CryptoLocally (GIV) and Serum (SRM) Mutual Listing!
It is our mission to give our users the best P2P trading experience in the industry. In line with this promise, we have been actively building strong partnerships with projects that bring more value to our ecosystem. Our partnership with Serum (SRM) last September is a big step forward towards this goal. As a result, we are excited to announce the mutual listing of SRM and GIV tokens into CryptoLocally’s decentralized P2P exchange and Serum’s ultra-scalable decentralized exchange (DEX) respectively.
Through this initiative, we are collaborating with more industry leaders while expanding options and opportunities for our customers. SRM is the governance token of the Serum decentralized exchange (DEX), a crypto exchange built on top of the Solana blockchain with the aim of providing fast, scalable, and cost-effective trades. GIV is the native token of CryptoLocally which enables users to participate in the shared governance model of our platform.
CryptoLocally and Serum Partnership Development
The listing of SRM tokens is part of our comprehensive plan to support the Solana blockchain. Our plan includes the listing of Solana, supporting SPL token conversion, integrating Serum into CryptoLocally’s Finance wallet for Defi features, and running our very own Serum node. The Solana (SOL) digital currency has already been listed last month and lifting serum is the next step of our development plan for the integration of this high-performance blockchain.
Soon, CryptoLocally users will be able to leverage Serum Defi. We are currently working on integrating its features into our Finance wallet. This will further enhance the rapidly growing Defi ecosystem of our platform and bolster our position as the only truly decentralized P2P marketplace with Defi integration.
What Is Serum and Serum Token?
Serum is the decentralized exchange (DEX) backed by FTX, the leading crypto derivatives exchange in the industry. This decentralized exchange was designed for speed and low transaction costs. It features on-chain order books, sub-second trading/settlement, and transaction fees that cost 1/1000th of a cent. As part of the partnership deal, Serum DEX will list the CryptoLocally (GIV) Token making Solana the third blockchain to support our native token.
The Serum token (SRM) is the native SPL token of the Serum DEX. Like GIV it is cross-listed as an ERC20 token. It has a total supply of 10 billion and primarily used to reduce fees on Serum DEX, staking rewards, participation in buy & burns, and governance. The SRM token will empower holders with specialized on-chain governance powers.
Trading SRM on CryptoLocally
SRM Token will join the fast-growing list of digital assets from many high-performance blockchains supported in our platform. SRM traders will now be able to experience the unique trading experience on CryptoLocally. Like all tokens on CryptoLocally, they will have access to over 40 local and international payment options and be protected by our smart contract-enhanced escrow service.
Trading SRM will follow the same secure, easy and user-friendly platform. Returning users can start buying and selling SRM by just changing the default cryptocurrency to SRM. New users can start trading after only registering with an email or a phone number. No experience is required to start trading. Just follow the simple instructions in our guide here.
Buying SRM is now simplified without having to go through all the trouble of buying BTC or ETH before being able to buy SRM. SRM sellers can now easily sell their digital assets directly into fiat without having to go through BTC and ETH which causes additional delays and costs.
Trading GIV and adding liquidity on Serum
To learn how to trade GIV or add liquidity on Serum DEX, please read this guide: https://cryptolocally.medium.com/how-to-trade-giv-add-liquidity-on-serum-dcca94cacc1f
Mutually Beneficial Development
We are very much excited about this latest development and glad to be able to launch a mutually beneficial partnership. CryptoLocally opens the doors for P2P trading to SRM while SERUM DEX will help GIV to expand to another high-performance blockchain! We are looking forward to integrating, even more, features with the Solana blockchain in the future!
