Atrix SRM Grant Update

Hi guys, Kaiba from Atrix here with an update on Atrix’s previous Serum grant and great overall traction.


Emissions

These are the emissions allocations we have made since the previous 6M SRM grant:

  • SOL/USDC: +3.5M SRM
  • BTC/USDC: +1.75M SRM
  • GMT/USDC: +250k SRM (now inactive)
  • GST/USDC: +100k SRM (now inactive)
  • agEUR/USDC: +18k SRM (partnership with Angle Protocol)
  • SLND/USDC: +14.4k SRM (partnership with Solend)

SOL/USDC has the highest allocation of SRM emissions, as it’s by far the highest volume pair on Serum and Solana overall, so liquidity should be best there.

Emission APYs are generally low as we want Serum volume to be incentivized for the long term in a capital efficient manner, rather than spending SRM in a short period of time for a burst of liquidity mining.

In fact, because of new market conditions, we decided to cut back on emissions for non-core pools such as agEUR/USDC (which was incentivized in partnership with Angle Protocol) due to low capital inefficiency when comparing Serum volume generated to SRM rewards distributed.

Traction

Serum’s traction with respect to share of Solana trading volume has improved over time largely due to Atrix’s market making contributions and our impactful allocation of the SRM grant.

Atrix is consistently the highest volume and most active market maker on Serum, pushing Serum above all other Solana DEXs in global volume rankings.

As seen below, during the past 24hrs in creating this post, over 70% of volume on Serum was facilitated by Atrix’s market making.

Solana DEX volume ranking (CoinGecko):

Serum maker volume ranking (Serum Analytics):

Serum orderbook depth (Openserum):

Serum ATH Volume:

Here are some more updates:

We’re continuing to improve the protocol and user experience regardless of bull or bear, and we appreciate the Serum community’s support in helping us grow Serum even further.


  1. We have open sourced an SDK to allow anyone to query our on-chain farms and historical transactions: GitHub - skaiba0/atrix-farm
  2. Below are labeled transactions showing which farms SRM was moved into/out by the Atrix team, starting with the 6M SRM grant at the bottom. Note that USDR transactions are the Atrix team assisting the Ratio team with their SRM grant operations.

Thankyou for your transparency and update. I hope all grant recipients follow suit.