Serum Blog Updates

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  • Serum Blog Updates

     solbot updated 1 day, 21 hours ago 1 Member · 79 Posts
  • solbot

    Member
    June 8, 2021 at 7:19 pm

    Welcome readers to Serum Newsletter #29! As the Serum and Solana ecosystems continue to grow, we’ll continue updating you on all the interesting developments and exciting projects being built!

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $4.79B in trading volume since inception.

    This week, 36.3k of $SRM was burned and 9k of $SRM was dropped onto stakers — $178,935.00 worth at current prices.

    Last week, 48,515 $SRM was burned and 12,126 $SRM was dropped onto stakers. At current prices, that’s $239,531.95 worth of $SRM.

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    FTX Pay

    FTX Pay was introduced, offering a way for merchants to accept crypto payments from users. Merchants can receive payments at two destinations: an FTX account or an external wallet such as Sollet.io!

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    DeFi ☀️ Hackathon

    The DeFi Hackathon was a huge success with more than 3000 projects participating.

    Watch @MangoMarkets, @PsyOptions, @MarinadeFinance, @Synthetify, @SolriseFinance, and @OpenEraHQ showcase what they’ve built here!

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    Scale Solana to 1 Billion 🌏 people?

    Tristan Yver had a very insightful interview with Solana co-founder Anatoly Yakovenko.

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    Watch the full interview here.

    Mango 🥭 is BUIDLing

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    Ecosystem Update

    GTS to Provide Cross-Asset Market Data Through the Pyth Network Oracle Solution.

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    Blocto, a cross-chain smart contract wallet, has been awarded two grants.

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    DeFi Land, a multi-chain agriculture-simulation web-game created to gamify decentralized finance.

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    Wum.bo, a platform built on top of Solana that brings Creator Coins directly to the networks where creators interact with their fans.

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    Introducing Solend, decentralized protocol for lending and borrowing on Solana.

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    Who’s building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    And so many more!

    That’s a wrap! Thanks for reading ! 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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    June 16, 2021 at 3:48 pm

    Welcome, readers, to Serum Newsletter #30! The Serum and Solana ecosystems continue to expand rapidly. Here are some new, exciting updates and coverage of the interesting things being built!

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $4.94B in trading volume since inception.

    This week, 50,939 SRM was burned and 12,732 SRM was dropped onto stakers — This is $272k worth at current prices.

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    Never been faster ! ⚡

    Swap directly on Serum DEX from Sollet! It’s never been faster :

    Give it a try at Sollet.io

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    Serum and Solana Listed on Kraken ! 🦑

    SRM is now listed on Kraken, one of the biggest U.S. based cryptocurrency exchanges.

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    Solana Labs ☄️ New Funding

    Solana Labs plans to launch an incubation studio to speed up the development of projects building on the Solana blockchain and set up a venture investing arm for the Solana ecosystem.

    Why $314,159,265.359 million, you wonder? Because it represents the mathematical constant π multiplied by $100 million!

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    Solana appeared on 📺 CNBC !

    “It’s a revolutionary technology that is really enabling people to go person to person without any intermediaries. But Bitcoin and Ethereum are just way too slow for that.” Anatoly Yakovenko

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    Chris McCann collects “great” Solana Hackathon submissions 📓

    Countless new and exciting projects are coming up in the Solana and Serum ecosystems thanks to the Hackathon. It can be hard to keep track! Chris McCann’s incredible coverage of the submissions makes it easier to track and visualize!

    Spreadsheet link.

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    Chris McCann also put together a short list of great projects in the Solana ecosystem who are hiring.

    Join the fastest growing blockchain ecosystem in the world today ! ☀️

    Spreadsheet link.

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    Will Artists 🎨 fuel adoption?

    “They’ll have equal opportunity in the capital markets, they’ll see themselves elevated, and many of them will get back to what they used to do and love as children.” Raj Gokal

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    Ecosystem Update

    Aurory — play, earn collectibles, and generate yield ! 🎮

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    Moët Finance, derivatives on-chain. Please be careful 🍾 when trading options. One should always abstain from drinking and deriving.

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    Orca releases its new stablecoins pool!

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    Rope, a decentralized ecosystem that brings the well known market volatility index to crypto.

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    Introducing ProjectLarix, the lending protocol of Solana.

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    Who’s building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    June 23, 2021 at 1:52 pm

    Welcome, readers, to Serum Newsletter #31! The fun never ends in Serum and Solana land! As always, there’s tons of updates to cover. We’ll give you a run-through of some of the most exciting and headline-grabbing events, as well as some content we’ve found especially educational.

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.02B in trading volume since inception.

    This week, 46,162 SRM was burned and 11,538 SRM was dropped onto stakers — This is $173k worth at current prices.

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    Project Serum releases a new website ! 💥

    The team is proud to present the brand new Project Serum website! Come check it out and explore what’s Built on Serum and tell us what you think!

    SOL is precious, so here’s a little trick 👇

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    RenBTC 🔗 is launching on Solana !

    Cross-chain infrastructure like RenVM on Solana and Serum will prove indispensable for growth!

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    Looking for a crypto gig? 💼 SolJobs is here!

    Join an incredible team and play a key role in the most exciting, fastest growing ecosystem!

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    Insightful Interview

    Cobie & Ledger had a chat with the founders of Solana, Anatoly Yakovenko and Raj Gokal. They discussed Solana, what makes it different from other L1s, and why they believe Solana blockchain will last. ☀️

    You can watch it on YouTube.

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    Circle partners with Maps.me 🗺️

    Through their new partnership, Circle and Maps.me will offer consumers using USD Coin (USDC), the world’s fastest growing dollar digital currency, simplified access to Maps.me’s DeFi ecosystem.

    “DeFi is ready to go mainstream and Circle is a natural partner for the Maps.me ecosystem in driving mass adoption.” Alex Grebnev, Co-founder of Maps.me

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    Chris McCann strikes again

    Chris takes a deep dive into the world of DeFi infrastructure and shows how it challenges traditional finance. A very good read! 🧠

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    Serum Pulse 📈

    Hungry for Serum Markets analytics? Check out the newly released Serum Pulse! Serumpulse.com was developed by a member of the Serum community; we always love to see this kind of healthy growth and support!

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    LMAX joins Pyth Network as a 📊 data provider

    “We believe the Pyth network built on the low latency Solana blockchain can revolutionise and democratise market data provision. This is a milestone for the industry as the DeFi ecosystem expands and we look forward to helping develop the network, which will be the primary market data oracle.” David Mercer, CEO of LMAX Group

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    Who’s building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry Decentralized index protocol for easy diversification and passive earnings

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    June 29, 2021 at 5:27 pm

    Welcome, readers, to Serum Newsletter #32! The excitement never ends in Serum and Solana land! In this week’s issue, we cover a number of exciting, milestone events in the ecosystem and some nifty updates on some of our favourite Serum-related projects! Stay tuned, and have a wonderful week!

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.14B in trading volume since inception.

    This week, 66,547.85 SRM was burned and 16,634 SRM was dropped onto stakers — This is $266k worth at current prices.

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    SOL is Finally Live on Serum Swap ! ⚡

    You asked, and we listened! You can now exchange SOL for any SPL tokens directly using Serum Swap.

    Give it a try on Sollet.io now!

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    The Hackathon Winners 🏆 have been Announced

    Beyond engaging with talented builders worldwide, the hackathon allowed the Solana Foundation to improve essential documentation, tooling, and other educational resources to better serve all developers integrating with Solana.

    A huge congratulations to all the epic winners, as well as to all participants! So many incredible and innovative projects have come out of this intense Hackathon. Solana is a truly thriving ecosystem ☀️

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    Below is a great infographic that summarises the winners of the Solana Hackathon 👇

    Courtesy of Solanians

    ZetaMarkets Grand Prize Winner

    We want to congratulate @ZetaMarkets for being the Grand Prize Winner of the Solana Hacktahon! They have demonstrated great execution and showcased a strong product. We look forward to watching their development!

    Take a look at @ZetaMarkets product demo here.

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    Solana Podcast with Orca 🐋 founders

    Yutaro Mori & Grace Kwan, the Co-Founders of Orca, a user-friendly cryptocurrency exchange built on Solana, had a chat with Solana co-founder Anatoly Yakovenko about Orca, its vision, DeFi and upcoming developments.

    Listen to it here.

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    Serum x Pyth Network

    Serum prices are now feeding into the Pyth Network oracle solution!

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    Virtu Financial to partner with Pyth Network

    Virtu Financial to publish market data across equities, FX, futures and crypto on the Pyth Network for sophisticated asset pricing and consumption by smart contract. Virtu is one more new addition to Pyth’s lineup of institutional data publishers, along with GTS and LMAX.

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry Decentralized index protocol for easy diversification and passive earnings

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    July 6, 2021 at 7:43 pm

    Welcome, readers, to Serum Newsletter #33! The excitement continues unabated in the Serum and Solana ecosystems! In this week’s issue, we summarize the recent parade of new milestone events in the ecosystem and some cool updates on our favourite Serum-oriented projects! Stay tuned, and have a great week!

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.24B in trading volume since inception.

    This week, 37.7K SRM was burned and 9.4K SRM was dropped onto stakers — This is $167k worth at current prices.

