Our team finds rent-seeking genuinely distasteful, which is an odd trait for people building financial infrastructure. So we designed the business so there is nothing to rent-seek on.
We charge after we are useful, not to become useful. When the fee comes, it will be nothing any human has ever thought off. Nothing hidden before it.
Nearly everything we build is open source, and settlement is trustless and non-custodial. Vault ships with emergency withdraw. Your stablecoins can never be stuck, even when humanity perish.
We are moving towards a server-less architecture so everything can run autonomously. Maximum value to users, minimum extraction from them. That is the whole operating model, on @ethereum.
We can ship fast and solid thanks to our team and other core contributors who are alumni of:
How does @seraprotocol make money?
We make money by creating impact to the world.
We believe as more and more currencies go onchain, they all need a place to exchange. As they start exchanging, anyone who provides liquidity will earn the spread.
The returns you get fluctuates with maker and taker volumes. Right now it’s 20%+ APY.
We were victims of what could have been the world’s FX settlement protocol (@terra_money). We’ve met people who understood what we are doing, invested in us, supporting us and growing with us.
As we build, we realise we are back to 2017 @ethereum, when @VitalikButerin first posted about the genesis of @Uniswap:
https://t.co/hnNWrBkDwV
As we rebuild FX Onchain, on Ethereum, we will keep open sourcing what we’ve built to strengthen the ecosystem:
1/ Open Source Settlement Price Oracle for FX
- not RFQ, not reference rates, actual settlement rate onchain
2/ Open Source Stablecoin Payment Gateway
- so we can all make global payments, merchant payments, online payments, offline payments, at the cost of 0%, $0 and instant (seconds!)
3/ Open Source KYT/KYA for Compliant FX transactions
- updated from over 160+ sources, works with industry standards like https://t.co/isPIDQ2HES (that combines traditional KYC, KYB and other risk indicators)
4/ Open Source ZK-Circuit for FX (Sera’s Quasi L2 release)
- so all txns can be $0, instant, frictionless stablecoin payments, users does not need to have ethereum:native, ETH-L1 compatible issuers does not have to re-issue on our L2
5/ Open Source Orderbook
- so users can see our emergency withdrawal mechanism, which means even if Sera is down or the team is dead, you can withdraw anytime on the contract level
6/ Open Source Point of Sales for Merchants
- so merchants can accept Stablecoins, pay salaries, expenses and earn yield on idle money
7/ Open Source eWallets
- so anyone can build their own branded wallet, introduce global loyalty programs powered by Stablecoins, enhance their existing neobank or fintech business
8/ Open Source Lending, Yield, Earn, Savings
- so anyone can build, customise, grow, define their own parameters and tailor their strategies
9/ Open Source Launchpad
- so crowdfunding platforms, especially for the common good, underserved victims, entrepreneurs and the greater society can raise funds in stablecoins globally
10/ Open Source Arbitraging Tools
- so anyone can hedge FX, draft FX contracts, define swaps, snipe good deals
11/ Open Source https://t.co/x782liL9MA DEX
- so anyone can build their own stablecoin DEX
+ many more as we rebuild DeFi FX on Ethereum
All code bases will be LIVE on https://t.co/x782liL9MA’s GitHub and will be supported by a growing base of core contributors (currently at 10+):
https://t.co/4hYUvQaFz0
This is a glimpse of what’s to come. We wish the best journey for anyone and everyone coming onchain.
We’re bullish with ERC-4337, EIP-8141, EIP-8288 and many other advancements especially in the next 2-3 years of Ethereum’s development - formally verified, quantum resist-ed!
dinner with @DouglasGan and the @seraprotocol team and evangelist
remember to look out for us when your in token 2049 to talk about the future of stable coin fx
added glasses in because not all of us is fully doxx but there in our table is @scarlettesoh@DouglasGan@KensheexX@Kevonlau
and thanks @suejean_lee for the good photography
At TOKEN2049 Singapore tomorrow. Looking to meet payment providers, liquidity partners, and operators who want a real Malaysia entry point. Skip the pitch deck, bring the use case. DMs open.
22.6M MYRT on-chain volume 🎉
Less than 4 months after launch on 13 June, MYRT has crossed 22.6M in on-chain volume. In early August we were at 13.5M.
MYRT started from a simple problem. People and companies abroad hold USD stablecoins, but in Malaysia they need ringgit to buy property, pay their team or set up a business. Too often the only way in was informal P2P.
MYRT gives that money a proper route in. A limited purpose ringgit stablecoin, backed 1:1 by ringgit, built compliance-first.
Collect from the world. Spend in Malaysia. 🇲🇾
🌐 https://t.co/ygANf7pl87
#MYRT #Stablecoins #Malaysia
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