Liquidity hub Serum forked by developers after FTX hack
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)....
Related News
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....
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.
A So-Called....
The DAO hacker has moved his stolen Ethereum from the Ethereum Classic chain, donating part of it to the Ethereum Classic developers. The move of the stolen funds from the DAO hack occurred earlier this week. As his first action with the funds the hacker sent 1,000 ETC, about $1,500, to the address associated with Ethereum Classic’s development team, leading to speculation that the initial hack might have been motivated by a desire to fork Ethereum (which ended up being a result of the hack). Ethereum’s long and complicated hacking saga. The hacker exploited a vulnerability in the DAO’s....
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....
Serum (SRM) has struggled against tether (USDT) in recent weeks, rising above $0.8 as the price of Serum (SRM) remains range-bound. For weeks, the price of Bitcoin (BTC) fluctuated between $19,500 and $20,000, with the price stalling on the next movement. Most altcoins, including Serum, have been affected by this choppy movement (SRM). (Source: Binance) Related Reading: Polkadot Watch: Will DOT Succumb To Sharp Sell-off In Next Few Days? Serum (SRM) Price Analysis On The Weekly Chart The price of SRM has had difficulty replicating its recent bullish move, which saw the price rally to $3.5....