Making markets more efficient. Team behind @Fermitrade https://xitter.cf/t.co/s5nzgXwZSI
Singapore
Joined February 2023
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A decentralized system can be as fast as a centralized system, if transactions follow a deterministic, forward-in-time ordering or inclusion rule after inital acknowledgement.
Fermi Labs retweeted
did the thing. Solana now has p*pertrade - except faster & with higher throughput than hyperEVM. [have to star cuz X filters lol]
Immutable, open source, verified:
solscan.io/account/PNCL5ainc…
formal verification following soon as well.
All transactions are queued fifo, and executed near instantly. No priority to larger transactions - because solana allows it. Token is instantly liquid.
give it a spin, tell us what you think:
penciltrade.fun
Fermi Labs retweeted
Feature: Edit orders directly on the chart
You can now add or edit the Take Profit/Stop Loss for your order, by simply clicking and dragging on the charts.
What should we ship next?
app.fermi.trade
Fermi Labs retweeted
The same debate continues on a new arena today - perps on solana
Our bet is that serious traders prefer firm liquidity, no last look, and reliable execution offered by clobs - as evidenced by the majority of flows in tradfi markets.
🚢🚢🚢
One-click trading is now live on fermi trade!
You can delegate signing authority to a client side key for upto 7 days, for seamless trading.
That, and a number of new UI upgrades.
app.fermi.trade
Fermi Labs retweeted
the aliens are waiting for us to build onchain nasdaq before revealing themselves
"No frontrunning" is a critical property for a world exchange. Recent events on Solana[1], Fomo[2], and other exchanges[3] show that plaintext orderflow can and will be exploited by actors across the supply chain.
Encryption is one option - eg. BTX on monad[4]. However threshold encryption comes with a major latency penalty. We bet on timelock encryption as the ideal middle ground between fast execution and secure transaction privacy.
[1]xitter.cf/andreivacariu_/status/… , xitter.cf/TheDEFIac/status/20983…
[2]xitter.cf/AmirOrmu/status/210358…
[3]xitter.cf/0xngmi/status/21000259…
[4]xitter.cf/keoneHD/status/2074621…
We are signaling the near-future direction of Monad: becoming the blockchain that delivers MEV-resistance, while also improving on industry-leading performance.
This will be delivered through two major research innovations: Cadence (announced today) and Encrypted Mempools via BTX (last month).
Cadence in particular is @category_xyz’s novel MCP protocol, featuring 100ms block times and 200 ms finality, by taking pipelining to the logical conclusion and interleaving block proposals.
The team has been implementing for several months and we’re excited to show you what’s next. The work builds upon what’s already great about Monad - async execution, deterministic RaptorCast, and a carefully designed, modular consensus system - so the path to delivering this, while hard, is doable.
Fundamentally, we believe that decentralized systems can deliver the best of all worlds - trust minimization, pre-trade privacy, fast finality, reliability, and global access - and we’re here to prove it.
Welcome to the era of NYSE-grade execution on Solana!
Meet Fermi Trade - the most performant perpetuals exchange on Solana.
With Fermi, we sought to solve the core issues that make onchain trading inferior to CEXes - to deliver a truly NASDAQ class trading experience.
Try it out: app.fermi.trade/perps
Fermi Labs retweeted
The snappiest trading experience on solana by far.
Invite codes below if you wanna give it a spin!
Meet Fermi Trade - the most performant perpetuals exchange on Solana.
With Fermi, we sought to solve the core issues that make onchain trading inferior to CEXes - to deliver a truly NASDAQ class trading experience.
Try it out: app.fermi.trade/perps
Perps are today viewed primarily as venues where retail speculates on prices of assets.
We have a much broader vision for the future of perpetuals. We see onchain perpetuals becoming leading indicators of price discovery across asset categories.
It will also become one of the preferred ways for institutional and professional traders to bet on their thesis. For this cohort, maker priority is a bug not a feature.
The problem is validators have too much discretion on what they can do with transactions.
For example, all of the following are valid blocks, and validators will chose the most profit-maximizing ordering.
🤖 Made with AI
Fully onchain price discovery for all assets is the goal. The microstructure to support it is almost here.
Mainnet Beta Phase-2 @fermitrade loading [▓▓▓▓▓▓▓▓░░]
TLDR: propAMMs are cool, but they can't replace CLOBs.
vote NO on SIMD-0553 if you want onchain NASDAQ
solana @perps just got a major upgrade
Fermi Labs retweeted
Thanks to all our early users for trying out the private beta so far!
There's clearly demand for low latency @perps on Solana.
We're expanding usage limits starting this week. Reach out for access!
🤖 Made with AI
