Summer of S◎L: Serum is live, 2.5 billion transactions on mainnet, and more 🌞

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Summer of S◎L: Serum is live, 2.5 billion transactions on mainnet, and more 🌞

πŸš€ Serum Is Now Live! Trade Now on the World's First On-chain CLOB DEX
⭐️ Stardust Migrates its 70k MAU Gaming Platform to Solana
⛓ Coinbase Custody Partners with Solana, Now Supports Staking
πŸŽ‰ 30M Blocks & 2.5B Transactions on Mainnet Beta
⚖️ Wallet Overview - Increased Options for SOL Holders
🎩 Magic Integration - 
Passwordless Authentication for dApps
πŸ–Ό Results from the Meme competition, with Over 1400 Submissions

The First Decentralized Exchange with a Central Limit Order Book

On August 30th, Project Serum officially launched on Solana. The highly anticipated decentralized derivatives exchange is first of its kind, boasting an on-chain central limit order book and trustless cross-chain trading. With sub-second trade confirmations and fees as low as $0.00001 per trade, Serum doesn't just outperform other DEXs: it's more efficient than most centralized exchanges.

The initial listings included $BTC, $ETH, $XRP, $FTT, $SRM, $LINK, $MSRM, $YFI and wrapped $SOL against $USDT and $USDC. Upon Serum going live, Solana was seeing around 10,000 requests per second over the mainnet-beta RPC nodes. The Solana network is the only blockchain that can currently handle this type of throughput. 

Serum changes the game for DeFi and proves that cheap and ultra-fast transactions are possible on-chain when powered by Solana. 
Start Trading

The Solana Ecosystem Continues To Grow - Welcome Stardust

Stardust helps indie game developers create novel blockchain assets and use them in their games, regardless of their blockchain knowledge. Over ten games are actively being built with Stardust, and none of them are crypto-native. These games are being built by passionate game developers that want to unlock the power of virtual assets in gaming experiences. The largest game on Stardust is averaging between 50,000 to 70,000 MAUs and has had over 750,000 players in the last 12 months.

With the increase in growth over the past year Stardust started experiencing scalability issues with their existing L1 solution. They naturally started looking for alternative solutions to improve performance and decided that Solana was the only layer one protocol that fit their needs for cost and latency. 

The Solana Foundation is thrilled to welcome another project to the Solana ecosystem that brings the power of web-scale blockchain to everyday users. Be sure to check out the announcement from the Stardust team below!
Read The Announcement From Starudst

Coinbase Custody Now Supports SOL

The Solana Foundation has been working closely with the Coinbase team over the past few weeks to vet and integrate Solana into their custody platform. This partnership brings qualified custody to Solana to support growing interest among institutional investors. Now, in addition to Ledger and SolFlare, investors have the option to store their SOL in Coinbase Custody's offline cold storage system.

In addition to ironclad security, Coinbase Custody is backed by a comprehensive set of insurance policies that create a safer and more secure way for institutional investors to safely store SOLs.

Along with being a cold storage solution, SOL holders can also stake their SOL tokens thanks to a recent Bison Trails integration
Learn More About Coinbase Custody

30 Million Blocks and 2.5 Billion Transactions

Only six months have passed since our initial mainnet launch, and the Solana network has continued its rapid growth. We saw two major milestones in August, including crossing 30 million blocks and over 2.5 billion total transactions. 

If you're working on a DeFi project and bumping up against scalability issues, reach out to our team. We're actively helping top teams bring their projects to Solana. You can contact us at partners@solana.foundation with questions.
Review The Network

Crypto.com Listed SOL

On August 6th, Crypto.com did a surprise listing of SOL due to heavy demand from their community. With SOL added to the Crypto.com App, users can now purchase it at true cost with no fees—with credit card and bank transfer purchases both supported.

Since Crypto.com also offers a Visa Card, this adds additional utility to SOL as users can easily convert cryptocurrencies into fiat currencies and spend at over 60 million merchants globally.

A Rundown on SOL Wallet Options

The Solana ecosystem continues to grow at a rapid pace: As hundreds of thousands of new SOL holders join the community, the Solana Foundation is working diligently to create the best options for safely storing and interacting with SOL tokens. Below, we have a comprehensive list of available options sorted by category. See cold storage, digital wallet, and staking-supported wallet options below.

Cold Storage
Ledger Nano S - https://docs.solana.com/wallet-guide/hardware-wallets/ledger

Institutional Qualified Custodian
Coinbase Custody - https://custody.coinbase.com/assets

Digital Wallets 
SolFlare - http://solflare.com/
Sollet - https://www.sollet.io/
Trust Wallet - https://trustwallet.com/
Coin98 - http://coin98.app/

Staking
SolFlare - http://solflare.com/
Coinbase Custody - https://custody.coinbase.com/assets

Passwordless Authentication Magic

The Solana Foundation is excited to announce that passwordless authentication through Magic is now available for all Solana dApps. With just a few lines of code, you can now easily add simplified login to applications built on top of Solana. This integration will help streamline the continued adoption of the Solana network with easier options for authentication.

Magic interacts with the Solana blockchain via Magic's extension NPM package @magic-ext/solana. The Solana extension also lets you interact with the blockchain using methods from Solana's Javascript SDK.
View Magic's Docs

Unleash The Serum + Solana Memes

Earlier this month, Serum and Solana teamed up to host a meme competition to promote the launch of the Serum DEX. The power of our community was on full display, and over 1400 memes were submitted. The consistent creativity and enthusiasm of the Solana Collective continues to demonstrate why Solana has one of the best communities in crypto. Enjoy a few of our favorite memes from the contest!

Engineering Updates

The engineering team progressed at record speed this month, with the announcement of the Solana Program Library, the successful implementation of cross program invocation, and the fixing of myriad bugs on the Tour de SOL development network. The engineering team also worked on numerous developer experience improvements and shipped an assortment of releases.

Significant engineering updates are as follows:

To see a detailed history of the team's progress, take a look at our GitHub releases and give us a star!
August was another crazy month. Solana's creators, contributors, and community members didn't get much sleep during the final month of the Summer of S◎L. As always, thank you for your support and contributions—Solana is nothing without its community. Let us know which DeFi projects you'd love to see on Solana or get in touch if you're running into scalability issues on your own project.

As this mailing list continues to grow, it's important that we only bring the highest quality emails to your inbox. If you have any comments, questions, or feedback, please respond to this email.

We provide more frequent updates via Blockfolio Signal. Make sure to add Solana to your portfolio and turn on notifications.

Follow us on our various social channels below to get daily updates on what's going on in the Solana ecosystem.

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