Bonfida’s Weekly Newsletter 2/03/2021
Welcome to our weekly newsletter!
We are glad you are here. We have got a lot to talk about:
— $1 Billion Dollars Volume
— Highest Daily Volume
— Oxygen IDO
Just to name a few key points.
Key Performance Metrics:
This month the Serum DEX went back-to-back with its largest monthly volume of $487,308,796 USD, this was up 44% from January with its total of $339,281,032 USD.
With the enormous increase in monthly volume the largest increase in daily averages was recorded with $41,743,678 USD this is up 500% from the previous week. That previous week the average was only $6,951,533.
Contributing to this milestone was the largest daily volume at $153,508,072. This milestone was achieved on the 23rd of February which corresponded with the launch of Raydium. The metrics this week are difficult to analysis due to Raydium which has brought an increase in usage to the Serum DEX’s. I will discuss the relationship between Raydium and the DEX’s later.
$1+ BILLION USD INCEPTION VOLUME
This week the Serum DEX achieved a milestone with its first ever billion dollars in inception volume. It took some time to get here but the next billion dollars inception volume is coming sooner than the last.
HIGHEST DAILY VOLUME ACHIEVED
This was achieved on the 23rd of February. This was a total of $153 million USD, this was an masssive increase and we will look forward to beating it in the near future.
The Oxygen IDO will be held on Serum on March 16th. We will be releasing more Information regarding the Oxygen IDO will be released this soon.
This month a total of 61,438 FIDA was burnt. This equates to roughly 90k USD in value.
Including the pools that were initialized and the amount burnt here, a total of 462,180.50 FIDA were removed from circulation. This amount is up another 50% from the previous month.
Developments & Explainers:
UNDERSTANDING BONFIDA WITHIN THE SERUM ECOSYSTEM
We have welcomed a lot of new members on the Telegram community this week and we are frequently asked, what does Bonfida do within the Serum Ecosystem.
Well, we have got an article for it here: https://bonfida.medium.com/bonfida-what-we-do-dc56c5c3779e.
An analogy we can use for the Ecosystem is that it contains many pieces of the puzzle, that come together to provide a unique function to the bigger picture.
Thank you for taking a moment to keep up to date with Bonfida newsletter.
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None of the above is financial advice.
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FIDA is not offered within the United States or prohibited jurisdiction.
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