[PROPOSED] Atrix SRM Grant Proposal #2

Hi everyone! Kaiba from Atrix here.

Atrix is a fully Serum based AMM that is currently contributing almost $700M in TVL to Serum with competitive liquidity. Atrix orders on most markets are often some of the tightest on the orderbook, enabling productive ecosystem-wide liquidity.

With our rapid growth, many developers have asked us how to integrate with Atrix to perform trades, and we tell them to just trade on Serum! These developers are surprised, since they’re used to sending swap transactions to an external DEX, like Raydium or Orca. I want to highlight again that Atrix is an AMM that utilizes the Serum DEX exclusively for all its liquidity and trading infrastructure without any internal, fragmented liquidity — unlike any other AMM.

Atrix’s swap feature performs swaps exclusively on Serum without any routing to external pools that don’t benefit Serum liquidity — unlike any other AMM.

Atrix currently has 60 pools and 36 farms, ranging from Wormhole token based pools contributing $100M+ in TVL for cross-chain liquidity, to many smaller permissionless, community powered farms supporting small-cap projects across the Solana ecosystem — unlike any other AMM.

Atrix sacrifices millions of dollars in protocol trading fees that could come from an internal, fragmented liquidity pool to instead support a positive feedback loop for Serum liquidity — unlike any other AMM.


Our proposal for this grant is 2M SRM. Since the last grant, Atrix has more than doubled TVL and liquidity for major token pairs such as SOL/USDC. We would now like to support newer projects on Solana and tokens migrating from other chains. Onboarding these projects will massively grow the Serum ecosystem, but they will need to be incentivized to partner with a Serum exclusive platform like Atrix since there’s so much other competition on Solana. This grant is aimed at supporting that. Atrix will then also grow its TVL to $1B and beyond, while also directly contributing it to Serum’s TVL.

The following are a few other initiatives Atrix will be undertaking:

  • Supporting launches: As we noticed dozens of projects creating permissionless farms on Atrix, we realized that there are many other ways we can support projects from their earliest steps. We don’t have specific details to share on these initiatives yet, but we believe they will be great ways to onboard new projects exclusively into the Serum ecosystem!
  • SRM distribution: Many Serum community members have noted how governance power is not optimally distributed in terms of decentralization. Atrix’s initiatives will distribute Serum governance power widely and fairly to community members through productive SRM emissions.
  • Open source: Due to having a relatively a small development team until recently while also having to move fast in Solana’s competitive landscape, we didn’t find the time to curate our codebase for open source standards. However, with Solana 1.9 and the AOB just around the corner, we’re revamping our AMM program and are committed to open sourcing Atrix.

Atrix’s proven unparalleled alignment with Serum makes this grant the ideal way to expand the Serum ecosystem and strengthen our communities.

3 Likes

Very good… 100% Serum based and distributing token to hodlers for REAL voting power!! But also need SRM burn

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Thoughts are:

Be good to give the earmarked amounts for liquidity mining to as many projects as possible

If no other projects stand up, giving it to projects that send 100% activity to Serum orderbook is the best choice.

This sounds like a good usecase.

Would be great if you continue to keep the dao updated on emissions, your thoughts on the auccess of your endeavour, and just a general update on the projects.

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As a Serum Holder and InvictusDAO holder, please reach out to the invictus dev team to see how Atrix / Serum / InvictusDAO can align incentives.

Right now, they are using the Raydium LP tokens for bonding.

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P.p.s. please consider supporting asgard,now called god dao. Its liquidity is through atrix pools not raydium. Be great to see a ohm fork 100% plugged into serum.

Interesting can you provide a link to this asgard dao? I’ve never heard of it.

I’d much rather support an ohm fork on solana that uses the serum order book.

sent you a dm to save the thread

We just created started the on-chain vote for this proposal: Governance | Solana