🚓Next Steps

Fermi Labs will continue finding creative ways to unlock more liquidity for the DeFi markets on Solana

We have charted out a rough roadmap of core feature upgrades that would enable unlocking even more liquidity in the Solana DeFi ecosystem. These ideas are presented below, in no particular order:

Cross-market & cross application liquidity for Fermi DEX [DONE]

On Fermi DEX, users can open orders by "approving" funds instead of transferring them, allowing them to utilise the same liquidity across any number of markets or applications they desire. Old text: In the current setup, liquidity is locked per asset, per market, on Fermi DEX. To enable even more seamless capital utilisation, we plan to upgrate to unified, cross market liquidity accounts for each asset, instead of bifurcating the liquidity by market. This would require another redesign of the program logic from the ground up, but we're already working on it!

Incentive Mechanisms

To assist in the commercial viability of the project, fee mechanisms, and potentially reputational mechanisms need to be implemented. These include Market fees, maker and taker fees, as well as default fees when users fail to supply JIT Liquidity in time. In addition, other reward mechanisms to reward early liquidity providers may also be considered. Code Audits and Refinement Before commercial deployment, we plan to have various stress tests, including bug bounties, audits, and an alpha version with limited liquidity to ensure there are no unforeseen security risks to users of Fermi DEX.

Cross DeFi liquidity Primitives In the future, we can take this even further. By creating a unified suite of DeFi products, including lending, borrowing, and derivatives trading, a user could fund activities across all those verticals, from a single margin account - or "cross DeFi" liquidity abstraction. This is the target of Fermi Labs for the future of DeFi - building capital efficient pools of liquidity in DeFi, by utilising ever higher levels liquidity abstraction, combined with JIT Liquidity- to absolutely maximize the utility that can be gained for each dollar deposited in Fermi Vaults. Some of the next markets that we could potentially target with Fermi Labs JIT orderbooks - include lending markets (securitised debt orderbooks), and derivatives markets (futures and options). Expanding the best in class liquidity abstraction logic to various financial applications is core to the Mission of Fermi Labs. Misc Fermi DEX was also identified by Messari research as one of the 6 most promising projects (out of 800) from the Solana Grizzlython: https://messari.io/report/solana-analyzing-downtimes-statistics-and-ecosystem-development