Serum (SRM) API and Price Oracle

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Serum

SRM
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x476c...e0fF
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is Serum (SRM)?

Serum (SRM) is a decentralized exchange (DEX) built on the Solana blockchain. It aims to provide fast and low-cost trading for crypto assets. Serum was founded by Sam Bankman-Fried, who is also the founder of FTX exchange. It was launched in 2020 and is backed by FTX and other funding partners. The name "Serum" comes from the medical term, representing the antidote to traditional financial systems. Key features include cross-chain interoperability and a unique order book design.

How does Serum work?

Serum is a decentralized exchange (DEX) that operates on the Solana blockchain. Solana is a high-performance blockchain designed to handle a large number of transactions quickly and at a low cost. As a DEX, Serum allows users to trade digital assets directly from their wallets without the need for intermediaries or custodians.

The technology underlying Serum combines elements of order books and blockchain oracles. An order book is a record of buy and sell orders for an asset, while blockchain oracles are external data sources that provide verified information to smart contracts.

Serum uses an on-chain order book, which means that all trading activities and order matching occur directly on the Solana blockchain. This ensures transparency and immutability, as all transactions and order information are recorded on the blockchain.

To establish the order book, Serum relies on a network of market makers to provide liquidity. Market makers deposit funds into the Serum liquidity pool, enabling anyone to trade with them. This decentralized liquidity makes Serum attractive for traders who seek efficient and cost-effective trading.

The Solana blockchain, with its high transaction throughput and low fees, enables Serum to provide fast and secure trading. It leverages Solana's Proof of History consensus mechanism, which uses a timestamping process to order transactions before adding them to the blockchain. This allows for fast transaction confirmation times and eliminates the need for intensive computational work.

In conclusion, Serum operates on the Solana blockchain, utilizing an on-chain order book and blockchain oracles to facilitate efficient and transparent trading. Its underlying technology enables fast transaction processing and relies on decentralized liquidity to ensure market liquidity.

What are the benefits of Serum?

Serum is a decentralized exchange (DEX) built on the Solana blockchain that offers several benefits compared to its direct competitors. One of the key advantages of Serum is its high transaction speed and low fees. Being built on Solana, Serum can handle a large number of transactions per second, enabling faster trade executions and reducing congestion on the network. In addition, the low fees associated with Serum transactions make it an attractive option for traders.

Another benefit of Serum is its interoperability with other blockchains. Serum's infrastructure allows for the seamless integration of different blockchain networks, providing users with access to a wide range of liquidity pools. This interoperability sets Serum apart from its direct competitors, as it enables cross-chain swaps and expands the trading opportunities available to users.

Furthermore, Serum offers a unique feature called "on-chain order books." This means that Serum's order books are stored and maintained on the blockchain, ensuring transparency and preventing any centralized manipulation. This feature enhances trust in the platform and attracts users who value a transparent and decentralized trading experience.

In summary, Serum's benefits compared to its direct competitors include high transaction speed, low fees, interoperability with other blockchains, and the use of on-chain order books for transparency. These advantages make Serum an appealing option for traders looking for a fast, affordable, and decentralized exchange experience.

What is Serum used for?

Serum is a decentralized exchange (DEX) built on the Solana blockchain. It aims to provide fast and low-cost trading with a high level of security. Serum allows users to trade cryptocurrencies directly from their wallets without the need for intermediaries like centralized exchanges.

Common use cases for Serum include trading and liquidity provision. Traders can easily exchange tokens on Serum's platform, taking advantage of its fast transaction speeds and low fees. Liquidity providers, on the other hand, can provide funds to the platform and earn fees for their contributions. This helps to ensure that there is enough liquidity for smooth trading operations.

One specific case where Serum is useful is for decentralized finance (DeFi) applications. DeFi projects often require reliable and up-to-date price data to execute smart contract functions. This is where blockchain oracles come into play. By integrating with a blockchain oracle, DeFi applications can access verified and accurate price data from external sources. Serum's built-in oracle functionality makes it suitable for DeFi projects that require real-time and secure information.

