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2) Pools are one of the key fundamental primitives of DeFi. Pools are places you store stuff, and tokenize the ownership.

3) For instance, AMMs are Pools. You store ETH + DAI in a Pool, and you tokenize ownership with an LP token. You can send back the LP token to get your ETH + DAI back. Uniswap Pools have a twist: anyone can send DAI to the Pool, and get back an equal % of its ETH.

4) Staking is a Pool. You put in the thing you're staking, get out the Staking Pool Token. You can either drop the yield _in_ the Pool (so when people redeem their Pool tokens they get it), or _on_ the Pool Tokens.

5) cTokens and aTokens are Pools. You send in USDC; the Pool lends it out, getting interest; and cUSDC / aUSDC go up from that interest. Then you can move cUSDC / aUSDC around as interest-bearing USDC.

6) YFI takes Pool tokens, and puts them in other Pools to create meta-pool-tokens, then puts them in Pools.... Yield upon yield upon yield.

7) But each of these have different structures, and building a _new_ Pool is hard. So Serum is making it easy. Coming in the next week are Pools, as a basic primitive. Customizable Pools.

3:00 AM · Oct 4, 2020Twitter Web App

8) What does this mean? Well, let's say you want to have an AMM, except with a different curve. That's fine! You can specify any curve you want in the address that controls the Pool's assets. Just modify what Uniswap's does.

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9) Or if you want to have an AMM trade on an orderbook? Sure! Have the address that controls the assets use them to send orders on the relevant DEX market serum-academy.com/en/dex-list/. Want to charge a remove liquidity fee? Sure, have the redemption function send 99% as much back.

10) Borrow/lending? Sure, have the Pool's asset control address decide how much you can take out. Margin AMM? Sure, have the asset control address take in an asset, send through borrow/lending, and then trade. Lockups? Sure, have the Pool's redemption function be on a timer.