3089\u307e\u308b\u3054\u3068\u5f97\u3089\u308c\u305f\u306f\u305a\u306e\u5024\u4e0a\u304c\u308a\u5206\u306e\u4e00\u90e8\u3092\u624b\u653e\u3057\u305f\u72b6\u614b\u306b\u306a\u308a\u3001\u5dee\u984d\u304c\u751f\u3058\u307e\u3059\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u306a\u305c\u300c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8(\u4e00\u6642\u7684)\u300d\u3068\u547c\u3076\u306e\u3067\u3059\u304b\uff1f\u56de\u907f\u3067\u304d\u307e\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u6bd4\u304c\u9810\u3051\u305f\u6642\u306e\u6c34\u6e96\u306b\u623b\u308c\u3070\u640d\u5931\u304c\u6d88\u3048\u308b\u305f\u3081\u300c\u4e00\u6642\u7684\u300d\u3068\u547c\u3070\u308c\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u4fa1\u683c\u304c\u623b\u308b\u307e\u3067\u5f15\u304d\u51fa\u3055\u306a\u3051\u308c\u3070\u78ba\u5b9a\u3092\u907f\u3051\u3089\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u623b\u3089\u306a\u3044\u307e\u307e\u5f15\u304d\u51fa\u3059\u3068\u640d\u5931\u306f\u78ba\u5b9a\u3059\u308b\u305f\u3081\u3001\u5fc5\u305a\u56de\u907f\u3067\u304d\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3069\u3046\u8a08\u7b97\u3057\u307e\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">50:50\u306e\u30d7\u30fc\u30eb\u3067\u306f\u300cIL = 2 \u00d7 \u221ak \u00f7 (1+k) \u2212 1\u300d\u3067\u6c42\u3081\u3089\u308c\u307e\u3059(k\u306f\u7247\u65b9\u306e\u901a\u8ca8\u306e\u4fa1\u683c\u5909\u52d5\u500d\u7387)\u3002\u624b\u8a08\u7b97\u304c\u9762\u5012\u306a\u5834\u5408\u306f\u3001\u4fa1\u683c\u3092\u5165\u529b\u3059\u308b\u3060\u3051\u3067\u7b97\u51fa\u3067\u304d\u308b\u30aa\u30f3\u30e9\u30a4\u30f3\u306eIL\u8a08\u7b97\u30c4\u30fc\u30eb\u3092\u4f7f\u3046\u3068\u7c21\u5358\u3067\u3059\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u4fa1\u683c\u304c2\u500d\u30fb5\u500d\u306b\u306a\u308b\u3068\u640d\u5931\u306f\u4f55%\u3067\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u304c2\u500d\u306b\u306a\u308b\u3068\u7d045.7%\u30015\u500d\u3067\u7d0425.5%\u306e\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306b\u306a\u308a\u307e\u3059\u3002\u4e0a\u6607\u3067\u3082\u4e0b\u843d\u3067\u3082\u540c\u3058\u3067\u3001\u534a\u5024(0.5\u500d)\u30822\u500d\u3068\u540c\u3058\u7d045.7%\u3067\u3059\u3002\u4fa1\u683c\u6bd4\u306e\u30ba\u30ec\u304c\u5927\u304d\u3044\u307b\u3069\u52a0\u901f\u5ea6\u7684\u306b\u640d\u5931\u304c\u81a8\u3089\u307f\u307e\u3059\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u907f\u3051\u308b\u30fb\u8efd\u6e1b\u3059\u308b\u65b9\u6cd5\u306f\u3042\u308a\u307e\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u540c\u58eb\u3084\u5024\u52d5\u304d\u304c\u9023\u52d5\u3059\u308b\u30da\u30a2\u3092\u9078\u3076\u3068\u3001\u4fa1\u683c\u6bd4\u306e\u30ba\u30ec\u304c\u5c0f\u3055\u304fIL\u3092\u6291\u3048\u3089\u308c\u307e\u3059\u3002\u52a0\u3048\u3066\u3001\u624b\u6570\u6599\u53ce\u5165(APR)\u304cIL\u3092\u4e0a\u56de\u308b\u30d7\u30fc\u30eb\u3092\u9078\u3076\u3001\u4fa1\u683c\u304c\u623b\u308b\u307e\u3067\u5f15\u304d\u51fa\u3055\u306a\u3044\u3001\u3068\u3044\u3063\u305f\u5bfe\u7b56\u3082\u6709\u52b9\u3067\u3059\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u624b\u6570\u6599\u53ce\u5165(APR)\u304c\u3042\u308c\u3070\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u6c17\u306b\u3057\u306a\u304f\u3066\u3044\u3044\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u3044\u3044\u3048\u3002\u5b9f\u8cea\u640d\u76ca\u306f\u300c\u624b\u6570\u6599\u53ce\u5165 \u2212 \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u300d\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002APR\u304c\u9ad8\u304f\u898b\u3048\u3066\u3082\u3001\u5024\u52d5\u304d\u306e\u6fc0\u3057\u3044\u30da\u30a2\u3067IL\u304c\u624b\u6570\u6599\u3092\u4e0a\u56de\u308c\u3070\u5358\u7d14\u4fdd\u6709\u306b\u8ca0\u3051\u307e\u3059\u3002\u60f3\u5b9a\u3059\u308b\u4fa1\u683c\u5909\u52d5\u3067\u306eIL\u3068APR\u3092\u5fc5\u305a\u6bd4\u8f03\u3057\u3066\u5224\u65ad\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-faq__item\"><h3 