Serum Newsletter #17
We’re back for installment 17. As the Serum and Solana Ecosystems continue to heat up, it’s our pleasure to provide you these weekly updates so you can get as excited we are!
The New Staking + Lockup Deployment is Live on Mainnet-Beta
“Some new developments. These programs now work with any token. The UI currently whitelists SRM + MSRM. But if you want other tokens added. Let me know. In achieving this, SRM and MSRM have been decoupled in the staking program. So to stake SRM, you only need SRM, no MSRM required. Rewritten in https://github.com/project-serum/anchor.
The source can be found here https://github.com/project-serum/anchor/tree/master/examples/lockup.
This has several benefits I’m happy to discuss if people are interested, but most importantly, it is much easier to audit the security of these programs now. As a result, I’m much more confident in the latest deployment — although, every program that hasn’t been professionally audited, or even better, formally verified, is subject to vulnerabilities with a non-trivial probability, so as always, use at your own risk. * Staking parameters have been adjusted. For example, unstaking SRM has a 1 week timelock and entering the SRM pool costs 500 SRM.
Note that rewards can be dropped by anyone — either manually or automatically via programs that compose with the staking program. However, I don’t currently have a plan for funding rewards, although I would guess eco-serum would play a role here, though I don’t speak for it. I’ll keep the channel posted on any updates w.r.t. staking rewards.”
Core Serum developer — Armani Ferrante
Oyster Lending is Live on Mainnet Beta
Decentralized borrow lending on Solana that brings ease of use, capital efficiency and cheap network fees to users around the world.
Star Atlas
A grand strategy game of space exploration, territorial conquest, political domination, and more.
MAPS IEO, IDO and Listing Information
MAPS token listed on February 1st on FTX, Bitmax, Gate, Uniswap, and Sushiswap — just several days after the FTX and Bitmax IEO’s on January 26, and one hour after the Serum IDO on Bonfida that same day.
Users are clearly exuberant for travel and financial accessibility, with MAPS tokens flying out the venues.
As for Bonfida, we first note that by January 19th, the Bonfida Maps pool hit its max capacity. Bonfida’s IDO on February 1st also represented a last chance for hungry users to get in on an auction format right before listing. The IEO prices clearly made a lasting impression: even though listing started at $0.10, bids swarmed in to lift MAPS to the upper 50’s, before stabilizing around $0.52-$0.54 across FTX, Bitmax, and Gate. A healthy volume of >5mm MAPS was traded in the first 5 minutes on BitMax. FTX experienced ~$6mm of total volume in just the last 12 hours, and even Gate garnered $1.26mm of volume in that same timeframe.
For MAPS to have such an explosive start portends a promising path towards massive DeFi adoption, as presale tokens remain locked for 7 years to lock in long-term participants and investors eagerly await Maps.me’s full rollout of its embedded wallet.
Episode 4 of The Antidote — Audius
Roneil is a software engineer with a passion for music, it’s this passion combined with his intelligence that make us strong believers in the scalability of Audius. At the moment the music streaming platform has 1.8m monthly users, this is particularly impressive for a true p2p streaming platform. With Audius musicians truly own their content and can engage directly with their audiences while receiving detailed analytics on every song.
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 aid in any way we can!
