Serum Report by Jesse

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

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