THELOGICALINDIAN - Following a 660000 IEO on FTX Serum has been listed on top exchanges in alertness for its approaching launch
Serum, a new crypto derivatives exchange, is advancing to go live. Sam Bankman-Fried, an adviser on the project, says that the DeFi barter will handle its aboriginal barter this week.
Serum Arrives on the Market
Today’s account additionally coincides with the advertisement of the Serum badge (SRM) on several crypto exchanges. So far, SRM has been listed on FTX, Binance, BitMax, HBTC, Uniswap, Mesa.Eth, Balancer, TomoDEX, and 1Inch.
Serum’s abrupt IEO on the FTX barter awash the SRM badge for $0.11 and aloft $660,000 amid Aug. 7 and Aug. 11. SRM is now admired at $1.24 on best exchanges.
Though SRM is an Ethereum-based ERC-20 token, the Serum barter itself is congenital on a accessory blockchain alleged Solana. The barrage of Serum has acquired Solana’s own badge to acceleration in amount from $1.80 to $3.30 over the accomplished week.
Not Ready For General Users
Bankman-Fried says that although Serum is operational, it is not yet a “full product.” The aggregation is still abutting GUIs, APIs, and wallets—meaning that anyone who wants to use the belvedere will accept to do so through a command-line interface, for now. That said, it will eventually accept a standard, easy-to-use web interface.
Though there is no official barrage date, Bankman-Fried says that the interface will be formed out over the abutting few months, forth with added appearance such as cross-chain trading and tokenized assets.
Competing With Other DEXes
Serum aims to accommodate a derivatives barter that is added decentralized than its competitors. For example, it aims to do abroad with centralized answer abstracts providers, action cross-chain swaps after a axial party, and acquaint its own built-in stablecoin after axial backing.
Though Serum claims to be the aboriginal absolutely decentralized derivatives DEX, added platforms arguably accept a affirmation to that title; there are several added DeFi platforms and exchanges on the bazaar today.
However, the actuality that Serum’s aggregation appearance associates of high-profile crypto projects like Compound and FTX agency that it could become a admired accession to the DeFi ecosystem.
