{"id":143026,"date":"2021-10-28T18:29:43","date_gmt":"2021-10-28T18:29:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143026"},"modified":"2021-10-28T18:29:43","modified_gmt":"2021-10-28T18:29:43","slug":"project-serum-allocates-100m-to-liquidity-mining","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/project-serum-allocates-100m-to-liquidity-mining\/","title":{"rendered":"Project Serum allocates $100M to liquidity mining"},"content":{"rendered":"<p>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.<\/p>\n<p>The initial allocation was approved by Serum\u2019s decentralized autonomous organization, or DAO, the project announced Thursday. The sum, paid out in Serum\u2019s native SRM token, will be used as a reward mechanism for automated market makers that work directly with Serum\u2019s on-chain order book. <\/p>\n<p>Liquidity mining is an effective tool for DeFi protocols as it incentivizes automated market makers to supply liquidity and enhance the network\u2019s overall operation. As a broader concept, liquidity mining refers to a process whereby a project offers its tokens to anyone willing to deposit funds into a smart contract. <\/p>\n<p>Serum Protocol is in a unique position given Solana\u2019s enormous growth over the past year. The smart contract platform has a total market capitalization of nearly $60 billion, making it the sixth-largest blockchain project in the world. As Cointelegraph reported, Solana Labs, the developer studio incubating Solana projects, raised over $314 million in a private token sale that concluded in June. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Solana DEX raises $18M Series A from Three Arrows Capital, Coinbase Ventures<\/em><\/strong><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/f0b40c93-f3e1-40fc-bab6-26dfa0e8d06c.png\"><\/p>\n<p>In terms of total value locked, or TVL, Serum Protocol ranks 11th among decentralized exchanges at $1.58 billion, according to industry sources. By comparison, Curve has over $18.8 billion in TVL while SushiSwap, PancakeSwap and Uniswap each have over $5 billion. <\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/project-serum-allocates-100m-to-liquidity-mining\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Project Serum, a decentralized derivatives exchange for<\/p>\n","protected":false},"author":3,"featured_media":143025,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Project Serum allocates $100M to liquidity mining - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/project-serum-allocates-100m-to-liquidity-mining\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Project Serum allocates $100M to liquidity mining - 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