Serum Blog Updates

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  • Serum Blog Updates

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

    Member
    September 24, 2021 at 7:19 pm

    Welcome, everyone, to Serum Newsletter #44! Yet another week of eye-catching headlines and updates throughout the Serum and Solana ecosystems. Things are never the same for too long. It can be dizzying to try and keep up; that’s where or newsletter comes in. We hope you’ll enjoy this week’s summary.

    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 $8.31B in trading volume since inception.

    This week, 69K SRM was burned and 17K SRM was dropped onto stakers — This is $662k worth at current prices!

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    Project Serum 🤝 Bonfida

    Thanks the AOB (asset-agnostic orderbook), Serum becomes a truly universal component usable by any protocol, derivative, spot or anything else. Devs can use it to match anything — even NFTs or non-fungible stuff or domain names or whatever. Perps are a great example, and the AOB means that builders no longer have to try and represent complex positions via SPL tokens.

    In other words, other protocols, like Audaces, or a Zeta or Mango Markets, can focus only on the risk engine, the margin engine, and outsource all the matching to Serum.

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    Wormhole 🌉

    Congratulations to the @wormholecrypto team on this incredible milestone! The Wormhole Token Bridge is going to be key for a sustainable cross-chain future.

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    Symmetry Swap Upgrade ⚡

    Many have asked how to retrieve their SOL (around 0.023), which used as a “rent”, to create their open order accounts, the intermediary address between you and the DEX on that pair. You can now finally retrieve that SOL easily by using Symmetry Swap!

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    Mercurial x NFT from Star Atlas 👨‍🚀

    Trading your favourite NFTs spaceships from Star Atlas through an order book can be daunting task, especially if you just want to quickly buy or sell a Star Atlas NFT. Now, you can immediately see the best price available and swap in one click thanks to Mercurial Finance!

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    Atrix Protocol 📚

    An insightful thread from the Atrix Protocol team demystifying the concept of slippage and the role its plays in decentralized exchanges.

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    CropperFinance x Project Serum💧

    We’re happy to announce our latest partnerships with CropperFinance, which will integrate with Serum on-chain orderbooks to provide their AMM service.

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    Pyth network partners with AmberGroup

    “Joining the Pyth Network was an obvious decision for us as we share a common goal to make markets more accessible and transparent for trading participants through blockchain technology and decentralized finance. The Pyth Network is one of the most exciting and promising projects that we’ve seen hit the ecosystem and we look forward to providing our crypto data to help it flourish.” Michael Wu, Chief Executive Officer of Amber Group

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    Pyth network partners with Galaxy Digital

    “We’re happy to experiment with lots of things, but that’s not what I would call this. I would call this something that we see as part of the core infrastructure of DeFi more broadly.” James Roth, Business Development at Galaxy Digital

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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

  • solbot

    Member
    September 27, 2021 at 3:00 pm

    Dexlab — The Decentralized Lab and One-Stop Shop for Solana Projects — Serum Stories #12

    “I always told my blockchain friends that the future of crypto was going to be with decentralized exchanges…when I found out about Solana early on, I knew that it was the blockchain of choice. And upon much research, it led me to the discovery of Serum…It was perfect for everything that I wanted to do, so we built on top of this, but obviously adding our own flavors to it too.”

    Welcome to Serum Stories #12

    How do you accelerate adoption and participation within a promising and hot blockchain ecosystem? Part of the answer is making the lives of developers and builders much easier. Dexlab encapsulates this idea through a single platform for your team to mint, launch, list, expand, and even trade.

    For starters, Dexlab makes launching on Solana easy with their specialized service suite: a token minting lab, a launchpad, and a dedicated DEX for these listings. There’s another cool aspect to their project too: Dexlab itself is a Serum orderbook-based DEX GUI dedicated to listing these newly minted, incubated tokens. (One among many innovative variations on hosting your own Serum GUI). There’s something here for all Solana builders.

    This week, we are delighted to be joined by the Dexlab team, who give an insightful breakdown of Dexlab’s diverse offerings, share their founding story, and lay out what they see in Solana and Serum.

    What’s up next

    1. — What is Dexlab?

    2. — What’s in a name?

    3. — The founding story

    4. — The minting lab!

    5. — IDOs for all

    6. — Why Serum and Solana?

    7. — A message from the Dexlab team

    Interview

    1. For those who are not already in the know, what is your 30 second elevator pitch for Dexlab?

    Dexlab is a platform that makes launching on Solana easy with a token minting lab, a launchpad, and a dedicated DEX for all listings. The platform runs on the Solana blockchain, which offers high scalability and very low fees.

    We are essentially a one stop-shop for Solana enthusiasts and experts alike. We specialize in onboarding projects into the Solana ecosystem, getting involved every step of the way.

    2. What’s in a name? You’ve got DEX and Lab right in the project name. Who are you inviting to come and experiment?

    So our name literally means, “a decentralized laboratory”. In essence, we want people to be able to come to our platform and do almost everything, whether it’s from experimenting with token minting, creating NFTs, trading, API use, etc.

    As the platform develops, we will keep adding features, but in essence, we are a one-stop shop. Projects will be able to experiment and do almost everything at Dexlab (soon).

    3. What brought you to where you are now? How would you describe the founding story of Dexlab?

    Well, although Dexlab started a year ago, my crypto ventures go way beyond that. I’ve been investing into cryptocurrencies for many years now. But the story goes all the way back to a company I founded.

    In fact, I founded my first company about 10 years ago, which was a booking platform for luxury vacation homes. We grew it to the top player in its category before moving on to Yellomobile after 2 years. I worked there as the youngest C-level executive, leading their platform strategy. At the time, they had also invested in CoinOne and, through that, I became connected to Icon, Korea’s most successful ICO up-to-date. This became my real entry point to the blockchain world.

    My co-founder at Dexlab, Ray, was also my co-founder for my first company. Ray also focused on other projects, such as Seoul Auction, the number one art auction website in Korea, and Cashwalk, one of the top advertising apps for Android and iOS. We had more than 7 years of experience working together, so we decided to move onto the blockchain world. My friend from FTX told me about Solana, so immediately, I knew it was time for us to build our next project here.

    4. That’s awesome, and you’ve certainly come a long way! You launched your DEX in Q1 2021 and have since released a number of ancillary features for traders, including your analytics, bots, and more.

    One feature in particular that has just been released is your minting lab. Would you like to share more about how this works?

    We actually launched our DEX in the summer of 2020, but at the time, the Solana ecosystem’s activity and the trading of SPL tokens was very low in terms of volume. During Q1 2021, we ramped up development and eventually started to focus on our platform’s flagship product, the Minting Lab.

    In order to understand the Minting Lab, one must also understand how Solana’s Command Line Utility works. You see, The SPL CLI is the primary method to create and manage Solana tokens. Currently, it lacks the linkage to be able to manage environment settings, token sales, market listings, and token information. With Dexlab’s GUI, we are allowing users and projects to manage these settings, and be able to do everything from token issuance to adjusting utility settings. And all of this will be do-able with simple clicks and fill-ins.

    Right now, we are in our alpha phase, and have added the basic features such as minting and managing the tokens. We are adding more features such as vesting smart contracts, wallet management, listing managements, etc.

    5. Incredible. This all makes Dexlab a great example of a platform that leverages Serum to make DeFi more user friendly for a wider audience. You also have an IDO process for projects to apply and quickly launch their tokens. What was the thinking behind this offering?

    As I mentioned earlier, we are a one-stop shop for Solana projects. In essence, we are providing projects with a complete package when it comes to token distribution. That means, we help projects create or further grow their community. We also hold a public sale for them, and then we provide the necessary market pair for the project.

    In terms of traditional marketing, we provide full support for their pre-marketing (build community, review tokenomics, etc), and then provide the necessary distribution channels for interested parties that want to either realize profits or invest.

    When our Minting Lab is fully functional, projects will be able to mint a token, distribute the token, and list it. All under one platform.

    6. What do you see in Serum and Solana? What guided your choice to build on Solana blockchain and to host a Serum-based DEX?

    I always told my blockchain friends that the future of crypto was going to be with decentralized exchanges. But for a DEX to work properly, we couldn’t have a product that was slow or extremely expensive. So, when I found out about Solana early on, I knew that it was the blockchain of choice. And upon much research, it led me to the discovery of Serum. I was so fascinated by an on-chain orderbook, which I found to be revolutionary. It was perfect for everything that I wanted to do, so we built on top of this, but obviously adding our own flavors to it too.

    7. Do you have any last words for your followers and supporters? Anything for your fans to look out for in the near to medium-term horizon?

    First, I want to say thank you to all the supporters and community members who have stayed with us throughout this whole time, especially through the bad times. Your support means the world to us at Dexlab, and we want nothing but see the community succeed with us.

    My goal is that Dexlab becomes the entry-hub to Solana, so be on the lookout, because once the gateway completely opens, things are going to get wild! We are only at the beginning stages.

