Although rendered “defunct”, the team said there is still hope due to the ongoing community-led fork.
According to the announcement, “a community-wide effort to fork Serum is going strong”. OpenBook, the community-led fork of the Serum V3 program, is already live on the Solana Mainnet with over $1M daily volume, supported by continuous efforts to expand it and grow its liquidity.
The existence of OpenBook however poses a threat to Serum, because “with Openbook's existence, Serum's volume and liquidity has dropped to near-zero” as users and protocols prefer Openbook because it’s a safer option following the security risks associated with the “old Serum code” which was compromised in theWhen it comes to its SRM token, the DEX shared that the “future of SRM is uncertain”, as community members appear divided on the subject.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alameda Withdrew $204M in Crypto From FTX US Days Before Exchange Collapsed – Featured Bitcoin NewsAlameda Research reportedly withdrew the most funds from FTX US days before the crypto exchange filed for bankruptcy. cryptocurrency SBF
Read more »
FTX-backed DEX Serum calls itself 'defunct,' promotes community forkSerum, via its official Twitter clarified that it was no longer being used by major DeFi protocols on the Solana blockchain.
Read more »
BlockFi claims $680M in bad loans to AlamedaBlockFi was taken down by exposure to FTX and Alameda Research, the latter of which defaulted on $680 million of collateralized loan obligations, according to a bankruptcy filing.
Read more »
BlockFi not FTX, says company's financial adviserThe financial adviser to bankrupt BlockFi says there are no corporate governance issues at the cryptocurrency exchange and that management remains committed to doing the right thing.
Read more »
After FTX, Which Crypto Company Could Be Next To Topple?The FTX fiasco may only be the beginning. Here are ten red flags that there is more to come.
Read more »
Collapsed crypto exchange FTX to resume salary paymentsCrypto exchange FTX and its affiliated companies, which have filed for U.S. bankruptcy court protection, said on Monday most subsidiaries would resume ordinary course payment of salary and benefits to employees worldwide.
Read more »