Serum Blog Updates

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  • Serum Blog Updates

     solbot updated 15 hours, 2 minutes ago 1 Member · 51 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

  • solbot

    Member
    May 12, 2021 at 4:21 am

    Serum, SRM, and an Ecosystem for the Future — Part 2

    TL;DR: Serum DEX is the core infrastructure powering financial and other major projects on the Solana ecosystem. Protocols with trading-related features benefit from being able to use Serum DEX’s central limit order book (CLOB) for trading, data, pricing, and risk management. One can build a myriad of sophisticated financial services on top of the DEX and all composing with each other to deliver synergistic value. Nevertheless, the entire ecosystem bottoms out at Serum DEX, which collects DEX fees that go to $SRM buy and burn. We identify a number of exciting and promising projects in the Serum ecosystem to illustrate our point.

    Serum emerged from the experimental energy of DeFi summer in 2020.

    The team behind Serum chose the path less taken, insisting on ambitious design choices despite their immense challenge. One such choice was building on Solana as opposed to Ethereum. Another choice was to build a DEX with a fully on-chain central limit orderbook (CLOB) — an architecture whose immense network intensity would be unsustainable without a blockchain like Solana.

    The question naturally arises: of all ideas, why build a CLOB-based DEX? Why not pursue, for example, an AMM model?

    The rationale behind building Serum concerns the future of DeFi. We return to a question asked in Part 1 of our series: What infrastructure must be present to support and attract an ecosystem of one billion users and $10 trillion of on-chain value? In other words: How do we go about realizing the global mass adoption of DeFi?

    One crucial element for answering this challenge is financial services: such an ecosystem would surely replicate the financial products we take for granted in our day-to-day lives.

    This observation alone is not very interesting. But consider how almost all financial services essentially reduce to the exchange-level (or, somewhat more philosophically, the level of exchanging between two parties). At the end of the day, there is a trade on an exchange to make a number of superstructure services happen. This is where Serum DEX steps in.

    We noted in Part 1 that:

    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.

    Solana allows Serum to deliver this service on-chain. The value-add behind Serum’s CLOB-based design is two-fold:

    At one level, the market structure of a CLOB-based trading venue allows for larger trades than, say, an AMM might allow, but without heightened risk of slippage.

    For AMMs, the risk of slippage depends on the slope of its (x * y = k) price curve and the total value locked in its pool. Every unit of liquidity added is spread across the slope of the price curve, including areas of the curve containing prices which are unlikely to be traded at in the short or medium term. The liquidity being allocated to those ‘stale’ prices is wasted and could be used somewhere else, such as a price range that matters.

    The beauty of CLOBs is that liquidity can be concentrated in the most efficient way and adjusted in real-time. This ultimately results in more accurate pricing and more efficient markets.

    At another level, users benefit deeply from DeFi’s composability and the synergies arising from a system of projects connected, firstly, with Serum DEX, and, potentially, with each other.

    With the Serum DEX alone, we have spot trading. New projects can, and continue to, explore new ways to compose with the DEX. Where could financial innovators go from here?

    A scattering of ideas:

    With a composable on-chain CLOB, one can create a borrow-lending protocol with specialized infrastructure for capital efficiency and leveraged trading. Features could include in-pool trading directly to an exchange and allowing for margin trading via borrow-lending iterations in a single click. The permissionless nature of DeFi combined with Solana’s latency and costs make such on-chain features feasible.

    What about structured products? Perhaps one way to build a future contract may be to create a market between two tokens that turn into the actual underlying upon expiry via a redemption facility. With an oracle network in place, futures can be on any underlying you can obtain data for. Composing this with borrow-lending would then allow for leveraged trades.

    Replication of other products is conceptually straightforward too. One way to think about ETF’s may be something like on-chain pools. Options would be prediction markets expiring to a chosen function of an underlying price; combine this with an oracle feed, and you can have a market of a token expiring to a value of 1 or 0 depending on a measurable outcome. A way to think about bonds is tokens issued by someone promising to honor it with the strongest word they have, perhaps by collateralizing their bonds with the tokenized equity of what they are building.

