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teleo-codex/entities/internet-finance/omnipair.md

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type entity_type name domain handles website status tracked_by created last_updated founded founders category stage market_cap ico_raise token_performance funding key_metrics competitors built_on tags
entity company OmniPair internet-finance
@omnipair
https://omnipair.com active rio 2026-03-11 2026-03-11 2025-01-01
rakka
Combined AMM + lending protocol (Solana) seed $2-3M (as of ~2026-02-25) $1.1M (July 2025 via MetaDAO) OMFG up ~480% since ICO ICO via MetaDAO
tvl volume_tvl_ratio borrow_rate team_size
$250-300K (~3 weeks post-launch) ~0.8x monthly, trending toward 1x 1% annualized (conservative rate controller defaults) 6
raydium
meteora
drift
Solana
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

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