Thread by @GoneMultichain

#SolanaSam

Readers might remember, as outlined in #SerumExplained, how "Serum is the key plumbing infra in the Solana ecosystem." (@tmnxeq
dixit) and how its CLOB allows for unparalleled composability and capital efficiency.
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https://twitter.com/tmnxeq/status/1437125014990606339?s=20

It so happens that SBF, FTX and Alameda are the minds behind $Serum, and that they decided to launch it in $Solana instead of #Ethereum.

At the time, people were like...
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They did so because a CLOB is possible on $Solana because of its high scalability, supporting 50,000 tps vs Ethereum's 18, what turns into near-zero fees in Solana vs "$2 for touching a button" (would be $200 today).
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It is worth remembering what a groundbreaking decision this was, at a time when $Solana was #306 in the marketcap ranking with merely $12 million Mcap

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Fastforward to today,
- FTX has listed or IEO-ed dozens of tokens in the Solana ecosystem ($SLRS, $RAY, $MER, $MAPS, $MNGO...) ,
- Alameda Research has funded a good handful too ($PRT, $FIDA, $UXBT ...).
- $Serum provides grants, created sollet.io and Anchor.
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So this is how SBF made a visionary and controversial bet on project and became #SolanaSam.
Today, we fondly refer to projects he's involved in as "Sam Coins".
His genius paves the way for crypto in general, and $Solana in particular, to reach out to the next billion users
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Sauces:
coinmarketcap.com/historical/202…
alameda-research.com
messari.io/screener/alame…
theblockcrypto.com/post/103610/ft…
and @tmnxeq , the Perpetual Alpha Machine.