Serum and Trader Joe: projects of ECOS Ventures Index

Written by Vladislav Akelyev
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Investing reporter
3   min.
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Serum and Trader Joe

We continue to introduce you new projects from our flagship investment portfolio ECOS Ventures Index 

What projects will we look at today?

Today we will look at two projects Serum and Trader Joe

What is Serum?

Serum is a decentralized exchange (DEX) and ecosystem that provides unprecedented speed and low transaction costs for decentralized finance (DeFi).

What are Serum’s features?

Serum is the only high-performance DEX designed around a fully centralized limit order book and matching mechanism. Ecosystem partners can use Serum’s online order book to share liquidity and leverage their trading functions for institutional and retail users.

In light of the popularity of DeFi and the rise of DEX on Ethereum, users and developers are limited by high gas costs and slow transactions. Serum seeks to solve these traditional DeFi problems, as well as problems of centralization, low capital efficiency and liquidity segmentation, as it runs on the Solana network

The SRM token allows users to receive fee discounts; 100% of exchange fees are returned to SRM via buy-and-burn, staking rewards, and ecosystem grants.

Serum is an open-source project created by a consortium of partners including FTX, Alameda Research, and the Solana Foundation.

Its development is currently supported by the Serum Foundation with the support of a group of experts in cryptocurrency, trading and decentralized finance. 

What makes SRM Unique?

Serum DEX’s centralized limit order book and matching mechanism on the Serum network provides liquidity and price and time priority matching for traders. Users benefit from this exchange model by being able to choose the price, size and direction of their trades. 

What is Trader JOE?

(JOE) is the proprietary token of Trader Joe’s, a decentralized exchange (DEX) on the Avalanche blockchain (AVAX) that offers DeFi services, including exchanges, rates and farming. The exchange is growing rapidly, attracting more than $4 billion in total blockchain value (TVL) since its launch in June 2021. The platform says it takes a community-driven approach and prioritizes innovation, speed and security. It aims to provide universal DeFi service and integrate new products without compromising security. To achieve this goal, the service has outlined an ambitious roadmap that aims to grow its token holders. Over the course of 2021, the plan is to improve betting, exchange listings with interchangeable tokens (NFT), JOE token provisioning and leveraged trading.

What is the history of Trader Joe’s creation? 

Trader Joe was founded by Cryptofish and 0xMurloc. Cryptofish worked at Google and has a master’s degree in computer science from a US university. 0xMurloc is a full-stack developer with experience launching several startups. The team is complemented by more than a dozen other users under pseudonyms working on software, marketing, and community.

What are Trader Joe’s advantages? 

Trader Joe provides all the functionality of modern DEX and offers a user-friendly interface combined with fast and cheap transactions. Users can provide liquidity by participating in one of its income farms and earning JOE as a reward token, which can then be put up and used to vote in management offers. Its Banker Joe lending protocol, based on the Compound Protocol (COMP), allows users to borrow and lend funds. In addition, users can also open leveraged positions on loaned or borrowed funds.

To increase the usefulness and adoption of the JOE token, Trader Joe is working to introduce several new options that aim to make the project a core DeFi platform in the Avalanche ecosystem. First of all, users will be able to use JOE as collateral for borrowing. In addition, Trader Joe also plans to make it easier to trade limit orders, options and futures on its platform. With the speed of its innovation and strong comic book-like branding, Trader Joe’s has attracted strong supporters from the DeFi community, including AAVE (AAVE) founder Stani Kulehov and Darren Lau.

Right now, the Trader Joe platform is the most popular service within the growing Avalanche ecosystem (below we see statistics from Nansen)

When making investment decisions in a falling market, you need to remember that this may not be the last dip and dial an investment position in installments, at interesting to you price levels for long-term investments.

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