Serum (SRM) and META 1 Coin are two DeFi networks that promise to bring new opportunities to the market. Each of these platforms has some unique features and benefits that make it ideal to serve its niche market. At first glance, the platforms’ DeFi characteristics seem similar but after a more in-depth analysis, it’s easy to see what makes these advanced networks different.
What is Serum (SRM)?
Serum entered the market via dual simultaneous IEOs (Initial Exchange Offerings) held on BitMax and FTX. The platform combines a hybrid DEX (decentralized exchange), DEX developer software, and DeFi functionalities to provide users with a variety of ways to earn returns. The main goal of the project is to bring the simplicity and familiarity of centralized exchanges to the DeFi community.
What is META 1 Coin
The META 1 Coin is the ground layer for a multi-faceted DeFi ecosystem. The network combines features like a high yield savings account and an advanced VISA debit card to enable users to earn rewards and spend their cryptocurrency in a seamless manner. Notably, the META 1 Coin is one of the most advanced stablecoins to hit the market.
This unique digital asset leverages a variety of major advancements made in the blockchain sector over the last decade. For example, the token provides a stable platform to build wealth by deriving value from a basket of gold-related assets. Gold-backed stable coins provide an advantage over fiat-backed tokens in that they appreciate in value rather than depreciate like fiat currencies.
What Problems was Serum (SRM) Built to Alleviate?
Serum (SRM) attempts to provide users with relief from some of the DeFi sector’s biggest gripes. Specifically, the system helps to reduce the technical barriers associated with converting from centralized exchanges to DEXs. DEXs provide more investor protections but they lack many of the most basic features found on large CEXs like Coinbase.
This situation creates a problem as new users can get frustrated and confused attempting to convert to a DEX. Rather than make these users relearn the trading experience, Serum wants to empower developers to build DEXs that provide the same features that make CEXs so convenient.
Another major issue that Serum (SRM) seeks to eliminate is scalability issues. Serum provides Ethereum users with a scalable alternative. Currently, Ethereum, the largest Dapp ecosystem in the world, has record-high gas fees due to congestion. Serum’s architecture enables it to reduce network congestion.
Serum provides lower transaction costs and fast settlement times. Specifically, the network has a 0.00001 transaction cost. The developers have clocked the network at 65,000 tps (transactions per second). This tps rate is almost double the speed of top payment processors like VISA and MASTERCARD. Additionally, the network is capable of facilitating cross-chain trades.
What Problems was META 1 Coin Built to Alleviate?
The META 1 Coin project was built as a means for regular investors to escape the rat race. The coin’s founder, Robert P, Dunlap, looked through the pages of history to find inspiration for his project. META 1 Coin helps to free users from an unfair financial system by combining a variety of features such as a stablecoin, DEX, savings account, DeFi features, and more.
The network provides a variety of ways for users to secure passive rewards with minimal risk. The integration of a savings account that pays out 10% APY versus your bank accounts 0.25% is a perfect example of how the developers were able to eliminate the middleman and spread the wealth throughout the community.
How Does Serum (SRM) Work?
Serum (SRM) is built on the Solana blockchain. This fourth-generation decentralized network provides Serum with its scalability and security. It also enables the platform to remain developer-friendly.
Serum users can secure rewards by staking their SRM tokens. Staking nodes are responsible for supplying blockchain histories for cross-chain settlement validation. To become a staking node you will need to hold at last 10,000,000 SRM. Staking nodes receive a share of the DEX’s fees. Specifically, 20% of all DEX fees are used for rewarding staking nodes.
On-chain order Books
The main feature of Serum (SRM) is its DEX developer suite. This toolset enables Dapp developers to integrate full limit order books with a CEX like interface into their creation. Users can see advanced trading data including price, size, and trade direction.
Serum integrates a dual token strategy to accomplish its goal to simplify the DEX sector. The network introduces a native utility and governance token called SRM. Notably, users can combine 1,000,000 SRM to create a MegaSerum (MSRM). MSRM act as a scarce asset within the ecosystem.
How Does META 1 Coin Work?
META 1 raises the bar in terms of stability. The token combines the advantages of a multi-asset-backed token with some other proprietary features that protect users from market manipulation. For example, the developers seek to prevent centralization through the integration of a “humans only” smart contract. This protocol requires users to confirm that they are human. The goal is to eliminate whale manipulation by stopping large investment firms, corporations, and governments from holding the token.
At the core of the network is a high-performance blockchain. The META blockchain enables the network to accomplish some impressive goals. For one, it gives the stable coin enterprise-grade security. Additionally, it provides the META DEX users with transactions throughput that rivals globally recognized exchanges like the NASDAQ.
Users can acquire META Coins from the DEX or a variety of international CEXs. These tokens can then be used to amplify your earnings in a couple of different ways. Traders can profit using the DEX and save on fees. The network also supports DeFi staking. This feature enables you to lock up your tokens and earn rewards. You can stake as many tokens as you like. The more tokens you stake and the higher your rewards.
Serum (SRM) vs META 1 Coin
After reviewing the evidence, it’s easy to see that both Serum and META 1 have some cool features that make them worth further investigating. Serum empowers developers to build DEXs that look like CEXs which helps blockchain adoption. The META 1 Coin provides a real and profitable alternative to the status quo. The network provides users access to a plethora of wealth-generating features. META 1 beats Serum in terms of features and stability. However, both projects have the potential to shine bright in the coming months.