Exploring Serum (SRM)’s Best Features


Serum is often known as the “cryptocurrency of the people” because it focuses on giving power back to the average person. There are a lot of tokens in the cryptocurrency world, thus, Serum is one of the most interesting and innovative projects in the space. Serum is a project that is constantly evolving and adding new features. Below, we explore some of Serum’s (SRM) best features. In this article, we’ll cover Serum’s (SRM) focus on decentralization, unique staking system, and Atomic Swaps.

History of Serum (SRM)

Before we explore Serum’s (SRM) features, it is important to understand the project’s history. Serum (SRM) was created by Sam Bankman-Fried, the CEO of FTX and Alameda Research. Serum (SRM) is the world’s first decentralized derivatives exchange. The project was born out of the need for a more efficient and decentralized derivatives market.

Year one of Serum’s (SRM) development was focused on building the foundations of the project. This included creating Serum’s (SRM) unique staking system and launching Serum Testnet. In year two, Serum (SRM) will focus on launching Serum Mainnet, adding new products, and increasing adoption.

It was created in the year 2019. Serum (SRM) is different from other projects because it is truly decentralized. Serum (SRM) does not have a foundation, team, or investors. The community runs the project for the community.

What is Serum (SRM)?

Serum (SRM) is a decentralized derivatives exchange that focuses on giving power back to the people. If you’re not familiar with derivatives, don’t worry, we’ll explain what they are. A derivative is a financial contract whose value is based on an underlying asset. The most common type of derivative you’re probably familiar with is a stock option. Options give the holder the right, but not the obligation, to buy or sell an underlying asset at a set price on or before a certain date.

Now that you know what a derivative is let’s explore how Serum (SRM) plans to revolutionize the derivatives market. Serum (SRM) plans to do this by creating a truly decentralized exchange. Serum (SRM) will be the first derivatives exchange that is completely decentralized.

Unique Staking System of Serum (SRM)

Serum (SRM) has a unique staking system that allows users to earn rewards for participating in the network. Serum (SRM)’s staking system is different from other projects because it does not require users to lock up their tokens for a set period of time. Instead, Serum (SRM) uses a flexible staking system that allows users to stake for as long or as short as they want.

Serum (SRM)’s staking system is designed to incentivize users to participate in the network and help secure the network. Serum (SRM) rewards users with SRM tokens for participating in the network. The more you stake, the more rewards you earn. Serum (SRM) plans to use these rewards to help fund the development of the project and grow the Serum (SRM) community.

Atomic Swaps of Serum (SRM)

Atomic swaps are a type of trade that allows users to trade one cryptocurrency for another without the need for a third-party exchange. Atomic swaps are a key feature of Serum (SRM) because they allow users to trade directly with each other. This eliminates the need for costly and slow third-party exchanges.

Atomic swaps are possible because of Serum (SRM)’s unique staking system. Serum (SRM) uses a type of staking called stake-weighted volume to determine the price of each trade. This means that the price of each trade is based on how much each user has staked in the network.

The Serum (SRM) team is confident that atomic swaps will help Serum (SRM) become the leading derivatives exchange. Serum (SRM)’s atomic swaps are fast, cheap, and secure. And best of all, they’re decentralized.

Use Cases of Serum (SRM)

There are a lot of use cases for Serum (SRM). Since Serum aims to be the leading derivatives exchange, it can be used for a variety of purposes.

  • Hedging: Serum (SRM) can be used to hedge against the price of a cryptocurrency. For example, if you’re worried about the price of Bitcoin going down, you could buy a put option on Serum (SRM). This would give you the right to sell Bitcoin at a set price on or before a certain date.
  • Speculation: Serum (SRM) can also be used for speculation. If you think the price of a cryptocurrency is going to go up, you could buy a call option on Serum (SRM). This would give you the right to buy the cryptocurrency on a certain date you prefer.
  • Arbitrage: Serum (SRM) can also be used for arbitrage. Arbitration is the process of taking advantage of a price difference between two exchanges. For example, if the price of Bitcoin is $10,000 on one exchange and $10,500 on another exchange, you could buy Bitcoin on the first exchange and sell it on the second exchange. This would give you a profit of $500.