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    Project Serum DEX 🆕 UI

    A new UI has been released with a special upgrade. You can now watch your favorite live price action charts directly from the trading interface of Serum DEX thanks to TradingView.

    Go check it out.

    A great infographic displaying all the projects built upon Project Serum by the Solanians team on Twitter. These are projects which directly benefit from Serum DEX underlying liquidity and matching engine!

    Courtesy of Solanians

    Get Funded 💰

    Solana Labs is actively investing into early projects looking to accelerate the development of the ecosystem. If you feel motivated and are building a great product, don’t hesitate to reach out to Solana.

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    Phantom 👻 Available Everywhere!

    No matter what your favorite browser may be, you can now use Phantom wallet from your extension bar! Spooky!

    Download it here.

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    DeFi Hackathon 🧪 Demo

    Check out the Foresight Markets product demo, a new Solana-based prediction market! Predict and profit, that’s the aim of the game.

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    Serum Pulse 📈

    The team at Serum Pulse has been hard working on delivering new tools and features! Check out the new website here.

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    Anchor: A Framework for Solana ⚓

    Armani Ferrante has put together a list of teams building on Solana with Anchor framework, which is evolving at fast pace! 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. Developers on Serum may also want to check out our Resources and Ideas page.

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    FTX partnering with Pyth Network

    The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions.

    “This is an important and exciting development for the DeFi ecosystem and I look forward to working with the Pyth Network to bridge the gap between traditional finance and the blockchain.” Sam Bankman-Fried, FTX Founder & CEO.

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    Chicago Trading Company (CTC) also partnering with Pyth Network

    “Blockchain is fundamentally altering age-old practices and processes like market data services,” Brett Estell, Global Co-Head of Trading at CTC.

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry Decentralized index protocol for easy diversification and passive earnings

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    July 12, 2021 at 2:43 pm

    Serum Stories #1 — Zeta Markets — From Uni Friends to Hackathon Winners

    “Nothing surpasses the human aspect of building, and when it’s a genuine joy to work with the people alongside you, everything else seems to just fall into place.”

    Welcome to Serum Stories, a new interview series

    Working with the teams building in the Serum ecosystem is always a surreal and awe-inspiring experience. Innovative projects and ambitious, talented people continue to emerge and push the boundaries of what was originally thought possible through their integrations with Serum DEX.

    There are certain teams who demonstrate such burning ambition, clarity of vision, commitment to the community, and individual integrity that we are simply inspired ourselves.

    This week, we’ve had the wonderful opportunity to interview the Zeta Markets team, the Solana Season Hackathon winners and trailblazers who turned heads with their rapid pace of development and innovation in the under-collateralized options space.

    We wanted to share what we’ve learned from the Zeta crew about their personal and strategic accomplishments, their perspectives on the Serum and Solana communities, and what they’ve learned through their journey. It’s an interview and founders’ story for everyone, builder or retailer.

    What’s up Next

    1. — What is Zeta Markets?

    2. — The story behind the team

    3. — Building an awesome community

    4. — What makes it all worth it!

    5. — Choice of L1

    6. — A secret formula

    7. — Words of encouragement to future builders

    Interview

    1. You’ve taken the Solana community, and the wider DeFi community, by storm. Everyone’s watching your team now, especially after you became the winner of the Solana Season Hackathon — and congratulations again, by the way.

    For those who may not be in the loop: What’s your 30 second elevator pitch about who you are and what you’re doing?

    Thanks for that! We are all so super happy to have come away with the win.

    Overall, I’d say Zeta is a protocol bringing the CeFi options trading experience onto DeFi. All the liquidity fragmentation, poor profitability, and prohibitive fees you experience in current DeFi options, we’re looking to solve — all in a composable L1 protocol.

    We’re trying to push the frontier and really bring a friendly, easy to use options experience for everyday traders as well as institutional investors.

    2. You mentioned that the core team — all from Australia — started with just four people, and you were university friends who reconverged and started working together on Zeta? That’s incredible!

    What’s the story behind how you reconnected and began collaborating on this? What is it like working with close friends on an intense project like this?

    Yeah, it’s a crazy story. We’ve all known each other for a long time, and we all got into crypto during 2017, mostly speculating and trading, a few of us were even market-making on both CeFi and DeFi exchanges.

    We’d been talking for ages about building something in crypto though, and after the initial craze had died down, we’d all pursued traditional careers in tech and trading. A while back at the start of the year, we got to talking again about how DeFi Summer was in full swing, and started brainstorming to see how we could make an impact in the space. We looked around at what had been built, and naturally, we got to options; and then we realised we had the perfect team to begin building, and then it was more like, “why aren’t we doing this?”

    This project has really been the perfect storm for us to get to know each other better as mates and show off a little how we’ve levelled up since our university days. It’s great because we’re all so passionate about the space, about what we’re building, and about working with each other. The hours have been intense, and it’s been fairly stressful, but I don’t think anybody’s grown tired of working on it. You learn a tonne about yourself and about starting a project that you wouldn’t otherwise be exposed to in a more conventional workplace.

    3. You’ve built a solid community as well. The communities, whether it’s on Telegram or Discord, look excited, they look fun, and everyone seems so helpful and positive. It’s clear the Zeta Markets team takes community building very seriously.

    What steps did you take to make all of this happen? Is there anything you want to say to your communities right now?

    Shoutout to the ZetArmy! These guys and gals are the main backbone behind Zeta, and we’re huge believers in community-built projects. We’re all just community members ourselves who contribute to the codebase of Zeta — and we couldn’t be more stoked to be surrounded by like-minded, passionate people.

    We think the magic in our community really comes from the fact that there’s a real product and vision, and that everyone is making their own mark on Zeta’s progress. Sheep and Maz, who are our community managers, have been amazing stewards of the growing Zeta family, making sure there’s opportunities for everyone to get involved. And the community has stepped up big-time! Whether its loading-screen visuals, multi-language translations, or alpha product testers, there have been so many people involved in Zeta from day 0.

    We’d like to give a huge thanks to all the people distributed across the globe who’ve joined in for the ride. We love hanging out on Discord, Twitter, and Instagram with absolutely everyone and are so excited that we’re a part of this amazing community.

    4. Would you like to share some of your positive or most favourite experiences in these past few months at Zeta Markets? What would you say makes it all ‘worth it’?

    The whole experience of the Hackathon is still a blur, and still one of the highlights of this whole project. From seeing contributors go full-time on Zeta, to late night sessions debugging the front-end so we could record a trade — we went through a whole bonding experience, and of course the cherry on top is to come out with a win after that!

    Another favourite moment is one that we have seen a few times: it’s the moment where we bring one of our friends onboard to help and we see them fall in love with the project, the mission, and the community. We are extremely fortunate to have some extremely talented people around us who also happen to be our best friends helping build this project.

    Likewise, it’s been such an honour being able to meet some of the best and brightest in the ecosystem. Despite many of them having countless years of trading experience, oftentimes, they are more than happy to give up their precious time to sit down and hash out protocol design or test early alpha demos.

    5. You are all big believers in this idea that crypto derivatives are going to be Defi’s next big opportunity, and of course, one of the key ingredients to creating a performant, decentralised options market is having an underlying Layer 1 technology that is both fast and affordable.

    Besides the technical advantages of Solana as your choice of Layer 1, what other factors (technical and non-technical) do you feel have been important to consider when building a decentralised options protocol and how did they bring you to decide to build on Solana?

    When it comes to building an options DEX, there’s a lot of complexity that might not initially meet the eye. Some of the core aspects that underpin a good options trading platform are the orderbook (for buying and selling options), the margin and liquidation system, the options pricing model, as well as the settlement system.

    From a technical perspective, we came to the conclusion that Solana best suited our needs for building out each of these functionalities due to its inherent performance advantages. For the orderbook, we had the amazing Serum DEX (the only fully on-chain orderbook) at our disposal. For the liquidation system, as you might have guessed, it’s critical to be able to update this in near real-time, otherwise, you can fall into nasty situations where accounts fail to be liquidated and go over-bankrupt, forcing our platform to bail out from an insurance fund.

    Similarly, having situations where prices become unreflective of current market conditions opens the platform up to arbitrage and exploitation. Pyth solves this. By providing price oracle data updated on a per-block (400ms) basis, we can make our platform incredibly responsive (like a CeFi exchange).

    Last of all, settlement of funds upon expiry will take a mere second, a far cry from other chains that otherwise might have you wait upwards of 15 minutes to get your juicy payout.

    The other key technical advantage is that by building on a purely L1 chain, we have the flexibility to compose with any other Solana protocol; for example, we can sell our deltas off to spot platforms like Mango without needing to worry about them being on a compatible scaling solution or side-chain.

    In terms of non-technical considerations, I guess the main objective we are trying to achieve via our platform is to lower the barrier to trade options. We understand that they are inherently complex financial instruments to grok for a non-expert audience. Hence, we put a lot of effort into education, good design, and usability (we think Robinhood has done this incredibly well).

    For us, it’s taking a complex back-end (Solana) and designing simple and intuitive trading experiences without taking away from the utility of the platform (a lot of options implementations we’ve seen in crypto can come off as over-simplified betting markets). Eventually we want to get to a state where the user doesn’t even know (or care) if they’re trading on a blockchain back-end, and we think Solana can get us there with its super-fast speeds and negligible transaction fees.

