> For the complete documentation index, see [llms.txt](https://pancakeswap.gitbook.io/pancakeswap/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pancakeswap.gitbook.io/pancakeswap/chinese/jiao-yi/pancakeswap-infinity/hooks/shared-inventory-hook.md).

# Shared Inventory Hook

PancakeSwap 官方的 Shared Inventory Hook（SIH）旨在让同一份资金在所有共享相同代币的资金池中做市，而不必为每个资金池分别锁定流动性。它为交易者提供更深的报价和更低的价格影响，同时让流动性提供者以更少的资金获得同样的覆盖范围。

该 Hook 由 PancakeSwap 核心团队打造，专为希望在链上为多个交易对报价、又不想分散自身库存的资产发行方和做市商量身定制。

#### 🔍 为什么选择共享库存？

按传统方式为多个交易对提供流动性，意味着要把专用资金锁定在各个独立的资金池中，而这些资金大部分时间都在交易间隙闲置。SIH 则为每种代币只持有一份余额，仅在兑换需要时才将其作为流动性注入，因此同一份资金可以支持所有共享该代币的资金池。

#### 📊 它与其他模式有何不同？

传统的集中流动性要求把全部本金投入单一资金池。其他跨池方案（例如虚拟余额结算层）通常位于 AMM 本身之外，其流动性可能无法显示为链上资金池深度，也无法被聚合器直接路由。

SIH 的流动性在每次兑换时由 Hook 进出 PancakeSwap Infinity CLAMM 资金池，因此它会显示为真实的资金池深度，路由器可以看到并据此成交。

#### ⚙️ 工作原理

* **即时（JIT）注入**\
  每次兑换之前，Hook 会向资金池铸造一个已配置的集中流动性头寸；兑换执行后，它会销毁该头寸并结算净结果。该头寸仅在一次兑换期间存在，余额可以立即用于下一个需要它的资金池。
* **一份余额，多个资金池**\
  库存即 Hook 自身的代币余额，无需为每个资金池单独存入。任何需要用于多个资金池的代币都会在所有这些资金池之间共享。

{% hint style="success" %}
这使资金池所报价的深度与池内直接持有的资金脱钩：一个已注资的 Hook 可以在共享同一种代币的多个资金池中提供深度大、价差小的流动性。
{% endhint %}

* **可配置的 Hook**\
  对于它服务的每个资金池，Hook 都持有一份可调整的、独立的价格区间和深度配置。移动区间只需更新配置，因此可以轻松地围绕不断变动的参考价格重新校准报价。

#### 📌 核心要点

* 一份共享的代币余额支持所有使用该代币的资金池。新增资金池无需动用新的本金。
* 完全链上且可组合：SIH 的流动性是真实的资金池深度，PancakeSwap 和第三方聚合器都可以路由。
* 交易者可获得更深的报价，大额交易的价格影响更低；运营者只需传统方式所需资金的一小部分，即可赚取同样的交易手续费。


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