GooseFX - August Update (2024)

GooseFX achieved over $717,150,000+ in trading volume and generated $708,910+ in fees. We now have over 27.17 million $GOFX staked by 882+ stakers who are earning real yield in USDC!

Single Sided Liquidity - SSL

Update on SSL Phase 3

With the multiple testing conducted in the past, team Goose has decided to introduce a semi-non-oracle approach; soon the implementation will be handed over to DEX aggregators to update our rust algo.

Semi-Non-Oracle Approach

• Oracle Prices
  • Trigger quoting when the algorithm activates.
  • Pause if the Oracle price significantly deviates from our quote.
• Quoting Strategy
  • Assess the impact of swaps on pool balance/imbalance.
  • Using our own trade volume to set quote widths.
  • Similar to a scalping algorithm, but user-selected trade sizes.

In the meantime, we are cooking up something secret to start gaining more volume on memecoins.. Stay tuned 🤫

Progress on Phase 3 Implementation

• Testing and Backtesting
  • Refactoring and testing of phase 3 backtest code.
• Running tests quotes with oracle prices every 100 slots.
• Algorithm and Strategy Development
  • Introduction of a semi non-oracle approach for quoting.
  • Utilization of trade volume to determine quote widths.
  • Ongoing development of strategies to increase volume on non-bluechip tokens.
• Integration and Deployment
  • Successful testing of SSL swap and arb transactions.
  • Deployment of updates to reduce transaction size errors.

With the completion of the Rust code and successful backtesting, we are on track to enhance our Single Sided Liquidity pools 💪

Guess what! We are proud to be the first and largest user of @PythNetwork pull oracles with 3.7M+ price updates!

GooseFX's Single-Sided Liquidity pools, pulling the boundaries of DeFi on Solana

GooseFX Perpetuals DEX

Last week, we successfully distributed GooseFX Perps fees, including accumulated fees from the past seven months, totalling over $12.5K in revenue!

We were thrilled to see users earning over $800+ in passive real yield on Solana!

GooseGang chads swapped the yield and bought $GOFX tokens. Our OG members like these keeps us going 💪

Upcoming & Misc

• An upcoming feature on our farm page will allow you to swap tokens at the best rate possible.
• Our SSL farm will handle the routing for these swaps, ensuring you get the best deal.

Alpha

Blogs & Threads of the month

Discover the differences between spot and perpetual trading to find the best fit for your strategy.

Spot vs Perps Trading

Understand the difference between spot and perps trading and learn the best places to trade these on Solana.

GooseFXSam

Learn the must know chart patterns for your crypto trading strategy!

Top 6 Chart Patterns for Crypto Trading [Guide]

Essential charting patterns like wedges, double tops, flags and triangles trading strategies

GooseFXSam

Tips from Goose Intern to manage your risk in these volatile markets

If you have been active in the Solana DeFi eco, make sure to have a look on the $CLOUD airdrop

Stay Tuned with #GooseAcademy

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Disclaimer: The statements, proposals, and details above are informational only, and subject to change. We are in early-stage development and may need to change dates, details, or the project as a whole based on the protocol, team, legal or regulatory needs, or due to developments of Solana/Serum. Nothing above should be construed as financial, legal, or investment advice.