    6. Do you believe there’s any “secret ingredient” that makes your team what it is today?

    The people! We think that having the right community and the right contributors is what’s really driven our wins so far, and we’re so excited to keep building with everyone who is in the community (and the people that are yet to come)!

    Nothing surpasses the human aspect of building, and when it’s a genuine joy to work with the people alongside you, everything else seems to just fall into place. The passion and genuine enthusiasm of the people beside you is a big motivator, and it starts to not feel like “work” in the traditional sense.

    7. What would you like to say to those out there who are thinking of building something new and exciting, but who maybe aren’t fully certain about the start-up lifestyle, the direction of DeFi, or perhaps the state of the Solana and Serum ecosystems?

    When the idea for Zeta was being hatched, we were all in great, traditional jobs which we loved. Naturally we were unsure about leaving industries we were passionate about for another industry that we were also incredibly passionate about! The turning point was really talking to the builders in the ecosystem, interacting with the existing DeFi communities, and seeing how much genuine support and traction there was for contributors in the space. Crypto is, most of the time, a huge family, and we all realised it was the right choice to jump into the deep end — and none of us have looked back since!

    We think that DeFi summer isn’t over, and the innovation in the space is one of a kind. Regardless of the state of the market, there will be incredible people doing incredible financial engineering day and night. With the help and support of the team at Serum, Solana, Pyth, Mango, and all the other projects who have helped us along the way, we’re excited to keep pushing frontiers with the rest of the space.

    We hope you enjoyed the interview! And a huge thank you to team Zeta Markets for making this happen.

    And there’s more where that came from!

    We would love to continue having these kinds of conversations with all the incredible teams building on Serum and sharing them with you. Just let us know who you want to read about next!

    You can keep up with the Zeta Markets team and development through their Twitter, Discord, Medium, Instagram, and of course, their website.

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    July 14, 2021 at 8:48 am

    Welcome, readers, to Serum Newsletter #34! The excitement continues unabated in the Serum and Solana ecosystems! In this week’s issue, we paraphrase the newest string of headline-catching events in the ecosystem and some sweet updates on, of course, our favourite Serum-oriented projects! Stay tuned, and have a great week!

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.36B in trading volume since inception.

    This week, 53.6K SRM was burned and 13.4K SRM was dropped onto stakers — This is $192k worth at current prices.

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    Sino Global Capital releases Investment 📚 Thesis

    They reflect on Serum’s capabilities for bringing users a full CEX-like experience, with fully on-chain limit orderbooks and matching engine, blazing fast settlement and trading, and low transaction costs to the world at scale.

    The Sino team also do an incredible deep dive on Serum as the core infrastructure powering a financial and service-oriented ecosystem.

    Not financial advice.

    You can check it out at their Medium.

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    Meet the Zeta Markets Team

    We had the wonderful opportunity to interview the team behind Zeta Markets, the Solana Season Hackathon Winners 🏆 building an under-collateralized DeFi options platform on Solana.

    In our new article, we share their team’s perspectives on the Serum and Solana communities and what they’ve learned through their journey.

    This is part of a new interview series called Serum Stories. Which ecosystem project team do you want to read about next? Let us know!

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    The Growth 🌱 of Solana

    Anatoly Yakovenko spoke with Crypto Briefing about the growth of Solana. Listen to the podcast to learn why Solana uses Rust instead of Ethereum’s Solidity, and why the network is prime for exponential growth over the coming years !

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    The Pyth network 📊 Opportunity

    A very insightful thread written by @Mariobern_ about what Pyth network will bring to the DeFi ecosystem.

    “There are 3 elements that distinguish Pyth from others. The first is its use-case and the tech, the second is the partners, and lastly the blockchain it’s built on. These three factors differentiate Pyth more so than any other oracles in the existing crypto market in my view.” Mario Bern

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    Switchboard partners with 🍑 Apricot Finance

    Apricot Finance, a Solana lending protocol, is partnering with Switchboard, an oracle ecosystem also built on Solana. Through this partnership, Switchboard and Apricot will ensure the reliability and security of smart contracts established on the platforms.

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    Aurory Teaser ⚔️

    Are you excited to play Aurory? Watch the trailer for an awesome preview of their game! See if you can catch all the subtle references too.

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    Moët Finance 🥂 AMM Mechanism

    Find out how Moët Finance marries two concepts — the vAMM model pioneered by @perpprotocol and the introduction of an adjustable k value.

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    Download Phantom 👻 Today

    There’s a thrilling chill in the air! The time has come for you to test Phantom wallet! An extension for accessing distributed applications has been deployed on the Solana blockchain.

    Download.

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    Do you like the UX of Phantom? No matter the answer, you have the power now to make it even better!

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry Decentralized index protocol for easy diversification and passive earnings

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    July 19, 2021 at 3:29 pm

    Serum Stories #2 — DeFi Land — The Passion and Thinking Behind a New Game

    “We didn’t want to create just another blockchain game…we wanted to accelerate all of the existing DeFi protocols and platforms and help them reach the retail audience and to make their overall user experience better.”

    Welcome to Serum Stories #2

    Serum’s on-chain infrastructure powers not only a wealth of financial applications, but also supports growing industries like gaming. The introduction of DeFi elements like in-game NFT marketplaces makes possible a whole new world of virtual fun and entertainment.

    This week, we had the incredible chance to speak with the DeFi Land team, the makers of the new agriculture-simulation web-game which aims to gamify decentralized finance to the next level.

    In this installment, we want to share some of the DeFi Land team’s industry insights, best practices, and a bit of their personal backgrounds. It’s always inspiring to see so much thought go into an initiative that positions itself as fun and games.

    What’s up Next

    1. — What is DeFi Land

    2. — Literally DeFi

    3. — Sources of inspiration

    4. — Educating and helping the wider community

    5. — Details matter

    6. — Why Play-to-Earn?

    7. — A future for Play-to-Earn

    8. — Mobile version!

    9. — What makes it all worth it!

    Interview

    1. For those who are not already in the know, what is your 30 second elevator pitch for DeFi Land? What’s your usual introduction to new investors or players?

    So, DeFi Land is an agricultural simulation web game that aims to gamify the experience for decentralized finance. It aggregates different protocols into the same place and adds another layer on top of them, which is basically our game, in order to gamify this DeFi experience for players.

    For example, whenever a player swaps across different assets in our game, they will be actually swapping different tokens on Serum but in a seamless interaction. So, you can think of us like a gamified ‘Zapper’ as well, but we don’t want to be just a gamified Zapper; we want to become a real game which people really enjoy and love to play, complete with animations, cool features, and all these different gamified elements that all games must have. That’s our quick intro and what we basically tell new investors.

    2. There’s been a number of games that are plugging into Serum. People are quite excited about gamified DeFi at the moment. Such games include Aurory, OpenEra, Star Atlas, and Axie Infinity. What’s cool about all these titles is the dedicated lore behind them, the cool worlds you can explore, and gripping narratives.

    DeFi Land is special, however. You guys have gone through this ‘meta route’. Your game not only represents DeFi elements: these elements also perform as literal DeFi. What was the idea behind gamifying DeFi to this level? What kind of audiences do you hope to engage?

    Indeed, there are many games who are trying to gamify DeFi, as you have mentioned, including Star Atlas, OpenEra, and Aurory. There are many other games outside of Solana as well, including Axie Infinity and many others. You can say there’s basically two types of games: one type is those that do not make sense to even put on the blockchain — and we don’t want to be in that category for sure. The second type includes those other games that you mentioned, and what they’re doing is that they are creating their own new ecosystems for their games.

    Having just another game on the blockchain does not really help adoption of the blockchain and DeFi. Likewise, we didn’t want to create just another blockchain game. Instead, we wanted to accelerate all of the existing DeFi protocols and platforms and help them reach the retail audience and to make their overall user experience better. That’s why we’re gathering all these different protocols and outsourcing their user experience to our platform. We think that there is a huge gap to be improved, user experience-wise, so that’s why we kind of came up with this gamification idea.

    Our main goal is spread across two planned game versions, our V1 and V2. In our V1, we want to capture all the basic functionalities of DeFi and ‘pitch’ them to players who may have tried DeFi at least once and give them a new user experience for them to learn and try out all the different features. We want players to realize that it’s pretty easy to use DeFi — that it’s not as complex as it seems. In other words, our main goal is to make Solana and DeFi mainstream.

    3. Sounds like your team has put a lot of thought into it! And we love how DeFi Land takes inspiration from other projects and tries to appeal to a wide audience.

    That being said, what specific games influenced the diverse set of game modes you have planned?

    The founders and the whole team — we’ve been really big gamers since our childhoods. We’ve all spent many hours just playing different video games, ranging from mobile games, web games, and more ‘complex’ video games on PC. We have been influenced by each of them, as games are a really important part of our lives. And we have experience in building games as well.

    The inspiration behind DeFi Land was, of course, farming games such as Farmville or Animal Crossing and many others. Basically, we always thought that DeFi was kind of about farming — farming yield, or farming for assets just like in these farming games. So that was our inspiration. And once we found out that there are really good games coming out on the blockchain, we thought that creating this kind of gamified Zapper with a farming-style simulation framework would make a lot of sense. So that’s the whole background behind the path we took.

    4. What you’re building in DeFi Land seems especially concentrated on educating a wide range of potential or current DeFi users. That’s wonderful.

