One of the most ambitious projects in the world
I’ve been bullish on Solana. Which is not the altcoin we’ll be talking about in this article since three dollars. Now I’m watching something else which the founders described as one of the most ambitious projects in the world.
Some of my favourite things about sol in the early days were that I mean initially, it just fitted a popular narrative in the market.
Anything that could be described as an ethereum killer would do pretty well. But then, as I learned more and more about sol.
I actually saw a lot of use cases for it. To put it super simply. Sol sacrifices a little bit of the decentralisation that Ethereum has.
But in exchange, it’s far more scalable. It’s got more transactions per second and a few unique features to it as well.
We’ll take a look at the fundamentals of Serum at the, and we’ll look where it is right now. Optimal entries potential targets as well.
So founded in august 2020 by the Serum foundation and the FTX team project, Serum is a decentralised exchange known for its speed scalability and cheap transaction fees.
This is one of the most ambitious projects I’ve ever seen, and there’s a good reason for that.
What are they trying to build? Well, think about Uniswap, Aave, Compound Defipulse, Coingecko, Chainlink. Then scale up the ecosystem to a hundred million users.
They mentioned that the goal is to get 10% of the entire world’s activity on-chain and to compose on Serum. That would equate to a billion people and 10 trillion dollars of assets.
Let’s check the picture of what this would look like. That’s 5 billion of annual profit from exchange fees.
25 billion of annual profit from structured products.
30 billion from social networks.
15 billion from payments.
So it’s quite an ambitious project.
From a product point of view, there are lots of features that make Serum a great dex. We’ll specifically review a few of them.
The First One:
The User Interface
One of the things that make the world of decentralised exchanges difficult is that they can be challenging to navigate, especially for beginners.
Moreover, unlike centralised exchanges where you can find support tickets, messages, customer support experience team or work with a middleman on a dex, you are completely responsible for your own actions, which scare a lot of people.
The serum combines the trustless non-custodial and fully decentralised features of a dex but uses a sleek user experience that you may be familiar with. İf we pull up Serum and FTX side by side right now. You can see that it’s a very familiar interface.
Cheap And Fast Transactions
Even if you do have experience with a dexs on ethereum, you’ll know the pain of waiting hours for a trade to settle and also the absurd costs. But Serum is built on Solana, which gives it the advantage of transaction speeds of 50 000 transactions per second. Read More…