Congestion might slow down the chain but that doesn't mean the devs stop shipping!
Here's what we did this week - A short ๐งต
โ As mentioned last week, we're currently back-testing our various parameters and the data looks very promising!
Despite Solana congestion and stale price quotes, we're pushing through. We'll be moving towards forward-testing as soon as we overcome this hiccup ๐ค
โ We're also currently working on implementing pyth pull model - What does that mean? Well it ensures us that we get the best speeds powered by @PythNetwork
โ Here's how we at GooseFX are tackling Solana congestion issues ๐ https://t.co/H8lwstaxBC
โ We're also done with implementing custom priority fees for our users across our DeFi suite - Just need to tinker it out on the backend before we push things for you guys ๐
While the week has been slow for us, we won't stop till we become your @solana DeFi destination ๐ค
In the meantime, why not sip your morning coffee and read up our blogs at https://t.co/1PW7AEtkvO ๐
FIN
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We've written over 100 blogs since 2023 educating the @solana ecosystem!
Here's a quick rundown for top blogs to read up during this cozy weekend!
Bookmark this ๐งต๐
We've tackled a lot, but there's still plenty on the to-do list!
We're currently working round the clock to make sure we deliver the best @solana DeFi experience to you and won't stop till we reach there๐ค
Here's a short primer on what we did this week โ
Single Sided Liquidity Pools
โ We've already done a much more in-depth tweet about the major updates that we've pushed this week for our SSL Pools ๐
https://t.co/RCoqMm5nKT
However, apart from that
โ Curious about where your deposits are? We're working with @assetdash to display our single-sided liquidity pools' data right on the front end!
โ Backtesting, Backtesting and more backtesting! We're still working on millions of parameters over huuuuuge amounts of price data for further refinement of our SSL Pools!
โ You want it, you got it! We're integration a Swap widget on our Farm page so that you can seamlessly swap between your assets in a few seconds! ๐
Perps DEX
โ Bringing you the ultimate DeFi experience on mobile is our goal and thus we're reworking our mobile UI screens to bring you just that ๐
While we cook new stuff on the back end, in the mean time Intern has written some sweet and short blogs like the one below that you can check out over at
๐ https://t.co/O0gE7uDiz2
FIN ๐
Update 2: We've made some incremental progress on our new algo. Below is a breakdown of what we are working on and what blockers there are.
- Solana congestion: Our AMM relies on using the latest oracle price based on slots. Currently from our monitoring infra we are seeing only a 60-80% success rate, this means only 2/3rds of the time at most are we going to offer a quote for a swap, thus resulting in low volumes
Solution: We are implementing Pyths new pull model to be able to get the most recent oracle slots. Eta ~2 weeks as it was just released to mainnet recently and requires testing. Hopefully with 1.18 some of these issues also resolve themselves.
- New algo means reintegration with DEX aggregators (ex. Jup). We are working with our partners to get our program upgrades pushed to the latest version. We are thoroughly testing but this takes time as we have to review other protocols code and make sure quotes:swap parity match. There is no margin for error as we could disrupt other protocol services drastically if mistakes are made. ETA ~2 weeks (although could be longer due to third party's time to review)
- Lastly, we are continually modifying, backtesting, and iterating to improve our SSL algo. This is an ongoing process, however, once the above two tasks are alleviated, the R&D work becomes more of a background process that users will not be affected by.
Once again we appreciate the support and patience from our team and users! I've said it many times before but will say it again, this is one of the most challenging undertakings in all of crypto - the road from 0 to 100 doesn't happen overnight! ๐
Every week we get one step closer to being your @solana DeFi destination!
Let's take a peek under the hood and see what we did this week ๐
Single Sided Liquidity Pools
โ We're currently backtesting with over 1,000,000 PARAMETERS with data provided from @DuneAnalytics , @PythNetwork and @JupiterExchange
We're seeing some promising results here in reducing risk while staying capital efficient!
โ Coming onto our audit by @osec_io , it's at the final stages.
We have finished all the patches suggested by them!
โ We've also pushed out minor UI changes that you might have noticed on our mobile version or the Rewards tab
Perps DEX
โ Currently, we're optimizing our Python MM SDK so that you can run your trading algos much more efficiently!
โ Transactions failing? Implementing dynamic priority fees across all our dApps!
โ Finally, if you've been in our discord townhall, you would know about [X]
https://t.co/funfNJGmZ6
If you don't, introducing Operation [X] ๐
https://t.co/Sxs6Y5z68t
Building a native protocol is tough. However, this path has been made easier due to your never-ending support for us and we deeply appreciate each and every member of #GooseGang
Upwards and onwards!
FIN
What can you do with GooseFX?
- Stake & Earn yield with a single asset
- Stake $GOFX & Earn USDC daily
- Trade $SOL perps while Earning from rebates, referrals, funding - all while paying minimal fees!
GooseFX joins Operation [X]
Now earn yield by simply depositing a single asset & earn [x] with pools secured by @switchboardxyz oracles!
Learn how ๐๐งต