    Could you go into further detail about the educational design of DeFi Land? Will your project have other ways of connecting with and helping out the wider DeFi community?

    Yes, as I mentioned, in our V1, we want to approach users who are already using DeFi in order to get their thoughts and feedback from them. We want to find out what they like, what they hate, and accordingly, learn how to get these people interested in our game. And once we’ve found the ‘market fit’, that’s where we’ll start approaching and targeting retail users.

    Our idea is, for sure, to get retail users to start using DeFi and learn about all the benefits behind DeFi. To achieve this, we have this educational mode in our game. It’s a kind of practice mode for first time users who don’t know anything about DeFi. Or, let’s say that I know some things about DeFi and I want to learn more details: in DeFi Land, I can try and test some different strategies in a simulative environment. People will be able to play the guided version of our game and be introduced to each of the DeFi features such as how wallets work, what is impermanent loss, and other core topics..

    We’re paying very close attention to in-game details, from the music to the NFTs, even on our in-game quizzes. For example, if you pass a quiz, you will be rewarded with a special NFT which will be an in-game object that can affect gameplay. There will also be options for advanced gamemodes, like an advanced tutorial if you become more interested in specific aspects of DeFi.

    We ultimately want to create a solid, unique and engaging experience for new users to make them interested in DeFi and allow them to learn and use it. We want to convert retail users from the ‘non-crypto’ stage into power users of DeFi. There are many ways to do this. It’s also important to target student segments who want to learn about the blockchain and need a really easy way to learn.

    5. You’ve mentioned in a past conversation some special features and artistic choices such as rainy or sunny in-game weather depending on real world market conditions.

    Would you like to go further into some of the in-game details which you believe will make your game unique?

    We don’t want to be just an aggregator of different protocols, but we want our users to enjoy playing our game. What will make DeFi Land really stand out is the attention to detail which makes the player’s journey unique, memorable, and an overall joyful experience. Someone might say, “Oh, such details are not a big deal”, but in actuality, they make a world of difference.

    As you have mentioned, there’s going to be several of such details (which are ultimately optional). There will be, for example, day and night cycles depending on the player’s timezone. Another favorite of ours is the in-game weather which will depend on several factors such as the real world’s market condition, so that whenever your asset prices are declining, there will be rainy weather and sad music, or whenever the market is really pumping, everything will be greener, and the weather will be really shiny with cheerful music.

    We’re creating our own music as well: we have our composers and musicians who are writing the soundtrack. DeFi Land will have a diverse collection of background music as well as unique in-game sounds and animations. Another cool feature will be the in-game radio station, where players can tune to different channels and choose between, for example, lo-fi music or jazz music or whatever they want.

    Furthermore, all of the game objects will be tradable NFTs which are available through our in-game app store. People will be able to customize their lands through the marketplace; so basically, we’re giving our users ownership of their assets, which will be tradable and carry different values. All the different assets will have their unique features as well; for example, certain buildings will give you additional yields on farming or a chance to receive mystery boxes with randomized prizes like DFL tokens.

    There’s a bunch of features planned, and we don’t want to spoil everything right now, but one last feature we’ll reveal today are the in-game pets. Players can own pets and interact with them. For example, if you pat them on their head, you will receive XP. Overall, the more you interact with different elements in the game, the more you will earn and discover.

    6. We love the idea of the weather changing depending on real markets. It’s a really cool idea for immersing the user into DeFi.

    You also mentioned that you’re deploying a play-to-earn model. What motivated that specific choice?

    Since the beginning, we saw the play-to-earn model as crucial for our game. Towards the beginning of our development, we saw Axie Infinity become this really big thing. Watching their success, we confirmed for ourselves that for a game to not only survive but also deliver a good player experience, it must have a play-to-earn model to get players to become more active, engage more, and spend more time in the game.

    The way we’re going about it is, DeFi Land will have many tasks and accompanying achievements for players, and once a player achieves these tasks, they’re going to receive prizes which can include our DFL tokens, NFTs, or mystery boxes. There’s going to be levels and XP in our game as well. People will be able to level up and aim for leaderboard positions. Showing off is important too. Players will be able to visit their friends’ lands and even leave messages. All of this is planned for our V1.

    We also have many planned activities such as trading tournaments, yield farming competitions, and mini-games where people can compete with each other. Players will have the chance to receive prizes daily. We’re also planning a battle mode as well — something in the style of Clash of Clans where players can attack other players’ lands and steal their crops and assets. So if you choose to make a ‘battle account’, you transfer your funds to this account and start participating in guilds and battles.

    So in summary, we want to have all these different features which are common in traditional games and combine them in a play-to-earn model to gamify the DeFi experience for everyone. We were definitely inspired by Axie Infinity and other games which we believe will only get bigger and bigger as time goes by.

    6. Speaking of Axie Infinity, could you comment about your general thoughts about their success and what your team is learning from them?

    So, all of our team members — including our designers and our developers — are playing a number of blockchain-based games, including Axie, to get the idea of what’s done right and what can be improved on. We always try to learn from the success and mistakes of other projects.

    From what we have seen in the past in general, there are so many different things we want to improve on, whether it’s scaling issues, improving animations, or improving user interfaces like ensuring proper support for different resolutions across devices. But for sure, what games like Axie Infinity are doing really well is creating a really good in-game economy.

    And one more thing to add: in our view, blockchain gaming shares strong parallels with trends from the early 2000’s, such as when Facebook was becoming popular and many games like Farmville were launching on their platform. You could say that DeFi Land is positioned to be the next Farmville, except this time, it’s launching on a blockchain platform. We see a similar potential to many new blockchain games in parallel with the success of early web games. We’re all witnessing a new trend that is going to become the next new big thing in several years. Maybe even bigger than web games have become so far.

    7. What’s your view of the future of play-to-earn for these blockchain-based games? For example, with games like Axie Infinity, there are a number of people in certain regions who are actually earning more by playing the game than they could from their regular jobs.

    Do you have any view on this trend going forward? Do you see, for example, people really making a living through these economies?

    We believe that play-to-earn is going to be a kind of full-time job for different people. Today in many countries, the minimum wage can be way lower than the average level of profitability from such games.

    We believe that we can bring that to our game as well. Once we transition to our V2 and deploy all the features discussed earlier such as battle modes, competitions, and tournaments with guilds, we hope to become equally (if not more) popular than Axie Infinity.

    We have a pretty unique concept and so many game features, resulting in a more open experience than ‘the competition’: Defi Land is not too broad as, say, a sandbox game, and easy to pick up. We really believe in our play-to-earn model and, accordingly, foresee DeFi Land as enabling a lot of people to earn money, on top of having fun and learning more about the possibilities of DeFi.

    8. You’re building a web-version of DeFi Land for now. Will there be plans for a mobile version? Do you think mobile is going to take over and be the dominant platform at some point?

    We have previously built mobile games as well as web games, so creating a mobile version is for sure on our road map. We’re really working hard on that, so hopefully, we will have our mobile version in 2022.

    We really believe that mobile gaming will take over the PC gaming — not with multi-multiplayer games like League of Legends or Counter Strike or other team games, but mostly, with games that are ‘easy to play’ with your fingers. So yeah, we’re looking to get into mobile in the future.

    9. Would you like to share some of your positive or most favourite experiences so far as (game) builders? What would you say makes it all ‘worth it’?

    There are many different things that have made our experience really great and fun. Developing the game itself and even working with the blockchain itself is pretty fun. In our team, everyone is good friends, so we have really good conversations. That’s why we’re able to work like 15 hours a day. Everyone just wants to be there.

    And also, all the feedback we’re receiving from the community, whether it’s Twitter, Discord, Telegram — everything makes us even more motivated. We also want to thank all the people who continue to give us great ideas and help grow the game by sharing with us what they want to see.

    We’re also thankful for all the support from our supporters, investors, and the Serum team as well. Everyone’s really feeling the momentum! People really see the potential behind our idea as a one-of-a-kind idea for the blockchain and DeFi. We are really pumped. As time goes, we have become more and more confident in our vision and execution.

    Another thing that I want to emphasize: everyday in our team, we hold, at the end of the day, a 15-minute brainstorm session with a whiteboard and go through all the comments we received on Twitter or Discord or Telegram. We write everything down on the whiteboard and identify what we love and what we find really exciting, alongside our own ideas. Having this kind of brainstorming session everyday is pretty unique and is one of the really amazing things that I think any team could experience!

    We hope you enjoyed the interview! And a huge thank you to DeFi Land for making this happen.

    And there’s more where that came from!

    We would love to continue having these kinds of conversations with all the incredible teams building on Serum and sharing them with you. Just let us know who you want to read about next!

    You can keep up with the DeFi Land team and development through their Twitter, Discord, Telegram, Medium, and of course, their website.

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    July 21, 2021 at 8:05 am

    Welcome, readers, to Serum Newsletter #35! The fun never ends in Serum and Solana land! As always, there’s tons of updates to cover. We’ll give you a run-through of some of the most exciting and headline-grabbing events, as well as some content we’ve found especially educational.

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.45B in trading volume since inception.

    This week, 58.6K SRM was burned and 14.6K SRM was dropped onto stakers — This is $179k worth at current prices.