class=\"faq_q\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306b\u7a0e\u91d1\u306f\u304b\u304b\u308a\u307e\u3059\u304b\uff1f<\/h3><div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u542b\u307f\u640d\u3067\u3042\u308bIL\u81ea\u4f53\u306b\u76f4\u63a5\u8ab2\u7a0e\u3055\u308c\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u305f\u3060\u3057\u3001\u53d7\u3051\u53d6\u3063\u305f\u30b9\u30ef\u30c3\u30d7\u624b\u6570\u6599\u3084LP\u5831\u916c\u3001\u901a\u8ca8\u306e\u4ea4\u63db\u3067\u5f97\u305f\u5229\u76ca\u306f\u65e5\u672c\u3067\u306f\u539f\u5247\u300c\u96d1\u6240\u5f97\u300d\u3068\u3057\u3066\u8ab2\u7a0e\u5bfe\u8c61\u3067\u3059\u3002\u65e5\u672c\u5186\u306b\u63db\u3048\u3066\u3044\u306a\u304f\u3066\u3082\u8ab2\u7a0e\u30a4\u30d9\u30f3\u30c8\u304c\u767a\u751f\u3057\u5f97\u308b\u70b9\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<\/div><\/div>\n<\/div>\n<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@id\":\"#FAQContents\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3068\u306f\u4f55\u3067\u3059\u304b\uff1f\u308f\u304b\u308a\u3084\u3059\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>DEX\u306b2\u3064\u306e\u901a\u8ca8\u3092\u30da\u30a2\u3067\u9810\u3051\u308b\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3092\u3057\u305f\u3068\u304d\u3001\u305d\u306e\u307e\u307e\u4fdd\u6709\u3057\u3066\u3044\u305f\u5834\u5408\u3068\u6bd4\u3079\u3066\u8cc7\u7523\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3059\u308b\u300c\u5dee\u984d\u300d\u306e\u3053\u3068\u3067\u3059\u3002\u5b9f\u969b\u306b\u304a\u91d1\u304c\u6e1b\u308b\u3068\u3044\u3046\u3088\u308a\u3001\u300cLP\u305b\u305a\u6301\u3063\u3066\u3044\u305f\u65b9\u304c\u5f97\u3060\u3063\u305f\u300d\u3068\u3044\u3046\u6a5f\u4f1a\u640d\u5931\u3092\u6307\u3057\u307e\u3059\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u306a\u305c\u767a\u751f\u3059\u308b\u306e\u3067\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>AMM\u304c\u30d7\u30fc\u30eb\u306e\u6bd4\u7387\u3092\u4e00\u5b9a(x\u00d7y=k)\u306b\u4fdd\u3068\u3046\u3068\u3059\u308b\u305f\u3081\u3001\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u305f\u901a\u8ca8\u3092\u81ea\u52d5\u7684\u306b\u58f2\u308a\u3001\u4e0b\u304c\u3063\u305f\u901a\u8ca8\u3092\u8cb7\u3044\u5897\u3059\u304b\u3089\u3067\u3059\u3002\u3053\u306e\u81ea\u52d5\u30ea\u30d0\u30e9\u30f3\u30b9\u306b\u3088\u308a\u3001\u5358\u7d14\u4fdd\u6709\u306a\u3089\u307e\u308b\u3054\u3068\u5f97\u3089\u308c\u305f\u306f\u305a\u306e\u5024\u4e0a\u304c\u308a\u5206\u306e\u4e00\u90e8\u3092\u624b\u653e\u3057\u305f\u72b6\u614b\u306b\u306a\u308a\u3001\u5dee\u984d\u304c\u751f\u3058\u307e\u3059\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u306a\u305c\u300c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8(\u4e00\u6642\u7684)\u300d\u3068\u547c\u3076\u306e\u3067\u3059\u304b\uff1f\u56de\u907f\u3067\u304d\u307e\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\u4fa1\u683c\u6bd4\u304c\u9810\u3051\u305f\u6642\u306e\u6c34\u6e96\u306b\u623b\u308c\u3070\u640d\u5931\u304c\u6d88\u3048\u308b\u305f\u3081\u300c\u4e00\u6642\u7684\u300d\u3068\u547c\u3070\u308c\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u4fa1\u683c\u304c\u623b\u308b\u307e\u3067\u5f15\u304d\u51fa\u3055\u306a\u3051\u308c\u3070\u78ba\u5b9a\u3092\u907f\u3051\u3089\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u623b\u3089\u306a\u3044\u307e\u307e\u5f15\u304d\u51fa\u3059\u3068\u640d\u5931\u306f\u78ba\u5b9a\u3059\u308b\u305f\u3081\u3001\u5fc5\u305a\u56de\u907f\u3067\u304d\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3069\u3046\u8a08\u7b97\u3057\u307e\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>50:50\u306e\u30d7\u30fc\u30eb\u3067\u306f\u300cIL = 2 \u00d7 \u221ak \u00f7 (1+k) \u2212 1\u300d\u3067\u6c42\u3081\u3089\u308c\u307e\u3059(k\u306f\u7247\u65b9\u306e\u901a\u8ca8\u306e\u4fa1\u683c\u5909\u52d5\u500d\u7387)\u3002\u624b\u8a08\u7b97\u304c\u9762\u5012\u306a\u5834\u5408\u306f\u3001\u4fa1\u683c\u3092\u5165\u529b\u3059\u308b\u3060\u3051\u3067\u7b97\u51fa\u3067\u304d\u308b\u30aa\u30f3\u30e9\u30a4\u30f3\u306eIL\u8a08\u7b97\u30c4\u30fc\u30eb\u3092\u4f7f\u3046\u3068\u7c21\u5358\u3067\u3059\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u4fa1\u683c\u304c2\u500d\u30fb5\u500d\u306b\u306a\u308b\u3068\u640d\u5931\u306f\u4f55%\u3067\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\u4fa1\u683c\u304c2\u500d\u306b\u306a\u308b\u3068\u7d045.7%\u30015\u500d\u3067\u7d0425.5%\u306e\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306b\u306a\u308a\u307e\u3059\u3002\u4e0a\u6607\u3067\u3082\u4e0b\u843d\u3