Serum x Mercurial: Strategic Partnership And On-Chain Swap Integration!

Mercurial Fi gladly announces its strategic partnership with Serum to collaborate on key projects to improve the utility and liquidity for assets on Solana.

This partnership starts with Solana’s first on-chain cross-protocol aggregator. Mercurial has integrated with Serum to allow users to seamlessly swap from any major stablecoins on Mercurial to Serum tokens with a single, low slippage transaction.

Mercurial and Serum will be collaborating on a range of important initiatives, including leveraging on Serum’s comprehensive liquidity, providing deep stable liquidity to Serum order books, as well as collaborating on mutual education content and community awareness.

On-Chain Swap Integration Between Mercurial And Serum

Serum is one of the largest liquidity sources on Solana and supports the broadest number of pairs with deep liquidity for many of them. Many other dexes in Solana also share liquidity with Serum dex i.e. Raydium — hence integration with Serum will also help us obtain liquidity from other dexes.

At Mercurial, we have some of the deepest liquidity and lowest slippage between all the major stables on Solana, which makes it a natural fit for integration with Serum!

To make the integration as seamless as possible, we have built a unique on-chain program that accepts the key input information from the frontend, handles the interactions between the Mercurial and Serum protocol on-chain and returns the value to the user.

Seamless Swaps From Mercurial Stables <-> Any Serum Token

As transparent and straightforward as any swap on Mercurial. Swap in a single transaction and have all the essential information — expected rate, transaction route, minimum received, and Mercurial and Serum LP fees.

Go from PAI -> BTC seamlessly

Or UST -> FTT with very low slippage!

You can directly buy a token like MER with PAI. Try it 👉 https://mercurial.finance/swap/PAI-MER

Benefits Of On-Chain Aggregation

One of the awesome features of Solana is allowing for UI-level composing of instructions. Still, in our testing, there are a few reasons why chaining the separate instructions on the frontend is not ideal for this specific use case. Here are some of the key reasons:

• Simplifies the instructions: The instruction to interact with the aggregator is quite similar to swap instruction. Users just send the data including (source_token, dest_token, source_amount, min_dest_amount) to the aggregator program.
• Solves the spill issue*: Comparing 2 cases in Figure 1, we see that the user using the aggregator will get 2002 MER after the transaction, and the user not using the aggregator will get 2000 MER + 1 USDC. We call this the spill issue that after the transaction, the user receives a small leftover in the intermediary token (USDC).
• Clarity of minimum rates and slippage: Because all the input tokens will be used, we have a very clear idea of the minimum rates and slippage for a given input number.

Fig. 1 Difference between on-chain aggregators and Chain instructions in UI

About Mercurial Fi

Mercurial is the Liquidity Platform For Stable Assets on Solana.

Website ♦ Twitter ♦ Discord ♦ Medium 

About Serum

Serum is a decentralized exchange (DEX) and ecosystem built on Solana that brings unprecedented speed and low transaction costs to decentralized finance.

Website ♦ Twitter ♦ Discord ♦ Medium ♦ Telegram

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