The most obvious use case is for trading derivatives. Serum (SRM) plans to offer a wide variety of derivative products, including options, futures, and swaps.

Risks of Serum (SRM)

There are a lot of risks associated with Serum (SRM).

Here is a list of risks:

  • Untested technology: Serum (SRM) is a new project that is built on untested technology. There is a risk that the Serum (SRM) network may not be able to handle the volume of trades that it plans to process.
  • Low liquidity: Serum (SRM) currently has low liquidity. This means that it may be difficult to buy or sell Serum (SRM) tokens.
  • High fees: Serum (SRM) charges high fees for trades. These fees may deter users from using the Serum (SRM) network.
  • No insurance: Serum (SRM) does not currently have insurance to cover the loss of user funds.

Decentralized exchanges have risks that traditional centralized exchanges don’t have. Serum (SRM) is a decentralized exchange, which means that it has all of the risks associated with decentralized exchanges.

Serum Price

SRM price is also volatile, with a max supply of 10,000,000,000 SRM and a total supply is the on-chain amount of SRM that exists. The Serum cryptocurrency (SRM) is currently trading at $0.04 USD. Serum price today is $1.07 with a 24-hour trading volume of $236,378,401. The market cap is $280,566,365.20, and it can still change.

If you want to buy Serum (SRM), you can do so on a variety of exchanges. Serum (SRM) is listed on Binance, Huobi Global, OKEx, and Gate.io. Crypto market data shows that Serum (SRM) has a liquidity score of 10.00. Serum (SRM) is traded on 5 exchanges and 12 pairs. The most active Serum (SRM) trading pair is SRM/USDT.

The circulating supply of Serum (SRM) is 263,244,669 SRM. The decentralized finance (DeFi) project Serum (SRM) partners with Band Protocol (BAND) to offer cross-chain data oracles. Serum Foundation is a Seychelles foundation that focuses on the Serum project.

How to Mine Serum (SRM)

Automated market makers (AMM) have a role in the mining process of Serum (SRM). Serum (SRM) is an ERC20 token that runs on the Ethereum blockchain. Serum AMMs are used to provide liquidity to the Serum DEX. There are currently three Serum AMMs: sETH, sBTC, and sUSD.

You can earn fees by providing liquidity to the Serum DEX. Serum (SRM) liquidity providers earn a 0.30% fee on all trades that go through the Serum DEX. Serum (SRM) also has a staking program that rewards users for holding SRM tokens in their wallets.

Here is how you can mine Serum step-by-step:

  • Deposit Serum: The first step is to deposit Serum (SRM) into your Serum Wallet.
  • Stake Serum: The second step is to stake your Serum (SRM) tokens in the Serum Staking Pool.
  • Earn Fees: Once you have staked your Serum (SRM) tokens, you will earn fees on all trades that go through the Serum DEX.
  • Mine Serum: Serum (SRM) is not mined like other cryptocurrencies. Serum (SRM) is earned by providing liquidity to the Serum DEX or by staking SRM tokens in the Serum Staking Pool.
  • Withdraw Serum: The final step is to withdraw your Serum (SRM) tokens from the Serum Wallet.

Serum’s design provides low transaction costs, high speed, and scalability.

Serum Roadmap

Serum tags itself as the world’s first high-speed decentralized exchange. Serum (SRM) was launched in September 2019. The Serum protocol is an open source project that the Serum Foundation develops.

The Serum Foundation is a Seychelles foundation that focuses on the Serum project. The Serum team is made up of experienced professionals from the cryptocurrency industry.

Institutional investors that have invested in Serum (SRM) include Binance, OKEx, Huobi Global, and Gate.io.

The Serum roadmap consists of three phases:

Phase 1: Serum DEX Launch

Phase 2: Serum Swap

Phase 3: Serum Options

Final Say

If you want to stay connected with the Serum community, you can do so by joining their Discord server or Telegram group. You can also follow Serum on Twitter.

Net fees collected by Serum are used to buy back and burn SRM tokens. Always seek investment advice from a financial advisor before investing in cryptocurrency.