    If you are a project the believes you can be part of the Solana ecosystem, be sure to check out our governance portal at https://governance.dexlab.space/#/overview for future collaborations with Dexlab.

    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 Dexlab team and development through their Twitter, Medium, Discord, and of course, their website.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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
    October 1, 2021 at 4:11 am

    Welcome, readers, to Serum Newsletter #45! What’s going on this time around in the Serum and Solana ecosystem? In this issue, we run through a number of new partnerships, live shows, and other exciting media releases by our favourite partners and ecosystem players! There’s plenty to check out and to be entertained by.

    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 $8.54B in trading volume since inception.

    This week, 54.6K SRM was burned and 13.7K SRM was dropped onto stakers — This is $485k worth at current prices.

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    Project Serum: The Path to Decentralization

    Learn more about Serum’s next step towards becoming a DAO to allow the community to self organise and pursue their common goals. There will be a number of important changes that will make decentralised governance possible for Serum.

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    Solrise DEX Pro 🌞

    Solrise DEX Pro is our way of bridging the world of institutions to DeFi without resorting to centralization. With Solana already being the most familiar DeFi ecosystem for traditional finance, we expect to become one of the primary hubs for institutions that wish to jump into the ecosystem. This permissioned DEX allows us to establish a parallel ecosystem of permissioned protocols.

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    Project Serum Ignition Prize 🏆

    Looking to build on top of Serum? You could receive a $30K prize!

    Check out the Project Ideas and Grants docs for more insights!

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    Serum X Solrise Twitter Space 🎙️

    What does a permissioned DEX mean for DeFi? Find out today in a live chat with @SolriseFinance & @civickey hosted by @ProjectSerum.

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    Mercurial X Wormhole 🤝

    @MercurialFi has collaborated with @wormholecrypto to create Solana first 4pool for swapping wrapped stablecoins. This ensure the end-to-end decentralization of stablecoin assets on Solana. Check out this awesome step by step guide to transfer Ethereum assets to Solana.

    Congrats to the @MercurialFi team for constantly innovating.

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    FIDA Binance Listing ✅

    SPL tokens continue to be listed on Binance! Congratulations to the Bonfida team.

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    Mango Getting Started Tutorials 🥭

    Learn about Mango and its powerful risk engine, tooling, and permission-less trading platform.

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    Sonar Watch Medium 📚

    Discover the origins of Sonar as well as a quick presentation of the team. More to come on the following weeks! Give them a follow!

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    Pyth network partners with GMO Coin

    GMO Coin was established in October 2016 as a crypto assets exchange business and was registered as Type I Japanese Financial Instruments Business in May 2020. GMO Coin also provides crypto assets trading services, one of which enables leverage trading w/ safe and secure system

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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
    October 3, 2021 at 8:05 pm

    Calling All Devs — Serum, SRM, and an Ecosystem for the Future — Part 3

    TL;DR: There are a myriad of ways for developers to get involved in the Serum ecosystem.

    You can set up your own state-of-the-art DEX based on Serum. You can embed the Serum Swap feature that routes to the order book. You can utilize Serum as the liquidity layer and matching engine for your protocol’s trading features, and allow your team to focus on other important tasks!

    There are many resources to help you get started. Join our communities to learn more.

    We are passionate about supporting projects which can benefit from our on-chain matching engine and shared liquidity base. Hackathons, popular project ideas, and grant applications are just some of the ways for developers to achieve their DeFi ambitions.

    What’s up next

    1. — A Serum for the future. A Serum for everyone.

    2. — Get involved!

    2.1 — Hosting a DEX GUI

    2.2 — Serum Swapper

    2.3 — Deeper Integrations

    3. — Hackathon

    4. — Project Ideas

    5. — EcoSerum Grants

    A Serum for the future. A Serum for everyone.

    Serum is a high-performant decentralized exchange with a fully on-chain central limit order book (CLOB) and matching engine which powers an entire ecosystem of DeFi services through composability.

    An on-chain order book is the ‘holy grail’ for traders and developers seeking the global adoption of DeFi. Almost all electronic ‘tradfi’ exchanges use a limit order book.

    Serum’s goal is to (1) become the matching and liquidity infrastructure layer of Solana, and (2) bring DeFi to the masses through the ambitious and symbolic goals of onboarding 1 billion users and $10T in value onto the ecosystem.

    Solana ecosystem projects can compose with Serum’s CLOB to tap into the shared liquidity: Serum’s matching engine can take an order from one dApp composing with a Serum order book market and match it with an order from a completely different, composing dApp. This is how Serum powers a wide range of markets-based use cases for institutional and retail users, all at the speeds and low costs of a centralized exchange, while keeping everything decentralized.

    The SRM token powers the Serum ecosystem. In terms of utility, holding SRM makes users eligible for lower fees across DEX GUIs and dApps that compose with the CLOB. Volume across these protocols go towards SRM buy and burn.

    SRM will also be used for voting in Serum’s upcoming governance structure. More announcements about Serum’s move towards its envisioned DAO are on their way.

    Get Involved!

    We are proud of what Serum has accomplished and made possible. There’s a myriad of ways for developers to get involved and build on Serum.

    Here are some of the most common ways for Serum builders to deliver the next generation of DeFi services.

    Hosting a DEX

    One cool way for developers to get involved (ever since day one!) is hosting their own DEX graphical user interface (GUI).

    Anyone can host their own DEX GUI and earn a portion of fees. The look, feel, and features built on top of your GUI are completely up to you.

    That’s all it takes to launch a fast, cheap, and convenient DEX on Solana. No need to reinvent the wheel, build another on-chain matching engine, make market making partnerships, and build a GUI from scratch…

    There are dozens of such full-featured Serum DEX GUIs. Check out Raydium, Bonfida, Mango, Dexlab, and OpenSerum, just to name a very small handful.

    Volume from these GUIs, of course, go to the same central limit order book, meaning generated fees go to SRM buy and burn.

    In other words, there is more than just one place to access Serum DEX. Serum makes it possible for anyone to set up their own state-of-the-art DEX. This is great news for traders, as it means more venues to pick from.

    Screenshot from Bonfida DEX — “Trade on the most used and advanced Serum DEX UI”

    And this is just one way to participate in the Serum ecosystem. How else are developers getting involved?

    Serum Swapper

    Do you need a quick and sleek swap interface embedded on your protocol’s user interface? Grab the Swap program and the accompanying UI.

    The swap program may be a slight misnomer: what the swapper actually does is send a market order to the Serum DEX to take advantage of Serum’s deep liquidity.

    You may have used the swap program before! Much like Serum GUIs, they can be housed under different protocols, like Symmetry, Mercurial, Atrix, Cyclos, or Solflare, to name just a few. You can imagine the convenience this embedded feature can offer.

    “Easily integrate Serum Swap and swap directly on Serum DEX’s deep liquidity” — Source.

    Deeper Integrations

    Serum powers many kinds of use-cases and integrations can be deep and elegant.

    Matching orders lies at the heart of Serum. Serum can match for not only spot markets but also derivatives (Zeta Markets, PsyOptions, off-piste, HXRO). Serum can also power liquidations (Jet Protocol, Solfarm, Parrot), asset management features (Solrise, Nova Finance), AMMs for deeper and smarter liquidity (Raydium, Atrix, Cyclos), and even in-game NFT markets (Star Atlas, DeFi Land, Aurory, OpenEra), to name just a few.

    These are just some of the players building on Serum. We will do a deeper dive into our constantly growing ecosystem soon.

    This growing list of ecosystem partners is exciting news for SRM holders. After all:

    • Holding SRM makes users eligible for cheaper fees for trades matched via the Serum order book across Serum-based dApps and DEX GUIs.
    • And more volume means more value accrual for SRM.

    “In the spirit of DeFi, users are invited to compose with us and host their own GUIs…”

    That’s Serum: a high-performant and diversely accessible DEX, a fully on-chain order book and matching engine, and a fully composable primitive powering a DeFi ecosystem for all.

    What will you build on Serum?

    Hackathons

    Hackathons are a great opportunity for upstart teams to shine.

    Our partner, Solana, has outdone themselves with the sheer number of incredible hackathons this year.

    As of writing, there is still a chance to partake in the Solana: IGNITION Hackathon until October 15. Serum is sponsoring its own track with a first place prize of $30K.

    On a spookier note, the Hacktoberfest presented by DigitalOcean is also a great place to get started in the Serum and Solana ecosystem. The Anchor community will be participating, and everyone is invited to join!

    There will be countless opportunities after this one, of course, so stay tuned.

    Project Ideas

    Need hackathon or project ideas? Serum has you covered.

    You can check out our updated list of hot and highly demanded project ideas. Many of these ideas come with substantial grants, including the two below. Get in touch to learn more.

    Two popular requests:

    (1) Build a way to switch the Solana information model from polling to streaming, facilitating development of novel and more complex hybrid apps on Solana.

