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SBF
@SBF_FTX
6) I tweet a lot, too, and usually it's semi-random, prompted by whatever was on my mind. Collecting, processing, and sharing information, bit by bit.
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SBF
@SBF_FTX
7) But, sometimes, there's a larger arc. Sometimes we telegraph it; even when we do, it often falls on deaf ears.
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SBF
@SBF_FTX
1) twitter.com/SBF_Alameda/st
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SBF
@SBF_FTX
8) FTX has grown a ton over the past year: it's now trading $5b/day, and it's been weeks since a day where BitMEX had higher volume. It's ready, as a product, to be more widely exposed. But that's a story for another day.
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SBF
@SBF_FTX
10) So what _does_ Serum have? Well, it's on Solana. Solana can currently take about 50k tps, and can stake to 1m+ over the next year or two. And that's important! Because the next thing Serum has is a DEX.
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SBF
@SBF_FTX
12) In fact the Serum DEX alone, in the last 6 months, has processed more transactions than Ethereum has in its entire history. (Which is also why ETH2.0, rollups, and other scaling solutions are potentially huge!)
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SBF
@SBF_FTX
14) There's an NFT exchange (solible.com). There are wallets (serum-academy.com/en/wallet-supp), AMMs (swap.bonfida.com), and a tool to mint your own tokens (spl-token-ui.com/#/). And USDC is live on SOL!
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Jeremy Allaire
@jerallaire
1/13 Today, Circle rolled out full production support for USDC on the Solana blockchain for all of our customers. Things brings USDC to a fast moving ecosystem attracting innovations in DeFi and consumer apps. I explain more below in tweet thread. circle.com/blog/circle-ac
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SBF
@SBF_FTX
Replying to
@SBF_FTX
16) And, crucially, the primitives scale. The Serum ecosystem already scales more than any other DeFi ecosystem ever has, and in fact more than many are ever even trying to.
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SBF
@SBF_FTX
18) So you start by building a foundation that millions, and eventually billions, of people *could* use. That's what Serum has done so far.
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SBF
@SBF_FTX
17) So anyway: I don't want to overgeneralize too much here, but roughly speaking: If you build a product used by 1B people, that's worth a fortune. And how do you do that? I don't know, I've never done it before! But you have to identify something 1B people *could* use.
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SBF
@SBF_FTX
20) And this is sometimes the hardest part. The world is filled with products that die a slow death because no one ever really uses them. Huge userbases don't grow on trees. They are, often, the key.
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SBF
@SBF_FTX
21) So is Serum going to get 100m users? I can't tell you for sure. But it's sure as hell going to try.
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SBF
@SBF_FTX
22) 100m is a *lot* of users. It's more than Robinhood, and eTrade, and Coinbase, and Binance, and Slack, and Nissan, and DeFi. It's less than Facebook, and Google; there's always room to grow. It's also a bit less than the number of users of Maps.me.
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