Serum Newsletter #27
Welcome readers new and old to the Serum Newsletter #27! As the Serum and Solana ecosystems grow we make sure to provide you information on all the updates and interesting things that are being built.
Serum Discord: https://discord.gg/fQZ5sjKm
Burns and Staking Rewards
Project Serum has passed $3B in trading volume since inception, burned 1.2M $SRM.
This week 55708.39 $SRM was burned and 13927.10 $SRM was dropped on stakers. $657,359 at current prices. Last week 89,466.08 $SRM was burned and 22,366.52 $SRM was rewarded to $SRM stakers! This is $1,055,699.74 at current prices.
Serum is seeing a powerful inflow of new users and the metrics across all the Serum GUI’s are going through the roof!
We’re also seeing consistent $100m volume days on the DEX which has in turn caused large buy and burns and staking reward drops every week.
Serum, SRM, and an Ecosystem for the Future — Part 1
TL;DR: Serum DEX is the plumbing and infrastructure for financial projects building on the Solana ecosystem. Protocols with any trading-related features benefit by sending their bids and offers to Serum DEX’s central limit order book (CLOB). The advantages are Solana’s ultra low costs and latency, combined with Serum’s liquidity which is bolstered by some of the largest market makers including Alameda and Jump. $SRM holders benefit when projects add liquidity and volume to Serum DEX, as DEX fees go towards buy and burn. This model showcases how Serum will flourish. Our friend, Raydium Protocol, is an illustrative case.
Another one you don’t want to miss reading:
Star Atlas NFT Launch
Global Solana Hackathon
New Projects Entering the Ecosystem
We want people and gamers from everywhere in the world to discover blockchain use cases in a fun and educating way. To achieve that ambitious goal, we have chosen to be powered by Solana and to use Serum for our in-game marketplace. Solana is a lightning fast blockchain with almost zero fees which will allow players to benefit from a qualitative gaming experience.
Today we’re thrilled to unveil Jet Protocol, a borrowing and lending protocol built on the Solana blockchain. We’ve seen the acceleration and adoption of cryptocurrencies and their blockchain platforms over the past 4 years as a result of hard work and perseverance through a long and difficult bear market. We believe the primary driver of this latest explosion of interest and usage of blockchains is DeFi, and we are extremely excited about where its potential lies.
If you have any questions or wish to build in the Serum ecosystem please feel free to reach out to us at email@example.com. We’re always happy to answer questions or aid in any way we can!