    The point here is not to trivialize the sophistication of these instruments. Rather, we hope to lightly illustrate one path by which developers can build, on-chain, the underlying financial instruments driving at least half of the world’s financial activity.

    Other infrastructures are also essential, of course: risk engines, prime brokerages, retail-facing GUIs — there are many project choices and exciting approaches for passionate developers who share our ambitions for DeFi.

    However the system is built, it all bottoms-out to the on-chain DEX and orderbook. And this is just with regards to the financial realm. Industries like social media, gaming, and travel can also be enriched through building on and interacting with the Serum DEX.

    Hopefully, this gives a vivid and inspiring picture of Serum DEX’s potential as the matching engine powering Solana-based projects which benefit from the DEX’s matching service, liquidity, and price data.

    And the more, the merrier: the Serum and Solana communities are ones driven by camaraderie, passion, and innovation. It’s never been better for $SRM holders and DeFi users, who all benefit from the arrival of more projects driving further volume and innovation for Serum.

    Who’s Building What?

    Established and new players continue to join our ecosystem, and we’re impressed with the influx of innovative and original approaches towards replicating financial and other day-to-day services on-chain. Developers are always invited to utilize existing resources, check out popular project ideas, and to come interact with the community.

    So who’s building what on Serum? How have they chosen to connect with Serum DEX and the ecosystem?

    We offer a comprehensive but not exhaustive list of exciting projects. We hope this line-up will both inform and inspire users and developers alike.

    Bonfida

    Bonfida is the flagship Serum GUI and full product suite bridging the gap between Serum, Solana, and the user through its highly intuitive trading interface, Solana data analytics, and sophisticated ancillary features.

    On top of offering a user-friendly DEX UI, Bonfida features advanced on-chain order types, exclusive markets, and listings, and two trading modes for users of different experience.

    Bonfida also developed Bonfida Bots, which allow people to automate their trading strategies on Serum as well as copy trading. These bots also have the capacity to plug into TradingView natively so any TradingView strategy can be automated on Serum out of the box. In the first month of launch, the bots executed over 240k trades with an average of 8k trades daily. This is a monumental feat as it clearly indicates that it is being adopted by the community.

    The $FIDA utility token ties everything together: holding and staking $FIDA grants fee discounts, governance powers, and access to special Solible markets and features.

    Mango Markets

    Mango Markets 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 is building margin trading/lending and perpetual futures along with decentralized governance to decide the future evolution. Mango’s permissionless ecosystem encourages spectacular, unpredictable innovations.

    Mango harnesses the power of Solana as well as Serum’s CLOB. Mango Markets is currently in public beta offering up to 5x leverage margin trading on BTC and ETH with more token pairs arriving soon.

    PsyOptions

    PsyOptions is an options protocol that utilizes Solana’s speed and throughput to bring a TradFi feel to DeFi. Options minted via the protocol are represented as SPL tokens to allow composability such as trading options on Serum order books. The protocol is responsible for the minting, clearing, and settling of options, and is completely decentralized.

    Users will be able to write and trade options from the PsyOptions website, which integrates with Serum directly. Users will eventually be able to create and manage complex/multi-legged strategies through the dashboard. Mature options infrastructure is severely lacking in DeFi and PsyOptions aims to fill that void.

    Raydium

    Raydium is an on-chain orderbook AMM built on Solana and leveraging Serum DEX’s central limit order book for fast trades, shared liquidity, and features for earning yield.

    Unlike other AMM platforms, Raydium provides on-chain liquidity to Serum’s central limit order book, meaning that Raydium’s users and liquidity pools have access to the order flow and liquidity of the entire Serum ecosystem, and vice versa.

    Raydium also offers single and fusion (dual) reward farming pools to drive ecosystem-wide liquidity and enable projects to grow. Raydium’s initial Fusion pools will be the first to offer dual yield rewards for liquidity providers and stakers. Users receive farming rewards in both $RAY, as well as the project token for the pool they are staking.

    Raydium’s AcceleRaytor launchpad allows new Solana projects to raise capital and drive initial liquidity in a decentralized and interoperable manner, while enabling both project and Raydium communities to participate in carefully curated and vetted token offerings.

