Swaps are working across every market. Much to come in our roadmap.
We start small, make sure it works, then grow. Iterate until it works, then iterate until it's right.
The Solana Meme Exchange
currently heads down, fixing issues and ensuring the platform is set for the long term.
we see a bright future & a brilliant product.
just give us time!
sme
Where we're at, 10 hours in.
We built something structurally harder than a normal launchpad and we're finding out where the edges are in public.
Swaps should currently work on tokens. If still having issues, there was a bug impacting a specific router and you may have to go to recover on our site. Still fleshing this system out, so if you can't now you will be able too soon.
Most launchpads quote tokens in SOL. One hop, and the curve that takes your money is the same one that pays you back. Ours quotes tokens in commodity coins, eggs, diesel, bacon, which is the whole point, but it means a second hop: your token pays out in BEEF, and BEEF has to become dollars somewhere. That second venue is ours to fund, and a bug misrouted backing across accounts.
What that looked like for you: small trades were fine all day, larger ones quoted badly or not at all. That's fixed. Every market with holders now sells at full position size.
We also found an accounting bug that misrouted backing between our own accounts. No user funds were taken and every trade executed at a fair price, but it left some markets thinner than they should have been. We're reconciling it fully .
This is harder than a SOL-quoted launchpad. That's the tradeoff we took to make commodity-denominated markets work at all. We'd rather tell you what's happening than pretend the first day was clean.
Building in public. Rome wasn't built in a day and we'll continue working day and night to make this the best it can be.
Commodity markets on SME work by minting at the oracle price and selling back near it.
A keeper bug has been misattributing our own market-making inventory as sales, which moved working capital into the redemption vaults where it wasn't meant to sit.
It's meant bid depth was thinner than it should have been on several markets. Fixing it now and adding checks so it can't happen again. If you're holding a hub coin and can't sell, fix will come soon.
I see the technical issues, currently working on them as we speak. Platform is new and novel so there are and will be growing pains.
We have a beautiful narrative here & a chance at a longstanding product on the solana blockchain.
Bear with us while we build a masterpiece
sme mode.
57 Followers 239 FollowingTYW is a community coin launched within the $ALL ecosystem on Sol. One ecosystem,many coins — connected and working together to make the whole network stronger.
57 Followers 392 FollowingWeb3 Native | AI Enthusiast | Market Analyst
Dev of $OPEN - Bridging the world to China's history, culture, and future. Join the movement on https://t.co/KjG0rbXBSp
613 Followers 1K FollowingJust a visitor from another galaxy. Studying humans. Staying for the coffee... and the chaos. 🛸 Earth’s weird, but I kinda like it.