How is Serum used in Aver?
Traditional sportsbetting exchanges like Betfairs and Smarkets use a central limit orderbook model to match trades/bets. Following this implementation, Aver is the first project to build an orderbook based betting exchange on the blockchain.
This is partly possible through Serum where we were able to utilize their frameworks. Here’s how:
Serum’s SPL Token Iteration
Back in September 2021, Serum announced that they will launch a new version called the “Asset Agnostic Orderbook” (AAOB) to replace the Serum DEX implementation. So for our Devnet iteration, we built it with the SPL Token framework. However in our upcoming Mainnet launch, we will be using the AAOB (more on this in the next section).
Through Serum, Aver offers:
- a complete, non-custodial decentralized exchange running on an on-chain central limit order book (CLOB) on Solana’s mainnet.
- shared liquidity and power trading features for institutional and retail users
- a unique experience through resolving the traditional problems of DeFi: high gas costs, slow transactions, centralization, low capital efficiency, and liquidity segmentation
In action, users interact with Serum as they:
- Use Aver’s DEX
- View best asks and bids
- View outcomes of markets
- Withdraw positions as SPL tokens
- And so much more
For this iteration, we’re moving from SPL token representation of betting positions to a purpose designed and built model. Other newer and key features include:
- Enabling custom fees
- Supporting permissioned markets
You can read more about the AAOB here.
Stay in touch!
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Be careful of fake Discord or Telegram groups trying to impersonate Aver. The betting protocol is currently not tradable anywhere. Always verify that you are in our official channel or group.