067\u3082\u540c\u3058\u3067\u3001\u534a\u5024(0.5\u500d)\u30822\u500d\u3068\u540c\u3058\u7d045.7%\u3067\u3059\u3002\u4fa1\u683c\u6bd4\u306e\u30ba\u30ec\u304c\u5927\u304d\u3044\u307b\u3069\u52a0\u901f\u5ea6\u7684\u306b\u640d\u5931\u304c\u81a8\u3089\u307f\u307e\u3059\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u907f\u3051\u308b\u30fb\u8efd\u6e1b\u3059\u308b\u65b9\u6cd5\u306f\u3042\u308a\u307e\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u540c\u58eb\u3084\u5024\u52d5\u304d\u304c\u9023\u52d5\u3059\u308b\u30da\u30a2\u3092\u9078\u3076\u3068\u3001\u4fa1\u683c\u6bd4\u306e\u30ba\u30ec\u304c\u5c0f\u3055\u304fIL\u3092\u6291\u3048\u3089\u308c\u307e\u3059\u3002\u52a0\u3048\u3066\u3001\u624b\u6570\u6599\u53ce\u5165(APR)\u304cIL\u3092\u4e0a\u56de\u308b\u30d7\u30fc\u30eb\u3092\u9078\u3076\u3001\u4fa1\u683c\u304c\u623b\u308b\u307e\u3067\u5f15\u304d\u51fa\u3055\u306a\u3044\u3001\u3068\u3044\u3063\u305f\u5bfe\u7b56\u3082\u6709\u52b9\u3067\u3059\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u624b\u6570\u6599\u53ce\u5165(APR)\u304c\u3042\u308c\u3070\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u6c17\u306b\u3057\u306a\u304f\u3066\u3044\u3044\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\u3044\u3044\u3048\u3002\u5b9f\u8cea\u640d\u76ca\u306f\u300c\u624b\u6570\u6599\u53ce\u5165 \u2212 \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u300d\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002APR\u304c\u9ad8\u304f\u898b\u3048\u3066\u3082\u3001\u5024\u52d5\u304d\u306e\u6fc0\u3057\u3044\u30da\u30a2\u3067IL\u304c\u624b\u6570\u6599\u3092\u4e0a\u56de\u308c\u3070\u5358\u7d14\u4fdd\u6709\u306b\u8ca0\u3051\u307e\u3059\u3002\u60f3\u5b9a\u3059\u308b\u4fa1\u683c\u5909\u52d5\u3067\u306eIL\u3068APR\u3092\u5fc5\u305a\u6bd4\u8f03\u3057\u3066\u5224\u65ad\u3057\u307e\u3057\u3087\u3046\u3002<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306b\u7a0e\u91d1\u306f\u304b\u304b\u308a\u307e\u3059\u304b\uff1f\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\u542b\u307f\u640d\u3067\u3042\u308bIL\u81ea\u4f53\u306b\u76f4\u63a5\u8ab2\u7a0e\u3055\u308c\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u305f\u3060\u3057\u3001\u53d7\u3051\u53d6\u3063\u305f\u30b9\u30ef\u30c3\u30d7\u624b\u6570\u6599\u3084LP\u5831\u916c\u3001\u901a\u8ca8\u306e\u4ea4\u63db\u3067\u5f97\u305f\u5229\u76ca\u306f\u65e5\u672c\u3067\u306f\u539f\u5247\u300c\u96d1\u6240\u5f97\u300d\u3068\u3057\u3066\u8ab2\u7a0e\u5bfe\u8c61\u3067\u3059\u3002\u65e5\u672c\u5186\u306b\u63db\u3048\u3066\u3044\u306a\u304f\u3066\u3082\u8ab2\u7a0e\u30a4\u30d9\u30f3\u30c8\u304c\u767a\u751f\u3057\u5f97\u308b\u70b9\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\\\/p>\"}}]}<\/script>\n\n\n\n<h2 class=\"wp-block-heading\">\u307e\u3068\u3081\uff5c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u300c\u624b\u6570\u6599\u30fb\u7a0e\u91d1\u3068\u30bb\u30c3\u30c8\u300d\u3067\u5224\u65ad\u3059\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u306f\u3001DEX\u306b\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3057\u305f\u3068\u304d\u306b\u3001\u5358\u7d14\u4fdd\u6709\u3068\u6bd4\u3079\u3066\u8cc7\u7523\u304c\u76ee\u6e1b\u308a\u3059\u308b\u5dee\u984d\u306e\u3053\u3068\u3067\u3059\u3002AMM\u304c\u4fa1\u683c\u3092\u4fdd\u3064\u305f\u3081\u306b<strong>\u5024\u4e0a\u304c\u308a\u3057\u305f\u901a\u8ca8\u3092\u81ea\u52d5\u3067\u58f2\u3063\u3066\u3057\u307e\u3046<\/strong>\u3053\u3068\u3067\u751f\u307e\u308c\u3001\u640d\u5931\u7387\u306f\u4fa1\u683c\u500d\u7387\u3060\u3051\u3067\u6c7a\u307e\u308a\u307e\u3059(2\u500d\u3067\u7d045.7%\u30015\u500d\u3067\u7d0425.5%)\u3002\u4e0a\u6607\u3067\u3082\u4e0b\u843d\u3067\u3082\u767a\u751f\u3057\u3001\u4fa1\u683c\u6bd4\u304c\u623b\u308c\u3070\u6d88\u3048\u308b\u305f\u3081\u300c\u4e00\u6642\u7684\u300d\u3068\u547c\u3070\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001LP\u3067\u8ca0\u3051\u306a\u3044\u305f\u3081\u306b\u672c\u5f53\u306b\u5927\u5207\u306a\u306e\u306f<strong>\u300c\u624b\u6570\u6599\u53ce\u5165(APR)\u304c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u4e0a\u56de\u308b\u304b\u300d\u3068\u3044\u3046\u640d\u76ca\u5206\u5c90<\/strong>\u3001\u305d\u3057\u3066<strong>LP\u5831\u916c\u3084\u30b9\u30ef\u30c3\u30d7\u306b\u8ab2\u3055\u308c\u308b\u7a0e\u91d1<\/strong>\u307e\u3067\u542b\u3081\u