    In terms of architecture, the way a Solana validator currently works is by using a rocksdb instance for fast storage of state, and periodically committing transaction history to a Google BigTable instance.

    (2) Running Serum markets on testnet and stress test them to break them.

    Tasks to be done for this are:

    • Manage DEX upgrades
    • List markets with tokens
    • Provide a faucet (for those tokens) that anyone can use to get and trade on the testnet DEX
    • Provide a GUI for testnet DEX
    • Run cranks on testnet DEX

    You can continue the conversation on our Discord.

    EcoSerum Grants

    A longstanding principle of Serum is community-oriented support for promising projects and initiatives that benefit the ecosystem and community.

    This principle continues to shape Serum’s governance and decentralization goals.

    Do you have a novel idea and something to showcase? Entrepreneurial spirits are encouraged to apply for an EcoSerum grant.

    In the past month alone, Serum has given out more than $10 million worth of grants. The standards will continue to become more rigorous, and this is indicative of a strengthening ecosystem meeting demand and developing increasingly sophisticated solutions. We are excited to see what’s next.

    It’s your time to shine.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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

    Go to Source
    Author: Serum

  • solbot

    Member
    October 8, 2021 at 5:13 pm

    Project Serum’s new roadmap was released at the end of July. Serum’s ultimate goal never changed, even if the means towards reaching that goal have transformed. DeFi is full of action and flux, and that goes for the last three months as well.

    It’s critical for Serum to readily respond to changes in user demand and developer challenges, while still hitting all the necessary milestones. This quarterly update report reflects on some of Serum’s major upgrades and launches. What are some of the things Serum has been up to in Q3 of 2021?

    Serum Upgrades

    Serum, as a core liquidity infrastructure layer on Solana, has been undergoing and preparing for continuous upgrades to the DEX and order book architecture to meet developers’ changing needs and user demand.

    Serum Core by Bonfida

    We published our Serum Story with Bonfida — a beloved and veteran ecosystem player.

    Bonfida made a name for themselves through their non-stop release of innovative features from their one-stop-shop and product GUI: Bonfida Bots, Bonfida analytics, Serum API, Solana Name Service, and much more.

    Bonfida’s newest release speaks to their longstanding commitment and passion for Serum’s vision: Serum Core, an asset agnostic orderbook, built for the universal benefit of Solana and Serum developers.

    What is Serum Core? (Technical)

    Serum Core is a pure matching engine that can be used to match any financial assets regardless of whether they can be tokenized or not (an illustrative example being Perpetual Futures): with Serum Core, developers can use normal accounts to store state instead of SPL tokens.

    Serum Core provides matching as a service and other smart contracts can subscribe to it by sending transactions and consuming its events. The rebuilt Serum DEX is a smart contract that uses Serum Core to match SPL tokens.

    “With the AOB, Serum becomes a truly universal component usable by any protocol, derivative, spot or anything else. Devs can use it to match anything — even NFTs or non-fungible stuff or domain names or whatever. Perps are a great example, and the AOB means that builders no longer have to try and represent complex positions via SPL tokens.”

    What does this mean for developers?

    Perhaps the world. Synchronized migration to the new asset-agnostic order book is key. We highly encourage developers interested in Serum Core to reach out.

    Developers will be interested in:

    What does this mean for users?

    Users can look forward to new waves of innovative dApps made possible thanks to Serum Core. On the flip side, traders on any Serum DEX-based GUI will not notice immediate or flashy changes to the UX. Serum Core is a dev-focused update, with massive and positive implications for the users that developers service.

    Permissioned Markets

    Serum has always been about driving DeFi’s growth and providing participants with the tools they need. Permissioned markets are a hallmark example of such tooling.

    Serum now supports permissioned markets as of August 6!

    At a high level, permissioned markets enable market listers to add granular control across specific dimensions such as fee parameters and accessibility by enabling an “open orders authority” which enforces who may and may not trade on a specific market.

    Permissioned markets do not mean that markets on Serum now have some centralized component. In fact, it’s the opposite: market listers can now choose how their order books are used. This can now be done on-chain through transparent permissions and with no modifications to the DEX.

    “This gives more freedom to programs composing with the DEX. Not less.”

    Listers can set custom fees for their own markets or those listing that same market. This level of control over fees and accessibility allow developers to build moats around custom or specific markets, preserving economic incentives for taking on the project risk associated with launching their market.

    Control over market access across time can also give rise to an expiratory nature on specific markets, which can be important for derivatives platforms which need to represent that expiratory facet of their products.

    Permissioned markets also pave the way for institution adoption, which is critical for driving massive liquidity for DeFi to scale. Solrise Finance and Civic Technologies is one recent partnership geared towards kick-starting institutional adoption. Last week, they announced the launch of Solrise DEX Pro, Solana’s first permissioned DEX, which will stand parallel and complementary to Serum’s existing permissionless market space.

    This may seem like an arduous journey towards getting institutional participation into DeFi, but we are confident this is the right path, given the both the appetite for DeFi exposure and stringent regulatory requirements for large capital players. Ecosystem players like off-piste also share the same vision, and we’re excited for Serum to play a critical role in connecting the two worlds.

    Developers will want to check out the quickstart repo for creating permissioned markets.

    There is another incoming upgrade we want to highlight. As developers know, opening markets on Solana is a costly initiative. The upcoming closeable markets feature addresses this. Closeable markets are markets where a program can clear the order books and recoup the rent from the accounts. Many developers look forward to the ability to close Serum markets for ephemeral assets.

    Governance and DAO

    On September 27, Serum’s next steps towards decentralized governance were announced. Later on October 7, the Serum Community forum was launched. Sign up and join the discussion!

    Serum is preparing to meet the demands of a larger and more diverse group of users. Decentralized governance is a critical step that will create a framework for the community to have their say.

    As Serum continues evolving into a DAO, be sure to look out for new governance structures that will give the community the tooling to self-organize and pursue their common goals. Such structures include familiar tools like the multisig and the forum for discussion.

    Exciting changes to look forward to include voting rights on a number of significant issues, including:

    • Features you want to see in the protocol
    • Grants to be collectively voted on
    • Fee structure and other parameters of the DEX

    A larger DAO announcement is coming soon. Thank you everyone for your continued support. As always, we will keep everyone updated across our channels.

    New Content!

    Serum has been bringing new content to all the major channels.

    Stories and Spotlights

    Many of you are familiar with the Serum Stories series, a community-driven journalistic initiative that aims to showcase the incredible teams building on Serum and Solana. We’ve had the wonderful opportunity of interviewing a new team almost every week and learning about the more personal elements of their team’s journey, on top of the hottest things on their roadmap and their general outlook on the industry.

    Serum Stories covered an impressive list of Serum ecosystem projects in 3Q: Zeta Markets, DeFi Land, Cyclos, Raydium, Solrise Finance, PsyOptions, Atrix, off-piste, Vybe Network, 01 Protocol, Bonfida, and Dexlab.

    It’s inspiring to have such talented teams like these build on Serum, and we’re excited for the next quarter’s line-up.

    We’re looking to dig deeper into what some of the major ecosystem players are up to. The new Serum Spotlight series are compact case studies into fascinating and creative ways that different protocols are leveraging Serum’s architecture. We had the honor of collaborating on the very first Serum Spotlight with Star Atlas. There’s many more to come. Don’t hesitate to let us know who you want to read about next.

    Twitter Spaces and Podcast Relaunch

    Why stop at the written word? Serum’s new weekly Twitter Spaces are a great way to listen in on your favorite teams and Serum contributors. Discussions can get both personal and technical.

    Did you miss the last few Spaces with Zeta Markets, PsyOptions, Solrise Finance, and Vybe Network? Don’t fret! You can listen to them on our Youtube channel in our new Series, The Composers.

    Expect some classics to come back as well, on top of new content with educational and casual focuses. Stay tuned!

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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

    Go to Source
    Author: Serum

  • solbot

    Member
    October 8, 2021 at 5:28 pm

    Welcome, readers, to Serum Newsletter #46! 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 $8.82B in trading volume since inception.

    This week, 36.2K SRM was burned and 9K SRM was dropped onto stakers — This is $387K worth at current prices.

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    Project Serum 🆕 Forum

    Have you checked out the brand new Project Serum forum? It’s great way to share ideas and discuss future implementations!

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    Calling All Devs 👨‍💻

    Looking to build in the Solana and Serum ecosystem? How can Serum benefit your protocol? Learn more about how you can get involved!

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    Almond — Fair and Nutritious DeFi 🌱

    Almond aims to be “the most useful and most community-focused” DeFi platform on Solana, starting with farming and more features soon after. Come learn about their new Diet Plan.

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    Atrix Protocol 📚

    Another insightful thread from the Atrix Protocol team, this time demystifying the concept of DeFi Flash Loans.

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    Drift Protocol is hiring! 💻

    Do you believe decentralized, trustless, and transparent systems have the potential to make the world a better place? Join the Drift Protocol team today!

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    Didn’t find what you were looking for? Solana has even more opportunities!

