Serum Newsletter #28

Welcome readers new and old to the Serum Newsletter #28! 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/V9Xzqqxj

Burns and Staking Rewards

Project Serum has passed $4B in trading volume since inception, burned 1.4M $SRM.

This week 79,697.51 $SRM was burned and 19,922 $SRM was dropped on stakers. $967,997.82 at current prices. Last week 65,141 $SRM was burned and 16,284 $SRM was rewarded to $SRM stakers! This is $797,965 at current prices.

Serum DEX Growth

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 2

We take a closer dive into the Serum DEX CLOB and its crucial role in our ecosystem, before identifying a number of exciting and promising projects building on Serum.

TL;DR: Serum DEX is the core infrastructure powering financial and other major projects on the Solana ecosystem. Protocols with trading-related features benefit from being able to use Serum DEX’s central limit order book (CLOB) for trading, data, pricing, and risk management. One can build a myriad of sophisticated financial services on top of the DEX and all composing with each other to deliver synergistic value. Nevertheless, the entire ecosystem bottoms out at Serum DEX, which collects DEX fees that go to $SRM buy and burn. We identify a number of exciting and promising projects in the Serum ecosystem to illustrate our point.

Building on Serum and Want a Hand?

Ecosystem Updates

The Serum and Solana Ecosystem has had quite an eventful couple weeks. From the Solana Hackathon achieving 10k registrations to Pyth Network going live, and many of the protocols continuing to build out futures.

Pyth Network is being built by some of the biggest names in traditional finance and DeFi with the goal of providing the infrastructure for DeFi to support substantial growth in the market. This requires legally authorized access to unique data sets, sub-second update speeds, sophisticated outputs and aggregation methods, and a thorough incentive system to ward off spurious or malicious data breaches.

The objective of this competition is to get traders and bot authors involved in a Serum DEX competition to show who is best and win some juicy prizes. Spectators can trade along with their favorite traders throughout the process and become more familiar with on-chain trading. In addition to trading manually on Serum DEX, we want to show users that they have another option and it’s incredibly easy to trade programmatically.

Introduction to Serum integration and Solana development workshop

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!

Serum is a decentralized exchange (DEX) and ecosystem built on Solana that brings unprecedented speed and low transaction costs to decentralized finance.