The problem is it's not just an issue of funds being safu. All the quotes resting on Serum are extremely stale and about to be picked off. When the network comes back online, liquidity providers are going to get steamrolled.https://twitter.com/ApeLqdtd/status/1437856906429837318 …
How much of this is just a cost of doing business? I'm sure LPs are still doing just fine all-in. Do you think liquidity dries up bc of this outage?
-
-
I guess a lot depends on the day-to-day economics of Serum market making looks like, which I'm not familiar with. My guess is the prop firms fire off cancels pretty fast, mostly avoiding being picked off. The smaller algo traders take the heat, and some reach max-pain.
-
Right now a lot of the incentive to market make are the liquidity mining rewards rather than the order flow per se. So maybe Solana/Serum accelerate the rewards as an apology gesture.
End of conversation
New conversation -
-
-
It's a big cost nonetheless, having all your orders eaten to be instantly few % underwater should not happen. First few minutes, the book will likely be empty, after that we see whether the MM's need to puke or not :/
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.