Serum Newsletter #4
Welcome back to Serum Newsletter! In this fourth edition, we will be covering the latest developments in the Serum and Solana ecosystem as well as some of the milestones we’ve achieved.
On the 2nd of November, Serum hit a total of $100M USD in volume, excluding Serum Swap. For those keeping track, Serum has only been live for 64 days. That’s approximately $1.5M per day on a DEX built on a blockchain that isn’t Ethereum.
In the previous newsletter we covered the launch and basics of Serum Swap, an AMM built on Serum. Since the launch 14 days ago on 27th Oct, we’ve managed to hit $10M USD in TVL.
5 airdrops out of 20 have occurred so far with an estimate of 17 days to go, so head on over to swap.projectserum.com to get a piece of the action.
UI Upgrades
You now view the $ value of the liquidity you’ve provided as well as the fees you’ve earned on Serum Swap!
There’s also now a search bar on Serum!
SRM Burn
The latest SRM buy/burn. Net fees on Serum go to a weekly buy and burn, reducing the total supply of SRM.
To meet this growing demand, the Audius team specced or built proofs of concept with over 20 L1 and L2 scaling solutions. After this research, Audius has selected Solana — a high performance L1 blockchain capable of 50,000 transactions per second with costs as low as $0.00001 per interaction — to help scale the network.
Audius is an unstoppable decentralized streaming protocol which has seen tremendous growth since its launch in Sept 2019. It is now home to over 700,000 monthly active users (MAUs), almost 100,000 tracks, and millions of streams each month.
Previously, creating SPL tokens (the Solana equivalent of ERC20s) were a complicated process. Now with the launch of the SPL Token Creator we’ve lowered the barriers to innovation. If you require any help with the Token Creator feel free to join our Discord community.
Bonfida updates Serum API documentation, again!
The Solana Wormhole hackathon has been live with over 1000+ builders currently participating. Keep up with the progress by watching the Fireside Chats and Office Hours with Sam and Anatoly!
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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 anyway we can!
