EcoSerum brings active investors, traders, and developers together to build the Serum ecosystem. Serum is only as strong as its liquidity, accessibility, and community. Stakers are active SRM holders committed to Project Serum's long-term growth and supporting the development of UX focused tools and applications.
The nodes recently voted in favor of the following proposition, creating an initiative to fund projects building on Serum coordinated by EcoSerum, one of Project Serum’s nodes. Furthermore, 2% of all Serum fees will be used to fund new projects through EcoSerum.
EcoSerum Grant Application Form: https://forms.gle/E3vJF7hWdRjuFYMm6
A public CRM by EcoSerum can be found on Trello.
See the list of previously awarded grants on Project Serum dedicated section: https://projectserum.com/grants
If you are building a new project on Serum, you can coordinate with EcoSerum on the following terms:
EcoSerum will have grants available for promising proposals. This will be funded primarily with 2% of all Serum fees. To kick start things, the EcoSerum Project Funding Pool (EPFP) has been seeded with 200,000 locked SRM tokens and 1 locked MegaSerum (MSRM).
These are (M)SRM tokens that are fully locked until 2021-08-01 and then unlock linearly over the following 6 years.
Any promising project will be eligible for a grant of between 1,000 and 20,000 unlocked SRM tokens to pre-launch.
Each project that receives a grant will get a further grant of SRM upon project launch. EcoSerum will decide on the second grant size post-launch depending on the project’s execution, ranging from 5,000 SRM to 100,000 SRM, locked 1-7 years.
For some projects general to Solana, there may be an additional 25 SOL granted for every 100 SRM.
Each project can choose to implement a fee/revenue model that is integrated into Project Serum. If they do, the Serum nodes will help in managing the project and its revenue:
There will be an SPL token minted for the project; call it TA.
100% of the revenue/fees/etc. of the project will go to a weekly buy/burn of TA.
The project team will be granted 20% of TA tokens; 1% unlocked, 19% with a 1-7 year lock.
In the case of a massive/complicated project and/or which does not come from the community’s blueprint, these terms are negotiable with EcoSerum.
1% of TA will be distributed to EcoSerum stakers, pro-rata, 1-7 year lock.
The other 79% of TA tokens will be distributed pro-rata to all SRM tokens staked (any SRM can be staked, whether locked or unlocked, and there is no minimum quantity). Unlocked SRM holders will receive unlocked TA; locked SRM holders will receive 1-7 year locked TA. Rather than giving one grant up-front, the locked TA will be distributed over the next 7 years to locked SRM.
The nodes will manage the entire process, integrating it into the SRM buy/burns and staking. The nodes will coordinate to help TA get listed on Serum with an IDO (initial dex offering) and supported by major Serum GUIs.
The nodes will coordinate to get liquidity providers to support TA markets.
The nodes will support it with standard node duties, including cranking, cross-chain support, and more.