    Oxygen

    Oxygen is a DeFi prime brokerage service built on Solana and powered by Serum’s on-chain infrastructure. Built to support hundreds of millions of users, it serves as a permissionless, cheap, and scalable protocol that democratizes borrowing, lending, and trading with leverage and allows users to make the most of their capital. Oxygen aims to recreate the business units traditionally found within investment banks and to make them accessible to retail and institutional users.

    With Oxygen, users can earn yield, borrow from peers, trade directly out of your pools, and get trading leverage against a portfolio of assets. Oxygen provides a more efficient way to manage capital and is unique from other borrow lending protocols through features like multiple uses of the same collateral, cross-collateralization, and market-based (order-book based) pricing.

    One interesting integration in progress is Oxygen’s composing as the financial backend for the DeFi yield generation function in Maps.me. Maps.me users will interact with an intuitive UX to enjoy their wallets earning them yield. In the background, Oxygen will match borrowers to the requested liquidity through Serum DEX. The provision of this valuable service to Maps.me users in turn provides liquidity for Oxygen from the lending-side.

    Jet Protocol

    Jet Protocol is a borrowing and lending protocol built on the Solana blockchain. Jet’s core lending function will build on the token-lending program found in the Solana Program Library repository as well as the applicable cross-margin pull request for the initial mainnet launch. Users can also look forward to Jet Protocol’s innovative interest bearing products which will be used to create markets on Serum DEX.

    Beginning with the launch of the cross-margined lending protocol, extendable via APIs will be provided to traders, market-makers, and liquidity providers. Upcoming features include liquidity mining, innovative liquidation mechanisms, interest-bearing tokens, and cross-chain modules for equalization of interest rates.

    The Jet Protocol will provide Solana market participants a place to borrow against their assets and manage their debt positions. This functionality paves exploration for leveraged borrowing automated position management and liquidity provisioning for senior and junior debt positions.

    Solrise Finance

    Solrise Finance is a decentralized fund management and investment protocol built on Solana and Serum. Solrise allows users to create and enter decentralized funds with under $20, reducing the barrier-to-entry to nearly 0, and is completely non-custodial — which means fund investors know their funds are secure.

    Solrise is building on top of Serum’s SWAP and DEX architecture, with fund managers able to access both platforms with invested funds. Solrise intends to provide fund managers with access to all of the tools and DeFi protocols they need to compete on the cutting edge and get the highest possible returns.

    COPE

    COPE is a project that has two phases. In Phase one, trader performance will be evaluated retrospectively based on their calls on crypto markets; call makers will be categorized into a leaderboard which provides a narrative informing a new type of investment product based on top trader calls. Phase two involves an automated investment product that users can permission to trade on their behalf based on this leaderboard.

    There are three core products on the horizon: COPE Leaderboard, COPE Index, and COPE Trading Pools. These products will use the Solana blockchain and integrate with its ecosystem. The COPE Leaderboard allows COPE to catalogue and understand the skills of the most effective investment minds in the community. The COPE Index allows the Community to harness and invest in those minds. The COPE Trading Pools will allow Community members to select call makers with the most effective performance. These products are made possible by the Serum DEX. Below is an illustration of how trading pools will work:

    Users will be able to send their USDC to a call-maker’s Solana program. Each Solana program will invest the user’s USDC in a Serum market associated with the call maker’s most recent coin/token mentioned in their call.

    With the support of its community, COPE continues to garner more traction everyday. The COPE community is over 20,000 strong and continues to grow stronger, with over 21,000 Solana wallets having interacted with the COPE token in the last month.

    Maps.me

    Maps.me is the world’s leading offline mapping application. Over the last nine years, Maps.me has been trusted by 100M+ users, with over 60M people using Maps.me last year to navigate across 195 countries. The app provides turn-by-turn routing, travel guides, and detailed mapping.

    Maps.me 2.0 is a reshaping of the popular Maps.me offline mapping and travel-booking app to be the ultimate travel companion and your passport to the new financial system. Maps.me 2.0 will support both online and offline maps, and will be launching its native financial suite to a hundred million users, with its key DeFi components built on Serum. Powering Maps.me 2.0 is the $MAPS token which governs 100% of the platform’s net revenues; MAPS token-holders using the app will also benefit from personalized promotions and rewards.

