[Asset Onboarding Application] $SRM - Serum

There’s no Solana DeFi without Serum.

there’s no solana defi without serum absolutely, the tokenomics of srm are awful tho.

i think that would have to do with how serum structures the dao itself

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i think this SRM demand is large, i support it.

This is one of if no the most heavily borrowed assets in Solana ecosystem. Do it yesterday!

Wouldn’t be a bad idea. Let’s Keep jetting

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I support this because:

  1. SRM is a legit part of the SOL ecosystem, and we’re all in this together
  2. using SRM as collateral is a good way to create price discovery for SRM
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@eyevzz Any thoughts on this proposal?

Thanks for pinging me, @adamdelsol. I would like to get a clear picture of the liquidity in SRM pairs on Serum. Do we have any forum members able to use e.g. py-serum to produce plots of liquidity in bids and asks as function of spread from the mid price?

I’m thinking about being able to safely liquidate positions when required.

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Have we considered of SRM or any particular SPL tokens are susceptible to price manipulation from flash minting and burning?

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Looks like pyserum is pretty easy to get started with if anyone is interested and has experience with jupyter notebooks.

I also wonder about this. Token supply is so huge, seems like value is very subject to the mint and burn mechanisms. Are the parameters in the smart contract?

Unless someone has been storing that data for that pair, it won’t be available historically, but you could start tracking it from today for a period of time. We might be able to organise this. There are both SRM/USDC and SRM/USDT. Is it just SRM/USDC that is important?

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Yes, just the USDC pair for now as that what we’ll liquidate against.

+1 for pyserum. I’ve used it before and it’s pretty easy to gather info about resting liquidity.

we’re going to need at least a month of price action data from our current indexing - we’ll then engage someone or some firm to do analysis on some of the risk parameters around SRM we should consider. Does anyone have any suggestions on who might be well suited to do this sort of quant/qual analysis?

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Gauntlet does really good research. They also researched risk parameters for Aave:
https://gauntlet.network/reports/aave

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Maybe the vybenetwork tool be helpful in getting historical price data.

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Great idea - so you’re suggesting them as a third party rather than an individual community member.

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Going to reach out to their team about this.

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I think it’s cool to want to add more SOL based tokens, but why don’t we add things like AVAX or LUNA to incorporate new users to Solana and JET. How many new users would SRM actually bring? I think we need to think bigger with Jet, as Drift and Mango have AVAX, LUNA, and BNB. SRM isn’t bad at all and great for the ecosystem but I think we need to think about on boarding more and new users.

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Another application for $SRM was submitted here. $SRM has been rejected after an unsuccessful on-chain vote.