JupiterSolana_Army's Profile

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Bullish

$JUP Recently, there have been many issues that we are facing with our perpetual product. - Solana Network Congestion Due to the network congestion, traders are having a hard time submitting their positions. Most positions are very time sensitive as well, for example, adding collateral when an existing position is near liquidation. It can lead to very unpleasant experiences. We have since added a few ways to mitigate this situation: * Adding priority fee to help land transactions better * A lot of infrastructure work in the backend to help broadcast the transactions better * Soon, adding Jito Bundle as a way to submit transactions But, as you may have experienced recently, the Solana network has been getting worse in the last week or so. We are actively working on this area to see what we can do to keep improving transaction landing rates. Also, we increased the minimum position size to at least $10 in order to reduce spam on the product. - Price Oracles Not Functioning With the network congestion, our price oracle provider is having hard times landing transactions on chain as well. Because of this, we sometimes see price updates that are 5-10 minutes behind. Prices that are 5-10 minutes behind cannot be used to open positions. The product requires the price updates to be at most 3s behind. To tackle this problem, we added backup oracles to the product. We are spending 10-20 SOL (likely to spend more) per day to make sure that these backup oracles are up to date. But there is also a high latency on these oracles for it to be useful for our product. For example, to set TP and SL, these backup oracles are useless since these actions require very tight price update latency. Btw, the tight price update latency is there to prevent traders from frontrunning the market and causing losses to the JLP pool. Our UI also depends on the on chain oracle data as well, when the oracles are not working, you may see frozen UI. We are currently working on decoupling this dependency on the UI. ENTRY NOW 🚀🚀🚀💚💚💚

$JUP Recently, there have been many issues that we are facing with our perpetual product.

- Solana Network Congestion
Due to the network congestion, traders are having a hard time submitting their positions. Most positions are very time sensitive as well, for example, adding collateral when an existing position is near liquidation. It can lead to very unpleasant experiences.

We have since added a few ways to mitigate this situation:
* Adding priority fee to help land transactions better
* A lot of infrastructure work in the backend to help broadcast the transactions better
* Soon, adding Jito Bundle as a way to submit transactions

But, as you may have experienced recently, the Solana network has been getting worse in the last week or so. We are actively working on this area to see what we can do to keep improving transaction landing rates.

Also, we increased the minimum position size to at least $10 in order to reduce spam on the product.

- Price Oracles Not Functioning
With the network congestion, our price oracle provider is having hard times landing transactions on chain as well. Because of this, we sometimes see price updates that are 5-10 minutes behind. Prices that are 5-10 minutes behind cannot be used to open positions. The product requires the price updates to be at most 3s behind.

To tackle this problem, we added backup oracles to the product. We are spending 10-20 SOL (likely to spend more) per day to make sure that these backup oracles are up to date. But there is also a high latency on these oracles for it to be useful for our product. For example, to set TP and SL, these backup oracles are useless since these actions require very tight price update latency.

Btw, the tight price update latency is there to prevent traders from frontrunning the market and causing losses to the JLP pool.

Our UI also depends on the on chain oracle data as well, when the oracles are not working, you may see frozen UI. We are currently working on decoupling this dependency on the UI.

ENTRY NOW 🚀🚀🚀💚💚💚

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