I think a google form would better quantify things here. Perhaps list the top 10 from this forum and can have an “add more” option. …instead of scrolling through taking mental snapshots of who wrote what. Would consider that as another consideration factor. Liquidity and “community attraction” I’d put as higher weights.
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great suggestion, thank you!
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The more I think about this, the more I’d really like to see Liquidity Pool tokens being an option for collateral.
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$BTC $SOL $SRM $FTT $RAY seems good for a start. They are all Solids
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SOL as the primary collateral type to be borrowed against by USDC and/or USDT makes sense to me. I also like the traditional Sol DeFi coins other community members are suggesting (SRM, RAY, FTT, etc.)
One thing I have not seen in B+L that I think could be very interesting (and market well towards a specific and imo very high quality customer) is including picks + shovels as collateral types. I’m shilling my bags here a bit but I think having GRT, AR, LPT, YGG, PYTH (when it launches) are valuable because I believe these are specific coins that smart money will want to hold for 10+ years (time in market vs. timing the market). I understand some of these coins are outside the Sol ecosystem and so I’m not sure if it is possible whether through Wormhole or other protocols to include them but I think it’s smart for a B+L protocol to focus on coins that are long term hodl’s and I haven’t seen other B+L’s take this approach yet. Just my two cents
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has anyone suggested monero and zcash yet?
i agree, it’s a great way to get more out of your capital
we’ll definitely get there, just right now we’re operating under constraints of the blockchain (and all projects are dealing with these same constraints), but the good news is that these constraints will be lifted eventually!
our current margining system has to intake a lot of accounts to render a successful tx, we’re pretty much bumped right up to the limit, but we’ve left some room as a buffer for the needs of the future
for example for our alpha release, assuming it has 4 collateral types each with 9 input accounts each, to update just one user’s whole account position means 4 x 9 = 36 accounts input which is pretty large and requires some intricate transaction splicing to get the job done
i bring that up because to refresh a collateral types position also requires input from the oracle, and to properly value a LP token we’ll need two oracle feeds, one for each side of the pair and we’ll need to update the logic in the program to do that + any custom calculations needed to get a fair value of the LP token. updating the logic is relatively easy, but we’ve still the same space constraints (we can only fit basically 1232 bytes in a tx) so it’s like transaction tetris only now we have another oracle to add into the mix
the good news is that address maps should fix this problem: Transactions v2 - Address maps | Solana Docs
constantly improving jet’s account margining is the paramount goal – we want our users to be able to collateralize and borrow against even their most exotic assets with speed, efficiency, security, and also the comfort of knowing that if a liquidation must happen that they’re not going to get shaken down by slippage and limited on-chain liquidity for these more intricate assets, so there’s a few things to weigh but we’re def working on it and will have solutions in the future!
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wow what a thorough response Wil. Thanks for taking the time to explain all that. It really is nice to get an understanding of how things function under the hood.
please start with c98, usdc, sol etc.
One project in the solana ecosystem I’ve been consistently impressed by is Orca, and it might be worth chatting with their team about having their token on Jet at some point.
I note that in their very recent funding annoucement, they state that the funding will, among other things, assist with “Partnerships with lending platforms, dashboards, aggregators, NFT projects, and more”
Obvs everyone is in here shilling their bags, and I’d def do own orca; i like the term “skin in the game” when talking about my own holdings of course.
From my pov Orca team has taken a similar approach to Jet… getting the product right, exploring ideas outside the box, etc.
Anyway, that’s my 2 cents.
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Do you think the Orca team would be interested in submitting a collateral proposal?
I do have a friend working at Orca, I’d be happy to check in with them. I think ideally the primary stakeholder would submit.
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$FTT for access purposes, and $PAI should have demand as well since there is currently a debt cap limiting new PAI minting…
$SRM should be interesting since its a utility token. Protocols may want to borrow large amounts of SRM for a short time to reduce trading fees if say a game is launching a new nft collection on the Serum DEX.
I also see $RAY and $ORCA being popular to borrow. RAY fusion pools are generally X-RAY, so people would borrow RAY to LP RAY pairs and collect mining incentives. A similar pattern should follow for ORCA. The difficulty here is the deposit APR needs to be higher than RAY single sided staking, which is at 25%. Bootstrapping this deposit pool would be hard.
few things… I have the attention span of a gnat at times, so when I want to do a trade I want it done asap. So I like AMMs for that. And Orca, unlike Raydium, routes in order to allow me to swap where direct pairs don’t exist.
The devs aren’t anon (any more). So I don’t feel like there’s just 1 dev in Anonistan pretending to be seven devs to give the illusion of a “team”.
They’re trying different things… their natural english swap tool… not a fan personally, but I think it shows a willingness to try and innovate.
And also they have stableswap (curve-esque) pools right alongside their traditional pools. This makes so much sense to me, and I can’t believe it wasn’t done by other AMMs sooner.
That’s all that comes to mind right now anyway.
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I do think they’d be down for that. Although I’m sure they’re mad busy like everyone else.
I also think @wil and @jrmoreau should make an appearance on the Orca podcast too. They need some outside guests on that show!
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I agree on the podcast appearance!
Yeah I think as Jet comes to prominence other protocols will be quite happy to onboard as collateral.
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ABR, DINO, SAMO, SODA would be better. Cause all are underrated and will be blast. That’s my opinion