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    Project Serum Ecosystem ⚗️

    Explore the rapidly growing Serum ecosystem through our new infographic. New projects are coming live seemingly everyday, all powered by the infrastructure of the Serum DEX. The current infographic is not exhaustive and there’s more where that came from!

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    Meet the DeFi Land 🚜 Team

    This week, we had the incredible opportunity to speak with the DeFi Land team, the makers of the new agriculture-simulation web-game which aims to gamify decentralized finance to the next level. Are you ready to play-to-earn?

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    Phantom raises $9 million 💰

    Congratulations to @Phantom for raising a $9M Series A investment from reputable investors such as Andreessen Horowitz Variant, Jump Capital, DeFi Alliance, and the Solana Foundation.

    Phantom is the crypto wallet we’ve always wanted to use — a modern product that makes doing stuff with your crypto an enjoyable experience.

    Now millions of people globally can easily onboard into the ecosystem.

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    Stake SRM as collateral

    Looking for additional yield? 🦜 Go to ParrotFi to mint $PAI using your $SRM.

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    Mango Markets Deposits 🥭

    You can currently enjoy 24% APY for lending your SRM on Mango Markets.

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    Trading Strategy 🤖 using Project Serum

    Learn how to automate a Trading View trading strategy on Serum thanks to Bonfida Bot!

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    Pyth Network partners with 🍑 Apricot Finance

    Apricot Finance is pleased to announce its partnership with Pyth, the latest innovative company for connecting high-fidelity market data anywhere. This collaboration will allow Apricot Finance to gain access to real-time data from real-world markets.

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    Pyth Network partners with Akuna Capital 📈

    “As a leader in developing cutting-edge technology, we believe in the power of DeFi and this next-gen oracle solution that leverages DeFi to distribute precise, real-time market data on a sub-second timescale. We are honored to join the likes of experienced trading firms like Jump, GTS and Virtu as we shape the future of finance and trading together.” John Harris, CEO, Akuna Digital Assets.

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry Decentralized index protocol for easy diversification and passive earnings

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    July 26, 2021 at 3:47 pm

    Serum Stories #3 — The Team Behind Smarter Liquidity

    “I think the promise of a more decentralized, dynamic financial system is what ultimately inspired us at a core level…Our thinking was, ‘let’s take two of the most innovative, capital efficient ways to trade assets and bring them together via one platform’…”

    Welcome to Serum Stories #3

    Talk of Serum goes hand in hand with talk of liquidity. The Serum DEX turned heads when it announced to the world the benefits of its completely on-chain order book and matching engine. This design choice doesn’t symbolize an inherent conflict with the AMM model. In fact, Serum enables new AMM models that bring the best of both worlds.

    This week, we’re joined by Daniel and Shardul from Cyclos, a new AMM solution bringing concentrated liquidity to Solana with the help of Serum. The Cyclos team shared with us their vision, and for Cyclos, their founding story and Hackathon tales, and their heartfelt message for the Serum and Solana community.

    What’s up Next

    1. — What is Cyclos

    2. — The founding story

    3. — The reason for building in DeFi

    4. — Smart liquidity?

    5. — Product vision

    6. — What makes it all worth it!

    Interview

    1. For those who are not already in the know, what is your 30 second elevator pitch for Cyclos? What’s your usual introduction to new investors or players?

    Cyclos is a concentrated liquidity market maker platform built on Solana. On Cyclos, liquidity providers bind their assets to price ranges of their own choosing via Cyclos’ frontend interface. These individual price ranges are then aggregated and correspondingly placed onto Serum’s order books. Liquidity is evenly distributed between ticks falling within the price range of the LP position. Trades are then executed against the combined liquidity of all individual curves. Profits are earned from the bid-ask spread and maker rebates.

    2. Some might consider Cyclos new to the scene. You first appeared on Twitter in May and caught serious attention when you were awarded 1st place by Kin Ecosystem in their Solana Hackathon track as well as securing a winning spot in the India track! Congratulations!

    What’s the story behind your team and founding? What was it like competing in the Solana Season Hackathon?

    Thanks! For a bit of context, Cyclos itself is a new project, but our involvement in crypto extends back to 2017. Regardless, the Solana Hackathon was a fantastic way to jump into the ecosystem as project founders. We managed to connect with so many helpful individuals and institutions alike who’ve offered tremendous support for the project, and so we’re extremely grateful for the recognition we received as a result of our participation in that process. Furthermore, we’re just really proud to be a part of what we consider to be an extremely innovative wave of Solana projects that are bringing much needed, fresh talent, and thought leadership to the space.

    As for the way our team came together, we are very much a product of the current times. Shardul and I actually met online, and after some time corresponding, realized not only did we have a great product to build, but our combined expertise in our respective fields was extremely complimentary. We decided the Hackathon was a great way to launch Cyclos into the public sphere, and decided to go all in.

    3. So you mentioned you have all been building in Web3 for a while now! What specifically inspired you to want to build in DeFi?

    I think the promise of a more decentralized, dynamic financial system is what ultimately inspired us at a core level. It might sound cliché but it’s why we are here. With the emergence of DAO-based financial networks, we are witnessing the emergence of a new model for organizing and growing wealth. We are super keen to be a part of that journey and make our own mark on its evolution.

    When it comes specifically to Cyclos, there were a number of factors involved. I think both of our backgrounds afforded us the luxury of both a high level perspective of the DeFi sphere, while simultaneously allowing us to dive into specific products and solutions we found particularly useful for solving existing problems in the market. This is how we ultimately landed on the idea of building a concentrated liquidity market maker for order books. Our thinking was, “let’s take two of the most innovative, capital efficient ways to trade assets and bring them together via one platform.”

    4. There’s been an ongoing debate about Automated Market Makers and the opportunities and challenges they present for decentralised finance. You mentioned that Cyclos seeks to solve some of the challenges by bringing what you call ‘Smart’ liquidity to the AMM space on Solana.

    For the readers who aren’t familiar with new developments in DeFi, how would you explain what it means to have ‘Smart’ Liquidity in Defi and how does Cyclos tackle this issue specifically?

    Very good question. Because of throughput issues on ETH, the evolution of central limit order book solutions didn’t get proper attention until more recently. We are very strong in our conviction that CLOBs are fundamentally more efficient they are able to match all bids and offers according to order price and time priority, compared to algorithmic (x * y = k) based AMMs. While Serum has addressed the throughput problem which beset previous attempts at order book-based trading, liquidity nonetheless remains an issue. This is where Cyclos fits into the picture. Other AMMs providing liquidity to Serum are still following the same 0 to infinity liquidity curve model when placing orders onto the books. Our vision is to, instead, give LPs a means and incentive to distribute depth where it’s needed on the order book. Cyclos effectively incentivizes LPs to place their assets strategically to maximize that yield, which in turn provides traders much more depth.

    We use the word “smart” to describe liquidity on Cyclos, as we harness the power of game theory to distribute depth across the price curve. Liquidity providers are choosing the price ranges where they want to deploy their capital, meaning the intelligence of the market is reflected along each asset’s price depth. As prices fluctuate, traders reposition that capital accordingly. To us, letting LPs position their capital on the books where it’s needed is “smart”.

    5. You mentioned you will be focused on both ecosystem composability and your own frontend user experience. What are your plans for the product and how do you see it evolving with the industry?

    We plan to integrate interfaces with our partner projects so that users can benefit from our liquidity without leaving our partner projects’ products. Our overarching partnership strategy is all about finding ways we can leverage our solution to the benefit of other platforms, and as a result, increase our overall volume.

    6. Would you like to share some of your positive or most favourite experiences so far as builders? What would you say makes it all ‘worth it’?

    The tremendous support we have received despite the uncertainty of the market has been an incredibly positive experience. We feel blessed to have such strong backers and supporters.

    While we are out to build a killer product regardless of the circumstances, there is something special about having so many talented people contribute value to the project that makes the end result much bigger than the team itself.

    We hope you enjoyed the interview!

    We would love to continue having these kinds of conversations with all the incredible teams building on Serum and sharing them with you. Just let us know who you want to read about next!

    You can keep up with the Cyclos team and development through their Twitter, Telegram, Discord, Medium, and of course, their website.

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    July 28, 2021 at 10:19 am

    Welcome, readers, to Serum Newsletter #36! The fun never ends in Serum and Solana land! As always, there’s tons of updates to cover. We’ll give you a run-through of some of the most exciting and headline-grabbing events, as well as some content we’ve found especially educational.

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.61B in trading volume since inception.

    This week, 61.2K SRM was burned and 15.3K SRM was dropped onto stakers — This is $239k worth at current prices.

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    Meet the Cyclos Team 🎙️

    This week, we’re joined by Daniel and Shardul from Cyclos, a new AMM solution bringing concentrated liquidity to Solana with the help of Serum. The Cyclos team shared with us their vision, and for Cyclos, their founding story and Hackathon tales.

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    Zeta Competition 🏆

    Here’s your chance to compete against the best traders on Zeta Markets’ latest Alpha Product for binary options! Winners will have the chance to win limited edition Zeta trading cards.

    To register: https://zeta.markets/#/competition-form

    Registration ends July 30th at 23:59 UTC.

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    Mango Markets New Risk Calculator 🧮

    It’s always good to have a plan before entering a trade.

    Mango Markets helps you do just that. The Risk Calculator helps estimate liquidation scenarios on leveraged positions.

