Are you familiar with decentralized platforms and exchanges active in the field of cryptocurrency? One of the popular decentralized exchanges in this market that operates on the Solana network is Seram Exchange. This exchange has a high speed. In addition, transaction fees are also very small. If you plan to operate in the field of digital currencies based on the Solana network, this decentralized exchange can be a good choice.
Seram Exchange has its own native token. Digital currency SRM It is a native token of this network. The serum project uses its native token to manage the network and encourage users to engage in healthy currency activities. Another digital currency called Megaroom (MSRM), which is known as the second native token of this exchange. This platform uses its native tokens to attract more users. In the rest of this article, we will introduce Seram Exchange and review its services and features.
Introducing Seram Exchange
As you know, decentralized platforms have a special place in the digital currency market. Meanwhile, decentralized exchanges are among those programs that have a lot of room for improvement. Serum exchange is a decentralized exchange. The ecosystem of this exchange is based on Solana blockchain (Solana) and supports various digital currencies.
Decentralization of serum exchange means that no part of it is under the control of a specific organization or group. This provides more assurance to users. Seram Decentralized Exchange started its activity with the aim of performing high-speed transactions at an affordable cost. For this reason, it succeeded in surpassing its competitors in a certain period of time. In order to be able to provide decentralized services to its users, Seram exchange performs the centralization of price feeds using oracles. Oracles are centralized services that are commonly used in some decentralized platforms. Therefore, it can be concluded that Seram, as a decentralized digital currency exchange, offers cheap, fast and simple services to its users.
Currencies supported in Seram exchange
If you have read a little about the digital currency market, you probably know that the tokens that are created based on the Ethereum network are ERC20 standard tokens. Now the tokens that are supported in Seram exchange have Standard SPL are. The reason is clear. Because the Seram decentralized exchange is built on the Solana blockchain platform. Therefore, cryptocurrencies such as USDC, Tether (USDT), Yen Finance (YFI), etc., which are seen in my head, are tokens with SPL standard. In this regard, we can come to the conclusion that knowing the best foreign digital currency exchange, in addition to the function and structure of the exchange, depends to a large extent on your needs and type of assets.
Decentralized exchange structure of Seram
Seram Decentralized Exchange intends to compete with well-known exchanges such as SushiSwap, UniSwap and Bancor by implementing new and creative ideas. Seram exchange platform is built on Solana layer one blockchain network. The structure of this platform has four general components, which include the following.
Limited order book
The first major part of this platform consists of a central limit order book. The serum core, which is located at the most central point of the serum protocol, Agnostic order book (Agnostic) is called. This part of the Seram exchange platform allows the desired protocol to operate regardless of the type of crypto assets. It also helps support assets such as derivatives and loans.
Dedicated services to developers
This part of the platform is for developers. In fact, people who work as developers in the cryptocurrency market can connect their various projects to the Seram ecosystem with the help of this section. In this case, they can also use its liquidity.
combinability
In general, different programs in Seram Exchange have the possibility to share middleware in one place. True composability allows different business applications to share a single source of liquidity. Then it opens access to this resource for individual and institutional users.
Dao’s head
The last and most important part of Seram Exchange is Seram Dao. Dao (DAO) literally as Decentralized autonomous organization It means and is summarized as Decentralized Autonomous Organization. This department is responsible for the development and improvement of this platform.
Seram exchange service
Seram platform developer team created this exchange to Cheaper and faster transactions To be done in the digital currency market. The interesting thing about Seram Exchange is that this platform simultaneously has the ability Orders office (Order Book) and Automated market maker (AMM) is used in its structure. The order book is a prominent feature in centralized exchanges and the automatic market maker is also one of the main features of decentralized exchanges. In this way, the serum can be most productive.
In order to learn more about the details, it is good to know that Seram Exchange uses a limited order book instead of the old maker and taker models in the market. In this case, the users of this exchange can register their orders in the chain order book. This order registration model helps users to have more control in their transactions.
Seram Exchange, like many other digital currency market platforms, has its own native token known by the symbol SRM. This token is used to regulate ecosystem assets and rewards. Also, people who are active as holders in this market can reduce transaction costs with the help of shareholding, partnership and transaction. In addition, it is good to know that Seram platform has plans to create inter-chain smart contracts. In general, this decentralized exchange can be a cost-effective and useful choice for users. Because compared to other decentralized exchanges, it charges a very small fee from its users. In fact, it has offered one of the lowest transaction fees with a transaction cost of around $0.00001.
Training to work with Seram Exchange
To work with Serum exchange, you must first enter the official website of this platform. The first and main part of it is Trade On Serum DEX. Select this option and after connecting your wallet to Seram, specify the trading currency pair you want. This part is like other decentralized exchanges and you can open different positions for buying and selling. The Settle option is used to close the desired position and all your open positions are displayed in the Open Orders section.
Swap
By selecting the Swap option at the top of the main page of the Seram Exchange website, you will enter the Symmetry section of this platform. You can easily make your exchange in this section after connecting your wallet to the server. Just note that in the swap section of Serum exchange, you must use SOL coin to pay transaction fees.
Add Market
In the Add Market section, you have the ability to add a pair of cryptocurrencies and list it. To do this, first enter the contract address of the main digital currency in the Base Token Address section of Mint. Then enter the contract address of the second digital currency in the Quote Token Mint Address field. Just don’t forget a few things. The first thing is that you can find the contract address of the digital currency you want from sites like CoinMarketCap. The second thing is that the digital currency you choose must be based on the Solana network.
The Minimum Order Size option in this section is related to the minimum purchase amount by users. You can consider this amount as zero. Finally, you must click on the Submit option. In this case, the digital currency pair you want will be listed in Seram exchange. The cost of this listing is about 4 SOL coins.
Convert
The last part is related to the Convert option. You can convert digital currencies SOL, SRM, BTC, SXP, ETH, SUSHI, WUSDC and ALEPH to currencies like USDT, USDC, WOSDC and WUSDT by choosing this option.
A review of the decentralized exchange of Seram
Seram Exchange has a function similar to many other decentralized exchanges. But it works differently in some details, which makes it stand out from many other DEXs. This protocol is based on the Solana blockchain. Therefore, many people who use Solana network are familiar with it. Of course, in recent times, this exchange has been struggling with many problems and has been somewhat left behind from its schedule. But its development team still hopes to improve the situation in the future. Finally, if you want to operate in Seram exchange, you must first of all buy some digital assets. Since Iranian users are not allowed to buy cryptocurrency from foreign exchanges, you can use the reliable Iranian exchange Valex.
What is the writing of Sarafi Sarfi? Learning how to work with the Serum decentralized exchange for the first time on the Wallex blog. appeared.
