We are very excited about Pools. Pools will be a flexible and fundamental primitive of Serum — and it can be almost anything you want it to be eg. AMMs, yield vehicles, collective asset baskets (like an index), and more.
Pools have the following properties:
- A set of assets (SPL tokens or SOL)
- A set of Pool Tokens representing ownership of those assets
- The ability to create or redeem the pool
- (optional) Admin ability to use the assets in the pool to allow for rebalances
The Ecosystem Pool, by Bonfida
The very first iteration of Pools will be an Ecosystem Pool launched by the Bonfida team. What the Ecosystem Pool represents is a basket of assets that make up the Solana and Serum ecosystem. To start, the assets in the Ecosystem Pool will be $FIDA, $SRM, $SOL, and $LQID.
Yes, LQID. The governance token of Pools. LQID will be available for purchase for the first time through Bonfida’s Ecosystem Pool. Fees from every creation and redemption are governed by LQID (for airdrops, buy/burns, grants, etc.).
There has been no presale of LQID; there is no team or team allocation. 100% of LQID tokens are held by EcoSerum to benefit the Serum ecosystem and SRM token.
There are 500,000,000 LQID tokens, and will never be more.
How to Participate
From now until the 22nd of December (HKT) after the $FIDA ISO ends, USDC can be deposited into the Ecosystem Pool. There is no limit to the amount of USDC that can be deposited.
After depositing USDC, users will receive a token (similar to an LP token) that represents their ownership of the pool. This token can be used to redeem assets from the pool depending on their share of it.
After the $FIDA ISO, the Ecosystem Pool will initialize and use all USDC available in the pool to buy the following assets — $FIDA, $SRM, $SOL, and $LQID at an even split (25% each). USDC will be removed from the Ecosystem Pool after this.
The pool is now live HERE.
Ecosystem Pool Specifics
The inclusion, exclusion and individual weightages of tokens for the Ecosystem Pool will be determined by governance. Every Sunday (HKT) the Ecosystem Pool will automatically rebalance itself based on the parameters determined by governance.
Fees for the Ecosystem Pool are set at 1% — 25% goes to the owner of the pool, 25% goes to LQID governance, and 50% goes to the GUI host.
*23/10 Update — fee has been increased 0.25 to 1%
None of the above is financial advice.
Bonfida does not provide services to personal accounts of current residents of the United States of America, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Antigua and Barbuda.
FIDA is not offered within the United States or prohibited jurisdiction.