    You can watch a comprehensive video tutorial that covers everything from creating and funding your sollet.io wallet to trading and lending on Mango Markets exchange!

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    Saber Labs Up Only 📈

    Saber, a cross-chain stablecoin and wrapped assets exchange on Solana, just crossed over 100 million in Total Value Locked (TVL), an impressive achievement considering that Saber pools were launched only two weeks ago. We look forward to watching Saber’s growth!

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    Saber Labs also raised 7.7 million 💰

    The round was led by Race Capital, with participation from Chamath Palihapitiya’s Social Capital, Jump Capital, Multicoin Capital, and the Solana Foundation. Angel investors, including OKcoin’s Jason Lau, Curve Finance’s Julien Bouteloup, Terraform Labs’ Jeff Kuan, and Stacks’ Ryan Shea, also participated in the round.

    Saber is the third largest app on Solana, only behind @ProjectSerum and @RaydiumProtocol.

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    DeFi Land Art Contest 🎨

    There’s a lot of anticipation for DeFi Land, the new Play-to-Earn agriculture-simulation web-game which gamifies DeFi. Players waiting to test the game are also welcome to participate in DeFi Land’s art contest!

    Deadline for submissions: 23:59 EST, 1st of August.

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    MultiCoin Capital X Project Serum

    There was a full-house at the blockchain conference in Hangzhou China, featuring Project Serum and many others. We would like to thank Multicoin Capital for this wonderful and insightful event!

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    Apricot Finance partners with GoPartyParrot

    Parrot Protocol is a DeFi network built on Solana that accepts cross-chain LP tokens as collaterals to mint its stablecoin $PAI. The Parrot protocol is set to make the value locked in cross-chain LP tokens accessible on Solana.

    Under this partnership, Apricot’s users will be able to supply PAI as a valid collateral. In addition, users can borrow various assets such as USDT, USDC, SOL to mint PAI, and earn extra rewards from both Apricot and Parrot when they do so.

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    Pyth network partners with IEX Cloud

    IEX Cloud, the independent financial data delivery platform owned by IEX Group, Inc., announced that it has joined the Pyth network, the Pyth network, a next generation oracle solution that will provide trusted and verifiable market data to the next generation of decentralized applications.

    “IEX Cloud’s mission is to improve access to trustworthy financial market data and so we’re excited to be part of such an ambitious project by providing real-time market data to the blockchain,” Tim Baker, Head of IEX Cloud.

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    Pyth network partners with Everlend Finance

    “Thanks to Wormhole, Everlend will have the ability to add assets from other chains like Ethereum, which will make it easier to attract newcomers and investors from other blockchains. At launch Everlend will support several Solana native assets and a couple of wrapped native Ethereum assets. Our smart contracts for each one will be secured by customized price feeds powered by Pyth Network.” Everlend Team

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @phantom wallet to interact with the ecosystem

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry decentralized index protocol for easy diversification and passive earnings

    @Saber_HQ a cross-chain stablecoin and wrapped assets exchange on Solana

    @gopartyparrot a liquidity network for lending & borrowing on Solana

    @StepFinance_ visualise, analyse, execute and aggregate transactions across all Solana contracts in one place

    @Solfarmio the efficient Solana yield aggregator

    @offpiste_io powering the new frontier of the private capital markets

    @slope_finance building the decentralized exchange for communities

    @cyclosfi the first AMM bringing concentrated liquidity to Solana

    @LiqProtocol decentralized on-chain liquidation engine powering Project Serum markets & lending platforms on Solana

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

  • solbot

    Member
    July 30, 2021 at 4:37 am

    The path to scale, adoption and speed — continued

    Project Serum has attracted considerable traction and built a passionate and excited ecosystem while generating >$5.5B in trading volume since its inception in September 2020.

    Serum has accomplished important milestones in less than a year. The Serum DEX has proven its capability not only as a fast, cheap and intuitive exchange, but also as a keystone financial primitive powering an entire ecosystem of financial and other real-world services.

    Serum DEX’s on-chain central limit order book and matching engine provides liquidity and price-time-priority matching to traders and composing projects. Protocol fees flow back to Serum and accrue as value to SRM holders. Because DeFi allows for these partner projects to also compose with each other, the resultant synergistic value positions Serum as (1) the go-to trading portal and financial ecosystem for the wider Solana environment and (2) the candidate for an on-chain ecosystem capable of servicing 1 billion users and $10 trillion of on-chain value — a symbolic and ambitious milestone.

    Serum’s ultimate milestone has never changed. On the other hand, the means towards reaching this goal have shifted. These changes are in response to feedback from users, institutional clients, and ecosystem partners trading, composing or indirectly integrating with Serum’s CLOB. Such changes are natural for a young ecosystem and blockchain.

    Below is an overview of Serum’s progress in the past year followed by the new roadmap milestones. These milestones may once again change in order to better accommodate Serum’s ecosystem projects and meet the needs of the DeFi and ‘real-world’ communities.

    Accomplishments

    Phase One

    • SRM was launched in August of 2020 on major exchanges.
    • The on-chain DEX proved capable of ultra fast settlement, extremely cheap gas fees, and spot trading.
    • Major market makers have provided liquidity since day one.

    Phase Two

    • Solana cross-chain bridge.
    • An active wallet ecosystem emerged thanks to concentrated efforts on sollet.io wallet and, more recently, Phantom wallet (inspired by the former).

    A diverse GUI ecosystem also emerged. In the spirit of DeFi, participants are invited to compose with Serum DEX and host their own GUIs along with specialized ancillary features to create an enriched trading experience. Bonfida is a prime example.

    The EcoSerum Grants program was initiated to incentivize and incubate promising projects which are building on Serum or otherwise contribute to the ecosystem, development of the DEX, and the Serum and Solana communities.

    To further attract and inspire developers to build on Serum, a number of public resources were set up in the Project Serum GitHub repository, including:

    • Anchor, a framework for Solana’s Sealevel runtime which provides several convenient developer tools which create a much easier experience for new builders on Serum.
    • A list of popularly requested Project Ideas with accompanying bounties.
    • Serum Swap as a codebase for others to build on.

    Phase Three — Where Serum is Now

    Serum is a proven exchange and liquidity provider for a dApp ecosystem that benefits from the on-chain CLOB and matching engine. We are currently on Serum DEX V3, launched in the beginning of March, which greatly reduces dependency on the request queue and ensures that the order books are always up to date.

    For the past year, those working with Serum have also released:

    • A new Serum Swap program that is built directly on the Serum orderbook (and is not an AMM). The program is an educational resource and starting point for people who want to write Solana programs to compose with Serum DEX.
    • A staking program accessible via web page where users can stake SRM on-chain for yield (locked and unlocked).
    • A multisig which will be used to govern program and IDL upgrades for Serum Programs, including the multisig itself.
    • Improvements to the sollet.io wallet, including a new sollet.io Chrome extension. The Swap (or ‘convert’) feature was added to sollet.io, allowing users to swap directly on Serum DEX. Developers can also host the Swap and receive a portion of all fees.
    • TradingView charts were added on dex.projectserum.com to create a more immersive and intuitive trading experience.

    Achieved stats:

    • $5.51B of volume since inception
    • Regular $100M+ in daily volume
    • 969 Serum V3 markets as of June
    • Serum books are as thick or thicker than Binance or Huobi

    What’s Next

    Our ultimate vision for Serum hasn’t changed: we want to gear DeFi up for mainstream adoption by building the infrastructure needed to support trillion dollar industries with billions of users. We still have a ways to go, but for reasons you are probably well aware of: Serum remains a primary contender for the ecosystem most likely to achieve this.

    What do we need to get there? Over this last year, we’ve been blown away by the growth and achievements of the Solana and Serum communities. Going forward, we want to double down on empowering projects and teams involved in the Serum ecosystem to do as much as they can.

    In many industries, the idea that collaboration between participants will propel their space forward can feel like an empty aphorism. In ours, however, it’s clearly true. Projects can see huge gains by sharing CLOB-based liquidity, by building and composing on the same shared programs, and by developing the decentralized services we suspect will be necessary for future projects, including those we haven’t thought of yet.

    To that end, we are partnering with other ecosystem participants to roll out DEX upgrades, introduce new financial primitives to the Serum ecosystem, and reduce the barrier to entry for getting a Serum project up and running.

    Here they are:

    Direct Serum DEX upgrades:

    • Options for reduced fees; to be used in, for instance, stablecoin <> stablecoin markets: available for teams that are building stableswap protocols that compose with Serum
    • Permissioned markets: the ability to restrict which accounts can trade on a market
    • Automatic settlement using associated token accounts

    Derivatives on Serum:

    • Perpetual future products: 2022Q1–2022Q2
    • Borrow-lending, with support for a wide swath of collateral tokens: 2021Q4–2022Q1
    • Spot margin: 2022Q1–2022Q2

    Decentralization:

    • Decentralized cranking coordination so that new projects can avail of existing crank services
    • Fully decentralized Serum buy and burn

    EcoSerum grants:

    • Scaling up grantmaking
    • Decentralizing the grantmaking progress

    Institutional access, liquidity providing:

    • Building out standardized API interfaces to the Serum DEX and projects in the Serum Ecosystem, supporting REST, websocket, and FIX access
    • Onboarding CeFi partners
    • Market maker incentive programs, including for use by new projects composing with existing markets
    • Optimizing RPC server performance for common DEX operations

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    July 30, 2021 at 4:45 am

    Serum has come a long way since its founding in 2020. In less than a year, we have fostered a thriving and growing community of developers who share our vision. At the heart of our ecosystem is the SRM utility and governance token which accrues value for holders through protocol fees that go to regular token burns.

