Serum is a fast, scalable defi ecosystem contained within the Solana blockchain.
Sam Bankman-Fried, one of Swerve’s multisig holders, has generously offered (via EcoSerum) a grant for building a Swerve outgrowth on Serum/Solana.
The idea would be to build an AMM optimized for like-asset swaps that can be composed with Serum orderbooks.
The terms of the grant are as follows:
- Build out AMM composed w/ orderbooks on Serum
- SWRV SPL Wrapper
- SWRV Rewards split proportional to some utilization metric (TBD)
- 20k unlocked SRM to Swerve Treasury pre-launch
- 200k locked SRM to Swerve Treasury post-delivery
Building on Serum could offer slippage, speed, and tx cost benefits relative to Ethereum, and there would be ample room for collaboration as our two projects grow together.
Please note: this would be in addition to, and not replacing, Swerve on Ethereum. One special benefit to this proposal is that it would also lay some of the foundations for transitioning to Swerve’s own AMM implementation on Ethereum.