Serum Roadmap 2.0

The path to scale, adoption and speed — continued

Accomplishments

Phase One

  • SRM was launched in August of 2020 on major exchanges.
  • The on-chain DEX proved capable of ultra fast settlement, extremely cheap gas fees, and spot trading.
  • Major market makers have provided liquidity since day one.

Phase Two

  • Solana cross-chain bridge: Wormhole — bi-directional bridge between SPL and ETH, support for Terra to follow.
  • An active wallet ecosystem emerged thanks to concentrated efforts on sollet.io wallet and, more recently, Phantom wallet (inspired by the former).
  • Anchor, a framework for Solana’s Sealevel runtime which provides several convenient developer tools which create a much easier experience for new builders on Serum.
  • A list of popularly requested Project Ideas with accompanying bounties.
  • Serum Swap as a codebase for others to build on.

Phase Three — Where Serum is Now

  • A new Serum Swap program that is built directly on the Serum orderbook (and is not an AMM). The program is an educational resource and starting point for people who want to write Solana programs to compose with Serum DEX.
  • A staking program accessible via web page where users can stake SRM on-chain for yield (locked and unlocked).
  • A multisig which will be used to govern program and IDL upgrades for Serum Programs, including the multisig itself.
  • Improvements to the sollet.io wallet, including a new sollet.io Chrome extension. The Swap (or ‘convert’) feature was added to sollet.io, allowing users to swap directly on Serum DEX. Developers can also host the Swap and receive a portion of all fees.
  • TradingView charts were added on dex.projectserum.com to create a more immersive and intuitive trading experience.
  • $5.51B of volume since inception
  • Regular $100M+ in daily volume
  • 969 Serum V3 markets as of June
  • Serum books are as thick or thicker than Binance or Huobi

What’s Next

  • Options for reduced fees; to be used in, for instance, stablecoin <> stablecoin markets: available for teams that are building stableswap protocols that compose with Serum
  • Permissioned markets: the ability to restrict which accounts can trade on a market
  • Automatic settlement using associated token accounts
  • Perpetual future products: 2022Q1–2022Q2
  • Borrow-lending, with support for a wide swath of collateral tokens: 2021Q4–2022Q1
  • Spot margin: 2022Q1–2022Q2
  • Decentralized cranking coordination so that new projects can avail of existing crank services
  • Fully decentralized Serum buy and burn
  • Scaling up grantmaking
  • Decentralizing the grantmaking progress
  • Building out standardized API interfaces to the Serum DEX and projects in the Serum Ecosystem, supporting REST, websocket, and FIX access
  • Onboarding CeFi partners
  • Market maker incentive programs, including for use by new projects composing with existing markets
  • Optimizing RPC server performance for common DEX operations

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Project Serum

Project Serum is a decentralized liquidity infrastructure protocol. Learn more at https://projectserum.com