Together strong

Hi all :wave:

Bonfida has been a core contributor and partner of Serum since the beginning. It went from being one of the first UI on Serum to the main architect of the Serum smart contracts.

What did Bonfida built in the Serum ecosystem?

Bonfida started by building things on top of Serum (e.g UIs, data API and automated fund management on Serum). However, more recently Bonfida went one step further by fully rebuilding Serum’s codebase and introducting the concept of Asset Agnostic orderbook. The asset agnostic orderbook (Serum Core) finally enables Serum to be more than just a DEX for SPL tokens and allows any type of financial asset to be traded on Serum. Not only Bonfida built Serum Core but it also rebuilt Serum DEX (i.e an SPL token DEX) on top of the asset agnostic orderbook.

Bonfida would like to further align the product and development teams by leveraging the great work that has been put into setting up Serum’s DAO and integrate Bonfida into it.

What does it mean in practice?

In practice this would mean using the same DAO infrastructure for both Serum and Bonfida i.e giving SRM and FIDA holders voting rights on proposals.

TL;DR :point_down:

Bonfida would like to join the Serum DAO to further align the products and development teams.

15 Likes

Serum has been made stronger with Bonfida by its side. The team has proven to be not only very aligned with Serum but also capable of shipping secure products quickly. Putting aside tokenomics for a moment–a very important topic within this discussion–I support exploring any effort that will continue to align the two communities. Competent builders are a scarce resource, and Serum should make more of an effort to convince teams to not just compose, but to be completely dedicated to growing the ecosystem. This proposal–again, tokenomics aside–seems like a step in that direction, and having more distinct entities that own unique parts of Serum will both accelerate product development and further decentralize the protocol.

6 Likes

Chiming in as well…I think the sentiment about aligning communities building on Serum makes sense to progress the ecosystem as a whole because it seems the vision for Serum is to be the backbone of the full ecosystem and every project impacts that. I don’t see if its clear in the proposal but is this suggesting FIDA holders have voting rights on SRM proposals does seem a bit confusing dao branding wise - i.e. would SRM holders have voting rights on any FIDA proposals if there were to be bonfida changes that impact serum?

100% support. Stronger together

This is great!

Bonfida has been alongside Serum since DAY 1 and have achieved remarkable feats this year alone! :raised_hands:

It is a no brainer.

Its a YES from me.

100% support!

This proposal is definitely a win/ win situation for both communities

100% support.
Bonfida brings products that unlimitedly unleashed the power of Serum.
what makes Solana & Serum different from other Layer-1 platforms is the combination of high scalability and professional product built by traders, built for traders.
That is exactly what Bonfida brings: Serum Front-end, AOB, automatic trading strategies, perpetuals, etc.
It is unbeilable that there is a team is so efficient to bring so many creative products for Serum ecosystem, which will definitely help Serum be a dominator in DeFi 2.0.

100% Support!

Further collaboration from these two teams will only push Solana even further faster. :fire: :fire: :fire:

This is totally a no brainer, Serum and Bonfida have always been projects that work side by side,
When I think about Serum I think about Bonfida, and viceversa, this will only help push both projects and the whole Ecosystem even farther ahead.

Excited for what’s to come!

I would love to see this happen. I really think Bonfida and Serum work very well together. This can definitely help with the entire Solana ecosystem

The Bonfida team has been one of the earliest contributors to not only Serum but the entire Solana ecosystem. They have shown themselves to want to the best for Serum and have shipped code efficiently and quickly to support different initiatives for Serum. I agree with Armani that this is a move that could converge the communities and end with a greater net positive effect, especially by bringing the Bonfida builders closer to the Serum team so that further collaborations can emerge. The tokenomics will be a key aspect of this and require deep thought but I am supportive of moving forward to that stage.

Agreed with tyver, the Bonfida team is one of the teams that have been supporting Serum ecosystem since day 1. Starting from the Bonfida UI, it extended into the Trading Bot, Naming Service, and Perpetual trading. Now the Agnostic orderbook can bring more volume in Solana and serum. Definitely see the value-adding from that end and more potential collaborations between teams. I’m supporting this to move forward.

Bonfida is a valuable ecosystem partner! Would be supportive of exploring this further!

Bonfida FOREVER. Very much down for this

Atrix fully supports this! I’d also propose a SRM grant for Bonfida for their work on the AOB and general contributions to the Serum ecosystem (Serum API, bots, programs, etc.).

The importance of the AOB for Serum really can’t be overstated, take a look at the details here: Serum Core - Serum

I’ll leave the exact size of the SRM grant up for community discussion, but I imagine that it should be one of the largest grants possible given Bonfida’s major contributions and their long-term alignment to the Serum ecosystem.

We are absolutely delighted that Bonfida and Serum can work in collaboration. Also, we believe the product which developed by Bonfida can bring great help to Serum.

Thank you very much for all the positive comments posted above. I think there are several ways of moving forward.

A first step would be to allow Bonfida to register a realm on dao.projectserum.com. This would allow one to access all proposals of both communities easily. I think that’s fairly important given that Bonfida has rebuilt 100% of Serum’s codebase and several Bonfida products are Serum related.

The longer term step would be to give voting powers to SRM holders for proposals in the Bonfida’s realm and vice versa. Obviously this is more complicated than as some proposals might want to exclude FIDA (or SRM) holders for appropriate reasons and that FIDA and SRM have different tokenomics.

TL;DR:

  1. Creating a FIDA realm on dao.projectserum.com is a first obvious step
  2. Allowing people to vote with FIDA and SRM on proposals that involve Serum and Bonfida will be important in the long run (e.g upgrading the AOB).
6 Likes

Sounds like everyone is in agreement with the general direction! I think these 2 steps also make sense.

Now that 15 days have passed; unless there are any remaining concerns, we could take this to the DAO voting platform now.

1 Like