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    Pyth network partners with MEMX

    “We want to make our exchange data accessible to participants, wherever they are interested in consuming it, and the Pyth network is an exciting opportunity to bring high fidelity data directly to Defi consumers. We are excited to support this effort by providing MEMX’s robust equities exchange data to the Pyth network.” Jonathan Kellner, CEO of MEMX

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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

    @WormholeCrypto 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
    October 12, 2021 at 2:13 am

    Symmetry: the Place to Track, Swap, and Create Your Indices — Serum Stories #13

    “Each of us constantly challenges ourselves to deliver fully functional products or features in a record time…At the core of all this is that the entire team believes that what we are doing is important and useful to the world.”

    Welcome to Serum Stories #13

    We often talk about ‘financial primitives’ in DeFi, given the industry’s relatively nascent status. Many of the constructs that we see within TradFi are somewhat taken for granted in that world, and are being migrated to the Solana and Serum ecosystems by clever and diligent teams.

    This week’s feature guest is no exception. We’re kicking off 4Q2021’s first Serum Story with Symmetry, the decentralized index protocol, portfolio management tool, and analytics suite. The Symmetry team give us a thorough tour of the upcoming portfolio management and index protocols (due soon for mainnet!), insight into why they’re building out indices and baskets in DeFi, and a small glimpse into their day-to-day thinking and motivation behind their efforts.

    What’s up next

    1. — What is Symmetry?

    2. — The founding story

    3. — Indices for all?

    4. — Swap and Serum!

    5. — Portfolio Manager Tool (Open Beta!)

    6. — Live feeds

    7. — Baskets for all

    8. — What makes it all worth it!

    9. — Final words…

    10. — …and a final teaser.

    Interview

    1. For those who are not already in the know, what is your 30 second elevator pitch for Symmetry Finance?

    Symmetry is a portfolio manager and an index protocol on Solana that allows users to easily create custom baskets of tokens or to invest in ones created by others. The protocol takes care of the rest. As a basket creator, you have options to define all the rules by which the assets in your index will be selected and rebalanced, allowing you to effectively diversify your portfolio.

    2. What brought you to where you are now? How would you describe the origin story behind Symmetry?

    The Symmetry team has had years of experience working together before this. We initially worked on a different project that was aiming to simplify aviation insurance. However we realized there were some gaps in crypto systems that needed to be filled first. The biggest ones we identified were portfolio management, diversification, and lots of things that follow once such instruments exist, so Symmetry was born.

    3. You’re bringing one of the most popular, heavily traded instruments from the TradFi world to DeFi — namely, index products.

    Why specifically did you choose index products? What forms of empowerment do you envision from allowing anyone to buy and create their own custom indices?

    Index products traditionally have been managed by central parties, leaving the people no other choice but to settle with the limited offerings of such parties. High speed and almost no transaction costs of Solana changes the game, in that it allows us to implement tools to make the seemingly complex process of index creation and management accessible to everyone.

    We expect to see incredible indices created by both professionals and enthusiasts that will maximize the efficiency of everyone’s portfolios. It does not matter if you have a PhD in Mathematics or if you are a farmer in the middle of nowhere who is simply interested in financial instruments: you have the opportunity to create products that outperform everything else, products that other people will use and earn you your share. This is what empowers us.

    This short film by Accenture about blockchain meticulously captures some of the ideas that empower us, and we hope it will inspire you too.

    4. One of your most well-known protocol features is the Symmetry Swap, which boasts one of the lowest swap fees, minimized slippage, and low spreads. It was about a month ago when Symmetry Swap surpassed $10M daily volume — nicely done!

    Why did you choose to build out Symmetry Swap and use Serum to power it in the backend?

    The products we roll out are targeted to complement our index protocol (which will launch very soon on testnet). There were a few reasons for why we decided to implement swap and use Serum liquidity to power it:

    1. Aesthetics: we want our users to have a pleasant and memorable experience on our platform and to come back in the future because of its simplicity and ease of use.
    2. At the time we built the swap, there were not many options where you could quickly exchange a token with another; and one would also have a hard time finding platforms that had all the newly added tokens.
    3. Most swaps have an additional fee on top of Serum’s fee, which may not seem much, but it adds up as we trade frequently. So we built it with no fee on top.
    4. We will need a place where users swap indices just like any other token, and we want our users to be familiar with the experience even before we roll out our main product.

    All these reasons combined, plus Serum’s backend (which has low swap fee), extremely large liquidity that will only grow in the future — we found that it was a perfect combination to implement Symmetry Swap, which actually surpassed $36M daily volume on September 9, less than 1.5 months from its launch.

    5. That’s incredible. Let’s look at some of your other offerings. Your Portfolio Manager tool has been in closed beta for more than a month now and has surpassed 3K daily active users. As you continue finalizing the Portfolio Manager, what should users look forward to?

    Our Portfolio Manager is now in open beta, so anyone can connect their wallet and within minutes see their historical net worth. We continuously add features and aim to allow users to track all of their holdings in all of their wallets in one place. There are many secret features we have planned for Portfolio Manager, and we will roll them out soon after launching the indices on testnet (one such feature may be automated portfolio rebalancer).

    Like our Swap, our Portfolio Manager will complement the Index products, and users will be able to track and analyze their index holdings with it.

    6. Speaking of tools and indices, anyone checking out your main website can scroll to the bottom and see some live index feeds!

    These are, at the moment, data that we use to test the protocol. However, it will indeed be switched to live feeds of the highest performing indices once the protocol launches on mainnet.

    7. That’s exciting, and we can’t wait! You’ve also got indices with names like “Altchains”, “Meme Index”, and even an “NFTs Index”, as well as more the more standard “Top 10–20”. Can you give us a preview into some other pre-set index constructions your team has in store?

    The initial indices which we will be creating ourselves are rather simple ones, that can serve as benchmarks for all other great baskets that our users come up with. Most Symmetry-created indices will be simple combinations of top tokens weighted by some power of their market cap. Users can use these indices to determine the relative performance between these benchmarks and their own.

    That’s not to say that we won’t be attempting to create complex baskets that will hopefully do extremely well in the long run; however, we believe our users are the ones who will discover amazing combinations of assets and rules that outperform our benchmarks by a large margin.

    8. You guys are constantly hammering out updates and polishes to your product suite. It’s inspiring to see, and we have to ask, how do you guys do it? What do you look forward to each day as builders?

    I think one interesting reason for our continuously adding features and updating our platform is that each of us constantly challenges ourselves to deliver fully functional products or features in a record time. To give an example: we wanted to launch our portfolio tracker in 3 days of development; it took us more than a week, which in reality is quite fast, however each day that passed our mental deadline of 3 days, we would double down and work harder. Working 16–20 hours a day also helps speed things up (hehe). At the core of all this is that the entire team believes that what we are doing is important and useful to the world.

    9. Do you have any teasers or upcoming news for your followers and supporters? Anything for Symmetry fans to look out for?

    We’ve been hard at work for the past couple of months, developing the Index Protocol. We will be announcing the launch on testnet first along with a competition event. During the testnet period, we will listen to feedback from our users and polish the platform before launching on mainnet. We’re also talking with a few protocols on and off the Solana ecosystem and are working on several very exciting collaborations! 🙂

    10. You dropped a teaser image in your last monthly update, for example. We’re super excited for the Index Protocol to hit mainnet!

    We are as well! We are looking forward to onboarding many retail users and institutions from traditional finance to crypto through our Index Products and Actively Managed Funds!

    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 Symmetry team and development through their Twitter, Discord, and of course, their website.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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
    October 13, 2021 at 4:02 am

    Today, we are excited to announce a new integration with Zeta Markets. Zeta will leverage Serum’s order book design to create a fully on-chain decentralized vanilla options protocol on Solana.

    Zeta and Serum are aligned in their vision to bring new products to DeFi on Solana. We believe that this is a great step forward for DeFi derivatives on Solana, as we reduce parallel development in the ecosystem and provide community-oriented, ‘CeFi-like’ experience on Solana.

    Zeta will utilize Serum to match orders for its derivative contracts, building on top of Serum’s new permissioned markets functionality to create the required logic for DeFi derivatives.

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    What does this mean for Traders?

    Trading DeFi options and futures on Zeta will provide users with more flexibility for order placement, and create new ways for counterparties to collateralize options.

    Zeta’s integration of Serum contains functionality that pairs a margin account on the Zeta platform with multiple underlying Serum markets for call options, put options and futures, enabling leveraged trading and powering on-chain liquidations to enable a safe undercollateralized experience.

    Importantly, trading options on Zeta will feel like trading on most other centralised exchanges.

    Future Integrations

    In the future, they will explore a migration to Serum Core (Serum’s new asset agnostic orderbook) to take advantage of added flexibility on the fee structure and protocol design. Zeta are excited to kick off hosting a suite of cryptocurrency derivatives products on Serum, with plans in future to list long-tailed underlyings, exotic derivatives, and DeFi native yield products.

