Users can enhance their user experiences with trading interfaces by plugging them into Serum’s modular ecosystem thanks to the fully on-chain orderbook that Serum offers.
Serum functions as a liquidity centre for its ecosystem applications, each of which has its own technology and user base, and is located in the centre of the ecosystem. Users can take advantage of the Serum’s liquidity and its ecosystem advantages by developing trading applications like an AMM.
Several elements are combined in serum, including traders, creators, institutions, and developers.
What is Serum?
Decentralized exchange (DEX) protocol Serum was developed on the Solana blockchain by the Serum Foundation, which was founded by FTX and Alameda Research. Serum is a completely permissionless protocol that offers consumers the finest trading experiences with high speed and minimal transaction costs.
How does Serum work?
By offering seven key characteristics, Serum will introduce a fully decentralised exchange with trustless cross-chain trading.
SRM: Buy/burn costs will apply to the Serum native token, which will be completely incorporated within Serum.
Cross-chain Swaps: By giving the present DeFi ecosystem simple access to Solana’s speed and efficiency, this feature aims to give users a trustless exchange to transfer assets between chains (not working now).
Order-book: A fully automated, decentralised full limit orderbook that gives traders complete control over their on-chain orders’ sizes, prices, and directions. The matching engine has undergone numerous modifications as part of the Serum procedure to speed up and reduce the cost of matching orders.
Complete integration of Solana and Ethereum: Users may trade data quickly and efficiently with the help of this functionality, which is also compatible with the ERC20 tokens and the Ethereum ecosystem.
One of the most crucial aspects to give customers a complete trading experience in DeFi with synthetic assets is physically settled cross-chain contracts.
Using SerumBTC, you may tokenize Bitcoin using the ERC20 or Solana standards (not working now).
A model for developing decentralised stablecoins is serumUSD (not working now).
Detailed Information about SRM Token
SRM token key metrics
Name of Token: Serum
Symbol: SRM.
Solana is a blockchain.
the SPL token standard.
Terms of Agreement: SRMuApVNdxXokk5GT7XD5cUUgXMBCoAz2LHeuAoKWRt
Utility token is the token type.
Consensus: Evidence of Interest.
Supply total: 10 000 000 000 SRM.
Supply in Circulation: 50,000,000 SRM.
SRM Token Allocation
27% of the Ecosystem Incentive Fund
Fund for Partners and Collaborators: 27%
Partners in the Project: 22%
20% Team & Advisors
Purchaser of Locked Seed and Auction: 4%
SRM Token Use Cases
These are the primary functions of the SRM token:
Owners of SRM tokens have the ability to vote on suggestions for the project.
Node enables cross-chain transactions as a staking reward.
Fee: On the protocol, SRM Token may be used as a fee. All fees support SRM in some way.
How to get SRM Token
Customers can acquire SRM token by:
Buy on DEX and CEX.
Encourage users to stake, farm, or yield farm,…
How to buy SRM Token
SRM Token may be purchased on DEXs including Serum,… As an alternative, you can exchange other tokens for SRM via Coin98 Exchange.
How to store SRM Token
These steps can be used to store SRM token on Coin98 Wallet:
Open Coin98 Wallet and select Receive from the home screen in step 1.
Search SRM Token in step two.
Step 3: Select the appropriate outcome by clicking on it, copy the wallet address, and send SRM to that address.
Team, Investors
Team
Serum Team consists of:
Compound’s founder, Robert Leshner.
CEO of FTX and Alameda Research is Sam Bankman Fried.
Gary Wang is FTX’s CTO.
TomoChain’s founder and CEO is Long Vuong.
Investors
Numerous well-known companies, like Multicoin, Parafi, Alameda Research, Kyber Network, TomoChain, and others invest heavily in Serum.
Roadmap and Update
Direct Serum DEX enhancements
Options for lower fees, such as those employed in stablecoin Stablecoin exchanges are accessible to groups developing Serum-based stableswap systems.
Markets with account restrictions are known as “permissioned markets.”
settlement carried out automatically with related token accounts.
Serum derivatives:
Future products for all time: 2022 Q1 to 2022 Q2.
2021 Q4–2022 Q1: Borrow-lending with support for a variety of collateral tokens.
Margin of error: 2022 Q1 – 2022 Q2.
Decentralization:
Decentralized coordination of the cranking process, allowing current crank services to be used by new applications.
utter decentralisation Buy and burn serum.
EcoSerum provides:
expanding grantmaking
Grantmaking is being decentralised.
Institutional access and supplying liquidity
establishing consistent API interfaces for the Serum DEX and projects in the Serum Ecosystem
supporting FIX, REST, and websocket access.
bringing on new CeFi partners.
programmes that reward market makers, including those that new ventures can employ to complement existing markets.
improving the efficiency of RPC servers for common DEX operations.
Is Serum a good investment?
Market Prospects
By removing the challenges with DeFi, Serum will be able to capture this significant market share. Two categories that are now gaining traction and will do so in the future are cross-chain and DEX. The technology stated above will allow Serum to quickly and extensively expand.
According to FTX’s CEO, Serum’s decentralised ecosystem is also quick, affordable, strong, and user-friendly (10,000 times quicker and 100,000 times less expensive than Ethereum).
Competitors
In the DeFi market, Serum is in competition with other DeFi projects like Chainlink, Compound, Maker, and others.
If Serum wishes to succeed, it must be mindful of competition like Binance DEX, ETH’s iDex, Neo’s Nash, and TomoChain’s Tomodex.
Similar Projects
Built on the Solana blockchain, Raydium is an AMM and liquidity provider for the Serum decentralised exchange (DEX). As an AMM within Serum, Raydium has an advantage and will play a crucial role in integrating both new and existing projects and protocols into the ecosystem.
Conclusion
Coin98 Insights hopes you have learned everything there is to know about serum, including its benefits and salient points, from this article.
Join the Coin98 Community for further talks about cryptocurrencies if you have any questions about Serum or would like to learn more about it.