3066\u5224\u65ad\u3059\u308b\u3053\u3068\u3067\u3059\u3002IL\u3060\u3051\u3092\u6050\u308c\u308b\u306e\u3067\u3082\u3001APR\u3060\u3051\u3092\u8ffd\u3046\u306e\u3067\u3082\u306a\u304f\u3001<strong>\u4fa1\u683c\u30ea\u30b9\u30af\u30fb\u624b\u6570\u6599\u53ce\u5165\u30fb\u7a0e\u91d1\u306e3\u70b9\u3092\u30bb\u30c3\u30c8\u3067\u898b\u308b<\/strong>\u2014\u2014\u3053\u308c\u304c\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3068\u6b63\u3057\u304f\u4ed8\u304d\u5408\u3046\u305f\u3081\u306e\u7d50\u8ad6\u3067\u3059\u3002\u307e\u305a\u306f\u5024\u52d5\u304d\u306e\u5c0f\u3055\u3044\u30da\u30a2\u3067\u611f\u899a\u3092\u3064\u304b\u307f\u3001DeFi\u306e\u5168\u4f53\u50cf\u306f<a href=\"https:\/\/ichizenholdings.co.jp\/media\/stable-investments\/defi\/how-to-start-defi\/\" target=\"_blank\" rel=\"noopener\">DeFi\u306e\u59cb\u3081\u65b9\u306e\u8a18\u4e8b<\/a>\u3067\u78ba\u8a8d\u3057\u3066\u304b\u3089\u898f\u6a21\u3092\u5e83\u3052\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"has-text-color wp-block-paragraph\" style=\"color:#999999;font-size:13px\">\u53c2\u8003\u6587\u732e<\/p>\n\n\n\n<p class=\"has-text-color wp-block-paragraph\" style=\"color:#999999;font-size:13px\">1. Uniswap \u516c\u5f0f\u30c9\u30ad\u30e5\u30e1\u30f3\u30c8(AMM\u30fb\u5b9a\u6570\u7a4dx\u00d7y=k\u30fb\u6d41\u52d5\u6027\u63d0\u4f9b\u306e\u4ed5\u7d44\u307f)<a href=\"https:\/\/docs.uniswap.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/docs.uniswap.org\/<\/a><br>2. \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306e\u640d\u5931\u65e9\u898b\u8868\u306e\u6570\u5024\u306f\u3001\u516c\u5f0f(IL = 2\u221ak \u00f7 (1+k) \u2212 1)\u306b\u57fa\u3065\u304d\u5f53\u7de8\u96c6\u90e8\u304c\u7b97\u51fa<br>3. \u56fd\u7a0e\u5e81\u300c\u6697\u53f7\u8cc7\u7523\u306b\u95a2\u3059\u308b\u7a0e\u52d9\u4e0a\u306e\u53d6\u6271\u3044(FAQ)\u300d<a href=\"https:\/\/www.nta.go.jp\/\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/www.nta.go.jp\/<\/a><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">\u203b\u672c\u8a18\u4e8b\u306f2026\u5e747\u6708\u6642\u70b9\u306e\u60c5\u5831\u306b\u57fa\u3065\u304f\u4e00\u822c\u7684\u306a\u60c5\u5831\u63d0\u4f9b\u3092\u76ee\u7684\u3068\u3057\u3066\u304a\u308a\u3001\u7279\u5b9a\u306e\u6697\u53f7\u8cc7\u7523(\u4eee\u60f3\u901a\u8ca8)\u30fb\u30b5\u30fc\u30d3\u30b9\u3078\u306e\u6295\u8cc7\u3084\u5229\u7528\u3092\u52e7\u8a98\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002DeFi\u306e\u6d41\u52d5\u6027\u63d0\u4f9b\u306b\u306f\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u3092\u306f\u3058\u3081\u3068\u3059\u308b\u5404\u7a2e\u30ea\u30b9\u30af\u304c\u4f34\u3044\u3001\u7a0e\u52d9\u4e0a\u306e\u53d6\u6271\u3044\u306f\u500b\u3005\u306e\u72b6\u6cc1\u3067\u7570\u306a\u308a\u307e\u3059\u3002\u6700\u65b0\u306e\u60c5\u5831\u306f\u5404\u30b5\u30fc\u30d3\u30b9\u306e\u516c\u5f0f\u60c5\u5831\u304a\u3088\u3073\u56fd\u7a0e\u5e81\u306e\u60c5\u5831\u3067\u3054\u78ba\u8a8d\u3044\u305f\u3060\u304d\u3001\u7a0e\u52d9\u306e\u5177\u4f53\u7684\u306a\u5224\u65ad\u306f\u7a0e\u7406\u58eb\u7b49\u306e\u5c02\u9580\u5bb6\u306b\u3054\u76f8\u8ac7\u304f\u3060\u3055\u3044\u3002\u6700\u7d42\u7684\u306a\u5224\u65ad\u306f\u3054\u81ea\u8eab\u306e\u8cac\u4efb\u3067\u884c\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01 \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u57fa\u672c\u60c5\u5831 \u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(Impermanent Loss\uff0f\u5909\u52d5\u640d\u5931)\u3068\u306f\u3001DEX\u306b\u6d41\u52d5\u6027\u63d0\u4f9b(LP)\u3057\u305f\u5834\u5408\u306b\u3001\u305d\u306e2\u3064\u306e [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":205717,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","footnotes":""},"categories":[106],"tags":[],"class_list":["post-12261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web3-0"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"\u6c34\u91ce\u502b\u592a\u90ce\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.1.1\" \/>\n\t\t<meta property=\"og:locale\" content=\"ja_JP\" \/>\n\t\t<meta property=\"og:site_name\" content=\"ICHIZEN CAPITAL - \u6b63\u3057\u3044\u77e5\u8b58\u30fb\u904b\u7528\u3067\u4eee\u60f3\u901a\u8ca8\u3092\u3082\u3063\u3068\u8eab\u8fd1\u306b\u3002\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL\" \/>\n\t\t<meta