    About Zeta Markets

    Zeta’s vision is to create a fast, liquid, decentralized exchange for futures and options. When the idea for Zeta was coming to fruition — they realised that the base layer for complex derivatives like options need to be high-speed, high-throughput and fully decentralized.

    Zeta’s thesis is that true price discovery, and deep liquidity occurs via order books in the long-run, and Serum has enabled a unique primitive built by Zeta — A hybrid OMM-order book approach, which will define DeFi option trading for years to come…

    About Project Serum

    Serum is a protocol and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless. Ecosystem partners can compose with Serum’s on-chain central limit order book to share liquidity and power markets-based features for institutional and retail users.

    Stay up to date!

    You can keep up with the Zeta Markets Serum integration through our Twitter, Discord, and Medium.

    If you’re only just learning about Zeta, we recommend reading Zeta Markets — From Uni Friends to Hackathon Winners.

    Be sure to join Zeta’s community and reach out if you have any questions.

    Discord

    Website

    Twitter

    Go to Source
    Author: Serum

  • solbot

    Member
    October 17, 2021 at 7:12 pm

    Welcome, readers, to Serum Newsletter #47! What’s new in the Serum and Solana ecosystems? In this last week, we witnessed yet another incredible line-up of exciting headlines. It just won’t end! Here’s the latest:

    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 9.13B in trading volume since inception.

    This week, 58.8K SRM was burned. This is $443K worth at current prices!

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    SymmetryInterview 🎙️

    This week’s feature guest is no exception. We’re kicking off 4Q2021’s first Serum Story with Symmetry, the decentralized index protocol, portfolio management tool, and analytics suite. The Symmetry team give us a thorough tour of the upcoming portfolio management and index protocols (due soon for mainnet!), insight into why they’re building out indices and baskets in DeFi, and a small glimpse into their day-to-day thinking and motivation behind their efforts.

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    Project Serum TVL going north ↗️

    We are delighted to witness the impressive growth of the Total Value Locked within our ecosystem! Keep BUIDLing

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    Zeta Markets 🤝 Project Serum

    Zeta and Serum are aligned in their vision to bring new products to DeFi on Solana. We believe that this is a great step forward for DeFi derivatives on Solana, as we reduce parallel development in the ecosystem and provide community-oriented, ‘CeFi-like’ experience on Solana.

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    We are honoured by the kind words of Zeta Markets:

    Serum is a world-class project on Solana. The team has delivered the Anchor framework, swap primitives, and best of all — Serum has pioneered a first-class on-chain orderbook. Zeta is looking to extend this, and create the world’s first on-chain orderbook-based derivative DEX

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    Raydium Order Routing 🛣️

    All your swap will now check all roads in order to find their way!

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    DeFi Land Update 🚜

    Our friends at DeFi Land are gathering all the different DeFi protocols at the same place under a beautiful front-end to gamify the entire farming process.

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    Off-piste 🤝 Project Serum

    Serum is a major the protocol is built on Solana the seamless process of t+0 orderbook style orders and settlement on chain is truly remarkable

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    Star Atlas Builders 🛰️

    Learn more about Star Atlas in-game play!

    The builders of Star Atlas produce goods and improve technology. You will work and trade with extractors and refiners who supply natural resources — all represented by NFTs

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    Aurory In-game Footage 🎞️

    Did you know? Aurory gives its NFT holders incentive to purchase and play!

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    Mango Advanced Orders 🥭

    Stop Loss & Take Profit orders are common on centralized exchange but have been missing in the DEX landscape until today thanks to Mango Markets innovations!

    Find out more here.

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    Solflare Mobile App Preview 📱

    Very excited! Mobile wallet are incredibly useful for the Solana & Project Serum ecosystem.

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    Binance supports USDC & USDT in SPL format

    Binance completes the USDC-SPL and USDT-SPL integration and has opened deposits and withdrawals for USDC and USDT on Solana network (SPL). Please find your assigned USDC and USDT deposit addresses on the Solana network in the Deposit Crypto page.

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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.

    @wormholecrypto 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

    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
    October 18, 2021 at 5:43 pm

    Earlier this month, Serum’s next steps towards decentralized governance was announced. We are delighted to see so much enthusiasm and activity on the Serum Community Forum.

    The pieces are coming together, and it’s time to put words into action. Serum’s DAO Voting platform is now live and voting is open.

    How it Works

    The voting structure is straightforward: 1 SRM is 1 vote.

    The DAO Voting Platform UI may be familiar to many, but here is a quick guide to the object level jargon:

    • realm — an instance of the DAO
    • governance — an address governed by the DAO (e.g. a token account or program upgrade authority)
    • proposal — an action to vote on, e.g., transferring tokens or upgrading a program

    Governance parameters are as follows:

    – 100,000 SRM to create a “governance”

    – 25,000 SRM to create a proposal for the treasury

    – Maximum of 3 days for voting

    – Yes-Vote Threshold: 1.3% (1.3% of 1% of the total supply, or around 1.5 million)

    – Instruction timelock after vote: 0 days

    When a proposal is first uploaded, it is in a draft phase. The proposer will need a signatory to sign off to make the proposal active for voting.

    Please note that a vote will automatically “tip” (i.e. pass) if greater than 1/2 * 1.5% * total_supply vote yes. In this case, the voting period will stop, regardless of whether the 3 days have passed.

    This will not be the one and only voting structure for Serum. SRM and MSRM holders can look forward to voting rules with greater sophistication in the V2.

    Next steps

    Developers may want to check out what’s being built on the newly created governance program “addin” feature. The purpose of this change is to support voter weights provided by an external program: this feature is important for e.g. allowing the ability to vote with locked tokens and MSRM. This addin feature will also allow for the introduction of a council multisig for making fast decisions, e.g., program upgrades in the event of a security vulnerability

    Your vote matters!

    Thank you again for your support, commitment, and constructive conversation in the Forum. One recent and hotly discussed topic revolved around a liquidity mining program to grow the Serum ecosystem.

    Discussions on the Forum can be moved to the DAO Voting Platform once ready. One proposal has already been submitted (by Atrix).

    Your contributions matter! Head over to dao.projectserum.com to vote now.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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

    Go to Source
    Author: Serum

  • solbot

    Member
    October 19, 2021 at 4:08 pm

    We are excited to announce the launch of the Serum Portal, another major step towards Serum’s vision of becoming the go-to portal and financial ecosystem for the wider Solana universe.

    Serum went live in August 2020 as a new, non-custodial decentralized exchange powered by Solana. Behind the scenes, Serum has been powering a rapidly growing ecosystem of decentralized applications ranging across financial services, data analytics, gaming, and more.

    Serum has always been about decentralization, empowering the community, and allowing for innovation by the many. This has been the case since Day 1.

    Hosting a Serum-based DEX or deploying the Serum Swapper are just some of the ways the community has gotten involved.

    The Serum Portal is a one-stop shop of Solana dApps which integrate with Serum’s matching engine and order book architecture and contribute to its massive shared liquidity. In this spirit, and in line with Serum’s roadmap (2.0) and decentralization goals, we want the community to be able to admire and fully access all of the contributions by Serum’s incredible developers and builders.

    The gallery from portal.projectserum.com

    The Portal currently displays two major categories of dApps which allow users to interact with the Serum central limit order book: a CEX-like trading interface, and an AMM/swap-like one.

    A traditional trading interface with an order book display on Bonfida
    An AMM-like display, the Serum Swapper component in action

    We are pleased to see so many teams make use of Serum’s open-source resources and take inspiration from what’s currently in the ecosystem to continue the train of innovation.

    All the dApps listed in the Portal are equally liquid, as they tap into the same markets on the main Serum order books. The volume generated from these forms of adoption scale favourably and accrue value to the SRM token. These interactions are also some of the drivers behind Serum’s massive shared liquidity — the same liquidity that composing projects can tap into and simultaneously contribute to, such that their builders can focus on other important aspects of their protocol without having to spin up their own liquidity or reinvent the wheel when it comes to matching orders.

    Where will Serum and the Portal go from here?

    The answer: many places, and your feedback and ideas will guide the way.

    Serum’s contributors will continue to improve, maintain, and update the dashboard closely as a primary portal into a burgeoning and exciting domain of the Solana ecosystem. There are many planned additions for the Portal, including powerful data analytics and trading statistics. We encourage discussion in the Community Forum as always.

    Do you believe your dApp, GUI, or program should also be listed on the Portal? Please reach out.

    We are always receptive to your thoughts and feedback. Let us know what’s on your mind.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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

    Go to Source
    Author: Serum

  • solbot

    Member
    October 20, 2021 at 7:47 pm

    Welcome to Serum Stories #14

    If farmers are the salt of the earth, then DeFi natives are the seasoning of blockchain. This week’s flavour of Serum Story is a bit floral and vibrant with change. We’re joined by the Tulip Protocol team, formerly known as SolFarm.

