The Serum Airdrop: Your Ticket Into Complete DeFi.

Overview 

  • Serum and FTX Exchange are together airdropping 500,000,000 SRM tokens to FTT token holders. 
  • Inorder to be eligible to receive free SRM tokens, you must create an account at FTX exchange and hold a minimum of 500 FTT tokens.
  • All users that are eligible will receive 3 SRM for every 500 FTT held per week.
Serum Airdrop
Source : Invezz

What is Serum?

Serum is a decentralized exchange system and an ecosystem that aims to incorporate high speed yet low transaction costs into the world of decentralized finance. Built on the Solana blockchain, Solana is a network built for speed, security, and optimising efficiency. The Solana blockchain is a perfect combination of the proof of stake consensus algorithm with a novel proof-of-history system. 

Solana is a blockchain that can reach upto 50,000 transactions per second. This is done through a verifiable delay function which is called SHA 265 hash chain.

Serum was created with the aim of eliminating the problems in the current DeFi space that are caused due partial decentralization. It claims to be fully decentralized. Serum functions on a non-custodial exchange with cross-chain trading support and requires no KYC.

Serum is developed by the Serum Foundation and has the backing of a group of experts in cryptocurrency, trading and decentralized finance. This project also is also backed by a wide number of firms.

SRM is Serum’s main governing token. It is based on the Solana blockchain and follows the ERC20 version. It has cross-chain support that enables the trustless  and seamless exchange of assets between several different blockchains. Serum uses a  bridge through a trustless 2premier validator for distributed ledger technology.

Serum has a current supply of 50,000,000 SRM.

Serum can be bought and sold on a number of exchanges such as Binance, HBTC, BitZ, OKEx and Xtheta Global.

Serum Airdrop
Source : BitcoinEthereumNews

Advantages of Serum

The Serums’s cross-chain swap protocol enables users to exchange assets between blockchains in a seamless and easy manner.

The full Ethereum and Solana integration allows Serum to function faster and smoother and makes it more efficient while also allowing it to be integrated with ERC20 tokens.

The cross-chain contracts are physically settled allow easy margin positions in DeFi synthetic assets. SerumUSD is a model for creating a decentralized USD-pegged stablecoin and  SerumBTC is a model for creating ERC20- or Solana-based tokens for Bitcoin.

Staking rewards are distributed on the basis of the nodes performance, which takes into account important on-chain actions, such as supplying blockchain histories for cross-chain settlement validation.

Users can also stake towards another node. A part of a node’s staking fees goes to the leader and all nodes receive staking results. These rewards increase through productive participation in node duties.

Source : CoinCodex

About the Serum Airdrop

Serum is one of the first completely decentralized derivatives exchange that consists of a trustless cross-chain trading in collaboration with an association of crypto trading and DeFi specialists.

Serum and FTX Exchange are together airdropping a total of 500,000,000 SRM tokens to FTT token holders. You must create an account at FTX exchange and hold atleast 500 FTT tokens inorder to be eligible to receive free SRM tokens. All users eligible to participate in this airdrop will receive 3 SRM for every 500 FTT held per week.

Step-by-Step Guide:

  1. You need to create an account at FTX exchange.
  2. Make sure you are holding at least 500 FTT tokens.
  3. Random selections of the FTT holdings will be taken randomly.
  4. All users eligible to participate in this airdrop will receive 3 SRM for every 500 FTT held per week.
  5. These rewards will be distributed every Tuesday to the eligible users FTX exchange wallet.
  6. The airdropped SRM tokens will be in a locked state and will only be unlocked in the next seven years.