For example, a DeFi lending platform could use Serum's oracle to fetch the latest price of a cryptocurrency when calculating the collateral value for a loan. This ensures that the loan-to-value ratio is accurate and reduces the risk of liquidations or undercollateralized loans. By relying on Serum's oracle, the DeFi platform can eliminate the need for manual price updates and enhance the overall efficiency and security of the lending process.

Overall, Serum serves as a decentralized exchange on the Solana blockchain, providing fast and cost-effective trading. It is particularly valuable in the DeFi space, where its integrated oracle functionality can be utilized to access real-time and verified price data for smart contract executions.

What is DIA's Serum API?

DIA's Serum API is an essential tool for developers and users in the blockchain ecosystem. With DIA's API endpoints, users have access to real-time price feeds of crypto assets. These price feeds are constructed using raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in accurate and reliable information.

One of the key advantages of DIA's API is the availability of custom feeds. While DIA provides free API endpoints for developers to test, the custom feeds offer even more flexibility and customization. Users can request custom configurations for their specific needs, including sources, methodologies, update mechanisms, and more.

The use cases for DIA's API are vast and diverse. In the DeFi space, the price information from DIA's API can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and much more. For NFTfi applications, DIA's API can support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative use cases.

It's important to note that while the free API endpoints provide a standardized format for developers to test and gain informational insights, the real power lies in the ability to customize the feeds. The tailored custom feeds offer enhanced utility and benefits for users, allowing them to align the API data with their specific requirements.

Overall, DIA's Serum API is a valuable resource for accessing reliable and real-time price feeds in the blockchain ecosystem. The availability of both free and custom API endpoints ensures that developers and users have the necessary tools to leverage DIA's extensive data sources and methodologies for their unique needs.

What is DIA's Serum price oracle?

DIA's Serum price oracle is a smart contract that provides real-time price feeds of cryptocurrencies. DIA's price oracles are highly versatile and can be deployed in over 35 blockchains, including layer 1 and layer 2 networks. What sets DIA apart is their extensive data sourcing. They gather raw data from more than 85 on-chain and off-chain exchanges, including cryptocurrency and NFT exchanges, enabling them to deliver comprehensive and accurate price feeds.

While DIA offers demo oracles for developers to test, these are not suitable for production applications. However, DIA also offers the option to request custom price feeds. This is where the true value lies for users. With custom configuration, users can tailor the sources, methodologies, update mechanisms, and more to suit their specific needs. To request a custom feed, users can reach out to DIA through Discord or Telegram.

DIA's price oracles have a wide range of use cases within the blockchain ecosystem. In DeFi, they can be employed for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and various other applications.

In the context of blockchain technology, an oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in bridging the gap between on-chain and off-chain data, enabling smart contracts to access real-world information. DIA's price oracles serve as reliable and customizable sources of price data for blockchain applications.

Why use DIA's SRM API & price oracle?

DIA's SRM API and SRM Price Oracle offer several benefits to users in the blockchain ecosystem. One of the main advantages is the high level of customisation available. Users can tailor each oracle and API endpoint to meet the specific needs of their decentralised applications. This includes customising data sources, applying data cleaning filters, pricing methodologies, and setting the update frequency. Such customisation ensures that the data and oracle remain robust and resilient to market conditions, providing both global and individual or cross-chain market prices.

Transparency is another key benefit of using DIA's API and Oracle feeds. Users can access full and granular transparency throughout the entire data journey. This level of transparency is crucial for users who require accurate and reliable price data for cryptocurrencies and NFTs. Additionally, DIA provides tracking and monitoring tools to closely monitor its oracle and API feeds, ensuring transparency and accountability.

In summary, DIA's SRM API and SRM Price Oracle offer the benefits of customisation, robustness, resilience, and transparency. By leveraging DIA's technology, users can access accurate and reliable price data for their decentralized applications, enhancing their overall user experience and decision-making processes in the blockchain ecosystem.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.