Project Serum Launches $100 Million Liquidity Mining Program

Project Serum, a decentralized derivatives exchange for the Solana network, has launched a $100 million Liquidity Mining program as part of a broader effort to attract users to the ecosystem.

This project has been approved by decentralized autonomous organization of Serum or DAO according to the projectannounceon thursday It will be paid in the original Serum SRM token.

Liquidity mining is a powerful tool for the DeFi protocol as it motivates automated market makers and improves the overall operation of the network. Liquidity mining also refers to the process by which a project offers tokens to anyone willing to deposit. money in smart contract

Serum Protocol is uniquely positioned as Solana experienced significant growth in the past year, with its smart contract platform reaching a total market capitalization of nearly $60 billion. This makes it the sixth largest blockchain project in the world, and Solana Labs, a developer studio to incubate Solana projects, has raised over $314 million in a private token sale that concluded last month. June

In terms of Total Locked Value, or TVL, Serum Protocol ranks 11th among decentralized exchanges at $1.58 billion. By comparison, Curve has more than $18.8 billion in TVL, while SushiSwap, PancakeSwap and Uniswap each have more than $5 billion.

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