Numerous cryptocurrency ecosystems can serve as a building block for greater and better things. Serum is one such innovative concept, designed to take cryptocurrency to the mainstream. Several decentralized exchanges are being built on top of Serum, highlighting the potential of this ecosystem
One of the top first DEXes to build on top of Serum goes by the name of Bonfida. It offers very interesting trading pairs, including markets for Bitcoin, Ethereum, Sushi, Serum, YFI, and LINK. All of these assets can be traded by connecting a wallet. Users will benefit from lightning fast speeds, low to no trading fees, and seemingly sufficiently large amounts of liquidity on both sides of the order book.
A very interesting concept, especially with stablecoin trading already being active today. It may take a while before major trading volume becomes apparent, but the markets are doing well so far.
Similar to what one will find by looking at Bonfida, Serum Today offers the same advantages. Trades are executed incredibly fast, which will undoubtedly begin attracting more overall liquidity. This platform has a few trading markets that can’t be found on Bonfida and vice versa, making it interesting to keep an eye on. Its overall UI is also a bit different, as there are plenty of customization options to be developed. Another good example of what Serum is truly capable of in a trading environment.
On the surface, Serum Today and Serum pro look nearly identical. That is not entirely abnormal, as all of these DEXes are still in active development. It is good to see so many markets active on these DEXes already. Especially the support for altcoins and DeFi tokens will be appreciated by many. A solid exchange, by the look of things, but it needs a bit of work on the UI front.
Overall, it is not hard to see the potential that Serum brings to the table. Not just in terms of building DEXes, but its overall speed and low fees will prove beneficial to many different ventures. For now, most of the Serum DEXes – including those mentioned, as well as the others in development – mainly look alike. That is to be expected, but it is something to address in the near future as well.
For the cryptocurrency industry, scalable solutions like these are a major boon. Native blockchains often struggle to achieve a higher level of scalability. Serum shows this can be achieved with a lot of hard work and focusing on the correct aspects. From a trading point of view, it will prove incredibly beneficial Finding use cases outside of exchanges may be a bit difficult, but there is unlimited potential regardless.