    The first batch of SRM unlocks is approaching and SRM holders have expressed pertinent feedback and questions. The Serum Team Lockup Agreement continues to play a critical role for SRM’s strategic direction and value capture.

    To summarize: The original members of the Serum Team and a number of investors have committed to furthering the lockups and reducing the sale of team SRM tokens beyond the scope of the simple 7-year schedule.

    Many SRM supporters will remember that the original members of the Serum team have all agreed to the following the following conditions back in November 2020:

    • For the next 7 years, the team members will aggregate their SRM actions in a pool
    • The team members will vote on how the pool behaves
    • As a general guideline: if the pool does decide to liquidate SRM, it will likely limit itself to small single digits of its total size each year for the first few years at least — in the end, this process is controlled by governance
    • Any buying/selling will be pro-rata for all the participants in the pool
    • This covers every original team member (and has been agreed to by each member)

    Tokenomics Structure

    Year 1

    As you know, just 10% of all SRM were unlocked for the first year (with 825m tokens reserved for building out the Serum ecosystem staking rewards). This included 6m tokens that were sold in the IEO and 169m tokens that were made available for liquidity (of which 44m is currently in circulation and 125m is reserved for further liquidity provision and is not circulating).

    In response to feedback from the community, we sought to manage the circulating supply in line with demand, and we worked with liquidity providers to lock up 125m of the tokens allocated for liquidity provision with the standard 1–7 year lockup. This effectively reduced the circulating supply to the 50 million tokens today and accounts for all tokens available either on exchanges and non-custodial wallets.

    In addition, 825m unlocked tokens were set aside for ecosystem incentives for SRM holders and Serum users, including staking rewards and grants. These tokens are still controlled by the foundation for distribution in future years.

    Year 2 and onwards

    When we drafted plans for Serum, we were mindful of the pace of the industry and set out to ensure our product had the best chance to withstand its cycles. This meant designing incentives and tokenomics that would extend far enough into the future, but also close enough to muster support from our ecosystem partners. 7 years is an eternity in crypto, but the truth is, this is still only the beginning. We expect the road to 1 billion users (and beyond) to be a longer journey than many realise.

    As you know, over the next 6 years, 90% of the remaining tokens will unlock linearly in equal proportions (starting August 11, 2021 at 12:00 AM UTC) under the same schedule. We expect a very small percentage of these tokens to actually enter the circulating supply.

    You may recall the following:

    • Only 4% of tokens were sold to private sale investors
    • Team tokens are controlled by governance
    • Circulating supply is closely managed by the foundation

    This means that despite the unlock schedule, circulating supply may not necessarily change in a meaningful way. We expect in future upgrades that many decisions by the foundation, including those related to circulating supply, will be made via governance and look forward to building out those systems in due course.

    SRM (Revisited)

    SRM tokens are the backbone of the Serum ecosystem. SRM is native to SPL and cross-listed as ERC-20.

    SRM has proven popular due to its utility: SRM holders can enjoy reduced fees on Serum.

    The fees on trades are (taker / maker):

    • Hold < 100 SRM: 22bps / -3bps
    • 100 SRM: 20bps / -3bps
    • 1,000 SRM: 18bps / -3bps
    • 10,000 SRM: 16 bps / -3bps
    • 100,000 SRM: 14 bps / -3bps
    • 1m SRM: 12 bps / -3bps
    • 1 MSRM: 10bps / -5bps

    SRM staking rewards prove extremely popular. Staking is available at stake.projectserum.com as well as FTX and AscendEX. SRM staking rewards come from DEX trading fees: one part of fees go towards buy and burn, and the other part goes towards staking rewards. The Serum Docs offer a helpful staking guide.

    SRM holders benefit from 100% of Serum’s net fees through the buy and burn mechanism. In terms of breakdown: 10% of net fees go to nodes as staking rewards; 20% go to hosting activity; 2% go to ecoSerum and the remaining 68% go to SRM and buy and burn. SRM is burned virtually every week, removing the supply from the open market.

    Last, but not least, Serum is anticipated to have specialized on-chain governance. It will be responsible for setting certain important parameters (such as fees) without having the ability to take actions that would cripple Serum.

    Next Steps for Serum and SRM

    There’s a lot in terms of next steps lined up which will be shared in due course. To give a preview of next actions:

    • Direct Serum DEX upgrades
    • Derivatives on Serum
    • Decentralization
    • EcoSerum grants
    • Institutional access and liquidity providing

    We will keep you posted about these updates.

    We remain proud of the design of the SRM token. As you know, the long-term lockup ensures that all major contributors to the product — the team, partners, VCs, and early supporters — are dedicated to the long-term success of the Serum ecosystem and SRM token.

    We can’t wait to share with you further plans for what’s coming to the Serum ecosystem over the medium and long-term. In the meanwhile, thank you for all your support and feedback.

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    August 2, 2021 at 6:36 pm

    Serum Stories #4 — Raydium — A Breakthrough in the Solana Ecosystem

    As a builder, everything really comes together when you see that you have solved a real world problem and that you’ve made positive impacts on peoples’ lives.

    Welcome to Serum Stories #4

    Serum and Solana are really starting to hit their stride. This year has been prolific for both ecosystems, to say the least. One application that has especially turned heads since its launch is Raydium — the established hybrid AMM solution which brings concentrated liquidity to Solana through the help of Serum’s central orderbook. Raydium demonstrates the synergistic power behind composability by showing how automated market makers can compose directly with Serum’s to neatly address the shortcomings of the traditional AMM model.

    This week, we’re joined by AlphaRay, founder of Raydium. In this week’s installment, the Raydium team shares with us their vision, their advice for new teams, their most memorable experiences, and even some of the most exciting developments on their roadmap.

    What’s up Next

    1. — What is Raydium?

    2. — The founding story

    3. — Building from scratch

    4. — Sharing liquidity with Serum

    5. — Advice for new founders

    6. — Product vision

    7. — What makes it all worth it!

    Interview

    1. You’re one of the Serum ecosystem veterans, but for those who don’t know you, what is your 30 second elevator pitch for Raydium?

    Is there anything different now compared to how you would have described Raydium when you launched?

    Raydium is the on-ramp to the Solana ecosystem: we bridge great projects to an amazing community. To users, it’s where you go to swap, earn yields, and participate in the IDOs of your favourite projects. To projects, it’s a fundraising platform, market maker, and exchange all rolled into one package.

    We didn’t launch with the full suite of products, but this is really how we imagined it to be. The difference between then and now is that at the beginning, we rushed out of the gates blazing and trying to make a name for ourselves. As we’ve grown, we’ve also matured and realized the trust our community has put in us, as well as the responsibility we have towards growing the greater Solana ecosystem.

    2. The Raydium team has a ton of experience in high frequency trading across traditional and cryptocurrency markets.

    What can you share about the story behind your founding and why did you choose to build in DeFi?

    We’ve been traders for many years ourselves. We first got into DeFi in the late spring of 2020. We participated in tons of DeFi projects over the course of that summer by swapping, providing liquidity, borrowing and lending, yield farming, and participating in governance.

    We loved it. The energy behind communities talking about governance proposals and projects making important financial tools available to everyone was mesmerizing. But the cracks started showing, and by September, Ethereum was unusable for the average person. Fees and wait times were through the roof, so we figured there had to be a better solution. We looked around the market and had a chat with the Serum team. They explained their vision for the future and we could just see the stars aligning as well as the need for Raydium.

    3. The DeFi ecosystem on Solana has grown a lot in a short period of time and Raydium was one of the first applications to really capture the minds of the Solana ecosystem.

    What were some of the challenges of ‘being first’ and how did you overcome them?

    On day one of building, there were no projects on Solana aside from Serum, so there was very little existing codebase to reference. This gave us the opportunity to build from scratch and do things our way. Then, as we were building, we found that Solana was moving at a crazy pace. Things that were working yesterday stopped working today because of a new patch. Sometimes these were due to issues we pointed out and had just made workarounds for. The worst was a point where Solana was making 1–2 updates a week and we were struggling just to play catchup.

    After launching, things kept moving quickly. Solana had built a good reputation, but there were so few projects in the ecosystem at that point that our pools list had almost no unique tokens in it compared to other platforms, and we feared losing the entire community over the long run because of the lack of a supporting ecosystem.

    This set us off to create the first AcceleRaytor program. Not only would we create a launchpad, but we would also help advise projects and get them trading on both Serum and Raydium with enough liquidity for users to actually trade.

    Our first AcceleRaytor project was a huge success. So many users participated that we basically ground Solana to a standstill, which made for another first — the first time Solana had seen such heavy traffic. The next month was spent by all our teams going on an RPC building frenzy with each side adding about 10x the number of RPCs they had set up so far.

    4. Raydium was the first Automated Market Maker to share liquidity with Serum’s decentralised on chain orderbook. The opportunities this idea presents for DeFi really is a breakthrough for the industry as a whole.

    Longer term, do you think this trend will continue and how do you think it might shape the future of financial markets?

