Decentralized Finance Tokocrypto Platform Presents Serum Tokens
Successfully holding Indonesia Blockchain Week (IBW) 2020, Tokocrypto is again making a breakthrough by presenting a new token called Serum (SRM). Pang Xue Kai, CEO, and Co-Founder of Tokocrypto, said that this token is the third project launched after IBW 2020 ends on August 27, 2020.
“Still in the form of Tokocrypto’s Decentralized Finance initiative, we are proud to present another DeFi token on our platform. This is the third project we launched after IBW 2020 ended on August 27,” Kai said in his statement, Wednesday (2/9/2020 ).
Decentralized Finance (DeFi) is recognized as the main catalyst for this month’s crypto market boom. This condition proves the great interest of crypto and blockchain industry users in accessing DeFi platforms and services.
“The increasing number of DeFi tokens available on our platform is part of Tokocrypto’s commitment to accelerate the overall growth of crypto-economics,” Kai continued.
Optimistic to be at the Forefront
Sam Bankman-Fried, Serum lead advisors said he was optimistic when SRM became part of Tokocrypto and traded in Indonesia. “It is time for DeFi to arrive in Indonesia and we are sure that SRM will become the main and foremost DeFi token,” he said.
SRM is a decentralized derivatives exchange project enabling cross-chain trading developed by the Serum Foundation.
They are a pool of experts in crypto, trading, and decentralized finance, including FTX, the second derivatives trading platform that develops DEX and Solana, blockchains that can be operated by smart contracts or smart contracts.
Offer 50 Thousand Transactions per Second
Recently, Serum launched a decentralized exchange (DEX) on top of Solana, which offers more than 50,000 transactions per second and a decentralized automated full limit order book. Although native to the Solana blockchain, Serum DEX is interoperable with Ethereum, providing a major advantage over most of the DeFi platforms currently available.
SRM itself is a Serum governance token based on the Solana blockchain, but alternatively, it also has an Ethereum or ERC20 version.
This token has been available on Tokocrypto since September 1, 2020, and can be traded with USD Tether (USDT) and Bitcoin (BTC). In the near future, SRM will be able to be traded with Binance IDR (BIDR).
Provide a Token Shop to Support DeFi
The TokoCrypto crypto asset trading platform launched Toko Token as an effort to support decentralized finance (DeFi). Toko Token (TKO) will be available from the end of August 2020 as a reward system for users who join Tokocrypto and share their referral code.
In line with Indonesia’s 75th Independence Day, for every successful referral, both the referrer and referee will be given 75 Toko Token (TKO) each. DeFi elements such as staking, savings, and loans will be introduced to the Tokens Store (TKO) ecosystem.
To increase public knowledge about blockchain, crypto assets and DeFi, Indonesia Blockchain Week 2020 was held. Pang Xue Kai, CEO and Co-Founder of Tokocrypto said, Indonesia Blockchain Week was created to increase awareness and education about Blockchain Technology and its potential for the Indonesian people.
This year’s Decentralized Finance theme was chosen because of the many interests that came from the Indonesian people and DeFi’s potential to improve the Indonesian financial industry.
“Through IBW 2020, we hope to create open and transparent conversations at DeFi where all Indonesians can participate and share their thoughts on how Indonesia can benefit from this new application of blockchain technology,” Pang explained in a written statement.
Tokocrypto was built by a group of crypto enthusiasts with a strong belief in the benefits that blockchain technology offers to the public in 2018. Tokocrypto aims to become a crypto-asset exchange in Indonesia by providing an easy, simple, instant, and secure platform to transact with confidence.