property=\"og:description\" content=\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2025-11-06T05:01:27+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-07-27T03:22:21+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BlogPosting\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#blogposting\",\"name\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9(\\u5909\\u52d5\\u640d\\u5931)\\u3068\\u306f\\uff1f\\u4ed5\\u7d44\\u307f\\u30fb\\u8a08\\u7b97\\u5f0f\\u30fb\\u65e9\\u898b\\u8868\\u30fb\\u5bfe\\u7b56\\u3068\\u624b\\u6570\\u6599\\u306e\\u640d\\u76ca\\u5206\\u5c90\\u3092\\u89e3\\u8aac - ICHIZEN CAPITAL\",\"headline\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9(\\u5909\\u52d5\\u640d\\u5931)\\u3068\\u306f\\uff1f\\u4ed5\\u7d44\\u307f\\u30fb\\u8a08\\u7b97\\u5f0f\\u30fb\\u65e9\\u898b\\u8868\\u30fb\\u5bfe\\u7b56\\u3068\\u624b\\u6570\\u6599\\u306e\\u640d\\u76ca\\u5206\\u5c90\\u3092\\u89e3\\u8aac\",\"author\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/author\\\/ichizencapital\\\/#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/#organization\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/wp-content\\\/uploads\\\/2025\\\/11\\\/ichizencapital-66.png\",\"width\":1600,\"height\":900},\"datePublished\":\"2025-11-06T14:01:27+09:00\",\"dateModified\":\"2026-07-27T12:22:21+09:00\",\"inLanguage\":\"ja\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#webpage\"},\"articleSection\":\"Web3.0\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/#listItem\",\"name\":\"\\u30b3\\u30e9\\u30e0\\u30fb\\u89e3\\u8aac\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/#listItem\",\"position\":2,\"name\":\"\\u30b3\\u30e9\\u30e0\\u30fb\\u89e3\\u8aac\",\"item\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/web3-0\\\/#listItem\",\"name\":\"Web3.0\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/web3-0\\\/#listItem\",\"position\":3,\"name\":\"Web3.0\",\"item\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/web3-0\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#listItem\",\"name\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9(\\u5909\\u52d5\\u640d\\u5931)\\u3068\\u306f\\uff1f\\u4ed5\\u7d44\\u307f\\u30fb\\u8a08\\u7b97\\u5f0f\\u30fb\\u65e9\\u898b\\u8868\\u30fb\\u5bfe\\u7b56\\u3068\\u624b\\u6570\\u6599\\u306e\\u640d\\u76ca\\u5206\\u5c90\\u3092\\u89e3\\u8aac\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/#listItem\",\"name\":\"\\u30b3\\u30e9\\u30e0\\u30fb\\u89e3\\u8aac\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#listItem\",\"position\":4,\"name\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9(\\u5909\\u52d5\\u640d\\u5931)\\u3068\\u306f\\uff1f\\u4ed5\\u7d44\\u307f\\u30fb\\u8a08\\u7b97\\u5f0f\\u30fb\\u65e9\\u898b\\u8868\\u30fb\\u5bfe\\u7b56\\u3068\\u624b\\u6570\\u6599\\u306e\\u640d\\u76ca\\u5206\\u5c90\\u3092\\u89e3\\u8aac\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/category\\\/column\\\/web3-0\\\/#listItem\",\"name\":\"Web3.0\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/#organization\",\"name\":\"\\u682a\\u5f0f\\u4f1a\\u793eICHIZEN HOLDINGS\",\"description\":\"\\u682a\\u5f0f\\u4f1a\\u793eICHIZEN HOLDINGS\\u306f\\u3001WEB3.0\\u4e8b\\u696d\\u30920\\u304b\\u3089\\u69cb\\u7bc9\\u30fb\\u30de\\u30fc\\u30b1\\u30c6\\u30a3\\u30f3\\u30b0\\u304c\\u884c\\u3048\\u308bWEB3.0\\u7279\\u5316\\u306e\\u30b3\\u30f3\\u30b5\\u30eb\\u30c6\\u30a3\\u30f3\\u30b0\\u4f01\\u696d\\u3067\\u3059\\u3002 BTC\\u306e\\u8ad6\\u6587\\u8aad\\u307f\\u89e3\\u304d\\u304b\\u3089\\u59cb\\u307e\\u308b\\u7814\\u4fee\\u30fb\\u30af\\u30ea\\u30d7\\u30c8\\u306e\\u672c\\u8cea\\u3092\\u6349\\u3048\\u305f\\u4e8b\\u696d\\u4f01\\u753b\\\/\\u30c8\\u30fc\\u30af\\u30f3\\u30a8\\u30b3\\u30ce\\u30df\\u30af\\u30b9\\u8a2d\\u8a08\\u30fb\\u8fc5\\u901f\\u304b\\u3064\\u30c8\\u30ec\\u30f3\\u30c9\\u3092\\u6291\\u3048\\u305f\\u30b7\\u30b9\\u30c6\\u30e0\\u958b\\u767a\\u30fb\\u4eba\\u3005\\u306e\\u6b32\\u6c42\\u3092\\u72d9\\u3044\\u6483\\u3064\\u30de\\u30fc\\u30b1\\u30c6\\u30a3\\u30f3\\u30b0\\u3002 \\u4e00\\u6c17\\u901a\\u8cab\\u3067\\u8cb4\\u793e\\u306eWEB3.0\\u4e8b\\u696d\\u3092\\u652f\\u63f4\\u3057\\u307e\\u3059\\u3002\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/\",\"telephone\":\"+817083005851\",\"logo\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/wp-content\\\/uploads\\\/2025\\\/07\\\/ICHIZEN\\u3055\\u307e\\u3000\\u7e26\\u7d44\\u307f\\u3000\\u9ed2\\u30ed\\u30b4-scaled.png\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#organizationLogo\",\"width\":2560,\"height\":2081},\"image\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#organizationLogo\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/author\\\/ichizencapital\\\/#author\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/author\\\/ichizencapital\\\/\",\"name\":\"\\u6c34\\u91ce\\u502b\\u592a\\u90ce\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#authorImage\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ac998cf8a93769ce2f57435607bed3edc869d6bfa37d71ba56d60bf2252bd058?s=96&d=mm&r=g\",\"width\":96,\"height\":96,\"caption\":\"\\u6c34\\u91ce\\u502b\\u592a\\u90ce\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#webpage\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/\",\"name\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9(\\u5909\\u52d5\\u640d\\u5931)\\u3068\\u306f\\uff1f\\u4ed5\\u7d44\\u307f\\u30fb\\u8a08\\u7b97\\u5f0f\\u30fb\\u65e9\\u898b\\u8868\\u30fb\\u5bfe\\u7b56\\u3068\\u624b\\u6570\\u6599\\u306e\\u640d\\u76ca\\u5206\\u5c90\\u3092\\u89e3\\u8aac - ICHIZEN CAPITAL\",\"description\":\"\\u30a4\\u30f3\\u30d1\\u30fc\\u30de\\u30cd\\u30f3\\u30c8\\u30ed\\u30b9\\u306f\\u3001\\u6d41\\u52d5\\u6027\\u63d0\\u4f9b\\u6642\\u306e\\u4fa1\\u683c\\u5909\\u52d5\\u306b\\u3088\\u308a\\u751f\\u3058\\u308b\\u640d\\u5931\\u3067\\u3059\\u3002\\u672c\\u8a18\\u4e8b\\u3067\\u306f\\u3001AMM\\u306e\\u4ed5\\u7d44\\u307f\\u300cx*y=k\\u300d\\u304b\\u3089\\u767a\\u751f\\u30e1\\u30ab\\u30cb\\u30ba\\u30e0\\u3092\\u8a73\\u3057\\u304f\\u89e3\\u8aac\\u3057\\u3001\\u8a08\\u7b97\\u65b9\\u6cd5\\u3068\\u640d\\u5931\\u65e9\\u898b\\u8868\\u3001\\u305d\\u3057\\u3066\\u96c6\\u4e2d\\u6d41\\u52d5\\u6027\\u3084Liquidity Book\\u3001Uniswap V4\\u30d5\\u30c3\\u30af\\u306a\\u30692025\\u5e74\\u6700\\u65b0\\u306e\\u5bfe\\u7b56\\u6280\\u8853\\u307e\\u3067\\u3001\\u521d\\u5fc3\\u8005\\u306b\\u3082\\u5206\\u304b\\u308a\\u3084\\u3059\\u304f\\u7db2\\u7f85\\u7684\\u306b\\u7d39\\u4ecb\\u3057\\u307e\\u3059\\u3002\",\"inLanguage\":\"ja\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/author\\\/ichizencapital\\\/#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/author\\\/ichizencapital\\\/#author\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/wp-content\\\/uploads\\\/2025\\\/11\\\/ichizencapital-66.png\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#mainImage\",\"width\":1600,\"height\":900},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/column\\\/web3-0\\\/impermanent-loss\\\/#mainImage\"},\"datePublished\":\"2025-11-06T14:01:27+09:00\",\"dateModified\":\"2026-07-27T12:22:21+09:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/#website\",\"url\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/\",\"name\":\"ICHIZEN CAPITAL\",\"description\":\"\\u6b63\\u3057\\u3044\\u77e5\\u8b58\\u30fb\\u904b\\u7528\\u3067\\u4eee\\u60f3\\u901a\\u8ca8\\u3092\\u3082\\u3063\\u3068\\u8eab\\u8fd1\\u306b\\u3002\",\"inLanguage\":\"ja\",\"publisher\":{\"@id\":\"https:\\\/\\\/ichizenholdings.co.jp\\\/media\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL","description":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002","canonical_url":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/","robots":"max-image-preview:large","keywords":"","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BlogPosting","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#blogposting","name":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL","headline":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac","author":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/author\/ichizencapital\/#author"},"publisher":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/#organization"},"image":{"@type":"ImageObject","url":"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/11\/ichizencapital-66.png","width":1600,"height":900},"datePublished":"2025-11-06T14:01:27+09:00","dateModified":"2026-07-27T12:22:21+09:00","inLanguage":"ja","mainEntityOfPage":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#webpage"},"isPartOf":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#webpage"},"articleSection":