Geez Axie Infinity, would you slow down and let someone else have some gains this week. With another almost 200% increase in price, runner-up Flow with 70% gains seems to pale by comparison. Whether this is due to naturally occurring price movement or a short squeeze on the remaining AXS tokens that haven’t been migrated to Ronin is still yet to be seen. Diving into the Solana ecosystem this week, we’re going to be taking a look at its first DEX Serum.
Introduction
The Serum DEX is a fully trust-less, fully decentralized exchange supporting full limit order books, fast order placement, cancellation, and fund management. Serum DEX’s goal is to bring the speed and convenience of centralized exchanges to DeFi while remaining fully trustless and transparent. Serum is built on the Solana blockchain, allowing for a fast, costless trading experience on par with CEXes. Serum is a high-throughput low-latency exchange that has a completely on-chain order book and matching engine. Serum also offers bridging with Ethereum via Wormhole as well as true decentralization. Serum prides itself on its composability to automatically integrate into any other DeFi application as if it was native to Serum. Builders can join the Serum ecosystem and leverage what the Serum DEX can offer. Networks like Ethereum are currently too expensive and slow to support an order book due to operational complexity. The order book and matching engine are all entirely on-chain, thanks to the Solana blockchain. This allows Serum to never rely on any centralized servers to match trades. The use of Wormhole allows existing projects, platforms, and communities to move tokenized assets seamlessly across blockchains to enjoy Solana’s high speed and low cost. This level of interoperability unlocks extra network effects and allows for only the most efficient use of resources. Bridging across to Solana negates friction and still allows for the value to settle back to the Ethereum network if chosen by the user.
Serum provides foundational infrastructure, allowing applications such as trading interfaces to ‘plug’ into Serum’s composable ecosystem. Serum lives in the heart of the ecosystem, with many other applications surrounding it and each with its own set of users. Anyone can create a consumer-facing application that leverages Serum’s liquidity and its thriving network. The choice to build on Solana is due to it being a fast, secure, and censorship-resistant blockchain providing the open infrastructure required for global adoption. Selected for its performance and technical innovations, allowing it to achieve extremely low transaction latency, high throughput, and low fees. With Serum being more of a tool for the development of additional products and services on Solana. The following protocols have been given grants and built from the ground up to support the Serum ecosystem. With the ultimate vision of Serum being to drive the global mass adoption of DeFi.
Aurory: An upcoming gaming platform based on the play-to-earn mechanism. There are many game modes planned for Android and iOS. The solo game mode is a J-RPG-inspired side scroller where the player fulfills quests, interacts with NPCs, and defeats opponents to advance the plot. Every creature defeated will be earned as an NFT in players’ wallets. These NFTs cards will be the core of Aurory multiplayer modes…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
