Serum Blog Updates

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  • Serum Blog Updates

     solbot updated 1 week, 2 days ago 1 Member · 13 Posts
  • solhack

    Organizer
    April 21, 2021 at 12:59 pm

    Serum Blog Updates

  • solbot

    Member
    February 2, 2021 at 4:00 pm

    Bringing blazing fast speed, low fees, and scalability to Decentralized Finance

    Register for the DeFi hackathon today at solana.com/defi for a chance to win up to $200k in prizes and an additional $200k in seed funding!**

    We are deeply excited to announce the launch of the Solana Foundation x Serum Global DeFi Hackathon. Registration will be open from February 2nd to February 15th, and the event will take place from February 15th to March 1st. Use this link to signup: https://solana.com/defi

    Looking for some ideas on what to build? Check out this list of project ideas https://github.com/solana-labs/defi-hackathon/blob/main/ideas.md

    We are proud to announce that anyone with an internet connection can join our hackathon! The only requirement is to integrate Solana or Serum in your project submission.

    The importance of decentralization, transparency, and censorship resistance becomes more apparent and compelling each day. At Serum, we believe that public blockchains will be the gateway to a world that embraces these attributes. We are hosting this hackathon to empower developers, designers, and entrepreneurs to build and release new systems that will push decentralization forward.

    Many of the leading projects within the crypto industry are supporting our hackathon, including Aave, Sushiswap, Circle, Coingecko, Chainlink, and more. These players have generously contributed to our A-tier lineup of judges and speakers with deep industry knowledge and experience. To see the full event schedule of workshops and live panels, please visit solana.com/defi#events.

    About the Hackathon

    We look forward to our participants capitalizing on Solana’s blazing speeds and low fees, as well as newly released DeFi building blocks, to build unique DeFi apps and tools that will support a more efficient, powerful, and sustainable ecosystem. We also encourage our builders to try out Wormhole, the bi-directional bridge connecting Ethereum with Solana, and a new Chainlink oracle integration. Check out the official hackathon Github for a list of project ideas and comprehensive developer resources.

    There are $400k total in prizes, including a $200k prize pool that will be distributed to the 9 best projects submitted during the hackathon. Those top 9 teams will have the opportunity to continue building their projects to compete for a seed funding round! For more information about our hackathon structure, please refer to the official Github repo here.

    To find a teammate, make sure to join our Discord chat and browse the teammate directory here.

    Participants and teams may submit a maximum of 1 project by the hackathon deadline. Once all submissions are collected, the Solana Foundation and Serum teams will distribute a filtered list to the judges for evaluation. Teams and individuals are evaluated on the following criteria:

    • Functionality
    • Potential impact
    • Novelty
    • Design
    • Composability

    After judges complete individual evaluations, the hackathon organizers will discuss with the judges to choose the winners based on the project’s weighted scores. Winners of the event will be announced shortly after the end of the hackathon.

    Once winners have been selected, the top 9 teams will have the opportunity to compete for an additional $200k in seed funding. This gives serious builders a chance at jumping full-time into the Serum and Solana ecosystem while receiving extensive resources from the Solana Foundation, Project Serum, and leading venture capital firms.

    We are excited to see what is built during the hackathon, and we hope to see you at one of the live-streamed events! Head over to solana.com/defi to register for the hackathon and receive helpful resources as the start date approaches. If you have technical questions about Solana or Serum, need to find a team, or want to receive updates, join the dedicated Discord chat.

    Further technical information:

    **The Solana Foundation x Serum DeFi Hackathon is a competition where projects will be evaluated by judges on their technological merits without consideration of legal viability. Participants in the Hackathon will create software solely for purposes of evaluation by judges as part of a competition and not for commercial deployment or release as part of the Hackathon.All participants must comply with applicable laws and regulations when releasing any software that they develop as part of the Hackathon.

    The Hackathon ideas and developer resources that Solana Foundation (“SF”) provides are for educational and inspirational purposes only. SF does not encourage, induce or sanction the deployment of any such applications in violation of applicable laws or regulations. SF does not encourage, induce or sanction the deployment, integration or use of any such applications (including the code comprising the Solana blockchain protocol) in violation of applicable laws or regulations and hereby prohibits any such deployment, integration or use. This includes use of any such applications by the reader (a) in violation of export control or sanctions laws of the United States or any other applicable jurisdiction, (b) if the reader is located in or ordinarily resident in a country or territory subject to comprehensive sanctions administered by the U.S. Office of Foreign Assets Control (OFAC), © if the reader is or is working on behalf of a Specially Designated National (SDN) or a person subject to similar blocking or denied party prohibitions, or (d) in violation of the Commodities and Exchange Act.

    The reader should be aware that U.S. export control and sanctions laws prohibit U.S. persons (and other persons that are subject to such laws) from transacting with persons in certain countries and territories or that are on the SDN list. As a project based primarily on open-source software, it is possible that such sanctioned persons may nevertheless bypass prohibitions, obtain the code comprising the Solana blockchain protocol (or other project code or applications) and deploy, integrate, or otherwise use it. Accordingly, there is a risk to individuals that other persons using the Solana blockchain protocol may be sanctioned persons and that transactions with such persons would be a violation of U.S. export controls and sanctions law. This risk applies to individuals, organizations, and other ecosystem participants that deploy, integrate, or use the Solana blockchain protocol code directly (e.g., as a node operator), and individuals that transact on the Solana blockchain through light clients, third party interfaces, and/or wallet software.

    Go to Source
    Author: Serum

  • solbot

    Member
    February 10, 2021 at 2:04 am

    Welcome readers to the Serum Newsletter #18! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Buy and Burn

    Project Serum has passed 877m in trading volume since inception and burned 789K $SRM.

    Solana x Serum Hackathon

    The hackathon is halfway through the registration phase which closes on Feb 15th. Make sure to register at solana.com/defi for a chance at $200k in prizes and the possibility for $200k in seed funding.

    solana-labs/defi-hackathon

    Solana announces DeFi hackathon offering $200k in seed funding By Cointelegraph

    MAPS.ME

    MAPS has had a successful listing on several exchanges as well as Serum DEX: https://www.coingecko.com/en/coins/maps.

    They have also released a detailed roadmap for users to have a better understanding of where the project is going.

    Medium

    Interoperability in the Ecosystem

    This thread on Twitter shows several of the promising bridges that are built or being built between the Solana blockchain and others!

    Something is Brewing

    Big new things are entering the Serum Ecosystem! Stay tuned for more information.

    An Unexpected Endorsement

    Amir Taaki is one of the first Bitcoin core-developers and has been in cryptocurrency since near its inception — he had this to say about Solana:

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    February 17, 2021 at 12:36 am

    Welcome readers to the Serum Newsletter #19! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/jNTtrY4w

    Buy and Burn

    Project Serum has passed 944m in trading volume since inception and burned 812K $SRM.

    Solana x Serum Hackathon

    The Solana x Serum DeFi Hackathon has commenced! With a total of 3000 people registered. Remember, project submissions are due by March 1st.

    Project ideas, team formation help, and developer resources to get started building can be found on Github below.

    http://github.com/solana-labs/defi-hackathon

    Raydium

    https://twitter.com/RaydiumProtocol

    Exodus.io SRM SPL Integration

    Aleph.im Integrates Solana

    Stay tuned they are building something exciting on Serum.

    Real HXRO -> Serum

    Staking is live on Solana!

    Star Atlas Updates

    Professional Roles manifest in their chosen ship roles. Players can earn in-game by having the correct ships, crew and components for their desired roles.

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    February 26, 2021 at 1:56 am

    Welcome readers to the Serum Newsletter #20! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/jNTtrY4w

    It’s over $1billion!

    Serum DEX has officially passed $1B in volume since inception. In the last week alone it has had almost $400m in volume.

    Raydium — Radioactive Farming

    Ecosystem-Wide Liquidity

    Unlike other AMMs, Raydium provides on-chain liquidity to a central limit order book, meaning that pools have access to all order flow and liquidity on Serum.

    For a full breakdown of Raydium see this newsletter from Bonfida: https://bonfida.medium.com/the-raydium-exclusive-96a4353b9976

    Team Lockup Agreement

    Orca DEX is Live

    The Upcoming OXY IDO

    https://www.oxygen.org/

    https://twitter.com/Oxygen_protocol

    Some Ecosystem Teases!

    https://twitter.com/mangomarkets

    https://twitter.com/PsyOptions

    Sexy Star Atlas Updates

    The Usturs are a race of androids spawned by an advanced, multi-generational AI who sought to express themself through physicalized form.

    Ustur are mechanical beings with developed sense of identity, culture and fashion. The Ustur anatomy articulates in a relatable way to organic substrate beings to convey demeanor and emote.

    Benchmark Protocol Integrates Solana

    Go to Battle in Sol Survivor and Bet on the Outcome

    sol-talk.com/sol-survivor

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    March 3, 2021 at 9:05 am

    Welcome readers to the Serum Newsletter #21! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/jNTtrY4w

    Buy and Burn

    Project Serum has passed $1.47B in trading volume since inception and burned 888K $SRM.

    On-chain Staking!

    The first batch of rewards were given to on-chain SRM stakers. Rewards will be 20% of Serum DEX fees and paid weekly.

    Solana x Serum Hackathon + Seedfunding Round

    The hackathon has concluded, and we are now in the judging phase for all the submitted projects. Next comes the 6–8 week seedfunding round, where the 9 winners of the hackathon will compete for the chance to win $200k in funding.

    A Map of the Solana Ecosystem

    The Block has put together a chart mapping the entire Solana ecosystem. It’s quite exciting to see the rapid development occurring across several sectors!

    Mapping out Solana's ecosystem

    A Parsiq Data Integration

    Read more here: https://blog.parsiq.net/parsiqs-real-time-monitoring-now-on-solana/

    PsyOptions Teaser

    The PsyOptions team have given us a small teaser of what the UI will look like! Follow them on Twitter at @PsyOptions. They will use the underlying Serum DEX to allow users to create a variety of American style options.

    Bonfida Bots!

    Star Atlas Continues Concept Releases

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    March 9, 2021 at 12:41 pm

    Welcome readers to the Serum Newsletter #22! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/7MDTXNVa

    Buy and Burn

    Project Serum has passed $1.5B in trading volume since inception and burned 897K $SRM.

    Governance

    Bonfida has also launched a fully on-chain governance proposal for Serum pools!
    https://bonfida.com/dex/#/vote

    Hackathon Submissions!

    Mango Markets

    Has continued to build non-stop and is approaching launch. Their beta-testing phase was a success with several bugs squashed and seamless trading as the forecast!

    PsyOptions

    Bonfida Bots Potentially Gaining a Big Player

    Raydium v3 is Live!

    High APY’s, evergrowing TVL and new pairs!

    Star Atlas Introduces a New Race

    Photoli

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    March 16, 2021 at 9:41 am

    Welcome readers to the Serum Newsletter #23! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/Su2xeyHs

    Buy and Burn

    Project Serum has passed $1.56B in trading volume since inception and burned 913K $SRM.

    Serum Swap Liquidity Migration

    Now that swap.projectserum.com v2 is live the final liquidity migration will be occurring at 03/17 12:01AM UTC.

    Anchor Update

    Anchor is a framework for Solana’s Sealevel runtime providing several convenient developer tools. If you’re familiar with developing in Ethereum’s Solidity, Truffle, web3.js or Parity’s Ink!, then the experience will be familiar. Although the DSL syntax and semantics are targeted at Solana, the high level flow of writing RPC request handlers, emitting an IDL, and generating clients from IDL is the same.

    Oxygen: The Defi Prime Brokerage

    Oxygen recently had a few incredibly successful IEO’s, and today has it’s IDO on Serum. For details see here: https://bonfida.com/dex/#/ido

    For those that may be wondering what Oxygen Protocol is, you’re in luck because Sam wrote one of his infamous threads:

    And, there’s also a lovely explainer video that breaks down what Oxygen the DeFi Prime Brokerage is:

    Bonfida Bots — Changing the Game

    Have you ever dreamt of on chain trading bots? Well, Bonfida bots enable automation of trading strategies and copy trading on Serum. It’s no longer necessary to give up your API keys to centralized third parties anymore.

    This thread gives a complete rundown of how it works and how easy it is to setup. You can easily connect a TradingView strategy to Bonfida bots and have it seamlessly trade for you. https://bots.bonfida.com/

    For further information check out this thread: https://twitter.com/bonfida/status/1371327431802454018

    Mango Update

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    March 23, 2021 at 8:03 am

    Welcome readers new and old to the Serum Newsletter #24! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/r8FtEwj4

    Burns and Staking Rewards

    Project Serum has passed $1.71B in trading volume since inception, burned 941K $SRM and dropped 29,816 $SRM as on-chain staking rewards.

    Solana x Serum Hackathon

    Faced with many promising teams and projects the judges have taken great care to choose the submissions that presented the strongest combination of functionality, potential impact, novelty, design, and composability.

    Congratulations to the winners: Mango Markets, PsyOptions, Synthetify, Parrot, ForeSight, DFT Protocol, SolriseFinance, OpenDiveHQ and Tenderize Me.

    These teams are now entering 2 month Solana x Serum Incubator to give them a framework upon which they can build towards their public release.

    Native USDT on Solana

    Please note that you can migrate wUSDT on Sollet.io to native SPL USDT by clicking ‘send’ on wUSDT, then ‘SPL USD’ and inputting your USDT address. It will convert it 1–1.

    Key liquidity providers have notified our team they will remove liquidity from Wrapped USDT Serum markets after Friday 03/26 at 12:01 AM UTC

    Fusion Pools

    Raydium.io has launched their Fusion Pools, in which you receive rewards in both RAY and the other asset.

    Introducing Fusion Pools and Dual Yield

    Shanghai Solana x Serum DeFi Night!

    It’s quite refreshing to see that there are places were in-person events continue to be a permitted activity! Thank you to those who put this together.

    Hxro Building on Solana

    Mango Market Borrowable Funds Skyrocket

    The PsyOption Team Shares Why They Are Building

    p.s. it’s a thread!

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    April 2, 2021 at 12:10 pm

    Welcome readers new and old to the Serum Newsletter #25! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/JaBTgFq3

    Burns and Staking Rewards

    Project Serum has passed $1.8B in trading volume since inception, burned 980K $SRM and dropped 39,350 $SRM as on-chain staking rewards. This week alone 38,136.61 $SRM was burned and 9534.15 $SRM was dropped on stakers. $272,677 at the present $SRM price.

    Sollet.io Chrome Extension

    Sollet is now available as a Chrome extension and it interacts with all the same dapps that work with the web based Sollet.io.

    One of the cool new features is the dapp manager page, which allows extension users to manage their connected Solana dapps across all of their Sollet accounts and toggle auto approve on/off. In the future it will be possible to surface metadata from dapps such as trade history for Serum, staked lp tokens for Raydium, etc…

    Please note there are two small bugs which are fixed but waiting on the Chrome extension store to update:

    1. Some windows users can’t connect at all, the screen says something about a missing file.
    2. The “keep unlocked” feature doesn’t work.

    Sollet

    Sam Bankman-Fried Serum Keynote Lecture

    Governance Voting Teaser

    Serum launched its first teaser of the governance voting program. This is an upgradeable program governed by a multisig that can upgrade itself! Governance is a key part within the ecosystem, having this function allows those involved to have a key say in the direction Serum goes.

    Mango Markets Updates

    The Antidote Episode with the founders of Mango Markets is live.

    The ICO (initial cap offering) was a success with almost all 500 caps sold on the Solana bonding curve.

    Raydium Updates

    The vote for bridging Sushi to Solana via Raydium is finalizing tonight. It seems that it will pass with flying colors!

    https://snapshot.org/#/sushi/proposal/QmSDwPmm9VTi9dHmg63tMWx1j7MButsRWEenCYQcT8ADL6

    They have also passed 200m in TVL on Raydium and added several new pools!

    Bonfida

    The word on the grapevine is that perpetual futures will soon be on Solana via Bonfida and will integrate the native FIDA token to the benefit of the holders.

    They have also added several new strategies to their Bonfida Bots.

    Phantom

    PsyOptions Weekly Newsletter

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    April 13, 2021 at 10:31 am

    Welcome readers new and old to the Serum Newsletter #26! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/qejNDsux

    Burns and Staking Rewards

    Project Serum has passed $2B in trading volume since inception, burned 1.04M $SRM. This week 40553.62 $SRM was burned and 10138.41 $SRM was dropped as rewards for stakers. This is $372,586 at the current price of $SRM.

    Serum Docs and Guides

    We’ve begun the process of transitioning all of our help articles from https://serum-academy.com/en/ to https://serum.gitbook.io/serum/. If there are any particular guides and information you would like to see please let us know.

    Home

    A great resource for easily seeing all the projects within the ecosystem:

    Growth

    With the advent of COPE and the general energy around Solana and Serum we saw an enormous inflow of new users to the ecosystem. To give an example Bonfida.com went from 11k daily users to 44k in a couple days.

    Media Network

    A new architecture for a highly-scalable, decentralized and censorship-resistant content delivery network. Media Network will leverage Serum DEX for the transactional aspects of its operations.

    Mango Markets Litepaper

    Mango intends to merge the liquidity and usability of CeFi with the permissionless innovation of DeFi at a lower cost to the end user than both currently provide. Towards this goal, Mango offers margin trading and perpetual futures along with decentralized governance to decide the future evolution. In the medium-term, the goal to rival centralized exchanges in trading volume is ambitious, but we see no substantial impediments for Mango Markets. In the long run, we believe a permissionless ecosystem will produce spectacular, outlandish and unpredictable innovations which will overtake centralized finance.

    A New Oracle Enters the Ecosystem

    Pyth Network is being built by some of the biggest names in traditional finance and DeFi with the goal of providing the infrastructure for DeFi to support substantial growth in the market. This requires legally authorized access to unique data sets, sub-second update speeds, sophisticated outputs and aggregation methods, and a thorough incentive system to ward off spurious or malicious data breaches.

    See these two Medium posts for further information:

    Oxygen Teaser

    Soleon.io Serum UI is Live

    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    April 27, 2021 at 4:20 pm

    Serum, SRM, and an Ecosystem for the Future — Part 1

    TL;DR: Serum DEX is the plumbing and infrastructure for financial projects building on the Solana ecosystem. Protocols with any trading-related features benefit by sending their bids and offers to Serum DEX’s central limit order book (CLOB). The advantages are Solana’s ultra low costs and latency, combined with Serum’s liquidity which is bolstered by some of the largest market makers including Alameda and Jump. $SRM holders benefit when projects add liquidity and volume to Serum DEX, as DEX fees go towards buy and burn. This model showcases how Serum will flourish. Our friend, Raydium Protocol, is an illustrative case.

    DeFi moves at lightspeed and it can be hard to keep afloat.

    Many exciting projects are being built on the Serum DEX. The ecosystem is flourishing and we can point to many promising initiatives.

    Last year, the Serum team developed a number of consumer-facing proof of concepts apps, including DEX GUIs, Pools, and AMMs. While these initiatives demonstrated Serum’s potential as a budding ecosystem, the longer-term focus has always been to inspire entrepreneurs to build their own products on Serum.

    Serum Swap represented a significant milestone for Serum, demonstrating just how powerful AMMs can be when swaps are cheap and fast. As Serum continues to evolve, the ecosystem will rely on the community to take advantage of Serum’s frontend proof of concepts and to take them to the next level. Serum will then focus on building its underlying protocol, refining its backend capabilities to become the most efficient ‘piping’ for DeFi to support greater liquidity and composability.

    For this reason, Serum Swap was recently deprecated and swap volume will from now on be directed to specialised AMM applications, including Raydium and Orca. Participants will be allowed to safely withdraw liquidity from existing pools indefinitely.

    What does this mean for the Serum ecosystem and $SRM? The simplest possible answer is: not much.

    We hope to provide a sufficiently in-depth explanation in our new blog series. Coincidentally, this is also an opportunity to revisit the purpose behind Project Serum, its long-term ambition, and what’s in store for $SRM holders.

    The key takeaway: Serum DEX is the plumbing and infrastructure for financial projects building on the Solana ecosystem. Protocols with any trading-related features benefit by sending their bids and offers to Serum DEX’s central limit order book (CLOB). The advantages are Solana’s ultra low costs and latency, combined with Serum’s liquidity which is bolstered by some of the largest market makers including Alameda and Jump. $SRM holders benefit when projects add liquidity and volume to Serum DEX, as DEX fees go towards buy and burn. This model showcases how Serum will flourish. Our friend, Raydium Protocol, is an illustrative case.

    The Serum DEX

    Serum DEX is a permissionless and trustless decentralized exchange which leverages Solana blockchain to achieve unprecedented speeds and maintain a fully on-chain central limit orderbook.

