(Mango)Solana Money Multiplier

Good mornin Friktion, Jason and fellow humans!

I propose that I integrate Entropy first into my little motley crew of DEX on top of Mango for my Mango Money Multiplier, soon undergoing a rebrand to Solana Money Multiplier.

For your DYOR:

https://riptide.fair3d.me - this may go down if I don’t pay the toll trolls at GCP

Anywho, now that you’ve read up, I’ve been hounding a few other options to integrate Mango Delegacy. What I mean by that is that I’ve created a pool on that third link, and people can add liquidity and receive a pool token and that liquidity is in a mango account that has delegated to me. Now, I can trade the capital in one account vs many, and it’s a more pleasant experience for me cuz idk wtf is going on and why there’s no light signing messages here yet but there’s a fee per order and you maximize yield by reducing fees :slight_smile:

Anyhow, now that there are potential returns from the thing we can cash out our lp tokens pay some fees and grab usdc back (for now - other spls soon, and indeed dev is working only in COPE on localhost but that’s another story)

Now, we might get 110 USDCs back for our 100 LP tokens.

Regardless, any tokenholder that also staked gets their proportional % of all the fees vs the other stakers. So you can be in, and hodl -or in and stake and earn (more?) yield

this isn’t a sales pitch

so, any other service that integrates mango delegacy (Zeta’s on it - those are some gr8 ppl) can let me do stuff like manage an xmargin (which to be frank I didn’t even realize was a more global term, I did a bunch of code for a company literally called x-margin ha, but, that’s a long long time ago) and now we can put baskets of cryptos into only the most advantageous positions :slight_smile: not only that but you guys have power perps and by golly the funding is probably nuts (as we can plainly see in Volt #3) so

I wanna bring you guys (probably) a bunch of liq :slight_smile:

I need you to go ahead and integrate mango-like delegacy whenever you have a chance, if it’s not there, and FOSS this stuff :slight_smile:

I think that’s about it,

Keep on COPEin on folks

1 Like

This is some great stuff, love the work you’ve done on this. Democratized market making is the future of France - liquidity providing and market efficiency should be available to all participants, not just a few siloed firms.

We’re at a crossroads right now on whether to implement liquidity providing “Volts” completely on-chain and decentralized or whether to do it in a less centralized way via something like mango delegacy. We could issue LP tokens corresponding to account equity at the time of deposit like you mentioned.

The first one makes it much harder to express liquidity providing logic compared to Python or Typescript, but has the advantage of being more decentralized, trustless way.

What are your thoughts on going at things completely on-chain vs. via a delegator?

These are my thoughts on decentralization for decentralization’s sake :slight_smile:
I think Vitalik’s go-to disclaimer before his current NFT thing was this: you guys know that you’re still trusting an awful lot of moving pieces, and parties, yes? There’s network risk, and then on top of that you have to trust the devs of any given program to not have missed something that may end up being a critical bug :slight_smile:

Now, we can abate this by taking advantage of some of the great minds on Solana contributing in silence that fix some of the biggest holes in some of our biggest primitives :slight_smile: if you check @redacted_j and @_austbot’s tweets where they mention @hasheddude - this person is incredibly valuable and the morals are aligned to ensure we’re all safe, sound and cozy with our program/contract risk.

That said, everyone’s human :slight_smile: and there’s about as much risk for the project as the user, when it boils down to potential damages, both onchain and off :slight_smile:

The benefits of onchain: verifiable tx, proving ownership/signing, etc etc. we’re familiar with the pitch.
The benefits of offchain: truth be told the people in our potential LPs have already committed what they’re willing to lose, by buying LP tokens. The offchain solution is almost production-ready, following some substantial time running a smol humble dev balance in forward-testing. The offchain solution can operate on many given markets, many times in a given block - you’ll notice the code is threaded and thread.daemon = True. It’s also much more capable of things like a Kill Switch for gray/black swan events, manual or auto, and in less bad scenarios that are still kinda bad it can market out %s of exposure much more quickly, etc. etc.

Bonus: LPs already tokenize, as a separate layer :slight_smile: so there’s no requirement to be onchain to tokenize :slight_smile: