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Serum community foundation raises $100M from Tiger Global and others

The Incentive Ecosystem Foundation, a community-led foundation of Project Serum, has raised $75 million in a new funding round. Serum is a Solana-based decentralized exchange and liquidity infrastructure platform. Tiger Global, Commonwealth Asset Management, Tagus Capital, executives at Golden Tree Asset Management, and several other investors participated in the round. This was a token funding round where investors were offered a bunch of different tokens at a discount to their market price, JHL, a contributor to Project Serum, told The …

A surprising number of Solana projects are closed-source

Quick Take Of the $10.7 billion locked in Solana’s top 10 projects, around $5 billion sits with closed-source projects.  But Solana’s founders are pushing for projects to open up, and the message seems to be getting through.   This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.