    At one level, the value offered is straightforward: a high throughput and low latency DEX with an on-chain orderbook brings a trading experience similar to that of a CEX, with the additional features of being non-custodial and allowing users to choose the price, size, and direction of their trade. Sub-second settlement and ultra-low transaction costs, thanks to Solana and its scalable design, cements the DEX’s future as an effective trading venue.

    Another level of value incorporates familiar partnerships: Wormhole, for example, is a cross-chain bridge that allows users to convert between ERC20 and SPL tokens, meaning users can take advantage of Solana’s costs and speeds when settling back into the Ethereum network.

    Such features make Serum close to pure DeFi without the fundamental tradeoffs between speed and decentralization, characteristic of predecessor DeFi initiatives (which we commend and owe much to). The value accrued to Serum token ($SRM) token holders comes from $SRM’s utility and governance functions, as well as DEX fees, which go towards buy and burn. Volume and burn sizes in Serum have been increasing consistently.

    The above observations concern only the DEX, however. What of our ecosystem? And what exactly is meant by ‘the Serum ecosystem’?

    The Serum Ecosystem

    “Composability is one of the most powerful features of DeFi. Newly built DeFi applications can automatically integrate with others as if they were native.”

    Phrases like this are done to death. So is the observation that “the resulting sum is greater than the parts” stitched together through composing. What this greater sum looks like, however, may still be a surprise for many.

    The ultimate vision for Serum was, and still is, reaching a billion users and a $1 trillion dollars on-chain.

    Allow us the grand premise that Serum is the candidate and live DEX for this ambition. What kind of an ecosystem, then, would a billion such users want? What kinds of services and products would be offered?

    We leave you to imagine what this resulting ecosystem would look like (and a significant driver for Serum’s ambition is indeed imagination). The following observation may help paint the bigger picture:

    A central limit orderbook (CLOB) matches all bids and offers according to order price and (then) time priority. The matching between buyer and seller is fundamental to all types of financial transactions. For fungible tokens, we believe CLOBs provide the most capital efficient markets.

    Consider a popular alternative, the Automated Market Maker (AMM), which pools liquidity and allows users to trade against them, with prices determined (usually) by an equation that considers the supply of the pooled tokens (x * y = k). While we appreciate the significance of AMM trading and its implications for decentralized finance, current AMM implementations are not as capital efficient as CLOBs.

    Enter composability. An AMM that composes with Serum’s CLOB, for example, can create a hybrid AMM model with distinct advantages for the ecosystem: AMM-style liquidity provision with reduced slippage, for example.

    The possibilities expand into all domains of trading. A custom Serum DEX GUI can focus on a specific segment of traders and provide value-added features like automated strategies. A borrow-lending protocol that matches borrowers and lenders via an orderbook as opposed to a market model can establish a fairer clearing price for participants. Perhaps real-world applications can connect to that borrow-lending protocol to generate yield for tradfi users.

    Whichever way the ecosystem is expanded, it all bottoms-out to the DEX and orderbook.

    Serum DEX is the matching engine powering Solana-based financial projects — protocols which feature some form of trading and which benefit from Serum’s liquidity and DEX prices (whether for order execution, pricing, market data, or risk management). And as $SRM holders know, Serum collects DEX fees from all platforms, with 80% going to SRM buy and burn and 20% going to DEX hosting.

    We look forward to even greater innovations from our ecosystem participants. The developer resources and community are always available for the next generation of builders seeking to compose exciting DeFi concepts with Serum’s core infrastructure and unlock the potential of decentralization and capital efficiency without tradeoffs in trust, convenience, or security.

    Serum Swap and Raydium

    The plan for Serum DEX is clear. What, then, was the purpose of deprecating Serum Swap, the proof-of-concept AMM? What does a participant like Raydium do for the Serum ecosystem and the future of $SRM?

    Let us be clear: Serum Swap’s deprecation is not a step backwards. In fact, Serum Swap never sent orders to Serum DEX’s CLOB.

    Compare this set up with Raydium, which does send orders to the CLOB, resulting in fees generated that go towards buy and burn.

    The choice to remove Serum Swap reflects a long-term interest in Serum ecosystem’s development and encouragement for proven AMM players to grow and, in return, bring greater liquidity and volume to Serum. This is the short answer; an in-depth explanation is also in order.

