Serum
  • Welcome
  • Introduction
    • Overview
    • Serum Ecosystem
    • Solana
    • SRM Token
  • Serum Ecosystem
    • 🛠️Build on Serum
      • Project Ideas
      • EcoSerum Grants
      • Tutorials and Concepts
      • Listing and Adding Markets
      • Host a GUI
      • Node List
    • 📈Trade on Serum
      • Ecosystem
      • Trading GUIs
    • ❓Get Help / FAQ
      • Changes to Staking
  • Guides
    • Wallet Support
      • Wallets
      • Exchanges
      • Using Sollet (sollet.io)
        • Creating SOL Wallet
        • Depositing Funds
        • Managing your Wallet
        • Using Sollet with Ledger Nano S
        • Converting ERC20 to SPL tokens
    • Trade on Serum DEX
      • Connect your Wallet
        • Connect with Sollet
        • Connect Ledger Nano S with Sollet
      • Trade
        • Trade on Bonfida
      • Avoiding Scams
    • Wormhole Token Bridge
    • Using Symmetry Swap
    • Providing Liquidity to Pools
    • Staking
    • Multisig
    • Governance
      • How to Vote
      • How to Create a Proposal
  • Appendix
    • Philosophy
    • Serum Core
    • Fees
    • Media
  • More
    • Github
    • Website
    • Discord
    • Telegram
    • Twitter
    • Youtube
    • Weibo
Powered by GitBook
On this page
  • Why Serum?
  • Composability
  • Speed and Usability
  • Orderbooks
  • True Decentralization
  • Bridges
  • Founders
  • Our Ultimate Vision for Serum

Was this helpful?

  1. Appendix

Philosophy

This guide lays out the philosophy and primary objectives of Project Serum.

PreviousHow to Create a ProposalNextSerum Core

Last updated 4 years ago

Was this helpful?

Serum is an answer to a number of conceptual challenges encountered during DeFi summer of 2020. Among these challenges include driving mass adoption at the scale of 1 billion users.

Why Serum?

Composability

This is not a unique feature to Serum, yet it is essential. Composability means that any application building on DeFi can automatically integrate every other one as if it was native. Every project starts as if it had already built out its own full service financial ecosystem. Builders and users can stitch protocols together to build something greater than the sum of their parts.

Speed and Usability

DeFi is slow and expensive. Trades are expensive and are slow to clear. Hence, customers prefer the cheaper, faster executions of CEXes. Serum runs on blockchain, however, which brings the ability to process 65k transactions per second at block times of 400ms and at costs of $0.00001 per transaction.

Solana has plans to further . An on-chain orderbook is now possible, paving way for a powerful ecosystem of decentralized financial services on par with TradFi giants.

Orderbooks

Users will reap the advantages of an on-chain orderbook—the ability to choose the price, size and direction of your trade. Furthermore, the matching of bids and offers is fundamental for all financial transactions.

Builders can join the Serum ecosystem and leverage what the Serum DEX can offer. Networks like Ethereum, on the other hand, are currently too expensive and slow to support an orderbook due to operational complexity.

True Decentralization

Most DeFi protocols ultimately rely on a centralized exchange API, tribunal of token holders, or the protocol team itself for oracle data. Serum abides by the principles of decentralization without sacrificing speed or usability:

Permissionless

Anyone can create SPL tokens, add markets to the DEX, host a GUI, and trade.

Fully On-Chain

Fully Non-Custodial

Tokens only travel between users' personal wallets and on-chain programs which behave deterministically.

Bridges

Bridging across to Solana negates that friction and still allows for the value to settle back to the Ethereum network if so chosen. Ultimately, teams need not encumber themselves to a single chain if they want to leverage the community of one chain with the performance of another.

Founders

Project Serum is built by the Serum Foundation, a group of experts in cryptocurrencies, trading, and decentralized finance. While they have built the Serum protocol, it is permissionless–they do not hold special power anymore.

It is up to you, the crypto community, to use it as you will.

Our Ultimate Vision for Serum

On-chain code:

GUI code:

Code for interfacing with the DEX:

The orderbook and matching engine are all on-chain, thanks to blockchain. Serum DEX does not rely on a centralized server to match trades.

Solana has introduced , a secure, decentral bridge connecting Ethereum to Solana. Wormhole allows existing projects, platforms, and communities to move tokenized assets seamlessly across blockchains to benefit from Solana’s high speed and low cost. Interoperability unlocks network effects and allows for the most efficient use of resources.

Solana
scale these specs
Open Source
https://github.com/project-serum/serum-dex
https://github.com/project-serum/serum-dex-ui
https://github.com/project-serum/serum-js
Solana
Wormhole
An Ultimate Vision for SerumMedium
Logo