Serum Monthly Recap - April 2022

April was an exciting month on Project Serum with a number of key announcements and developments.

Serum kicked off the second quarter with the launch of the NFT Ecosystem, Bahamas Hacker House, sponsoring the Riptide Hackathon, and new Twitter Spaces with projects like Cega and Rogue Sharks.

Read on to hear about everything that happened this month.

NFT Ecosystem Launch

Serum joined forces with Burnt Finance in April to launch a debut NFT collection and celebrate the release of the Burnt Finance Ignition Launchpad. The Ignition Launchpad is a no-code platform that lets users mint and sell generative NFT collections by simply uploading layers, traits and rarities without transaction or listing fees.

The NFT Ecosystem is a growing community of artists, creators, and fans who are passionate about non-fungible tokens and the new possibilities they offer. The launch of the NFT Ecosystem is an important step in Serum’s mission to make crypto more accessible and fun for everyone.

Whitelist Minting of #SerumSurfers began on April 19th and Public Sale Minting began on April 21st. With only 5,000 tokens available, the SerumSurfers sold out in 15 minutes.

Bahamas Hacker House at Crypto Bahamas

The Bahamas Hacker House took place in Crypto Bahamas Conference from April 24th-29th and host 350+ participants to learn about Solana and build on the platform.

Project Serum is excited to continue sponsoring events that provide value to the Solana ecosystem and help grow the community.

Serum Hackathon Winner at Riptide

The results from the Riptide Global Hackathon were announced earlier in April. The event ran from February 2nd through March 17th and saw 7,000 participants submit 550 projects to the judges. Google, Visa, Jump Crypto, Samsung NEXT, MonkeDAO, Mango, and Solana Ventures were category sponsors for the worldwide hackathon with a global prize pool of up to $5 million in awards and seed funding.

As part of the community prizes, Project Serum is excited to announce that DeCommas was the recipient of the Serum community prize.

DeCommas built an Automated Vault that runs Basis Trading strategy to generate yield on Mango Markets perpetual futures. The Automated Vault engages when the funding rate is positive and disengages when the rate is negative to avoid incurring losses.

Project Serum is excited about what this team accomplished in such a short time and can’t wait to see what they build next.

To learn more, check out the project here and follow DeCommas on Twitter.

Buy & Burn Mechanism Update

In April, the community voted to update the buy & burn mechanism for SRM tokens.

The rationale behind this change is to further align the interests of SRM token holders with the long-term success of the Serum DEX. By increasing the buy & burn rate, more SRM tokens will be removed from circulation, which should increase the value of remaining SRM tokens.

To learn more about the buy & burn mechanism, visit the Project Serum Forum.

Event Sponsorships

In April, Project Serum sponsored three events: the Miami Hacker House, the Taiwan Solana Hackathon, and the Bahamas Hacker House.

The Miami Hacker House was held from April 5th-10th and hosted 700+ participants from around the world. The event provided an opportunity for developers to learn about Solana, meet the core team, and build on the platform.

The Solana Hackathon 3.0 in Taiwan was held from April 23rd to build, network, and learn about Solana.

Twitter Spaces

Project Serum hosted 3 Twitter Spaces in April with team members from Cega, Burnt Finance, and PsyOptions!

• Cega joined the space to discuss how they’re building the next generation of DeFi derivatives
• Burnt Finance joined Serum for a Twitter Spaces discussion about the upcoming Serum NFT ecosystem and taught users how to mint their own SerumSurfers.
• PsyOptions joined the space to discuss PsyFinance v2 vault architecture, plans for the future, and more.

New Content Alert

You can now read transcripts from previous Twitter Spaces conversations right on Serum Stories. Every month, Serum hosts conversations with visionaries from all over the cryptocurrency and DeFi spaces.

If you missed a Twitter Space or just want to read through the conversation again, you can find transcripts of past Twitter Spaces on Serum Stories.

To stay up-to-date on upcoming Twitter Spaces, follow Serum on Twitter and stay tuned to our Stories page.