Exploring the Serum Ecosystem: March Edition
Welcome to the 1st edition of Exploring the Serum Ecosystem.
This article is designed to bring you up to date on key developments within the ecosystem. With these developments we will clearly explain what it means for the ecosystem and how it interconnects various entities in the ecosystem.
Let’s see how far the ecosystem has come this month!
DEX V3 & SWAP V2:
This month saw Serum rollout a series of upgrades. This saw the DEX & SWAP was upgraded, this upgrade focused on a series of backend improvements that work to improve the functionality of Serum.
Serum launched its governance voting program. This is an upgradeable program governed by a multisig that can upgrade itself! Governance is a key part within the ecosystem, having this function allows those involved to have a key say in the direction Serum goes.
The launch of on-chain staking ticks another achievement off the roadmap for Serum. Before on-chain staking Serum could have been staked on FTX and BitMax. Those participate in staking are rewarded 20% of Serum DEX fees and paid weekly.
Get involved: https://stake.projectserum.com/#/stake
120 PROJECT ON SOLANA AND COUNTING!
A complete list of all projects on Solana: https://solana.com/ecosystem
This month Solana welcomed:
PARISQ integration with Solana is now live on their web portal
CIVIC announces plans to migrate their identity infrastructure to Solana.
USDT IS NOW NATIVELY SUPPORTED ON SOLANA
This enables USDT holders will be able to exchange USDT at speeds greater than 50,000 transactions per second — often for less than $0.00001 per transaction — on the Solana network. The launch of native USDT on Solana saw the Serum DEX to migrate new markets across to native USDT pairs.
SOLANA’S MAINNET TURNS ONE!
13 billion transactions, 69 million slots, 63 million blocks, and 55 trillion hashes later, the Solana mainnet beta turns one year old
Bringing bots to a DEX is a first in this space. This month Bonfida was able to cross off another roadmap ambition of bringing automated trading strategies to the Serum DEX.
Moreover, TradingView is natively supported by Bonfida Bots, this means that any TradingView strategy can be automated on Serum in just a few clicks. See this tutorial to learn more about the TradingView integration
The great thing about Bonfida Bots is that anyone can create a bot and have other users use it. If the bot wins a trade, you can earn a % of profits.
To find out more: https://bots.bonfida.org/#/
FIRST GOVERNANCE VOTE:
One of the utilities of the FIDA token is its governance voting. This allows holders to have a say in the development of Bonfida. The first vote was to add OXY to the SECO POOL. The vote was a majority in favor of this action.
This month the ecosystem welcomed Oxygen. Oxygen is a DeFi Prime Brokerage Protocol and cross-chain decentralized wallet that has launched on Serum/Solana. Oxygen will bring borrow and lending to the Serum Ecosystem.
At the end of February, we welcomed Raydium to the ecosystem. Raydium is an AMM that will provide liquditiy to the Serum Orderbook. This liquditiy provides a key piece of the puzzle that is the Serum Ecosystem.
THE LAUNCH OF FUSION POOLS
Fusion Pools are a step further towards driving ecosystem-wide liquidity and enabling projects to grow. In the coming months, Raydium will be working to link up with more burgeoning projects and further expand community reach.
The timing and incentives for Fusion Pools will be aligned in collaboration with partner projects, meaning some pools may represent longer or shorter term opportunities depending on the project. The speed, dedication and innovation of the ecosystem has us bullish that even more projects will soon be leveraging the advantages of Solana and Raydium to create some serious fusion.
That means you’ll receive farming rewards in both RAY, as well as the project token for the pool you’re staking. While future Fusion pools will not necessarily all have dual yield rewards, Raydium aims to offer this feature on pools where feasible. We probably don’t need to go into much more detail about why this is exciting, other than that we see it as an amazing opportunity to benefit both partner and Raydium communities.
So now, with Bonfida, Kin, Maps.me and Oxygen leading the way for Fusion pools, Raydium continues on the path towards growing the ecosystem, providing even greater liquidity, and as a pretty solid bonus, launching with dual yield.
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None of the above is financial advice.
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