The way I understand it, Raydium is a fully built product. I’m not sure why we would pursue a lose-lose situation where more Sushi developers need to be commited to building out something with similar or lesser functionality just because we might have less to gain. Having a ready built system we can connect to and immediately start reaping benefits from doesn’t seem like a bad idea to me.
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Not really. I don’t think Solana is EVM compatible, while many of the other L1/L2s I listed are. If a chain is EVM compatible, it means we can just copy and paste the contract and it’ll work. For example, one of the main advantages of BSC is that you can just straight up copy and paste Uniswap and it’ll still work (after changing the name to pancakeswap, of course). Similarly, you can just copy and paste the code and deploy it onto Avalanche or Matic too and it’ll work. My point is that integrating would not be as easy as integrating on other competing L1s.
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I think copy/paste will not give you Raydium’s function-wise supplement. And, because Solana is not EVM compatible at this stage, I think this might have add-on value. We all know some chains are just a sidechain or even stealing from Ethereum. In the real decentralized world, solana should not be ignored.
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I agree with the expansion on solana which will help uniswap to reach more multi-chain. This cannot be just considered the matter of mutual interest, but we are on the verge of developing a cross-platform blockchain. Multi-chain expansion allows for increased liquidity and cash flow.
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Can you please add the chart with the RAY release schedule to your transparency page?
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Of course. Will have that up soon
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Fees on sushi just killing me now. For me it’s looking that we both profitate.
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This would be so awesome… Sushi could overthrown uniswap with this pathership from it’s throne . GOGOGO
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I’d hope the goal would be to have a frictionless experience, with users selecting their L1 of choice. It’s not about competing or choosing the L1 winner, it’s about integrating them all.
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I feel like we are too focused on what I get compared to what you get instead of what WE get
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I believe there are great long term opportunities to leverage both Sushi and Raydium. The Solana ecosystem is gradually gaining momentum. If there is an opportunity to scale on the Solana blockchain (global validator network growing every day (650+), high transaction throughput, super-low fees) why not take it?
I understand this should be done on terms that favour both sides, and I believe that this is achievable, but one should also focus on the bigger picture, and what this joint-venture can do for the ecosystem as a whole.
Full transparency from both sides and let’s do it.
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Brilliant idea, I don’t think all of Sushi’s eggs should be in the ethereum basket and the goal should be for sushi transcend a specific blockchain. If we get all the transaction fee / speed benefits of Solana, de-risk by not being handcuffed to Ethereum (who’s being outpaced by teams like NEAR and Solana imo), and leveraging the Raydium devs means it can happen with minimum effort, it’s a no-brainer!
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Hey guys I just wanted to post a reminder here that this proposal will be discussed at the upcoming Sushi Forum(Monday, 9PM UTC) in the Sushiswap discord. Hopefully this will serve as a place to talk about the proposal together and hash out any concerns/points of contention! I believe @handroll or team members will be attending to answer questions and pitch it to the community as well.
Will definitely be there tonight!
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There have definitely been a lot of good points laid out on both sides, I hope I’m not too late to the party to voice my opinion. As Fiskantes pointed out, there are definitely a number of tangible risks Sushiswap takes on by getting into bed with Raydium. The exchange models differ on a lot of points and while I won’t pretend to be intimately familiar with how Raydium’s CLOB will affect the SUSHI LP’s using a K= XY AMM model, it is apparent that SUSHI LP’s could be negatively impacted, especially as a portion of liquidity migrates from Ethereum into SRM/SOL.
I’m not sure I fully understand the downsides here outside of reputation risk and 4d chess strategy. Sushiswap is already seen as having a somewhat whale heavy userbase that favors larger pools for reduced slippage over cheaper/faster transaction fees. From my perspective, the larger DeFi users can and will continue to use Sushiswap on ETH for this reason, while smaller DeFi users will naturally flock to Raydium where they can take advantage of the cheaper costs. Sushiswap users on ETH will have the benefit of lower slippage and greater ROI from Maker/Taker fees and while Sushiswap users on Bonsai will be able to move their funds quickly and cheaply, while both can benefit from the TAM and prospective total volume increase.
Apologies if I’ve misinterpreted exactly how this would play out, but it seems like many of us have trouble remembering how daunting these ETH transactions fees can be. Every day that passes is one day fewer for our newer/small community members to take advantage of everything that Sushiswap has to offer and many of them have been priced out completely due to gas costs. We are being presented a unique opportunity to onboard and sponsor a completely new wave of Sushiswap community members here and we can ALL grow together. If Raydium is able to build and ship their bridge as quickly as they say, it will afford those smaller users the chance to begin enjoying the benefits of DeFi sooner than what is publicly planned by any L2 and potentially change a lot of lives for the better.
Call me a sucker, but I think that is well worth the aforementioned risks.
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If Raydium is able to build and ship their bridge as quickly as they say, it will afford those smaller users the chance to begin enjoying the benefits of DeFi sooner than what is publicly planned by any L2 and potentially change a lot of lives for the better.
I think this is key here, seeing is believing. So far the UI on Raydium is rather lackluster, but then again, they’ve only launched recently. Is there any oversight on if they have enough capable devs for both the bridge and any front-end features and/or fixes? If so, perhaps that could help with the proposal as well.
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After listening to the AMA yesterday with AlphaRay and SBF I am convinced that this is a worthy endeavor for Sushiswap. I’ve been using the Raydium swap and farm for a few days now and they’ve built a good project. The fees for transacting on the Solana chain are unbelievably low. It’s pretty crazy.
The Solana chain is growing quickly with a number of interesting projects on the horizon. I think it is advantageous to have Sushiswap established in that ecosystem as early as possible.
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The bridge is already functioning on Sollet and was built by the sollet team. It is Metamask connected and super convenient to use by just pressing the deposit button. The fee is also just gas fee for moving ETH and a little SOL for gas on the Solana side:
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Avalanche is having double-spend issues that the CEO decided to hide (Deleted entries from one on-chain scanner, and forgetting about the second scanner).