    Tulip Protocol, the Solana-based yield aggregation homestead for many, is the first yield aggregation platform built on Solana with auto-compounding vault strategies. Solana’s features allows for vault strategies which can compound frequently, meaning stakers benefit from higher APYs without requiring active management.

    Tulip recently emerged as a rebrand of SolFarm after tilling the soil and sowing community love, knowledge, and fresh yield well before they became first place winners of the Pyth prize track in the Solana Season Hackathon. senx from Tulip tells us the story and about their life on the farm.

    What’s up Next

    1. — What is Tulip?

    2. — The founding story

    3. — Hackathon stories

    4. — From EVM to SPL

    5. — Rebranding!

    6. — Education for all

    7. — Final words

    Interview

    1. For those who are not already in the know, what is your 30 second elevator pitch for Tulip Protocol? What’s your usual introduction?

    Hey guys, senx from Tulip Protocol (formerly SolFarm) here. We’re aiming to become the one stop shop for yield on Solana. We currently have Orca/Raydium/Saber farming strategies integrated and also offer leveraged farming on certain pairs and single asset lending for a lot of altcoin pairs. We have a few interesting managed vault strategies in development so follow us to keep up with our development progress!

    2. We would love to hear more about the founding story behind your team, as it were. How did you guys end up coming together to work on Tulip?

    Funny enough, the team knew each other through being part of a few crypto-focused Discord groups back in 2017. It was mostly some very prolific shitposting and trading talk that drew us together and here we are now.

    Back then, it was probably weird for people to think about working together fully remotely, but the past 2 years probably changed that for a lot of people due to the global situation. Definitely something to keep in mind as talent and friends can be found globally and there is absolutely no reason to restrict yourself to working in meatspace.

    3. Your team has come far. You’ve built out a hyper popular yield aggregation platform with auto-compounding vault strategies; and you were the winner of Pyth prize track for the Solana Season Hackathon. And congratulations, by the way.

    What was the thinking behind your project, back when it was called SolFarm, and in participating in the hackathon?

    I think the founding story for a lot of Solana dApps is similar in that we saw the opportunity to hop over from another chain to build a product fit that is currently missing.

    For us, we’ve collaborated on small projects on Ethereum and SolFarm is definitely the most successful project we’ve done. We started with auto-compounding, because even though it’s a relatively straightforward concept, it can become tedious to do it manually day after day. We simplify this for you so you can sit back and enjoy the yield.

    We joined the Hackathon with our leveraged farming product which launched in mainnet a few weeks after. It definitely helped to get awareness on the project and that side of the protocol is growing nicely (almost 200MM in lenders un-incentivized).

    4. You mentioned in an earlier conversation with us that your devs have done smaller EVM projects in the past before choosing to move into Solana! How was that transition? What did you see in Solana and Serum that prompted the creation of your protocol?

    On Ethereum, you have to plan your moves in DeFi pretty carefully because of gas costs since calling a contract for deposit/withdrawal will generally cost you $200 in gas for a round trip. On Solana, this isn’t really an issue so it makes the barrier of entry a lot lower. There are benefits to both chains but Solana is definitely more forgiving and beneficial for newcomers. The low transaction costs means we can also try other higher frequency strategies.

    5. You recently underwent a major rebranding, from Solfarm to Tulip Protocol! What was the thinking behind this change?

    SolFarm was originally a short form for “Solana Founding Protocol”. It wasn’t the most creative name, but it got the point across.

    As we developed the protocol and introduced the token, our brand also developed and leaned into the Tulip name. Eventually the scope of the project did outgrow the SolFarm name, and we felt the need to update the name in order to better align our brand image since a lot of people did know us from the token and got confused. We had a frontpage/UI update planned and decided to time the rebrand with that release.

    6. Your team has pumped out a lot of education material as well, including on Twitter and your Discord, which is simply wonderful. Who are the main readers of your educational content?

    When we started building on the project, we were somewhat surprised by the amount of users who were just native Solana users and weren’t just EVM migrants. With all the prerequisite knowledge that using DeFi requires, we decided the best way to approach it was to make some education articles.

    It serves as a primer for the users and feels more like an unbiased source. I think some users appreciate that there are resource articles rather than coming into a Discord and being given a pitch by the team members. It also helps us save support time by just having resources to link users to rather than having a community manager explain it over and over again.

    Also, having an article just lets users read it at their own leisure and come to their own conclusions. If they have any further in depth questions, then our team would be able to help them from there on.

    In general, people are quite keen to learn and we’ve watched some users develop their knowledge and that does make us happy; it’s like watching a classroom of kids graduate. We also began a program called “The People’s Farmer”, which I think a few other projects have adopted. Basically, we reward community members that take time out of their own schedule to go above and beyond in supporting and educating other users or some even go as far as creating their own material to help with explanations. Definitely a strong community growing around the Tulip!

    7. Any final words to the Tulip supporters?

    Definitely very thankful for all the support that we have received. We decided to do the project anon and without relying on existing resumes and pedigree, but rather meritocracy and anon in the spirit of crypto. It has definitely made it more difficult for ourselves but definitely happy to have won user’s support through that. We have a few other announcements coming out so definitely look out for that 😉

    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 Symmetry team and development through their Twitter, Discord, Telegram, and of course, their website.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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


    Tulip (formerly SolFarm) Brings Fresh Yield from Farm to Table: Serum Stories #14 was originally published in Serum Stories on Medium, where people are continuing the conversation by highlighting and responding to this story.

    Go to Source
    Author: Serum

  • solbot

    Member
    October 22, 2021 at 4:30 pm

    Welcome, readers, to Serum Newsletter #48! 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 $9.47B in trading volume since inception.

    This week, 65.6K SRM was burned — This is $459k worth at current prices.

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    Project Serum Portal 🆕

    The Serum Portal helps DEXs and AMMs powered by Serum to stand out!

    This is just the start. More and more content is coming to the Portal to make Serum the gateway for the wider Solana universe.

    Check the Portal out today!

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    Serum Voting is live 🗳️

    Your vote truly matters! Thank you again for your support, commitment, and constructive conversation around governance. Discussions on the Forum can be moved to the DAO Voting Platform once they’re ready!

    Head over to the Project Serum Forum here to learn more.

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    Tulip Interview 🎙️

    Tulip Protocol, the Solana-based yield aggregation homestead for many, is the first yield aggregation platform built on Solana with auto-compounding vault strategies. Solana’s features allows for vault strategies which can compound frequently, meaning stakers benefit from higher APYs without requiring active management.

    Tulip recently emerged as a rebrand of SolFarm after tilling the soil and sowing community love, knowledge, and fresh yield well before they became first place winners of the Pyth prize track in the Solana Season Hackathon. senx from Tulip tells us the story and about their life on the farm.

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    Raydium NFT Marketplace 🖼️

    You can now exchange NFTs directly from Raydium!

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    Clyclos Mainnet 🔜 Launch

    Get ready! The Cyclos Team is aiming for an Alpha Mainnet on Monday 25 Oct!

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    Solana Ignition Hackathon Voting 🏆

    Make sure to support your favourite project by vote!

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    Dialect Web3-Native Messaging 💬

    Do you also believe that Web3 messaging is a killer feature?

    “Mobile-first development @solana opens up an enormous new design space, & is the first chain we’ve seen with the performance to unlock more of the UX & polish of web2. Reaching a billion users means reaching them on their phones, & there’s lots of new work to do around this.” Chris, Founder of Dialect

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    Learn more about the mission of Dialect with the Tweet thread below 👇

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    Sonar Watch concludes its fundraising!

    Congratulations to the @Sonarwatch team on a fantastic raise!

    “Data analytics for traders and users within Solana is an important area of investment for this young sub-subsector. Sonar Watch allows users to track their DeFi portfolios using their public key. Sonar Watch are passionate about improving UX for DeFi on Solana. This is a great project and team and we’re excited to be building together in this ecosystem”

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    Pyth network partners with Gate.io

    “Providing users with accurate and reliable cryptocurrency price data is one of our top priorities at Gate.io. Over 6 million users around the world rely on up-to-date, reliable data when trading on our platform and as such we have partnered with Pyth network to ensure the best possible trading experience for our users.” Marie Tatibouet, CMO at Gate.io

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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

    @WormholeCrypto 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
    October 28, 2021 at 7:43 pm

    RiskSwap — Leading Solution for Decentralized Derivatives

    Welcome to Serum Stories #15

    Derivatives on Serum and Solana are hot, and for good reason. The ability to hedge, speculate, and lever up across positions is critical for modern finance as we know it today, and the same tenets carry over to the crypto realm. The derivatives space is a ripe and promising space to build in. Strong teams with industry backgrounds and ambitious visions for DeFi abound.

    This week’s feature guest is no exception. This week, we are joined by RiskSwap, a new team in the ecosystem building a suite of DeFi products including decentralized derivatives. RiskSwap recently announced the start of their Solana-based perps demo trading. Many have also been watching their performance throughout the Ignition Hackathon. What has RiskSwap, the multichain decentralized trading platform, been up to in the Serum and Solana domain? The team gives us the rundown.

