Project Serum allocates $100M to liquidity mining
The Solana-based project is incentivizing automated market makers to interact with its order book across a range of trading pairs. Project Serum, a decentralized derivatives exchange for the Solana network, has launched a $100 million liquidity mining program as part of a broader effort to attract users to the ecosystem.The initial allocation was approved by Serum’s decentralized autonomous organization, or DAO, the project announced Thursday. The sum, paid out in Serum’s native SRM token, will be used as a reward mechanism for automated market makers that work directly with Serum’s....
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Crypto proponents and market observers can now gain insight into Solana’s and Serum’s liquidity infrastructure ecosystem via the analytics and decentralized indexing provider Aleph.im. The cross-blockchain computing project says the induction of Serum Markets will “help surface valuable trading data on Project Serum.” Aleph.im Adds Project Serum Support During the last quarter of the year, the Solana (SOL) protocol and its native asset saw significant growth. In the last three months, SOL has gained a massive 542% and the market cap has entered the top ten....
SRM and MSRM tokens and fees discounts were not changed and were working as before, said developers. Solana's developers forked the widely used token liquidity hub Serum, after being compromised by a hack on the bankruptcy exchange FTX on Nov. 11 that led to a series of unauthorized transactions. According to pseudonymous developer Mango Max on Twitter, a "verified build of the same version has been made and deployed" on Nov 12. Additionaly, the upgrade authority and fee revenues "have been changed and are now managed by a multi-sig controlled by a team of trusted developers." Serum (SRM)....
PRESS RELEASE. xSigma, a decentralized exchange for stablecoin swaps, has successfully launched on the Ethereum network on February 24, 2021. The integrated DEX and liquidity mining platform xSigma, which is backed by a NASDAQ-listed company, has seen great interest in its stablecoin liquidity pools which enable assets to be swapped seamlessly and with minimal slippage. Within the xSigma ecosystem, liquidity providers (LPs) earn SIG tokens, with a 2x bonus to bootstrap liquidity in place for the next fortnight. SIG is the platform’s native utility token with built-in voting and....
Ryan Taylor, head of finance at Dash, claims the bitcoin blockchain’s practice of paying the entire blockchain reward to miners is faulty, in a piece on EconoTimes. He claims Dash, which allocates less than half its rewards to the miners, offers a more promising future. Taylor said it makes no sense to devote all of the network’s resources to a single task out of many that are needed to sustain the network. The article was written by Brandon Kostinuk, the communications leader at Vanbex Group, a crypto marketing firm that serves Dash. What Dash Does. Dash allocates only the amount it deems....
According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that the exchange has fallen, it’s suspected that Serum’s upgrade authority is tainted.
**Editor’s Note: An update has been added to the end of this story at 6:50 p.m. (ET) on Nov. 13, 2022, to reflect that Serum devs have forked the protocol.
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