Good mornig Publish0x community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.
In this article we talk about more features of Serum!
In the last E&S article I introduced you Serum (SRM) and I said that is a decentralized cryptocurrency exchange built on the Solana blockchain. Project Serum will unveil a fully functional decentralized exchange with trustless cross-chain trading, all at the speed and price that customers want. And despite living natively on Solana, it will be interoperable with Ethereum. Serum DEX currently has about 30 different cryptocurrency markets, all of which are traded with USDT or USDC. Anyone can create their own DEX on top of Serum DEX and use the instructions outlined on Serum Academy to support other trading pairs.
If you missed the article you can recover it here before to continue this one.
SRM Staking
If you've been following me for a while, you probably know what is staking. We have already talked about it in several articles and I personally published a couple of video-tutorial, where you can earn up to 11% on TRX staking and up to 8% on ALGO staking. If you missed these two tutorial I leave you the link below.
TRX Staking:
ALGO Staking:
The distribution of staking rewards is based on the performance of the node. Nodes perform important on-chain operations, such as supply blockchain history for cross-chain settlement verification. Users can also stake to another node. Every node has a leader who creates it. However, part of the node's staking fee will be owned by the leader. All nodes will receive staking rewards. The reward will increase with the participation of the node's responsibilities. The Serum DEX has quite an elaborate staking system. To become a validator node you must stake 10 million SRM, 1 million of which must be in the form of 1 MSRM. Each node is subject to a 100 million SRM maximum stake.
SRM Cryptocurrency
SRM is the SPL token on the Solana blockchain and the ERC-20 token on the Ethereum blockchain. It is used in the DeFi ecosystem of Project Serum, especially for staking on Serum DEX. Staking SRM needs to run a validator node for Serum DEX, and it can be staked to reduce DEX transaction fees. One million SRM tokens can also be converted into one MegaSerum (MSRM) and vice versa.
Serum (SRM) and MegaSerum (MSRM) are designed with the following principles in mind:
- Accrue value through utility, not hyperinflation.
- All seed sales have long-term lockups; they are meant for long-term supporters of the Serum ecosystem, not quick profit.
- 25% of all tokens have long-term unlocking periods, underscoring commitment to Serum.
- MegaSerum (MSRM) is a scarce asset that gives increased utility to core believers in Serum.
- SRM governance over all net revenue generated by the platform, which can be utilized as SRM stakers vote, include via yield, buy/burns, grants, or other usages.
- SRM gives specialized governance power over Serum.
10% of all SRM tokens begin unlocked. The other 90% all have the same unlock schedule. They are fully locked for the first year, and then unlock linearly over the next 6, approximately 1/2190 per day. All seed sales were locked.
SRM Roadmap
The first two phases envisioned by Serum have been completed.
We are now seeing phase three. We don't have any indication of the expected timeline and future steps after phase three but I am confident that Serum can develop and expand in a relatively short time.
With this second article about SRM we have discovered new things about this project! I would like to know your opinion about Serum!
Next week I’ll introduce you a new cryptocurrency!
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Suggest me with a comment another crypto you would like to see analyzed!
