Conversation

1) Some brief thoughts on swap.projectserum.com:

Oct 27, 2020

2) NOT INVESTMENT ADVICE.

Oct 27, 2020

3) AMMs have problems. Primarily impermanent loss; or put another way: blindly providing while people pick you off to market moves.

SBF

@SBF_FTX

Oct 27, 2020

4) How about Serum Swap? Well, it's *less bad*: a) gas fees of $0.00002 b) 1 second settlement, so arbs should happen closer to market price but IL is still there.

SBF

@SBF_FTX

Oct 27, 2020

5) So why use it? a) yield: it's a convenient way to drop tokens. e.g. right now there's a 1,000,000 SRM airdrop on Serum Swap b) New project: if you have a new coin and want initial liquidity, it's easy to drop it in an AMM.

SBF

@SBF_FTX

Oct 27, 2020

6) What's the future of AMMs on Serum? Pools: docs.google.com/document/d/1lm A generalized primitive that can create: a) customized AMMs b) AMMs trading on orderbooks c) Pooled funds d) borrow/lending e) yield pools f) lots of other stuff

docs.google.com

Pools: a generalized primitive [EXTERNAL]

Pools: a generalized primitive A Pool P works as follows: It’s an account that can hold assets You can create P by sending in some assets; you will be given back a Pool Token T which represents your...

SBF

@SBF_FTX

Oct 27, 2020

7) At some point, 'AMM' blurs into 'on-chain trading algorithms and funds', which are real useful things. And on Solana, you can actually build and customize them, because it's cheap and fast. And that lets them be powerful.

SBF

@SBF_FTX

8) Pools are coming soon. But for now, enjoy the harvest. 1m SRM yield over the next month on these Swaps: SRM/BTC SRM/ETH SRM/USDT SRM/USDC SRM/SOL SRM/YFI SRM/LINK SRM/SUSHI SRM/FTT SRM/FRONT Swap on! Or don't; up to you, really.

3:02 PM · Oct 27, 2020Twitter Web App

Replying to

and

哈哈爱谁谁 love who you want

Replying to

and

SRM/LMS 🚀🚀🚀

Replying to

and

Nice one. Any idea if someone has done a noob-friendly blog post or video on how impermanent loss concept applies to

@solana

as compared with uniswap for example?

Replying to

and

Srm to moon soon

Replying to

and

Adam Cochran (adamscochran.eth)

Replying to

and

Can we get SRMSwap LP tokens depositable on FTX as collateral? I would use this but don't want to pull out collateral. Even if its just the major BTC/ETH/FTT/USDC/USDT pairs?

Replying to

and

Thanks for advancing the space

@SBF_Alameda

! AMMs will play a heavier role as we move forward in this crazy space. They’ll like become more refined and more nuanced with (hopefully) near-elimination of impermanent losses.

Replying to

and

Can we LP on the SRM/ETH pair (for eg) from metamask? Or do we need to wrap ETH into the solana network?

Replying to

and

How do I send my ERC20 Sushi to Sollet.io? I entered the contract address via Coingecko and then I use my Metamask to send it to the deposit address per Sollet.io but it says invalid address. There are no metamask connection via swap either.

Replying to

and

Never mind, Sollet has an ERC20 converter to Wrapped Sushi.