In this example, your 1 Bitcoin is ‘backing’ an equivalent amount of renBTC so that you can use it on the Ethereum blockchain as an ERC-20 token.Ĭryptocurrencies from other blockchains can be turned into SPL tokens and traded on the Serum DEX in two ways: using the FTX exchange or using the Metamask browser extension/wallet. 1 renBTC, which can be used on Ethereum). Ren protocol) which then mints (creates) an equal amount of tokens on another blockchain (e.g.
Wrapping in cryptocurrency can be simply understood as giving your cryptocurrency (e.g. Any non-SPL token being used on the Serum DEX is wrapped for use on Solana-based protocols in the same way that Bitcoin is wrapped for use on Ethereum-based protocols.Īn example of Bitcoin wrapping with Ren’s RenVM. SPL tokens on Solana are like ERC-20 tokens on Ethereum. SPL TokensĬryptocurrencies that you see on the Serum DEX like YFI, USDC and USDT are not ERC-20 tokens, but SPL tokens. The SRM token along with SRM staking and voting will be covered in detail in the next section. The first is Solana’s SPL token standard, the second is Serum’s interoperability protocol, and the third is Serum’s SRM cryptocurrency token. There are three fundamental mechanisms which underly the Serum DEX. It is important to note that the Serum DEX is still in development and how it works will likely be impacted by its changing role in Project Serum’s future ecosystem.
#DOWNLOAD SERUM IF YOU ALREADY OWN IT ANDROID#
There are over 18 Serum DEXes so far and the Serum DEX is also available on Android and iOS devices via the Coin98 mobile app. Anyone can create their own DEX on top of the Serum DEX and support additional trading pairs using the instructions outlined on Serum Academy. The Serum DEX currently features around 30 different cryptocurrency markets, all which trade against either USDT or USDC. It can handle between 50-65 000 transactions per second, which is the current TPS of the underlying Solana Blockchain. Serum is one of the first major projects to build on Solana and is interoperable with other cryptocurrencies including Bitcoin and Ethereum.Unlike other DEXes, Serum features order book based trading like centralized cryptocurrency exchanges. Serum is a decentralized cryptocurrency exchange built on the Solana blockchain. The DEX itself was launched at the end of August. The Serum DEX took about three months to develop, with the whitepaper being released in July of this year. They decided to name their DEX Serum after putting together a huge spreadsheet of name ideas and crossing off those which had been taken by an existing crypto project and/or website domain. Finally, Kenny puts it all together by taking some popular Preset Sounds and Deconstructing them and Rebuilding them from the ground up.Sam and the team wanted their DEX to be a standalone platform – something new and separate from the FTX exchange.
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After detailing the Global Page Settings, Kenny teaches you about Chaos and other Miscellaneous Modulation Sources, the Wavetable Editor, and how to use Macros in Serum.
That leads into the Envelopes, LFOs, Voicing, and Portamento Options. Next, Kenny discusses the Filter Module, Effects, Modulation Options, and Mid Matrix Window. After exploring Wavetable Positions, the Phase, Pan, and Level Controls, Kenny digs into the Warp Menu Modes, the Sub-Harmonic and Noise Oscillators. Kenny starts by introducing you to Serum and taking you through its Oscillators and Unison Settings. Studio / producer guru Kenny Gioia injects total Serum knowledge directly into your brain in this meticulous and complete series, making it the most comprehensive exploration into Serum available! Xfer Records' groundbreaking virtual synth plug-in Serum sets the bar incredibly high for wavetable synthesis.
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