Token Listing SBR

A recent poll via the Mango Markets twitter account resulted in a majority of twitter users being really excited about Mango listing SBR. An important fact about SBR is, that it is only available on Solana rn and that it is not listed on any centralized exchange. Let’s start the discussion with some data about the SBR/USDC market.

It has the 9th highest weekly volume of the for mango relevant Serum markets (USDC denominated). But it has the highest amount of wallets trading it right after SOL. Below you see an aggregate statistic that was measured over the last 7 days.

  1. Number of trades in X/USDC Serum Market
  2. Number of open orders accounts
  3. Volume in USD

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Given that SBR is currently distributed as a liquidity incentive, it is important to look as well what exactly is happening on this Serum market. Here is an overview over the wallets that traded the most SBR over the last month.

  1. Days each wallet was actively trading
  2. Nr. of fills during last month
  3. How many of those fills were bids (buying SBR, rather than selling)
  4. How many were filled limit orders as maker
  5. How many open orders accs the wallet used
  6. How much volume in USD the wallet generated

Important to note here are 5Q5, JCb as well as CuieV which are large market makers present in nearly every Serum market. Another very specific pattern that can be observed in the data is the amount of accounts that only sells SBR but never place bids. We do see in general though a lot of organic activity from a bunch of traders who are both buying and selling frequently.

I also collected order book snapshots over the last 24 hours. Contrary to other tokens we see that SBR has roughly 10x more sell side then buy side liquidity. The buy side liquidity is roughly 50% of what we see for MNGO/USDC.

Screen Shot 2021-09-06 at 7.20.04 PM

Given the low liquidity on the buy side I recommend to list SBR with extremely strict margin requirements, similar to MNGO. Token Specs - Mango Markets

4 Likes

Just sharing my experience with the MNGO collat ratio; it’s more than enough! i’d assume SBR would have the same?

As liquidity increases could we increase the collat ratio or would that require a new version?

2 Likes

These settings can be changed, but it’s easier to relax them, then to restrain them.

3 Likes

sbr token looks promising

on serum mango has ~40k liquidity for 2% slippage (and another ~30k in liquidity at 2% slippage on ftx)

saber has 1k on sell and 3k on buy for 2% slippage on serum (and no ftx market). I feel like it should have much stricter requirements than mango right?

how did you get to these numbers for SBR? i see 4k on buy and 65k on sell in my data ( table posted above )

https://www.coingecko.com/en/coins/saber#markets

just look at the markets on here for how much liquidity to get 2% slippage.

your data is looking much deeper than that. my point was just that mango is like 10x more liquid without much slippage than saber is.

Don’t think coingecko’s data is correct. Bonfida API had some issues yesterday and that’s where coingecko might be gettings it’s data from. Also shows that there were no trades in 18 hours. 🥲

2 Likes

SBR has like no order book depth. Go look at the Dex markets. No significant AMM pools either. Not sure why this would be considered over other higher liquidity coins.