- Zeta plans to leverage Serum’s order book design
- This integration provides a great deal of advantage to traders as it will provide users with more flexibility for placement of orders
- Traders will be able to trade DeFi options and futures on Zeta
A Brief About Project Serum
The project is a new decentralized exchange for the decentralized finance sphere. The project was built by the same team that created the FTX exchange. Project Serum is built on the Solana Blockchain and was created to solve the loopholes of centralized vulnerabilities that exists in the DeFi community. The project runs on non-custodial exchange with cross-chain trading support and no KYC is required. The interesting thing to note about Serum is that despite being built on the Solana network, it is completely interoperable with Ethereum and Bitcoin. This provides an advantage to traders that love to trade other Cryptocurrencies besides ERC-20 tokens that most DeFi platforms offer.
The Integration Of Zeta With Project Serum
In a recent update by Zeta Markets, they were proud to announce their integration with Project Serum. Zeta plans to leverage Serum’s order book design to create a fully on-chain decentralized vanilla options protocol on Solana. This integration will help Zeta and Serum align their vision to introduce new products to DeFi on Solana. Zeta believes that this a great step for DeFi derivatives on Solana. This integration provides a great deal of advantage to traders as it will provide users with more flexibility for the placement of orders. Traders will be able to trade DeFi options and futures on Zeta. This trading option will feel like trading on most of the other centralized exchanges.
The Future Of Project Serum
The long-term goal of Serum remains to connect the developing DeFi landscape and the general public. With that in view, the DEX is dedicated to establishing the necessary technical infrastructure and forming partnerships with other industry stakeholders.
Serum will enable permissioned markets, automated settlements via connected token accounts, and reduce expenses from trading for SRM holders, among other features.
Further, Serum is also planning to launch perpetual futures products and spot margin trading in the first quarter of 2021 though to the second quarter of 2022.
Serum plans to decentralize cranking coordination to allow new projects to use existing crank services, as well as fully decentralize the SRM buy and burn process, in order to become more decentralized.
Importantly, the new roadmap mentions forming relationships with CeFi partners, providing standardized API interfaces to the Serum DEX and Serum ecosystem initiatives, developing market maker incentive programs, and optimizing RPC server performance for typical DEX activities.
As at the time of writing this news, SRM, the native coin of the Serum DEX is trading at $7.33 with a market cap of more than $977 million, according to data from CoinGecko. Predictions show that the SRM price is expected to cross a price level of $245.50 in 2030. The expected minimum value of SRM by 2030 is expected to be $238.94. SRM could even reach a maximum market price of $279.11.