I wrote this bedtime story in August 2020, when Serum (SRM) just entered the market. It was one of the projects in which I invested first and did the research after! As we speak, Serum reached a new All-time High. I bought at $1.30 and I was more than happy to see it at $8.12 when all other cryptos are affected by the bear market.
Chapter 1: The FOMO
The growth of new coins and tokens, specially DeFi projects is a mixed result of lack of research, FOMO pumps and hype buying. I joined FOMO club by investing in Serum (SRM). My investment was based on seeing people talk about Serum and my fear of missing out another DeFi unicorn. Absolutely no research was done before buying 30 SRM at $1.30.
The next couple of days I watched the price going up to $2.15, and then to drop below purchase price. I was considering selling it to reduce the amount of money lost into this bad investment, but I decided to give Serum one weekend before that. During the weekend, the SRM price had a 13% rise which made me reconsider the mundane aspect of the market, and think twice before abandoning all hope and sell for few extra bucks, I decided to HODL as DeFi is still trending and to pray that Serum will not be added in next S*itcoin Bonanza post! Since then the value surged by 24% and made me do what I was supposed to do before investing, learn about Serum and where is it place in the DeFi ecosystem.
Chapter 2: Summoning the Elemental
Serum is the world's 1st completely decentralized derivatives exchange with trust-less cross-chain trading but for me Serum was a water-drop which slowly grew into a water elemental, the best companion for a crypto-mage.
It was 11th of August, a dry day in DeFidorm, and this mage apprentice was ready for the Arcane Magic exam. The had to conjure a spell that will be the antidote to DeFi's struggles.The mage apprentice had to summon a complete decentralized entity, offering cross-chain support and high speed. The Mage High Council gathered around the summoning altar and the ceremony started. The young apprentice focused and activated his connection with the DeFi Arcane Magic and had a mouthful of Solana potion before starting the main spell. The potion, a bottled scalable block-chain can speed up spells up to a maximum of 710,00 transactions per second. The air around the altar cracked with static electricity and a flash of light blinded everyone witnessing the ceremony. In the middle of the altar was now a small droplet of water, no bigger than a $0.10 coin. The Council was sad the apprentice failed but then... the droplet moved. The droplet kinda evolved tiny arms and a head, and the droplet was now a tiny water elemental. The young mage apprentice called his creation Serum, cause as planned, will be the antidote to many issues in DeFidorm.
Chapter 3: The Elemental Surge
All his fellow wizards were thinking that even if the summoning succeeded, the Serum elemental was too tiny and fragile, but to everyone's disbelief, the elemental grew to geyser size in only half a day. Just 12 hours after his creation, Serum surged in size by 1500%.
Since then, Serum grew bigger and bigger, assimilating more power from the environment. If was a common thing for his size to drop after battles or when the Apprentice was low on mana, but every time the duo's path was onwards and upwards. As I am telling you the story, Serum reached his All-Time High at $2.47. This exponential growth was possible due to the total decentralized down to its seed protocol, and the non-custodial exchange with cross-chain trading support and no KYC required.
Chapter 4: The Antidote
Serum served his purpose and was the much needed antidote. Through his power, it decreased the fees up to 60% less, hustle free exchange between chains and guilds, and better interoperability with the most common type of magic, the Ethereum. This amalgam of magic was successful by combining the derivatives trading platform and the boost given by the Solana potion, which gave low-fee, high-speed, interoperable smart contract blockchain abilities. The Ethereum magic dominates the crypto world and even the mages of Defidorm are relying on Ethereum.
Chapter 5: From droplet to legend
The story of the little water droplet who evolved into a powerful water elemental may continue beyond time but unfortunately the rest of the book couldn't be saved when the FireLords invasion devastated the DeFidorm library. However, there are folklore tales about how a young mage apprentice become DeFidorm Arch-mage and with the aid of his Tsunami size water elemental saved the kingdom many and many times.
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