The Serum ecosystem is growing and announced that four new tokens are coming to the platform. Serum runs on the Solana blockchain, an alternative to Ethereum developed by FTX.
One of the new tokens to start on the Serum is Maps. It is a premium navigation app that includes travel guides and hotel booking, going beyond the simple route indication for travelling.
But it wants to go even further. With more than 100 million users worldwide, the goal is to provide financial services such as cross-border payments and even investments. “The world is ready for something much bigger than what is offered today in the digital assets environment”, Maps says.
Among the new tokens on Serum, a protocol for decentralized streaming
On his Twitter profile, FTX CEO, Sam Bankman-Fried, wrote that, today, “PayPal is probably the product with the most extensive user base on crypto, with about 300 million (people)”. But he added that “soon, the second-largest will probably be Maps”.
According to Serum’s team, Maps is complementary to another of the new tokens, Oxygen. This is a DeFi brokerage protocol. According to Serum’s note, Oxygen “can help digital asset holders, generate liquidity, gain yield”, among other functions.
According to the text, the protocol was designed to serve millions of people, which is only possible thanks to the combination of the Serum ecosystem with the Solana blockchain. That’s because this blockchain’s infrastructure allows more than 50 thousand transactions per second for only a fraction of a dollar.
Media, a protocol for live streaming, is another one of the tokens that arrive at Serum. Decentralized, Media can also circumvent censorship of content.
Faster and lower-cost operation
Finally, there is the multifaceted Bonfida, which brings together several possibilities. It has already created, for example, an API for Serum and large crypto sites like CoinMarketCap and CoinGecko.
They are “the first of many, for sure”, says the Serum text. “We’re excited to see the ecosystem growing finally and new teams emerging as excited as we are to build at Solana”, he adds.
Serum is a decentralized exchange and a crypto ecosystem. It is on the Solana blockchain, which has a lower operating cost and is faster than the saturated Ethereum. With the DeFi boom, the high volume of transactions caused Ethereum to slow down presenting high gas. Besides, it has a governance token that guarantees, among other benefits, discounts on platform fees.