I've lost my "virginity" with AMM pools ---> ProjectSerum Defi

I've lost my "virginity" with AMM pools ---> ProjectSerum Defi

By Ariman | Crypto_Life_Style | 29 Nov 2020


 More than once I told you about the FTX exchange, which I find wonderful, and now once more I'm here to tell you that they are working, in collaboration with the Solana (SOL) team, on a new DeFi platform, named "ProjectSerum" , togheter with the omonimous token Serum (SRM), which will be composed of

  • a Decentralized Exchange (DEX), with really super low fees, paid in Solana tokens
  • a Swap functionality, already alive, with tens of market pairs, mostly named againt Sol or Serum (SRM)
  • Borrow/Lending , comining soon, here their roadmap ;I kindly invite you to read more here

One can already buy and stake Serum tokens at the FTX exchange, where I strongly suggest you to open an account if you are interested in Perpetual Futures trading. ( they put 0% maker fees till end of 2020, here my referral link, thank you).

Since I've received an email, by the FTX stuff, telling me that the Swap and DEX are now live on the Project Serum, and since they put in place an airdrop reward program, ended in mid-November :-( , I decided to try it out.

So, as I announced in the title, I've put to work in an AutomatedMarketMaker (AMM) pool some cryptos, for the first time, loosing my "virginity":-)

Here is a screenshot: I sent some SOL token from the Ftx exchange ( there, you pay no fees even for withdrawhals) , swapped the half of them for Serum, and put the "couple" to work in the "SOL/SRM" pool, of course

.4dc419d15ede57085005bb49e719c7256787b4591b42aa64f680ce8732095314.png

I've always been a bit afraid about doing so, expecially for the risk in loosing the seed phrase of non-custiodial wallets, but I've put in not a big sum of course. But here I am.

 


Hope you had pleasure reading my post, I generally try to give really some help to the community, at least by my possibilities, and this is something I felt important to share.

Have a nice day, as always :-) 

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Ariman
Ariman

I'm Master degree in Theoretical Physics while being totally and irrationally in love with the crypto world. From Italy


Crypto_Life_Style
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