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Fermi Labs
43 posts
Fermi Labs
@FermiLabs
@FermiTrade mainnet now live in beta.
Backed by @equilibrium_co, @BigBrainVC, ECHO.xyz and angels
discord.gg/kNcktKSk7u
1/ We’re excited to announce our $1.2M pre-seed round, led by @equilibrium_co & @BigBrainVC . With this funding, the @FermiLabs team is focused on building a scalable and capital efficient orderbook DEX on Solana.
- Replying to @FermiLabs3/ Orderbooks are some of the highest throughput systems in existence (in terms of number of messages) - They are also the “rails” responsible for matching and settling over $130T in transactions annually. As such, it's one of the most critically important pieces of digital
- Replying to @FermiLabs4/ The problem - onchain orderbooks today are illiquid. This is driven by the problems of capital inefficiency, high latency, and lack of ordering guarantees - making markets on present day onchain orderbooks is a nightmare for LPs. Making orderbooks fair, fast, efficient, and
- MEV will persist as long as block builders retain the privilege to decide ordering & inclusion within a block. A question that's not asked often enough: is it possible to cryptographically enforce strict FIFO ordering & inclusion at ms resolution? If so, that would finally giveThesis Drop: MEV has become the dominant limit to scaling blockchains. Our data reveals that the dominant paradigm of MEV extraction has moved to on-chain searching, and is starting to consume most of the capacity of most high throughput blockchains. 🧵 👇
- Replying to @FermiLabs2/ We’d also like to give a shout out to the angels that were early backers of our vision: @FarmerJoe0x, @macbrennan_cc / @temporal_xyz , @TheOnlyNom, @abondar92, @NotDeGhost / @osec_io, @ashwathbk, @mhonkasalo, @gaius1337. Additionally, @SolanaFndn for a grant funding our
- Replying to @andst7Fermi was incredible. I like that he cared that we see no evidence of aliens. It is a fundamental question about the nature of the universe.
- Replying to @HelloMoon_ioEfficient capital utilisation, available via composability + JIT. Cross-market and cross-application liquidity abstraction will lead to extremely high ROI for DeFi market markers.
- Replying to @joemccann and @solanaOrderbook DEX with just-in-time liquidity. x.com/FermiLabs/stat…
- Replying to @tolyWe'd submit a third vision - its not just about centralised vs decentralised sequencing, its about cryptographically constraining the sequencer to behave honestly re ordering (eg. FCFS) and censorship, and making any misbehaviour detectable and slashable. Leaders in
- Replying to @tolydoes it correspond with increasing max tx size, total CUs, and/or stack depth?
- Replying to @FermiLabs2/n ... which traded off increased trade precision of orderbooks, for reduced code complexity to be compatible with EVMs. #Solana, as a high throughput blockchain with accounts abstractions, enabled the second generation of DEXes, namely orderbook based DEXes, such as Serum.