    What’s up Next

    1. — What is RiskSwap?

    2. — Why build on Serum?

    3. — Founding story

    4. — Multi-chain support

    5. — From CEX to DEX

    6. — Offerings!

    Interview

    1. First, would you like to give people some background on what RiskSwap is, what you have built so far, and what your plans are for the Serum and Solana ecosystem?

    Long story short, RiskSwap is a multichain DEX that makes decentralized crypto futures and options trading more efficient by providing traders with advanced risk management and strategy-building tools, as well as a superior Central Limit Order Book execution model combined with a liquidity pool.

    On one hand, we’re building a platform that will meet the needs of professional traders. RiskSwap’s development and business strategy is backed by our extensive background of over 5 years in asset management, algorithmic trading, risk hedging at Algalon Capital — a hedge fund that combines algorithmic, DeFi, and stock market strategies. In other words, we perfectly understand what we do, why, and how.

    On the other hand, are also striving to welcome more newbie traders into the platform and onboard them with the help of user-friendly, low-entry point UI/UX to the underappreciated advantages of financial derivatives on the decentralized infrastructure of the blockchain.

    At the moment, we have already released a fully operational spot engine based on Serum and a perpetual futures demo with some basic functionality that was developed as a part of Solana’s Ignition Hackathon. The current version of perpetuals trading is our first step in making decentralized derivatives trading comfortable and efficient. In the near future, we will start adding new features including but not limited to price chart display, multiple markets (now only BTC/USDC market is available), funding rate engine, liquidation engine, Central Limit Order Book integration, information about recent trades and orders, and other GUI improvements.

    Later, we will implement quarterly futures, options, portfolio management, isolated margin, risk hedging, and other features — everything will be available on a single platform thus making the process of decentralized derivatives trading easy and accessible.

    2. That sounds great and exactly what futures and options traders need. Why did the RiskSwap team choose Serum to build a derivatives DEX? How did you make this decision and what were the key considerations?

    Serum is the central liquidity hub in the Solana ecosystem. Most trading activities on the Solana blockchain go through Serum, thus its users can be sure that the possible slippage is minimum, available trading pairs are many, and the liquidity level is high.

    Serum succeeded in creating an on-chain order book — a crucially important DeFi development that was so desired by the community but could not be implemented on the Ethereum blockchain due to low throughput. Solana succeeded in offering sufficient speed for an on-chain trading experience that is equally comfortable to that of CEXes.

    We believe that the Serum agnostic order book perfectly matches the goals of RiskSwap: to provide seamless, fast and, convenient derivatives trading for all user groups. For us, the main advantages of Serum based architecture are:

    • The team’s success in spot order book development;
    • High liquidity levels;
    • The team’s progress in developing the agnostic order book that will support derivatives trading.

    3. Speaking of the team. You mentioned that you have a solid history of building derivative trading strategies. How did you form RiskSwap and what led you all to build a decentralized derivatives exchange?

    Well, as we are traders ourselves and have some background in asset management. We understand that the current derivatives market infrastructure can be improved by more sophisticated tools on one hand and decentralized trading on the other.

    Globally, the market of derivatives outperforms that of spot trading by several times and currently processes over $2 trillion. At the same time, the decentralized trading market grew as well with Ethereum based protocols alone boasting over $80 billion TVL. This signifies a huge potential for decentralized derivatives trading: Ethereum-based dYdX protocol, for example, already has over $7 billion in daily trading volumes.

    We know perfectly well that some other DEXes are moving in this direction, and we will cooperate with many of them (cooperation is always better than the competition, you know), but our biggest advantage is that we realize what tools and features the end customer needs.

    Let me give you a quick example of our approach to options trading specifically: options and futures are commonly segregated; few platforms offer trading these instruments in one place. But options, being a hedging instrument, perform much better if they operate in the same environment as futures. Right now, market makers have to operate on several platforms to delta hedge the position by an underlying asset, which is inconvenient. For delta-neutral traders (volatility traders), it’s also not sufficient, which results in non-market pricing and low liquidity on many platforms.

    4. You have plans to support multiple chains, with Solana of course being the first. What led you to Solana first and why build on other chains?

    We started our development with Solana due to its high speed, throughput, and low fees. These are exactly the features traders need for comfortable interaction with dApps. Additionally, we see much potential in Solana because of the speed of its development.

    RiskSwap will ultimately support multiple chains. Multi-blockchain support allows us to offer the protocol to more users, overcome the liquidity issue by transferring funds from one chain to another, and get access to all assets within a single platform. In other words, a multichain approach is the future of the blockchain industry.

    5. The decentralized derivatives trading industry is still nascent but indeed very promising. How do you plan to grow trading activity on your platform? What do you think will push centralized derivatives traders into trading on RiskSwap?

    Let me start with the second question. Most people who trade derivatives on centralized exchanges nowadays are simply unaware of the decentralized alternatives that would help them gain full control over their funds.

    The main advantages of blockchain usage are actually clear to most market participants. They include permissionless operation and full control of funds. Even today, with stricter regulation and improved security on most CEXes, traders still bear counterparty risks and are deprived of full control over the funds. Namely, they may have their assets blocked by regulatory request, the exchange may be hacked, or the funds may be simply stolen as a result of malicious actions from the management side.

    Furthermore, CEXes have to obey regulatory rules; Binance, for example, recently had to delist tokenized stocks. Derivative DEXes have much more freedom from this point of view and gradually will start offering one-app access to trading crypto and traditional financial assets.

    We will combine features which are widespread in traditional finance with DeFi features. For example, our users will receive market maker incentives for adding liquidity to the USD staking pool, which is impossible on centralized exchanges. And at the same time, people will use the order book for settling transactions. The order execution speed, thanks to Solana’s advantages and throughput, will be sufficient for CEX-competitive trading speeds.

    Speaking of one-app trading, RiskSwap will allow traders to interact with all the necessary tools through a single interface. You will be able to transfer ERC-20 tokens to SPL thanks to our integration with Wormhole and use them as collateral for trading RiskSwap futures and options. The performance of various options strategies can be immediately evaluated using our position builder interface, and even delta hedging can be set up to minimize risks. No one else in the DeFi world has implemented this yet.

    With regards to the first part of your question, we will offer the community a wide range of opportunities to get incentives for adding liquidity or trading actively. All of these activities will be DAO initiated, e.g. the RiskSwap DAO will suggest some ideas for voting and further implementation, and it will use funds allocated for the DAO to incentivize the audience. We are considering a few interesting activities on the list including fee discounts, gamified onboarding with challenges and rewards, loot boxes with bonuses for different activities, trading contests, and more.

    6. What kind of products or risk management features do you think traders are most excited about in crypto?

    The development speed of new features is the most exciting for traders. Compared to the ossified TradFi sector, cryptocurrencies move much faster. Of course, traders like high volatility assets, which allows them to quickly increase (or lose) their capital. In general, we can say that the blockchain offers a huge list of tools, and everyone can choose what interests them. Deposits, venture capital, liquidity provision, insurance, market speculation, long-term investing, and much more.

    To offer instruments for efficient derivatives trading, RiskSwap will offer proprietary management tools that include:

    • A position builder –A powerful instrument that helps to assess PnL by simulating your futures and options positions, visualizing profits and losses, and exploring Greeks charts.
    • Portfolio Overview — A portfolio analysis tool that allows the trader to see consolidated trading results that include all futures and options trades.
    • Delta hedger –A tool for creating delta neutral trading strategies by utilizing a proprietary delta hedging mechanism and interface. It’s a very important instrument for every options trader, and no one in DeFi has created this before.
    • Singleblock — A tool designed to build up options and futures strategies with multiple different “legs” to mitigate position risks such as severe price movements by simultaneous bids executed as FOK orders.
    • Cross-margin and isolated margin — Traders will be able to choose if they want to use their entire margin for all trades or if they want to isolate it.
    • Multi-asset margin — Traders will be able to use different types of collateral for their trades. This feature may be very useful for people who do not want to exchange their crypto for USDC. Also, it may facilitate the creation of different positions. For example, if the funding rate rises, traders can use their BTC as collateral for shorting BTC perp. Generally, they will have a market-neutral position that earns a funding rate.

    All these instruments are designed to provide traders with better control over their risks and get exposure to more efficient trading.

    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 RiskSwap team and development through their Twitter, Discord, Telegram, and of course, their website.

    Getting Started with Project Serum

    Read Serum Roadmap 2.0

    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
    October 29, 2021 at 3:38 am

    RiskSwap — A Leading Solution for Decentralized Derivatives

    Welcome to Serum Stories #15

    Derivatives on Serum and Solana are hot, and for good reason. The ability to hedge, speculate, and lever up across positions is critical for modern finance as we know it today, and the same tenets carry over to the crypto realm. The derivatives space is a ripe and promising space to build in. Strong teams with industry backgrounds and ambitious visions for DeFi abound.