    Maps.me 2.0 has a natively integrated wallet which will allow users to discover, review, and book directly, creating a seamless and cheaper experience. Users will be able to transfer money cross-border with low fees, manage multi-currency accounts, and exchange across 37 currencies. The wallet will have a yield generation feature, which allows users to deposit their fiat and generate income. Oxygen Protocol will operate as a financial backend to this wallet functionality.

    Pyth

    Pyth Network is an oracle network “being built by some of the biggest names in traditional finance and DeFi” with the goal of providing the infrastructure for DeFi to support reliable, institutional grade market data oracles. Existing solutions focus on harnessing the wisdom of crowds to source data; Pyth seeks to become a complementary oracle solution to these current offerings.

    Pyth Network has attracted some of the largest traders and exchanges who have lots of data, but for whom selling data is not a primary business. Using the power of decentralization, Pyth hopes to pool that unharnessed data and create alternative sources of high-quality composite market data. Pyth’s network offerings feature 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.

    Media Network

    Media Network is a privacy-first and community-governed content delivery network (CDN) that bypasses traditional CDN providers’ centralized approach for a self-governed and open source solution where everyone can participate.

    Media Network creates a distributed bandwidth market that enables service providers such as media platforms to hire resources from the network and dynamically come and go as the demand for last-mile data delivery shifts. Media Network allows anyone to organically set up new Media Edges and serve content without introducing any trust assumptions or pre-authentication requirements. Participants earn MEDIA rewards for their bandwidth contributions, a fixed supply SPL token minted on Solana’s Blockchain.

    The protocol utilizes new mechanisms to encourage honest and collaborative work between participants of the network. To scale an existing infrastructure, developers or media platforms will buy MEDIA off of exchanges, provide liquidity to any designated Serum DEX pools, and stake the resulting LP MEDIA tokens.

    Media Guards will verify the amount of staked LP MEDIA tokens and authorize the new resource into the network assigning bandwidth quotas, DNS names, and security settings. Everything is encrypted with a password and recorded on Solana’s blockchain. Bandwidth quota depends on the amount of LP tokens staked; the more MEDIA staked, the more burstable bandwidth available for end-users. Media Edges listening to these on-chain transactions will start pulling content from the origin and replicating it worldwide, relaying the data on-demand. End users requesting the new provided URL instead of the original path to the source will get the data from the closest edge based on geolocation and latency.

    Star Atlas

    Star Atlas is an immense metaverse with a space exploration and territorial conquest MMO game built on Solana. By combining blockchain mechanics, state-of-the-art graphics, and the latest in 3D technology, Star Atlas is carving out the future of the gaming industry by redefining how virtual items are traded and what they’re worth both in and out of the metaverse.

    Star Atlas uses the Serum DEX for trading all game assets. When a user views their inventory in the Star Atlas UI, they can see all the Official Star Atlas NFTs that they own. When they click to view the details of an item, they will also see the best ask and bid prices on the Serum Market Order Book for that specific item, allowing them to place orders for it. There will be many thousands of in-game items, and to make that efficient, we aim to have one Serum Market per NFT, pairing them with the primary currency of the Star Atlas metaverse, the ATLAS token, and a convenient UI to trade other currencies into ATLAS directly through the same interface.

    Aurory

    Aurory is an upcoming gaming platform based on the play-to-earn mechanism. Developed by passionate game developers from France and Canada, Aurory aims to let newcomers discover cryptocurrencies in a fun and educational way.

    There are multiple game modes planned for Android and iOS. The solo game mode is a J-RPG inspired side scroller where the player fulfills quests, interacts with NPCs, and defeats opponents to advance the plot. Every creature defeated will be earned as an NFT in players’ wallets. These NFTs cards will be the core of Aurory’s multiplayer modes and will allow players to compete against other players or to gain additional items. Completing quests also allow players to gain tokens for multiplayer game modes or to buy items in the marketplace.