"Web3.0"},{"@type":"BreadcrumbList","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media#listItem","position":1,"name":"Home","item":"https:\/\/ichizenholdings.co.jp\/media","nextItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/#listItem","name":"\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac"}},{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/#listItem","position":2,"name":"\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac","item":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/","nextItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/#listItem","name":"Web3.0"},"previousItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/#listItem","position":3,"name":"Web3.0","item":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/","nextItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#listItem","name":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac"},"previousItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/#listItem","name":"\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac"}},{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#listItem","position":4,"name":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac","previousItem":{"@type":"ListItem","@id":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/#listItem","name":"Web3.0"}}]},{"@type":"Organization","@id":"https:\/\/ichizenholdings.co.jp\/media\/#organization","name":"\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS","description":"\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS\u306f\u3001WEB3.0\u4e8b\u696d\u30920\u304b\u3089\u69cb\u7bc9\u30fb\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u304c\u884c\u3048\u308bWEB3.0\u7279\u5316\u306e\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u4f01\u696d\u3067\u3059\u3002 BTC\u306e\u8ad6\u6587\u8aad\u307f\u89e3\u304d\u304b\u3089\u59cb\u307e\u308b\u7814\u4fee\u30fb\u30af\u30ea\u30d7\u30c8\u306e\u672c\u8cea\u3092\u6349\u3048\u305f\u4e8b\u696d\u4f01\u753b\/\u30c8\u30fc\u30af\u30f3\u30a8\u30b3\u30ce\u30df\u30af\u30b9\u8a2d\u8a08\u30fb\u8fc5\u901f\u304b\u3064\u30c8\u30ec\u30f3\u30c9\u3092\u6291\u3048\u305f\u30b7\u30b9\u30c6\u30e0\u958b\u767a\u30fb\u4eba\u3005\u306e\u6b32\u6c42\u3092\u72d9\u3044\u6483\u3064\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u3002 \u4e00\u6c17\u901a\u8cab\u3067\u8cb4\u793e\u306eWEB3.0\u4e8b\u696d\u3092\u652f\u63f4\u3057\u307e\u3059\u3002","url":"https:\/\/ichizenholdings.co.jp\/media\/","telephone":"+817083005851","logo":{"@type":"ImageObject","url":"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/07\/ICHIZEN\u3055\u307e\u3000\u7e26\u7d44\u307f\u3000\u9ed2\u30ed\u30b4-scaled.png","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#organizationLogo","width":2560,"height":2081},"image":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#organizationLogo"}},{"@type":"Person","@id":"https:\/\/ichizenholdings.co.jp\/media\/author\/ichizencapital\/#author","url":"https:\/\/ichizenholdings.co.jp\/media\/author\/ichizencapital\/","name":"\u6c34\u91ce\u502b\u592a\u90ce","image":{"@type":"ImageObject","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#authorImage","url":"https:\/\/secure.gravatar.com\/avatar\/ac998cf8a93769ce2f57435607bed3edc869d6bfa37d71ba56d60bf2252bd058?s=96&d=mm&r=g","width":96,"height":96,"caption":"\u6c34\u91ce\u502b\u592a\u90ce"}},{"@type":"WebPage","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#webpage","url":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/","name":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL","description":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002","inLanguage":"ja","isPartOf":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/#website"},"breadcrumb":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#breadcrumblist"},"author":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/author\/ichizencapital\/#author"},"creator":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/author\/ichizencapital\/#author"},"image":{"@type":"ImageObject","url":"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/11\/ichizencapital-66.png","@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#mainImage","width":1600,"height":900},"primaryImageOfPage":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/#mainImage"},"datePublished":"2025-11-06T14:01:27+09:00","dateModified":"2026-07-27T12:22:21+09:00"},{"@type":"WebSite","@id":"https:\/\/ichizenholdings.co.jp\/media\/#website","url":"https:\/\/ichizenholdings.co.jp\/media\/","name":"ICHIZEN