Whirlpools Rotation #23: February twenty third — March ninth


Bon Voyage to Aquafarms, Whirlpools Ahoy!

🌊 Whirlpools Rotation #23 🌀

  • Length: Thursday February 23, 2023 — Thursday March 9, 2023

New Whirlpools… 🌀

Tokens making their first look on Orca

ACS-USDC (1.00% charge tier) from Access Protocol

GP-USDC (1.00% charge tier) from Graphite Protocol

cgntSOL-SOL (0.01% charge tier) from Cogent Crypto

WBTC-USDC (0.05% charge tier) from Wormhole

Migration word for LPs Orca’s customary swimming pools: As famous above, Orca’s customary swimming pools will transition to withdrawal-only standing tomorrow, February twenty third, and a brand new “Migrate” choice is now stay. Learn this migration guide to get all the small print.

  • Full deposits at the moment are stay: full-range deposits enable customers to reflect a regular pool place, whereas nonetheless utilizing Orca’s concentrated liquidity swimming pools. Your place will earn decrease yields in comparison with concentrated positions, however it is not going to should be rebalanced.

Reward incentives for swimming pools migrating to Whirlpools from customary swimming pools: to assist encourage LPs in customary swimming pools to maneuver liquidity to the corresponding Whirlpools as an alternative, Orca is constant a rewards marketing campaign on the next swimming pools:

GMT-USDC (0.30% charge tier) from StepN

  • ORCA rewards: 125 ORCA per week

mSOL-USDC (0.30% charge tier) from Marinade

  • ORCA rewards: 250 ORCA per week

BOP-USDC (1.00% charge tier) from Boring Protocol

  • ORCA rewards: 125 ORCA per week

MNDE-mSOL (0.30% charge tier) from Marinade

stSOL-USDC (0.30% charge tier) from Lido

  • ORCA rewards: 250 ORCA per week

ATLAS-USDC (0.30% charge tier) from Star Atlas

  • ORCA rewards: 250 ORCA per week

POLIS-USDC (0.30% charge tier) from Star Atlas

  • ORCA rewards: 250 ORCA per week

SHDW-USDC (0.30% charge tier) from GenesysGo

  • ORCA rewards: 250 ORCA per week

SAMO-USDC (0.30% charge tier) from Samo

  • ORCA rewards: 250 ORCA per week

AURY-USDC (0.30% charge tier) from Aurory

  • ORCA rewards: 125 ORCA per week

🌊 Deepsea Insights 🌏

When folks make comparisons between on-chain buying and selling platforms, the 2 numbers most frequently (and often solely) cited are quantity and TVL. Whereas these numbers are necessary, in addition they don’t inform the entire story. Not all liquidity and never all trades are created equal. On the finish of the day, what issues most to LPs is charge era, and no platform on Solana generates extra charges for its LPs than Orca. In truth, whereas Orca is already the market chief in buying and selling quantity and TVL, its dominance in charge era is even greater, topping 75% of all buying and selling charges generated on Solana most days (and a few days way more!).

Whereas charges are clearly nice for LPs, greater charge tiers can really be a profit to merchants as effectively. Increased charge tiers can appeal to a lot higher liquidity depth on newer, extra unstable tokens, enabling higher execution for merchants with cheaper price affect, even after accounting for the upper LP charge. That is how Orca wins by far essentially the most commerce quantity by way of Jupiter even when different platforms would possibly provide the identical pair at a decrease charge tier.

Whereas it is sensible for almost all of quantity on a pair like SOL/USDC to undergo the 0.05% charge tier, most different ecosystem tokens are finest served on the 1.00% tier. Tokens with sufficient sustained buying and selling quantity migrate liquidity organically to the 0.30% tier over time as LPs really feel extra snug accepting decrease charges to compete for the next share of quantity. Precisely priced liquidity is a win for everyone as a result of it creates a way more sustainable setting for each LPs and the merchants that depend on them. 🐋


Disclaimer: The content material of this communication is just not monetary recommendation and shouldn’t be relied on by any individuals as monetary recommendation. This communication has not been supplied in consideration of any recipient’s monetary wants. We’ve not performed any monetary evaluation primarily based on the non-public circumstances of any recipients. Earlier than utilizing the protocol, rigorously evaluate all related documentation and take into account dangers together with whole lack of funds.