RiskSwap Enters a Strategic Partnership with Serum
Today, the RiskSwap team is pleased to announce the establishment of a strategic
partnership with Serum — a Solana-based protocol that combines the decentralization of cryptocurrency swaps with an on-chain order book used to deliver optimal orders to the app’s users.
To support the development of the RiskSwap decentralized futures and options trading, Serum issued RiskSwap a grant worth 10,000 SRM. We believe that the Serum agnostic order book perfectly matches the goals of RiskSwap to provide seamless, fast and convenient derivatives trading for all user groups. For us, the main advantages of Serum based architecture are the team’s success in spot order book development, high liquidity levels, and the team’s progress in developing the agnostic order book that will support derivatives trading.
Thus, RiskSwap already uses the Serum infrastructure for spot trading and is very likely to implement Serum’s agnostic order book for futures trading in the future.
Serum has also shared an interview with our team recently, so feel free to read it as well.
Understanding Serum
Serum is the central liquidity hub in the Solana ecosystem. Most trading activities on the Solana blockchain go through Serum, thus its users can be sure that the possible slippage is minimum, available trading pairs are many, and the liquidity level is high.
Serum succeeded in creating an on-chain order book — a crucially important DeFi development that we so desired by the community but could not be implemented on the Ethereum blockchain due to low throughput. While Ethereum is currently capable of executing around 15 transactions per second, Solana boasts speeds of around 65,000 transactions per second. Serum’s algorithm relies on the speed and efficiency of Solana for the bulk of its functionality.
Serum also supports cross-chain asset swapping. Traders can take advantage of the platform using their tokens held on other blockchains. For cross-chain swaps, transacting traders first need to send collateral to Serum’s smart contract address, which is readable on both Solana and Ethereum.
The RiskSwap derivatives DEX
RiskSwap is a multichain DEX that makes decentralized crypto futures and options trading more efficient by providing traders with advanced risk management and strategy-building tools as well as a superior Central Limit Order Book order execution model combined with AMM.
At the moment, we have already released a fully operational spot engine based on Serum and a perpetual futures demo with some basic functionality that was developed as a part of Solana’s Ignition Hackathon. The current version of perpetuals trading is our first step in making decentralized derivatives trading comfortable and efficient. In the near future, we will start adding new features including but not limited by price chart display, multiple markets (now only BTC/USDC market is available), funding rate engine, liquidation engine, Central Limit Order Book integration, information about recent trades and orders, and other GUI improvements.
Later, we will implement quarterly futures, options, portfolio management, isolated margin, risk hedging, and other features — everything will be available on a single platform thus making the process of decentralized derivatives trading easy and accessible.
In October 2021, RiskSwap also entered into a strategic partnership with HAPI and NEAR Protocol.
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