GooseFX - May Update (2024)

GooseFX marks a milestone with over $695 million in volume and $686k+ in fees. Discover our latest developments, audit report and educational initiatives driving Solana's DeFi ecosystem forward.

GooseFX - May Update (2024)

Table of Content

$695,000,000+ in Volume with over $686,000+ generated in fees, GooseFX SSL keeps soaring sky high every month. Over 24M $GOFX staked by 871+ stakers on GooseFX, earning USDC in real yield!

GooseFX Development Updates


Enhancing Algo Performance

  • As Solana network congestion affected our SSL pools which lead to reduced trading volumes. We are implementing Pyth's new pull model as it helps us to access the latest oracle price and improving quote availability.
  • As we pushed multiple updates to our core Algo this month. We have sent the upgraded program version to DEX Aggregators like Jupiter for seamless integration.
  • Even with our update algos and params we are still continuing upgrades in the SSL algorithm. With the end goal of adding more tokens in SSL.

Improvements and Optimizations

  • Single Sided Liquidity Pools (SSL)
    • Conducting extensive backtesting to refine parameters and optimize SSL performance.
    • Collaborating with AssetDash to provide single-sided liquidity pool data.
    • Introducing a Swap widget on the Farm page for seamless asset swapping.
  • Perps DEX
    • Revamping mobile UI screens to deliver an optimal trading experience on mobile.
    • Onboarding new Market Makers to enhance liquidity and trading efficiency.

Progress and Future Roadmap

  • Volume Recovery: Implementation of internal and external improvements should result in increased daily transaction volume and yield generation.
  • Upcoming Deployments: Deployment of Pyth's new pull model on mainnet for improved latency, followed by testing and deployment of the new algorithm.
    • Phase 2 Focus: Aim to achieve daily volumes exceeding $5M+ by optimizing quote availability and reducing latency.
    • Phase 3 Initiatives: Exploring scalability enhancements and adding support for new tokens to further expand the platform's capabilities.
  • Stability and Scalability: Focus on ensuring platform stability for the next 30 days before shifting the focus to scalability and achieving 8-figure daily volumes.

Stay tuned for more exciting developments as we strive to push the boundaries of DeFi together!

GooseFX Audit Report: Ensuring Security & Resilience

At GooseFX, security is paramount. That's why we engaged in an extensive audit with OtterSec to guarantee the safety of our SSL pools.

GooseFX x Ottersec

Here's a breakdown of the key findings and actions taken:

Critical Issue Resolution

  • Ottersec identified a critical issue with Oracle Validation (OS-GFX-ADV-00) that posed a risk of fund loss due to incorrect validations.
  • Status: Resolved! Our team addressed this issue to ensure the integrity of our platform.

Addressing Medium-Risk Vulnerabilities

  • Swift action was taken to address medium-risk vulnerabilities such as Missing Asset Type Validation (OS-GFX-ADV-03) and Price Throttling Errors (OS-GFX-ADV-06).

Patching Lower Severity Issues

  • Lower severity vulnerabilities, including Denial of Service (OS-GFX-ADV-08) and Unverified Signers (OS-GFX-ADV-09), have been patched to enhance overall platform security.

Exceptional Audit Result

  • We're thrilled to report that the result of the audit was exceptional!
  • With vulnerabilities resolved and improvements implemented, we're confident in the security and resilience of GooseFX.

Dive into the Detailed Audit Report

At GooseFX, transparency and accountability are core values. We're committed to ensuring the safety and trust of our GooseGang community through rigorous security measures!

Educational Threads

At GooseFX, we believe in empowering our community with knowledge. Here are some educational threads we've recently shared

Blogs of the month

  • Uncover the power of crypto's unsung heroes—Oracles! Understand how oracles bridge blockchain with the real world for smooth transactions and live price feeds.
What are Oracles in crypto?
Uncover the power of crypto’s unsung heroes—Oracles! Understand how oracles bridge blockchain with the real world for smooth transactions and live price feeds.
  • Learn what RPCs are, how they power your favorite dApps and the top RPC providers on Solana with GooseFX!
Solana RPCs - What are they?
Learn what RPCs are, how they power your favorite dApps and the top RPC providers on Solana with GooseFX!

Wrapping Up

As we conclude this month's updates, GooseFX extends its gratitude to our dedicated GooseGang members for their unwavering support. Let's recap the highlights

  • With over $695,000,000 in trading volume and $686,000+ generated in fees by GooseFX SSL pools.
  • Over 24M $GOFX staked by 871+ stakers, earning USDC in real yield.

Development Updates

  • Our commitment to enhancing Algo performance is evident as we address Solana network congestion and push multiple updates to our core algorithm, aiming to optimize SSL performance and expand token support.
  • Improvements and optimizations across Single Sided Liquidity Pools (SSL) and Perps DEX, coupled with our focus on volume recovery and future roadmap initiatives.

Security and Resilience

  • We take pride in ensuring the safety of our platform through rigorous security measures, as evidenced by our recent audit with OtterSec. Critical issues have been resolved, and vulnerabilities addressed.

As we look ahead, GooseFX remains dedicated to pushing the boundaries of DeFi innovation!

Stay Tuned with #GooseGang

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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.