We are delighted to announce that the Serum DAO voted and approved a new Liquidity Mining Program starting with an initial allocation of $100M. This program aims to attract more users to Serum’s growing ecosystem and to encourage further development on the protocol.
This is great news on top of Serum’s recent growth momentum, including its Total Value Locked (TVL) increase by 350% over the past 3 months (having exceeding $1.5bn on October 12, 2021 and a more recent high of up to $1.9bn).
The program details are as follows: The DAO voted to allocate US$100M in rewards for AMMs that interact directly with Serum’s on-chain order book. SRM will be allocated to participating AMMs to be distributed alongside each platform’s existing token incentives. The program will be rolled out across multiple Phases. We cordially invite all Serum ecosystem participants to discuss and champion the next players in the program’s future Phases.
Phase 1 of this program will begin with Atrix Finance. The community looks forward to others joining the program too, including ecosystem favourites Raydium and Mercurial Finance. You can expect the program’s rollout to include the usual pairs such as BTC, ETH and SOL against USDC. Stable pairs are another area to look out for as more incredible players join in.
Project Serum has already proven that an on-chain order book is a key primitive for Solana-based “mass appeal applications”. Incentivizing AMMs to continue exploring ways to interact with Serum’s on-chain CLOB is a great way to bring more users onto the platform and benefit the protocol as a whole. The liquidity program positions Serum to reduce trading friction, increase composability and innovation, appeal to new users, and bring the Serum and Solana ecosystem closer to the symbolic goal of 1 billion users on-chain.
Thank you again for all your support for the Serum ecosystem’s development and the excellent, insightful discussions on the Serum Community Forum. These are the powerful, community-driven kinds of proposals we envisioned as primary drivers behind Serum’s continued growth.
Read Serum Roadmap 2.0
Listen to Sam Bankman-Fried’s breakdown of the Serum ecosystem