[Update] Atrix SRM Liquidity Mining

Hi everyone, kaiba from Atrix here!

I wanted to provide an update with how we’ll be allocating the SRM grant we received earlier from the Serum DAO. The following is the initial emission rate we set for the following Atrix pools starting Nov. 3rd:

  • BTC/USDC: 2894 SRM per day
  • ETH/USDC: 2894 SRM per day
  • SOL/USDC: 2894 SRM per day
  • SRM/USDC: 2894 SRM per day
  • USDT/USDC: 1400 SRM per day
  • LINK/USDC: 2894 SRM per day

We’ll be stopping emissions for the LINK/USDC pool and reducing emission rates for other pools in favor of supporting other significant projects with emissions, similar to what Raydium has done.

With think this will support the Serum and Solana ecosystem more than incentivizing major pairs further, for which we accrued a sizable amount of liquidity for already.

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Appreciate the update, keep them coming.

How many SRM have you emitted so far?
Do you have any metrics on how successful you think it has been at growing CLAAOB activity?
Anything else to say?

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@kaiba I would love a response please, tks

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When you asked before, with 5 farms having a rate of 2,894 SRM/day and 1 farm having 1,400 SRM/day for a duration of 17 days, Atrix emitted 269,790 SRM. We’re currently working on getting exact data for our orderbook activity, as getting accurate order fill data from Serum is a little challenging at the moment.

So nearly a third in two weeks? Thanks

Can you prove to the Foundation 100% has been used for the LM program?

With liquidity mining programs, the emission rate is usually high for an initial period to incentivize usage, and Atrix also had quite a bit of liquidity to be incentivized. Emissions are better compared to the TVL we are incentivizing (for example 30% APY on 100M) instead of comparing to the proportion of the grant amount (27% in ~2.5 weeks), since Atrix could make this grant last for 1 year, but that wouldn’t help anyone.

As another example, Raydium’s SRM emission rate for some farms is much higher than Atrix’s farms, in terms of SRM emitted per day, as seen below. @AlphaRay could explain this in detail and provide transaction history of their SRM grant so the community better understands liquidity mining programs (in a separate thread giving an update about Raydium’s recent grant).

All transactions for the SRM Atrix received are available at the link below. There is also some SRM being held in a token account for future farms, like mentioned earlier. To be sure that the SRM was used for liquidity mining, the token accounts that SRM was transferred to can be verified with the following steps:

  1. Go to Atrix
  2. Open a farm (for example Atrix)
  3. Click “View accounts” at the bottom of the page
  4. The “Rewards account” is the account SRM tokens for farming will be stored in.
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Will Atrix go open source?

Yes, definitely after Solana 1.9. We’re currently revamping the AMM program to take advantage of Solana’s new transaction model.

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Can you give the community another update on your two ongoing LM programs?

How many SRM have you emitted so far, can you show us where on chain to see the disbursements going?
Do you have any metrics on how successful you think it has been at growing CLAAOB activity?
Anything else to say, maybe are you participating in the January hackathon?

Sure, for on-chain activity, the steps in my reply above are the same.

We’ve found that incentivizing liquidity on most token pairs for the short term attracts much more mercenary liquidity than expected. So we are now focusing on helping new and cross-chain projects start and grow their communities through liquidity on Serum. More announcements on these collaborations to come soon!

Serum v4 will help us get the most accurate volume stats once that is released. And yup, Atrix is a sponsor of the Convergence hackathon. We’re excited to see the projects participating!

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