8 Jul 2022 | Updated 2 Jan 2023 [services]

kayabaNerve teases 'Serai' Monero DEX

kayabaNerve1 is teasing2 Serai3, an upcoming cross-chain decentralized exchange for Monero and other coins built in Rust4, which will offer a liquidity pool trading experience:

After multiple months in development, I am happy to finally, and properly, announce Serai!

Unlike with other DEX platforms and atomic swap implementations, Serai users will not be required to run a node to provide liquidity or stay online until the exchange is finalized.

The DEX will initially support XMR, BTC, ETH, DAI and USDC. Apparently5 there are no plans to ever support fiat on the platform.

Trading fees will be paid to liquidity providers and block reward to validators, but the exact model is still being discussed.

Cake Labs6 announced plans7 to integrate Serai in Cake Wallet8 and Monero.com9, while QuerciaLabs10 offered11 to do a security audit for the project.

No ETA was provided for the public testnet, but we should have more news within a month or two, when it should be ready for initial testing.

Consult the associated Github repository12 for more details about Serai.

This is an ongoing story and the report will be updated when new information is available.

Update 22/7/9: the project is currently looking for developers, as suggested by kayabaNerve in a private conversation with MO: we are hiring accordingly. Contact via IRC13, Matrix14 or Discord15.

Update 22/7/25: kayabaNerve to present Serai DEX in Monero Meetup event on August 9th16.

Update 23/1/2: CypherStack begins Serai cryptography audit17.

  1. https://github.com/kayabaNerve ↩

  2. https://libredd.it/vudljh/ ↩

  3. https://serai.exchange/ ↩

  4. https://www.rust-lang.org/ ↩

  5. https://libredd.it/r/Monero/comments/vudljh/announcing_serai_a_new_dex_for_monero_bitcoin_and/ifd2jus/?context=3 ↩

  6. https://github.com/cake-tech/ ↩

  7. https://nitter.net/cakewallet/status/1545445445882765317 ↩

  8. https://cakewallet.com/ ↩

  9. https://monero.com/ ↩

  10. https://quercialabs.com/ ↩

  11. https://libredd.it/r/Monero/comments/vudljh/announcing_serai_a_new_dex_for_monero_bitcoin_and/ifdv9uq/?context=3 ↩

  12. https://github.com/serai-dex/serai ↩

  13. #serai:libera.chat ↩

  14. https://matrix.to/#/#serai:matrix.org ↩

  15. https://discord.gg/mpEUtJR3vz ↩

  16. /kayabanerve-serai-dex-monero-meetup-presentation/ ↩

  17. /cypherstack-serai-dex-cryptography-audits/ ↩