As per on-chain investigator Zachxbt, the official Twitter account of Serum, a Solana-based DeFi project, which had a following of over 200,000, has been renamed to ‘Luka’.
It is believed that a different user has acquired the original Serum account since all previous tweets have been erased.
- ZachXBT disclosed through a screenshot of the account that its PFP avatar was replaced with Milady NFT and was utilized to encourage “shitcoins.”
- Serum was established in August 2020 by a consortium that included the Solana Foundation and collapsed Sam Bankman-Fried’s FTX and trading desk Alameda Research.
- Serum got funding from Multicoin Capital together with FTX.com and FTX US.
- Serum was once emphasized as a pivotal decentralized exchange platform and liquidity provider for Solana’s DeFi ecosystem.
- The incidents that led to FTX’s bankruptcy filing forced Solana DeFi projects like Raydium and Jupiter to end their association with Serum.
- Multiple exchanges, such as Upbit and Binance, deleted Serum from their platforms. Following that, the project’s native token, SRM, lost over 98% of its value since reaching an all-time high in September last year. It was assumed that the project had come to a halt.
- Afterwards, a community-created fork of Serum’s V3 program was introduced and changed to ‘OpenBook,’ which has over 5k followers on its Twitter account.
