HGP-5 [DG] Solana DEX Infrastructure

Author: Dipfit 0xD8A

Original Post Date: 12 Feb 2022

Snapshot Proposal Link

Category

Development Grant (DG)

Summary

Proposing 2 million HBOT to be reserved for integrating Hummingbot with Solana DEXs.

Description

DEX volume on Solana is consistently high, and five exchanges (Serum DEX, Mango, Raydium, Orca and Saber) are regulars in the top 20 of CGs daily traded volume. Solana’s low fees and sub-second block times allow for on-chain order books, which are heavily dependent on professional market makers.

We propose two million (2,000,000,000) HBOT to be reserved for a Solana Dev Initiative in order to fund the ongoing and future development of Hummingbot’s compatibility with Solana on-chain DEXes and programs.

Eligible work

  • Conception and implementation of Solana Gateway base endpoints + client-side Solana connector
  • Serum DEX Gateway implementation + client-side CLOB support for Gateway endpoints
  • Conception and implementation of Mango Markets Cross-Margin Spot & Perpetuals for Gateway + client-side cross-margin & perp support for Gateway endpoints

(Note: non-existing cross-margin support may be eligible for a HGP-4 Dev Grant)

  • Raydium and Orca AMM Gateway implementation + client-side Solana AMM support for Gateway endpoints
  • Saber stable swaps support
  • Any similar implementation of a Gateway routing to an AMM or CLOB protocol on Solana with substantial volume and/or community interest.

Disqualification conditions

If the connector is not related to Solana, or not compatible with any existing strategy.

Milestones

  • The Dev Grant Budget is open for requests on the day this proposal is approved.
  • May 31, 2022 - Final day to create HIP requesting participation on this Dev Grant
  • June 30, 2022 - Final date to create PRPs related to approved HIP requests
  • If there is a way to inject an identifier into the Solana transaction metadata, then it should be used to track aggregate transaction volume from Hummingbot clients.

Treasury Allocation

2,000,000 HBOT budget, available until the end of Epoch 1.

Author: fengtality 0x352

I voted FOR this proposal.

I’ve known the Anatoly, Solana’s founder, since 2017, and I have already wanted Hummingbot to support trading on their blockchain since it is designed to handle the speed/volume that financial markets need.

There are a number of Solana projects including Serum, Mango, Drift, and Raydium that I believe will participate in this effort, so this should be a truly organic community initiative.