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Determining when to use SerDes



In reading the LVDS User's Manual it seems ideal to interface an FPGA with a SerDes and transmit data serially.  What is the main driver in deciding to use this approach as opposed to transmitting let's say 10 individual status bits over 10 LVDS pairs, at DC to very low speeds?  It seems the only advantage is cable weight, being that I would need to transmit over 5-10 meters.