1Q2022 Recap & 2Q Outlook

Serum Trading Volume Hits 2 ATHs in 2 Months

Serum started the year off strong by reaching a 24-hour trading volume All-Time High of $727.90m on January 24. As interest in the DeFi space has steadily grown, Serum’s lightning-fast transactions and high liquidity have attracted a steady stream of new investors, as demonstrated by this trading volume graph from December to January.

Incentive Ecosystem Foundation Funding

The Incentive Ecosystem Foundation raised $75m to support the continued development of the Serum ecosystem. With over 70 projects participating in the ecosystem, funds raised will not only drive new growth of the platform, but will also help cement Serum’s position as the core liquidity infrastructure for the Solana blockchain.

Convergence Hackathon 2022 Recap

Serum and Wormhole hosted the Convergence Hackathon from January 7 through February 6.

  • 783 participants
  • 97 projects
  • 20 workshops
  • 50+ judges
  • 246mm impressions from the media coverage

Main Prize:

  • 1st Place: Credix
  • 2nd Place: Companion
  • 3rd Place: Convergence RFQ
  • 4th Place: Vyper
  • 5th Place: Cashmere

Community Choice Award:

  • Winner: MacroBlock

Serum Award:

  • 1st Place: LIQNFT
  • 2nd Place: Metaversium

Wormhole Award:

  • 1st Place: Mayan
  • 2nd Place: Sentre

PsyOptions Award:

  • 1st Place: Sollar
  • 2nd Place: PsyOptions Planner

Pyth Network Award:

  • Winner: qPools

Atrix Award:

  • Winner: Paris Protocol

Terra Award:

  • Winner: Soluna

Twitter Spaces

Serum’s new and revamped Twitter Spaces have provided a great chance to showcase up-and-coming Solana and Serum applications. Twitter Spaces are a great way to dive deep into the fundamentals and technicalities of the protocols that populate these ecosystems and introduce the human voices behind the code. Serum hosted nine Twitter Spaces and will continue the series in the coming weeks.

Serum Ambassador Program Soft launch

Earlier this year, Serum soft-launched a community ambassador program for participants based in LA, Seattle, Singapore, Dubai, Moscow, and Prague to gain representation at Solana Hacker houses. By having ambassadors in these strategic locations, Serum greatly expands its footprint and attracts new talent and ideas to the project.

Serum Accelerator

Serum has officially launched its Serum Accelerator program with the Serum x Wormhole Convergence Hackathon winners. The Serum Accelerator was formally launched on February 23 via Twitter. The first cohort of protocols for this 10-week program features 13 participants ranging from DeFi, NFTs, and a combination of TradFi products.

Community Ukraine Donation

In light of the recent events in Ukraine, the Serum community donated $100K SRM to a decentralized Aid organization called Aid For Ukraine DAO. Aid For Ukraine DAO is a collaboration between the Ukrainian government, the Everstake pool, and the Solana blockchain. Donations to the organization will provide relief and support to those who’ve been affected by the war. You can donate to Aid For Ukraine DAO here.

Sponsorships & Events

  • MtnDao: the first ‘hack to ride’ hacker house for the Solana ecosystem in Salt Lake City, Utah. Over an entire month, 100 developers gathered from far and wide to collaborate on Solana projects.
  • Solana Riptide Hackathon
  • NYC Hacker House event

Featured on FTX podcast and Solana Riptide Livestream

JHL, a Project Serum Core Contributor, was featured on FTX podcast #97 and the Solana Riptide Hackathon Livestream. JHL gave great advice for new programmers looking to develop on the Solana ecosystem and valuable insight into Project Serum’s unique place in the DeFi landscape during his interviews.

Looking Ahead to 2Q 2022

Request for Project: Cross-chain Exchange

Headlining Bahamas Hacker House

The outlook for Project Serum in the coming quarter is bright! Serum will be headlining the Serum x Jump x Solana Hacker House — Bahamas Edition, taking place from April 24 through April 29 at the Baha Mar Conference Center.

Who Is Building on Serum During Q1? 🔧

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



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Project Serum

Project Serum is a decentralized liquidity infrastructure protocol. Learn more at https://projectserum.com