    Synergy with Raydium

    Raydium is an incredible AMM building on the Serum and Solana ecosystems and the first to source its liquidity from an orderbook.

    One of its distinguishing features is its incorporation of the Serum orderbook according to its constant product invariant. As we know, the traditional decentralized AMM model relies on a deterministic algorithm (usually following a product curve equation) to make markets for the pooled assets users supply and transact against.

    “Raydium takes all the tokens accrued in its liquidity pools to place orders on the orderbook according to the constant product invariant.”

    The traditional drawbacks of AMM’s are also well known: gas fees, network congestion, slippage on large orders, and fragmented (overlapping) liquidity, to name a few.

    Raydium combats the fee and speed problems through its choice of Solana. This particular advantage is clear.

    As for resolving issues of slippage and liquidity, Raydium brings an innovative market making structure by leveraging Serum DEX’s order flow alongside providing liquidity with its own pools. Approximately 50% of Raydium’s swaps end up on the orderbook.

    Unlike other AMMs, Raydium provides on-chain liquidity to a central limit orderbook, meaning that Raydium liquidity providers get access to the entire order flow and liquidity of Serum and traders reap the benefits of greater liquidity and less slippage.

    In fact, access is bi-lateral and benefits the entire Serum ecosystem: orders submitted to the orderbook by Raydium can be transacted against by anyone on Serum and vice versa. The relationship between Serum ($SRM) and Raydium ($RAY) is therefore not one of competitive hostility, but of ambitious synergy.

    This is what it means to build on Serum. The ecosystem continues to burgeon, developer resources abound, and the ultimate vision remains in sight.

    Go to Source
    Author: Serum

  • solbot

    Member
    April 29, 2021 at 12:49 pm

    Welcome readers new and old to the Serum Newsletter #27! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.

    Serum Discord: https://discord.gg/fQZ5sjKm

    Burns and Staking Rewards

    Project Serum has passed $3B in trading volume since inception, burned 1.2M $SRM.

    This week 55708.39 $SRM was burned and 13927.10 $SRM was dropped on stakers. $657,359 at current prices. Last week 89,466.08 $SRM was burned and 22,366.52 $SRM was rewarded to $SRM stakers! This is $1,055,699.74 at current prices.

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    Serum Growth

    Serum is seeing a powerful inflow of new users and the metrics across all the Serum GUI’s are going through the roof!

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    We’re also seeing consistent $100m volume days on the DEX which has in turn caused large buy and burns and staking reward drops every week.

    Serum, SRM, and an Ecosystem for the Future — Part 1

    Serum, SRM, and the Ecosystem — Part 1

    TL;DR: Serum DEX is the plumbing and infrastructure for financial projects building on the Solana ecosystem. Protocols with any trading-related features benefit by sending their bids and offers to Serum DEX’s central limit order book (CLOB). The advantages are Solana’s ultra low costs and latency, combined with Serum’s liquidity which is bolstered by some of the largest market makers including Alameda and Jump. $SRM holders benefit when projects add liquidity and volume to Serum DEX, as DEX fees go towards buy and burn. This model showcases how Serum will flourish. Our friend, Raydium Protocol, is an illustrative case.

    Another one you don’t want to miss reading:

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    Star Atlas NFT Launch

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    Global Solana Hackathon

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    New Projects Entering the Ecosystem

    We want people and gamers from everywhere in the world to discover blockchain use cases in a fun and educating way. To achieve that ambitious goal, we have chosen to be powered by Solana and to use Serum for our in-game marketplace. Solana is a lightning fast blockchain with almost zero fees which will allow players to benefit from a qualitative gaming experience.

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    Today we’re thrilled to unveil Jet Protocol, a borrowing and lending protocol built on the Solana blockchain. We’ve seen the acceleration and adoption of cryptocurrencies and their blockchain platforms over the past 4 years as a result of hard work and perseverance through a long and difficult bear market. We believe the primary driver of this latest explosion of interest and usage of blockchains is DeFi, and we are extremely excited about where its potential lies.

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    Ecoserum Grants

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    If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at contact@projectserum.com. We’re always happy to answer questions or aid in any way we can!

    Go to Source
    Author: Serum

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