CAPITAL","description":"\u6b63\u3057\u3044\u77e5\u8b58\u30fb\u904b\u7528\u3067\u4eee\u60f3\u901a\u8ca8\u3092\u3082\u3063\u3068\u8eab\u8fd1\u306b\u3002","inLanguage":"ja","publisher":{"@id":"https:\/\/ichizenholdings.co.jp\/media\/#organization"}}]},"og:locale":"ja_JP","og:site_name":"ICHIZEN CAPITAL - \u6b63\u3057\u3044\u77e5\u8b58\u30fb\u904b\u7528\u3067\u4eee\u60f3\u901a\u8ca8\u3092\u3082\u3063\u3068\u8eab\u8fd1\u306b\u3002","og:type":"article","og:title":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL","og:description":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002","og:url":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/","article:published_time":"2025-11-06T05:01:27+00:00","article:modified_time":"2026-07-27T03:22:21+00:00","twitter:card":"summary_large_image","twitter:title":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac - ICHIZEN CAPITAL","twitter:description":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002"},"aioseo_meta_data":{"post_id":"12261","title":null,"description":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9\u306f\u3001\u6d41\u52d5\u6027\u63d0\u4f9b\u6642\u306e\u4fa1\u683c\u5909\u52d5\u306b\u3088\u308a\u751f\u3058\u308b\u640d\u5931\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001AMM\u306e\u4ed5\u7d44\u307f\u300cx*y=k\u300d\u304b\u3089\u767a\u751f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3001\u8a08\u7b97\u65b9\u6cd5\u3068\u640d\u5931\u65e9\u898b\u8868\u3001\u305d\u3057\u3066\u96c6\u4e2d\u6d41\u52d5\u6027\u3084Liquidity Book\u3001Uniswap V4\u30d5\u30c3\u30af\u306a\u30692025\u5e74\u6700\u65b0\u306e\u5bfe\u7b56\u6280\u8853\u307e\u3067\u3001\u521d\u5fc3\u8005\u306b\u3082\u5206\u304b\u308a\u3084\u3059\u304f\u7db2\u7f85\u7684\u306b\u7d39\u4ecb\u3057\u307e\u3059\u3002","keywords":null,"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"BlogPosting","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":{"faqs":[],"keyPoints":[],"schemas":[],"titles":[],"descriptions":[],"socialPosts":{"email":{"subject":"","preview":"","content":""},"linkedin":[],"twitter":[],"facebook":[],"instagram":[]}},"created":"2025-07-01 12:33:30","updated":"2026-07-27 03:31:54","seo_analyzer_scan_date":null,"focus_keyword":null,"additional_keywords":null,"truseo_locale":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/ichizenholdings.co.jp\/media\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/\" title=\"\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac\">\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/\" title=\"Web3.0\">Web3.0<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/ichizenholdings.co.jp\/media"},{"label":"\u30b3\u30e9\u30e0\u30fb\u89e3\u8aac","link":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/"},{"label":"Web3.0","link":"https:\/\/ichizenholdings.co.jp\/media\/category\/column\/web3-0\/"},{"label":"\u30a4\u30f3\u30d1\u30fc\u30de\u30cd\u30f3\u30c8\u30ed\u30b9(\u5909\u52d5\u640d\u5931)\u3068\u306f\uff1f\u4ed5\u7d44\u307f\u30fb\u8a08\u7b97\u5f0f\u30fb\u65e9\u898b\u8868\u30fb\u5bfe\u7b56\u3068\u624b\u6570\u6599\u306e\u640d\u76ca\u5206\u5c90\u3092\u89e3\u8aac","link":"https:\/\/ichizenholdings.co.jp\/media\/column\/web3-0\/impermanent-loss\/"}],"_links":{"self":[{"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/posts\/12261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/comments?post=12261"}],"version-history":[{"count":3,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/posts\/12261\/revisions"}],"predecessor-version":[{"id":205716,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/posts\/12261\/revisions\/205716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/media\/205717"}],"wp:attachment":[{"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/media?parent=12261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/categories?post=12261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ichizenholdings.co.jp\/media\/wp-json\/wp\/v2\/tags?post=12261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}