Hello Serum community! kaiba from Atrix here with a SRM grant proposal.
I’ll start with a brief introduction of Atrix since we’re such a new project in the Serum ecosystem.
Atrix is a fast growing AMM and farming platform that allocates the vast majority of its liquidity to Serum without any internal pools — the first of its kind in the Serum ecosystem. Currently, almost 95% of liquidity in Atrix is locked in Serum, with further improvements to increase this currently in development.
We chose to go all-in on Serum because we truly believe that fragmented liquidity simply doesn’t make sense in today’s decentralized, composable world, and that liquidity should instead be shared in one location. We imagine a future where all assets are traded on a orderbook, with fully orderbook-based AMMs powering initial price discovery and liquidity for the long-tail of assets.
Atrix has been a key component in Serum’s recent steep rise on the DeFi TVL leaderboards, with almost $500M being contributed by Atrix to Serum at the peak, which deservedly garnered amazing support for Serum from the broader DeFi community.
We’ve also seen rapid adoption of Atrix’s new permissionless pools and no-code farms, with eight pools and farms being launched permissionlessly by the community less than a day after launch. We envision Atrix as the platform where most Solana projects launch and incentivize initial liquidity for their token, which then increases the network effect and liquidity of Serum.
To add, Atrix’s swap interface does not charge any extra fees on top of Serum’s default fees and is fully Serum based, driving 100% of Atrix’s swap volume to Serum. With further product improvements and ecosystem growth, we believe swapping on Serum through Atrix will provide the best price for users on all available pairs, eventually making it one of the top volume drivers in the ecosystem.
With this in mind, we propose a grant of 1.5M SRM out of the 5M SRM tokens available for the first 30 days of the grant cycle. Using SRM as liquidity incentives, Atrix will increase awareness of Serum and grow its TVL to $1B and beyond, contributing almost 95% of it to Serum as ecosystem liquidity and TVL. We think this is a very achievable target, since Atrix currently has over $350M TVL without any direct incentives from Atrix.
We propose the following Atrix pools to receive SRM emissions at a target APY of 15-20%:
With other partnerships in the works and multiple Atrix ecosystem projects currently in stealth, we think Atrix is in an extremely strategic position to build long-term value for the Serum and Solana ecosystem.