    Aurory will use an SPL token as a core of its gaming ecosystem. Using Serum for the marketplace allows for blazingly quick transactions, very low fees, and a performant in-game economy where players can trade their items in exchange for tokens or buy items to compete in the multiplayer mode in the most fair way possible.

    Open Era

    OpenEra is a PvP, PvE fantasy MMORPG inspired by the likes of RuneScape. It takes place in a fantasy world with variant timelines. The opportunity to travel throughout these timelines will be given to players, and opted into, via community governance. Each timeline has different monsters, resources, updates to in-game economic models, and quests to challenge players.

    In OpenEra, players can customize their avatars, and are free to choose their own journey and desired skills to master. Players can battle NPC monsters for resources and experience to increase their levels, or complete the quests to acquire experience, limited resources or weapons.

    OpenEra aims to introduce a unique player driven economy where in-game money markets can be bridged with off-game markets. For example, non-gamers can speculate on the future prospects of the in-game economy which is affected by the players and verifiably random factors within the game. OpenEra leverages Serum to create these in-game money markets where instruments such as local currency, or synthetic in-game financial instruments can be traded. Similarly, it is leveraged as the underlying protocol for in-game commodity trading houses — where players trade raw or refined assets like ore, hyde, or wood. Outside of OpenEra, Serum will be leveraged by OpenEra’s money market protocols that are focused on lending and derivatives markets.

    SerumTaxTime

    SerumTaxTime is a trade exporter for the Serum GUI that allows users to download their historical trades into a CSV for tax purposes.

    This is just the beginning of Serum’s journey. Needless to say, Serum remains committed to its ambitious undertaking of building and fostering an ecosystem for everyone.

    There’s much to do. Come aboard, bring your wildest dreams, and let the world know about Serum.

    Read Part 1 of our Series

    Read An Ultimate Vision for Project Serum

    Read Building on Serum’s Vision

    Check out Serum’s Developer Resources and Project Ideas

    Listen to Sam Bankman-Fried’s breakdown of the Serum ecosystem

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    Author: Serum

  • solbot

    Member
    May 18, 2021 at 10:53 am

    Welcome readers new and old to the Serum Newsletter #28! 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/V9Xzqqxj

    Burns and Staking Rewards

    Project Serum has passed $4B in trading volume since inception, burned 1.4M $SRM.

    This week 79,697.51 $SRM was burned and 19,922 $SRM was dropped on stakers. $967,997.82 at current prices. Last week 65,141 $SRM was burned and 16,284 $SRM was rewarded to $SRM stakers! This is $797,965 at current prices.

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    Serum DEX 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.

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    Serum, SRM, and an Ecosystem for the Future — Part 2

    We take a closer dive into the Serum DEX CLOB and its crucial role in our ecosystem, before identifying a number of exciting and promising projects building on Serum.

    Serum, SRM, and an Ecosystem for the Future — Part 2

    TL;DR: Serum DEX is the core infrastructure powering financial and other major projects on the Solana ecosystem. Protocols with trading-related features benefit from being able to use Serum DEX’s central limit order book (CLOB) for trading, data, pricing, and risk management. One can build a myriad of sophisticated financial services on top of the DEX and all composing with each other to deliver synergistic value. Nevertheless, the entire ecosystem bottoms out at Serum DEX, which collects DEX fees that go to $SRM buy and burn. We identify a number of exciting and promising projects in the Serum ecosystem to illustrate our point.

    Building on Serum and Want a Hand?

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    Ecosystem Updates

    The Serum and Solana Ecosystem has had quite an eventful couple weeks. From the Solana Hackathon achieving 10k registrations to Pyth Network going live, and many of the protocols continuing to build out futures.

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    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.

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    The objective of this competition is to get traders and bot authors involved in a Serum DEX competition to show who is best and win some juicy prizes. Spectators can trade along with their favorite traders throughout the process and become more familiar with on-chain trading. In addition to trading manually on Serum DEX, we want to show users that they have another option and it’s incredibly easy to trade programmatically.

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    Introduction to Serum integration and Solana development workshop

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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!

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    Author: Serum

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0 of 0 posts June 2018
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