    First, we should dive into what it means to share liquidity with Serum. When users add tokens to Raydium’s liquidity pools, the AMM decomposes the K=X*Y equation and turns those tokens into limit orders which are placed on Serum’s orderbook for anybody on Serum to trade against.

    On the flip side, when a user makes a swap, Raydium will look for the best price between the orderbook and our AMM assets then execute the trade which yields the best price for the user.

    This model is one of our core innovations and has use cases across the entire ecosystem.

    Our team has been approached by multiple CEXs to bring our liquidity and orderbook functionality to their exchanges. While there are some areas to be improved on, we believe that there will be centralized exchanges adopting this model, as it’s really a step further than the many grid trading bots they have set up so far.

    5. As the ecosystem grows, we’re seeing this flywheel effect of teams reaching out to find out more about Serum and Solana.

    What words of wisdom do you have for builders that are about to make that leap and what are some of the ways Raydium can support new projects?

    Build it and build it quickly. Solana presents new challenges but also opens a lot of doors. Building from the ground up in a new ecosystem really gives you a chance to think about exactly what problem it is you want to tackle and how you think it should be done. The developer ecosystem is really tight, with everyone helping each other so you’ll never feel alone here. The community support is just amazing with people giving constant constructive feedback and appreciation for what you’re trying to help them with.

    The Raydium team is always here to support any project that needs help. We help advise projects on developing, direction, tokenomics, and anything else that you might need. We also have a complete AcceleRaytor program to help with fundraising, marketing and trading across the entire ecosystem.

    6. The community is excited to see what’s next for Raydium. Can you share any breadcrumbs on future developments for our readers?

    To start with, stable swaps should be the next one out the gate. These are designed for high capital efficiency and low fees on tokens that have a strong correlation such as USDC-USDT, synthetic BTC-Wrapped BTC, etc.

    After stableswaps, we expect to have the necessary pools for advanced order routing between pools. Want to trade USDT for COPE and can’t find a pair? Raydium will find the route between pools to get you the best price on that swap. These two features combined would not only save users tokens, but would also give new users coming from centralized USDT based exchanges a seamless trading experience on Raydium.

    The Sushi partnership has also been in the works for a while now and is getting pretty close to completion. We’re just working on hashing out some final details for user experience and should be ready to launch that in the coming weeks. Governance is also an area that we’ve put a lot of time into. Some things we’ve been very careful of is how to avoid bad actors from misappropriating governance power and building a composable platform that other projects could use as well.

    7. Would you like to share some of your positive or most favourite experiences so far as builders? What would you say makes it all ‘worth it’?

    Comments like these. We set out on this mission to help people who couldn’t afford expensive gas fees and give them tools that the traditional financial world wouldn’t give them.

    As a builder, everything really comes together when you see that you have solved a real world problem and that you’ve made positive impacts on peoples’ lives.

    We hope you enjoyed the interview!

    We would love to continue having these kinds of conversations with all the incredible teams building on Serum and sharing them with you. Just let us know who you want to read about next!

    You can keep up with the Cyclos team and development through their Twitter, Telegram, Discord, Medium, and of course, their website.

    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

    Discord

    Telegram

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    August 4, 2021 at 2:25 pm

    Welcome, readers, to Serum Newsletter #37! Big news and updates in the Serum and Solana ecosystems! This is especially so on the Serum side. SRM holders and long-term supporters will have plenty of reading this week. As always, we’ll cover the most attention-grabbing headline events and showcase what’s happening in the community.

    Serum Discord: https://discord.gg/V9Xzqqxj

    Serum Telegram: https://t.me/ProjectSerum

    Announcements: https://t.me/ProjectSerum_announcements

    Burns 🔥 and Staking Rewards

    Project Serum has surpassed $5.78B in trading volume since inception.

    This week, 58.9K SRM was burned and 14.7K SRM was dropped onto stakers — This is $117k worth at current prices.

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    Serum 🔏 Unlock

    Holders have expressed pertinent feedback and questions about the SRM tokenomics. We listened closely as always. SRM remains the backbone of the Project Serum ecosystem, and we carefully evaluated the ramifications of all tokenomic decisions for the benefit of SRM token holders.

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    Serum Roadmap 🗺️

    The newly updated Project Serum Roadmap has been released. We share our accomplishments, thoughts on the future, and the next immediate steps for Project Serum! 💪

    “Serum’s ultimate milestone has never changed. On the other hand, the means towards reaching this goal have shifted. These changes are in response to feedback from users, institutional clients, and ecosystem partners trading, composing or indirectly integrating with Serum’s CLOB.”

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    Meet the Raydium Team 🎙️

    In this week’s Serum Story, we’re joined by AlphaRay, founder of Raydium. The Raydium team shared with us their vision, their advice for new teams, their most memorable experiences, and even some of the most exciting developments on their roadmap.

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    Zeta Competition 🏆

    An exciting event just concluded. Congratulations to @30hzAbuser for winning the Zetaverse competition! A special thank you and shoutout also to celebrity traders @AlamedaTrabucco @kevinrose @EvgenyGaevoy and @mgnr_io who participated and generated much suspense! Were they taking it easy on stealing all the alpha? We may never know 😉

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    Bonfida Trading Competition ⚔️

    Are you ready for another trading battle? Bonfida is celebrating the launch of their Perpetual Futures with a trading competition sponsored by Cope on Solana.

    Competition Period: 08:00 AM (UTC +8) 28th Jul to 08:15 AM (UTC +8) 28th August.

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    Mango Season 🥭

    Make your USDC stables work for you with Mango Markets’ incredible APYs which persisted over the last few days. Indeed, it is currently very attractive to deposit USDC, or should we say, juicy?

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    Phantom available on 📱soon ?

    Do you trade on mobile? What about storing your digital assets with a non-custodial wallet? You can be part of realizing the dream of a Phantom mobile app! Apply 👻 today here. here.

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    Twirl DAO partners with Pyth network

    This integration enables Twirl to fetch the most current price data as needed for core protocol functions. Integrating the Pyth Price Feeds will ensure the safety and accuracy of prices referenced within the Twirl Protocol, protecting users against downtime and various data manipulation attacks.

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    LIQ partners with Pyth network 💧

    Pyth network will provide its feed to power the decentralized on-chain liquidation engine of LIQ Protocol.

    “We look forward to seeing them in action on any @solana dApps offering leverage to users regardless of their integration or not with Pyth feeds”. Pyth network commented

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    CoinShares partners with Pyth network

    “Since launching the world’s first crypto exchange traded product (ETP) in 2015, enabling effective price discovery has been a key focus for CoinShares. A number of regulators have even cited the perceived lack of transparency related to crypto markets and pricing as a core reason to deny retail access to crypto ETPs and ETFs. Pyth network was an obvious partnership for us, as we continue to execute on our vision to unlock more transparency and establish trust in the broader crypto ecosystem using the underlying blockchain protocol to provide verifiable , trusted, real-time data to market participants.” Jean-Marie Mognetti, Chief Executive Officer of CoinShares

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    Who’s Building on Serum ? 🔧

    This list is not exhaustive but hopefully illustrates some of the exciting projects building within the Serum ecosystem!

    @ProjectSerum, yours truly, to provide plug-in orderbook matching and liquidity to devs to compose and seed their DApps

    @PythNetwork Pyth is designed to bring real-world data on-chain on a sub-second timescale.

    @WormholeOracle for bridging SPL with ETH and Terra

    @RaydiumProtocol for swaps and liquidity pools

    @mangomarkets for decentralized leveraged trading and borrow-lending infra

    @MAPS_ME for integrating millions of users into DeFi ecosystem

    @Oxygen_protocol for an on-chain prime brokerage

    @staratlas powering an MMO game economy on the markets.

    @aurory powering an in-game economy for multiple game modes

    @OpenEra bridging an in-game money market with off-game markets

    @PsyOptions launching a vanilla options protocol.

    @bonfida providing a beautiful GUI interface and automated trading

    @JetProtocol for permissionless borrow-lending

    @COPE for trading leaderboard creation to power an index and automated investment product

    @Media Network for a privacy-first and community-governed content delivery network

    @phantom wallet to interact with the ecosystem

    @Solrise as a decentralized fund management and investment protocol

    @SolendProtocol decentralized protocol for lending and borrowing on Solana.

    @ZetaMarkets the premier under-collateralized DeFi options platform built on Solana

    @MoetFi capital-efficient derivatives exchange built on Solana.

    Foresight Markets prediction markets with ample exit liquidity and opportunities to earn spreads for MM’s

    Mercurial Finance DeFi’s first dynamic vaults for stable assets on Solana

    Symmetry decentralized index protocol for easy diversification and passive earnings

    @Saber_HQ a cross-chain stablecoin and wrapped assets exchange on Solana

    @gopartyparrot a liquidity network for lending & borrowing on Solana

    @StepFinance_ visualise, analyse, execute and aggregate transactions across all Solana contracts in one place

    @Solfarmio the efficient Solana yield aggregator

    @offpiste_io powering the new frontier of the private capital markets

    @slope_finance building the decentralized exchange for communities

    @cyclosfi the first AMM bringing concentrated liquidity to Solana

    @LiqProtocol decentralized on-chain liquidation engine powering Project Serum markets & lending platforms on Solana

    And so many more!

    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 assist you in any way we can!

    Go to Source
    Author: Serum

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