Monday, January 30, 2023

Project Serum allocates $100M to liquidity mining By Cointelegraph

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

The initial allocation was approved by Serum’s decentralized autonomous organization, or DAO, the project announced Thursday. The sum, paid out in Serum’s native SRM token, will be used as a reward mechanism for automated market makers that work directly with Serum’s on-chain order book.

Serum TVL has exploded over the past month in U.S. dollar terms. Source: defillama