    This week’s feature guest is no exception. This week, we are joined by RiskSwap, a new team in the ecosystem building a suite of DeFi products including decentralized derivatives. RiskSwap recently announced the start of their Solana-based perps demo trading. Many have also been watching their performance throughout the Ignition Hackathon. What has RiskSwap, the multichain decentralized trading platform, been up to in the Serum and Solana domain? The team gives us the rundown.

    What’s up Next

    1. — What is RiskSwap?

    2. — Why build on Serum?

    3. — Founding story

    4. — Multi-chain support

    5. — From CEX to DEX

    6. — Offerings!

    Interview

    1. First, would you like to give people some background on what RiskSwap is, what you have built so far, and what your plans are for the Serum and Solana ecosystem?

    Long story short, RiskSwap is a multichain DEX that makes decentralized crypto futures and options trading more efficient by providing traders with advanced risk management and strategy-building tools, as well as a superior Central Limit Order Book execution model combined with a liquidity pool.

    On one hand, we’re building a platform that will meet the needs of professional traders. RiskSwap’s development and business strategy is backed by our extensive background of over 5 years in asset management, algorithmic trading, risk hedging at Algalon Capital — a hedge fund that combines algorithmic, DeFi, and stock market strategies. In other words, we perfectly understand what we do, why, and how.

    On the other hand, are also striving to welcome more newbie traders into the platform and onboard them with the help of user-friendly, low-entry point UI/UX to the underappreciated advantages of financial derivatives on the decentralized infrastructure of the blockchain.

    At the moment, we have already released a fully operational spot engine based on Serum and a perpetual futures demo with some basic functionality that was developed as a part of Solana’s Ignition Hackathon. The current version of perpetuals trading is our first step in making decentralized derivatives trading comfortable and efficient. In the near future, we will start adding new features including but not limited to price chart display, multiple markets (now only BTC/USDC market is available), funding rate engine, liquidation engine, Central Limit Order Book integration, information about recent trades and orders, and other GUI improvements.

    Later, we will implement quarterly futures, options, portfolio management, isolated margin, risk hedging, and other features — everything will be available on a single platform thus making the process of decentralized derivatives trading easy and accessible.

    2. That sounds great and exactly what futures and options traders need. Why did the RiskSwap team choose Serum to build a derivatives DEX? How did you make this decision and what were the key considerations?

    Serum is the central liquidity hub in the Solana ecosystem. Most trading activities on the Solana blockchain go through Serum, thus its users can be sure that the possible slippage is minimum, available trading pairs are many, and the liquidity level is high.

    Serum succeeded in creating an on-chain order book — a crucially important DeFi development that was so desired by the community but could not be implemented on the Ethereum blockchain due to low throughput. Solana succeeded in offering sufficient speed for an on-chain trading experience that is equally comfortable to that of CEXes.

    We believe that the Serum agnostic order book perfectly matches the goals of RiskSwap: to provide seamless, fast and, convenient derivatives trading for all user groups. For us, the main advantages of Serum based architecture are:

    • The team’s success in spot order book development;
    • High liquidity levels;
    • The team’s progress in developing the agnostic order book that will support derivatives trading.

    3. Speaking of the team. You mentioned that you have a solid history of building derivative trading strategies. How did you form RiskSwap and what led you all to build a decentralized derivatives exchange?

    Well, as we are traders ourselves and have some background in asset management. We understand that the current derivatives market infrastructure can be improved by more sophisticated tools on one hand and decentralized trading on the other.

    Globally, the market of derivatives outperforms that of spot trading by several times and currently processes over $2 trillion. At the same time, the decentralized trading market grew as well with Ethereum based protocols alone boasting over $80 billion TVL. This signifies a huge potential for decentralized derivatives trading: Ethereum-based dYdX protocol, for example, already has over $7 billion in daily trading volumes.

    We know perfectly well that some other DEXes are moving in this direction, and we will cooperate with many of them (cooperation is always better than the competition, you know), but our biggest advantage is that we realize what tools and features the end customer needs.

    Let me give you a quick example of our approach to options trading specifically: options and futures are commonly segregated; few platforms offer trading these instruments in one place. But options, being a hedging instrument, perform much better if they operate in the same environment as futures. Right now, market makers have to operate on several platforms to delta hedge the position by an underlying asset, which is inconvenient. For delta-neutral traders (volatility traders), it’s also not sufficient, which results in non-market pricing and low liquidity on many platforms.

    4. You have plans to support multiple chains, with Solana of course being the first. What led you to Solana first and why build on other chains?

    We started our development with Solana due to its high speed, throughput, and low fees. These are exactly the features traders need for comfortable interaction with dApps. Additionally, we see much potential in Solana because of the speed of its development.

    RiskSwap will ultimately support multiple chains. Multi-blockchain support allows us to offer the protocol to more users, overcome the liquidity issue by transferring funds from one chain to another, and get access to all assets within a single platform. In other words, a multichain approach is the future of the blockchain industry.

    5. The decentralized derivatives trading industry is still nascent but indeed very promising. How do you plan to grow trading activity on your platform? What do you think will push centralized derivatives traders into trading on RiskSwap?

    Let me start with the second question. Most people who trade derivatives on centralized exchanges nowadays are simply unaware of the decentralized alternatives that would help them gain full control over their funds.

    The main advantages of blockchain usage are actually clear to most market participants. They include permissionless operation and full control of funds. Even today, with stricter regulation and improved security on most CEXes, traders still bear counterparty risks and are deprived of full control over the funds. Namely, they may have their assets blocked by regulatory request, the exchange may be hacked, or the funds may be simply stolen as a result of malicious actions from the management side.

    Furthermore, CEXes have to obey regulatory rules; Binance, for example, recently had to delist tokenized stocks. Derivative DEXes have much more freedom from this point of view and gradually will start offering one-app access to trading crypto and traditional financial assets.

    We will combine features which are widespread in traditional finance with DeFi features. For example, our users will receive market maker incentives for adding liquidity to the USD staking pool, which is impossible on centralized exchanges. And at the same time, people will use the order book for settling transactions. The order execution speed, thanks to Solana’s advantages and throughput, will be sufficient for CEX-competitive trading speeds.

    Speaking of one-app trading, RiskSwap will allow traders to interact with all the necessary tools through a single interface. You will be able to transfer ERC-20 tokens to SPL thanks to our integration with Wormhole and use them as collateral for trading RiskSwap futures and options. The performance of various options strategies can be immediately evaluated using our position builder interface, and even delta hedging can be set up to minimize risks. No one else in the DeFi world has implemented this yet.

    With regards to the first part of your question, we will offer the community a wide range of opportunities to get incentives for adding liquidity or trading actively. All of these activities will be DAO initiated, e.g. the RiskSwap DAO will suggest some ideas for voting and further implementation, and it will use funds allocated for the DAO to incentivize the audience. We are considering a few interesting activities on the list including fee discounts, gamified onboarding with challenges and rewards, loot boxes with bonuses for different activities, trading contests, and more.

    6. What kind of products or risk management features do you think traders are most excited about in crypto?

    The development speed of new features is the most exciting for traders. Compared to the ossified TradFi sector, cryptocurrencies move much faster. Of course, traders like high volatility assets, which allows them to quickly increase (or lose) their capital. In general, we can say that the blockchain offers a huge list of tools, and everyone can choose what interests them. Deposits, venture capital, liquidity provision, insurance, market speculation, long-term investing, and much more.

    To offer instruments for efficient derivatives trading, RiskSwap will offer proprietary management tools that include:

    • A position builder –A powerful instrument that helps to assess PnL by simulating your futures and options positions, visualizing profits and losses, and exploring Greeks charts.
    • Portfolio Overview — A portfolio analysis tool that allows the trader to see consolidated trading results that include all futures and options trades.
    • Delta hedger –A tool for creating delta neutral trading strategies by utilizing a proprietary delta hedging mechanism and interface. It’s a very important instrument for every options trader, and no one in DeFi has created this before.
    • Singleblock — A tool designed to build up options and futures strategies with multiple different “legs” to mitigate position risks such as severe price movements by simultaneous bids executed as FOK orders.
    • Cross-margin and isolated margin — Traders will be able to choose if they want to use their entire margin for all trades or if they want to isolate it.
    • Multi-asset margin — Traders will be able to use different types of collateral for their trades. This feature may be very useful for people who do not want to exchange their crypto for USDC. Also, it may facilitate the creation of different positions. For example, if the funding rate rises, traders can use their BTC as collateral for shorting BTC perp. Generally, they will have a market-neutral position that earns a funding rate.

    All these instruments are designed to provide traders with better control over their risks and get exposure to more efficient trading.

    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 RiskSwap team and development through their Twitter, Discord, Telegram, and of course, their website.

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    RiskSwap — A Leading Solution for Decentralized Derivatives was originally published in Serum Spotlights on Medium, where people are continuing the conversation by highlighting and responding to this story.

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