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SBF
@SBF_FTX
Replying to
@SBF_FTX
8) We've spent the last months immersing ourselves in the DeFi ecosystem. I'm incredibly grateful to everyone of you who helped teach us, entertained our ideas, and connected us. And especially to those who empowered and believed in us.
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SBF
@SBF_FTX
10) Project Serum is a decentralized ecosystem built from the ground up to meet the world's needs. Serum is fast, and it's cheap, and powerful, and fully cross-chain compatible. And it's truly, fully trustless.
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SBF
@SBF_FTX
11) Serum is built on the
@solana
blockchain. Solana can process 10,000 times as much as Ethereum; and it's 1,000,000 times cheaper. And unlike many side chains, Solana is a fully fledged, decentralized blockchain with over 100 validators.
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SBF
@SBF_FTX
12) This allows Serum to have full central order limit books, with the familiar market, limit, and IOC orders; processing multiple times per second; all while being fully on chain.
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SBF
@SBF_FTX
13) This is then combined with a powerful cross-chain protocol allowing for trustless and efficient tokenization and swaps, meaning that while living natively on Solana, Serum is interoperable on Ethereum.
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SBF
@SBF_FTX
14) Toss in some cool new stablecoin designs, tokenized products, a fast, secure risk engine, and a fully modern exchange and financial ecosystem can live entirely on the blockchain. Together these let Serum's users have the experience they're used to on a centralized exchange.
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SBF
@SBF_FTX
16) Finally, there's SRM: the Serum token, a SPL (Solana based) token that powers Serum. 100% of net fees go to a burn of SRM, holders get discounts on fees, and SRM can be staked on nodes to help optimize the network's performance.
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SBF
@SBF_FTX
17) And, my favorite twist, MegaSerum (MSRM): 1,000,000 SRM tokens stacked together, with limited supply and bonus rewards. All of this will wield funds to build the ecosystem and a specialized governance model to support Serum.
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