An Ultimate Vision for Serum

Why DeFi?

  1. Buys ETH with USDC on Uniswap
  2. Sends ETH to Aave, lends it out, and borrows USDC
  3. Sends USDC to Uniswap, buys ETH
  4. Sends ETH to Aave, lends it out, and borrows USDC
  5. Sends USDC to Uniswap, buys ETH
The Bonfida GUI
  • Well, daily trading volume is around $10T. If 0.25bp fees reduced volume by 75% and otherwise 20% of the volume moved to a decentralized venue, the resulting volume would be about $500B/day.
  • That would result in $3B of annual revenue and a valuation likely around $100B.
  • Open access to APIs
  • Freedom to build GUIs, clients, etc.
  • Open search
  • Cross-posting between communities
  • Censorship resistance
  • Daily cost of $10k
  • Valuation of $30B
  • Daily cost of $100k
  • Valuation of $800B
  • Most of this is really easy to put on-chain
  • Blackrock alone has $100b valuation
  • So this could hit $500b total
  • VISA handles ~2k-50k TPS; scalable blockchains can handle this and has a $500b valuation
  • So we could have $1T valuation of credit card companies on-chain

Why Serum?

Solana

  • As the world’s technology grows, the blockchain’s throughput has to grow
  • If you click a button you expect it to take ~100ms or so to process on most products — a~1s lag would be really frustrating
  • Otherwise you lose a lot of the value-add for companies, meaning each industry will likely want to be roughly single-sharded

Serum

Wormhole

Where did Serum come from?

  1. Serum would be completed within two months
  2. Serum would never be more valuable than a moderately cool dapp.
  1. Stay the course
  2. Build on another chain

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Project Serum

Project Serum

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