Run Serum Markets on Testnet or Stress Competition
It would be valuable for people to run Serum markets on testnet and stress test to break them.
Tasks to be done for this are:
Manage DEX upgrades
List markets with tokens
Provide a faucet (for those tokens) that anyone can use to get and trade on the testnet DEX
Provide a GUI for testnet DEX
Run cranks on testnet DEX
A grant is included for this project.
Introduce Streaming for Data from Solana Blockchain
It would be valuable to build a way to switch the Solana information model from polling to streaming to facilitate development of novel and more complex hybrid apps on Solana.
Regarding data feeds, the only current way to extract data from the blockchain right now is to poll a validator / RPC node. This is related to one of Serum's biggest problems: orderbook introspection and being notified as a maker when an order is matched. Implementing something akin to this would involve adding some functionality to the validator codebase.
In terms of architecture, the way a Solana validator currently works is by using a rocksdb instance for fast storage of state, and periodically committing transaction history to a Google BigTable instance. The idea for implementing this is to add some code to the rocksdb interface in order to intercept all calls to the database and stream out this information. A secondary server can then be used to process / filter / analyze / distribute this information as websocket streams. The implications of being able to do this are substantial.
A grant is included for this project.
💡 Project Requests and Grants:
AMMs that share liquidity with Serum
Building an open source AMM that people can use to place liquidity on Serum’s order book. See Raydium, and Atrix.
There are lots of variants and customizability but here are some ideas:
AMMs that trade on Serum’s markets
AMMs with more than two components
AMMs with easy to customize curves
If you build it to the below specs, it will receive a predetermined bounty instead of the variable one.
Parameters must be reasonable
Must be functional
Must have pool tokens
Must be open source
Must be able to launch new AMMs with arbitrary SPL tokens
Note: A draft of an implementation of AMMs on Solana can be found on the GitHub account of Solana Labs.
Building a basic borrow lending protocol where rates are determined by market participants using Serum’s order book rather than algorithmically.
Below is a list of GUI improvements that could be developed:
A tool to validate GUIs against the source code
Build support for on-chain triggered orders (stop losses, take profits) into Serum.
An on-chain oracle that takes prices from Serum markets, does sophisticated risk and sanity checks on them, and creates a clean price feed that other projects working on Serum can use.
Furthermore, once there are on-chain cross-chain bridges, those can be combined with this to create a fully on-chain cross-chain pricing oracle. Confer with Pyth network.
Takes in arbitrary signals
Can take from multiple sources
Combines in a reasonable way
Has reasonable error handling and outlier handling
Some way to charge people for querying it on-chain
A built-in way to use Serum orderbooks as an oracle
SPL Name Service
Create a table where the mint of a token can submit a name for their token; create a table where a token controls governance of the naming. If you create this, EcoSerum will support the token’s adoption.
Note: This is submitted on behalf of EcoSerum, a Serum node. Serum Academy is involved in the development of Serum but has not been involved in the development of Sushi in any way.
The Sushi community builds out support for Sushiswap on Solana
Sushi rewards are paid to both Ethereum and Solana/Serum based Sushiswap
Proportional to the TLV in each
Or alternately fixed to each pool
Open to other suggestions as well–what’s fair?
The Sushi community composes this with the Serum orderbooks
Each Sushi pool has a curve, currently constant-product
The pool sends bids/offers into the associated Serum orderbook to simulate that curve
This allows the Sushi AMM to share liquidity and volume with the orderbook
There are maker rebates on Serum orderbooks that the AMMs would capture; they can also add on their own fees
FTX has a bridge from ERC20 <> SPL (Solana token) Sushi; in the next week, Sollet.io will as well
Sushi will also be able to compose with a borrow/lending protocol on Serum to allow the pools to trade on margin, though that’s not necessary for V1
To clarify: Sushi would not be moving off of Ethereum in any way; this would be an addition, not a replacement.
Solana RPC Node Innovation
Upgrades that scale throughput and consistency for RPC nodes on the Solana network.
Protocols that manage decentralised RPC services for Solana built applications.