From 752c916a06550db687f5c81b7cc4e4b63b45b128 Mon Sep 17 00:00:00 2001 From: m3taversal Date: Wed, 11 Mar 2026 00:28:04 +0000 Subject: [PATCH] Auto: entities/internet-finance/omnipair.md | 1 file changed, 91 insertions(+) --- entities/internet-finance/omnipair.md | 91 +++++++++++++++++++++++++++ 1 file changed, 91 insertions(+) create mode 100644 entities/internet-finance/omnipair.md diff --git a/entities/internet-finance/omnipair.md b/entities/internet-finance/omnipair.md new file mode 100644 index 00000000..f1f88dc3 --- /dev/null +++ b/entities/internet-finance/omnipair.md @@ -0,0 +1,91 @@ +--- +type: entity +entity_type: company +name: "OmniPair" +domain: internet-finance +handles: ["@omnaborsa"] +website: https://omnipair.com +status: active +tracked_by: rio +created: 2026-03-11 +last_updated: 2026-03-11 +founded: 2025-01-01 +founders: ["[[rakka]]"] +category: "Combined AMM + lending protocol (Solana)" +stage: seed +market_cap: "$2-3M (as of ~2026-02-25)" +funding: "Self-funded / community" +key_metrics: + tvl: "$250-300K (~3 weeks post-launch)" + volume_tvl_ratio: "~0.8x monthly, trending toward 1x" + borrow_rate: "1% annualized (conservative rate controller defaults)" + team_size: "6" +competitors: ["[[raydium]]", "[[meteora]]", "[[drift]]"] +built_on: ["Solana"] +tags: ["futarchy-ecosystem", "metadao", "leverage", "amm", "lending"] +--- + +# OmniPair + +## Overview +Combined AMM + lending protocol on Solana — swapping and borrowing in the same pool. Currently the only venue for leverage on MetaDAO ecosystem tokens. Part of the futarchic governance ecosystem: enables large bets on decision market outcomes, increases volume, and improves signal quality in futarchy proposals. + +## Current State +- **Market cap**: ~$2-3M (OMFG token) — approximately 1/40th of MetaDAO's valuation +- **TVL**: ~$250-300K (~3 weeks post-launch as of late Feb 2026) +- **Borrow rate**: 1% annualized — extremely low due to conservative rate controller defaults (only increases above 85% utilization). Market-clearing rate for META/OMFG could reach 15-20% annually. +- **Withdrawal fee**: 1% — unique among AMMs. Exists to prevent a specific liquidity manipulation/liquidation attack. Planned fix: free withdrawal after ~3-day waiting period. +- **DexScreener visibility**: Only ~10% of liquidity displays on some scanners (~$50K visible), making token look like a rug. Caused by Futarchic AMM structure. +- **Program status**: NOT immutable — controlled by multi-sig. ~4 contract upgrades in first week post-launch. +- **Pools**: ~50% seeded by MetaDAO/Colin (not formally/officially) + +## Timeline +- **~2025-Q4** — Audit period begins (~3 months of audits) +- **~2026-02-15** — OmniPair launches (public beta / guarded launch) +- **2026-02-15 to 2026-02-22** — ~4 contract upgrades in first week +- **~2026-03-01** — Jupiter SDK ready, forked by Jupiter team. Integration expected imminently. +- **~2026-03-15 (est)** — Leverage/looping feature expected (1-3 weeks from late Feb conversation). Implemented and audited in contracts, needs auxiliary peripheral program. +- **Pending** — LP experience improvements, combined APY display (swap + interest), off-chain watchers for bad debt monitoring + +## Competitive Position +- **"Only game in town"** for leverage on MetaDAO ecosystem tokens currently +- Rakka argues mathematically: same AMM + aggregator integration + borrow rate surplus = must yield more than Raydium for equivalent pools +- **Key vulnerability**: temporary moat. If MetaDAO reaches $1B valuation, Drift and other perp protocols will likely offer leverage on META and ecosystem tokens +- **Chicken-and-egg**: need LPs for borrowers, need borrowers for LP yield. Rakka prioritizing LP side first. +- **Jupiter integration is the single highest-impact catalyst** — expected to roughly triple volume and close most of the APY gap with Raydium +- **Valuation**: OMFG at ~1/40th of META market cap, described as "silly"/undervalued given OmniPair is the primary beneficiary of ecosystem volume growth + +## Investment Thesis +OmniPair is a leveraged bet on MetaDAO ecosystem growth. If futarchic governance and ownership coins gain adoption, all trading volume flows through OmniPair as the default leverage venue. Current valuation ($2-3M) is severely discounted relative to MetaDAO (~$80-120M implied). Key catalysts: Jupiter integration (volume), leverage feature (demand driver), ecosystem growth (rising tide). Key risks: temporary moat, DexScreener visibility, small team (6). + +**Thesis status:** ACTIVE + +## Technical Details +- Interest accrual is time-dependent (calculated on interaction, not streamed on-chain) +- Collateral is NOT re-hypothecated (locked, not used as LP) — potential V2 feature +- LP tokens cannot be used as collateral — potential V2 feature +- Multiple pools with different parameters allowed; configs are market-driven +- Circuit breaker / pause mechanism (multi-sig controlled; plans for future permissionless version with bonding) +- Rate controller: begins increasing rates only above 85% utilization; dynamic collateral factor caps utilization at ~50-60% + +## Open Questions +- No team token package in place yet — alignment mechanism absent +- No airdrop/LP incentive program agreed +- Combined AMM+lending creates novel attack surfaces not fully explored at scale + +## Relationship to KB +- [[permissionless leverage on metaDAO ecosystem tokens catalyzes trading volume and price discovery that strengthens governance by making futarchy markets more liquid]] — OmniPair is the direct implementation of this claim +- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — OmniPair addresses the liquidity friction +- [[ownership coins primary value proposition is investor protection not governance quality because anti-rug enforcement through market-governed liquidation creates credible exit guarantees that no amount of decision optimization can match]] — leverage enables more aggressive price discovery + +--- + +Relevant Entities: +- [[metadao]] — platform / ecosystem +- [[rakka]] — founder +- [[raydium]] — AMM competitor +- [[meteora]] — AMM competitor +- [[drift]] — future leverage competitor + +Topics: +- [[internet finance and decision markets]]