DeFi is expected to be 1120% of total TVL value in 2021, while Ethereum accounts for 70% of the market share in the DeFi sector at the end of the year, the cryptocurrency’s inability to grow allowed alternative solutions to emerging. Solana, on the other hand, saw tremendous development in this industry after recruiting hundreds of DeFi initiatives to its platform.
Serum, a newly created DEX that operates on the Solana platform as the ecosystem’s primary pillar, is one of them. Serum, which is fully interoperable with Ethereum, has the potential to become the single DEX to rule them all in the future.
What is the potential of that Serum attracting investors?
Serum is a decentralized cryptocurrency exchange based on the Solana blockchain, and simultaneously it is one of the first significant blockchain-based projects. It is also compatible with other cryptocurrencies such as Bitcoin, Ethereum, and USDT. Serum, unlike other DEXs, offers order-book-based trading, similar to those of centralized cryptocurrency exchanges. It can handle 50,000-65,000 transactions per second at baseline, which is Solana’s current TPS. This allows the DEX exchange to greatly enhance transaction speed and volume.
How does Serum work?
Serum’s network is supposed to function in a similar fashion to established exchanges in terms of facilitating transactions. Serum benefits from the Solana network’s speed and cost-effectiveness of transactions, as well as the ability to settle them on its blockchain.
What are the problems that Serum’s been solving?
- Fully Decentralized: Defi projects will no longer depend on centralized oracles, but can get data directly from decentralized oracles.
- Order Books: Serum DEX inherits the decentralization and automation features of AMM, and allows users to use limit orders.
- Cross-chain Swaps: The built-in Cross-chain feature makes it possible for users to exchange their assets between different blockchains.
- Stablecoins: SerumBTC and SerumUSD are 2 new stablecoins that are tokenized and not dependent on any bank.
Token Information
Token Metrics
- Token name: SERUM token
- Token Symbol: SRM
- Blockchain: Solana và Ethereum
- Contract: 0x476c5e26a75bd202a9683ffd34359c0cc15be0ff
- Consensus: Proof of Stake
- Giá hiện tại: 1.2$/ SRM
- Maximum Token Supply: 10.000.000.000 SRM
- Circulating Supply: 50.000.000 SRM
Token Allocation
- Ecosystem Incentive Fund: 27%
- Partner & Collaborators Fund: 27%
- Project Contributors: 22%
- Team & Advisors: 20%
- Locked Seed & Auction Purchaser: 4%
Token Use Cases
Buy/ Burn activities: All of the net fees on Serum go to an SRM burn
Transaction fees: SRM can be used to pay for fees. Holding SRM entitles you to a 50% discount on all Serum fees. One MSRM entitles you to a 60% fee reduction.
Governance: A limited governance scheme based on the SRM coin is expected to be included in Serum. While the majority of the Serum ecosystem will be immutable, some parameters with low-security concerns (for example, future fees) may be changed by an SRM token governance vote.
Staking Rewards: A node can be staked with SRM. Each node must contain a minimum of 10,000,000 SRM and at least one MSRM. SRM will be issued as staking incentives to each node from a pool of SRM.
Where to buy token SRM?
Users can buy directly on Binance, FTX, Gate.io, Upbit, Hitbtc, BTSE, Crypto.com.
Roadmap
Serum consists of 3 main phases:
- Phase 1: Launching SRM Token, listing some important exchanges and optimizing transaction speed & fees
- Phase 2: Perfecting the Cross Chain mechanism
- Phase 3: Expanding Borrow/Lending mechanism, AMMs, and increasing TVL field.
Investors & Backers
Partner: Serum has many famous partners in the crypto community such as FTX Exchange, Solana, Alameda Research, Kyber Network, TomoChain, CoinGecko, Aleph.im.
Core Team & Advisors
- Robert Leshner: Founder, Compound
- Sam Bankman Fried: CEO, FTX & Alameda Research
- Gary Wang: CTO, FTX
- Long Vuong: Founder & CEO TomoChain
