In the crypto world, DeFi (decentralized finance) generates feelings similar to those felt during the 2017/18 ICO boom, when a rush of new companies sprang onto the scene, each promising fresh innovation and use cases. In retrospect, we can see that the vast majority of such projects failed or were outright scams that preyed on unscrupulous investors looking for a fast buck. Obviously, this does not apply to all projects, and many teams are still working on and delivering their distinct goals today. Cryptography is, after all, still a large-scale technological experiment. Serum, the world’s first decentralized derivatives exchange, is one of the most exciting initiatives in the crypto sector. It provides trustless cross-chain trading and intends to build a decentralized exchange. By placing orders on the Solana-based Blockchain, the Serum token appears to be exciting. However, the order book may just as easily be filled using classic rate-limiting systems. Sounds Interesting? Do you want to invest in Crypto Derivatives? While hungry yield farmers are preoccupied with food-themed DeFi protocols, Project Serum won’t be sitting about. Instead, it will discreetly develop a future-proof DeFi environment. This article will discuss what SRM is, how SRM works, and Serum (SRM) price prediction for 2021 and the next five years. What Is Serum (SRM)? Sam Bankman-Fried and experienced ETFs trader founded Serum. He also started Alameda Research, a cryptocurrency trading firm, shortly after leaving Jane Street in late 2017. Sam launched the FTX Bitcoin derivatives exchange in 2019. He’s also been a long-time member of the DeFi community. Some people consider him the community leader of the famed SushiSwap DEX. Sam and the rest of the FTX Exchange team were debating whether or not to develop a DeFi protocol. They intended to build a DEX, but they knew it wouldn’t be possible on Ethereum because of the network-intensive features they wanted. Because of its efficiency, the Serum team chose Solana (SOL), a blockchain, after analyzing a number of Blockchains. The serum is one of the most important projects on the Solana platform, and it works with both ETH and BTC. Unlike other DEXs, Serum offers order book-based trading, which is similar to those of centralized Cryptocurrency exchanges. The current TPS of the underlying Solana Blockchain is 50-65 000 transactions per second, therefore it can handle that. Currently, the Serum DEX has roughly 30 distinct Cryptocurrency markets, all of which trade against USDC. Using the instructions on Serum Academy, anyone may build their own DEX to accommodate more trading pairs. There are currently, over 18 Serum DEXes available, and the Serum DEX may be accessed using the Coin98 mobile app for Android and iOS smartphones. Moreover, the maximum quantity of SRM was capped at around 10 billion at the time of launch, with approximately 175 million tokens to be circulated and increasing to 181 million tokens after the IEO. How Serum (SRM) Works? It is important to remember that the Serum DEX is still in development, and its functionality will be determined by its future position in Project Serum. The three primary processes that support the Serum DEX are as follows:- Solana’s SPL token standard Serum’s interoperability protocol Serum’s SRM Cryptocurrency token SRM is a type of cryptocurrency that can be staked and used to pay fees. This allows SRM holders to save up to 50% on all trading fees. Furthermore, 90% of all SRM tokens are meant for long-term storage or lock-up. This is done in order to ensure that the team will last a long period. The SRM Cryptocurrency will be discussed in-depth in the next section. SRM Cryptocurrency On the Solana Blockchain, SRM is an SPL token, and on the Ethereum Blockchain, it is an ERC-20 token. It is primarily used for staking on the Serum DEX in Project Serum’s DeFi ecosystem. Staking SRM is necessary to run a Serum DEX’s validator node, and it can also be staked to lower DEX trade fees. One MegaSerum (MSRM) can be obtained by converting one million SRM tokens. MSRM holders receive additional benefits, and hosting a validator node is required and MSRM is also available as an ERC-20 token. SRM is used to manage the Serum DEX and future DeFi protocols inside Project Serum’s environment. With 68 percent of Serum fees, the SRM coin can be purchased and burnt. Serum USD and Serum BTC Serum USD is a decentralized stable coin (wrapped) with no single point of failure that follows both SPL and ERC-20 tokenizations for USD. Serum BTC is a utility token (wrapped) having a price that is linked to the underlying asset or BTC form. It’s also a Solana-based BTC token that’s completely decentralized. Price Analysis of the SRM Flashback: Historical Price Analysis of SRM Serum ($SRM) is a game-changing coin that will reconstruct the decentralized derivatives market and DeFi network. … Continued
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