Shibarium Perpetuals is a decentralized exchange that offers spot and perpetual trading without price manipulation and with low swap fees. It features a unique multi-asset pool that enables liquidity providers to earn fees through market making, swap fees, and leverage trading. The exchange leverages Chainlink Oracles and obtains real-time pricing data from high-volume exchanges, ensuring dynamic and accurate pricing for users.
Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (SERP/USDT – Trade it here) on our Innovation Zone! Check it out now!
What Exactly is Shibarium Perpetuals?
Shibarium Perpetuals is a decentralized exchange specializing in derivatives. It enables users to open leveraged long and/or short positions on various cryptocurrencies. The exchange operates with the SERP Liquidity Pool, known as VENOM, where all traders engage in trading activities. VENOM functions as a diverse pool consisting of blue-chip assets and stablecoins. It also serves as a global Automated Market Maker (AMM) for leveraged trading.
Liquidity providers have the option to deposit approved assets into the VENOM pool. Meanwhile, they will receive VENOM tokens in return, representing their share in the pooled liquidity. The multi-asset VENOM pool facilitates trading and generates fees for liquidity providers through market making, swap fees, and leverage trading. To ensure accurate and dynamic pricing, Chainlink Oracles and an average of prices sourced from high-volume exchanges are utilized.
The Backstory of Shibarium Perpetuals
The story begins with Serp, a loyal companion of Shiba, and their noble quest in the wondrous realm of Web3. Serp stands proudly by Shiba’s side, forging a strong bond akin to the revered guardianship of the naga toward the Buddha. Throughout the ages, serpents, known as Naga, have been revered as protectors of the Buddha and sacred places. The legend tells of the great Gautama Buddha, who, while meditating beneath the Bodhi Tree, faced a darkened sky and a relentless downpour for seven days.
Yet, from the depths of the earth, the mighty King of Serpents emerged, sheltering the source of ultimate protection under his majestic hood. Drawing inspiration from this divine tale, Serp aspires to construct a perpetual exchange within the realms of Shibarium. Initially, the contracts will be deployed on Shibarium’s testnet, undergoing thorough testing before ascending to the mainnet. The front-end interface will be meticulously crafted to seamlessly harmonize with both the testnet and mainnet. Thus commences Serp’s ambitious journey, a quest to establish a groundbreaking exchange in the enchanting world of Web3, where limitless possibilities abound.
Staking SERP in Shibarium Perpetuals
By engaging in SERP staking, you will receive great rewards. These rewards encompass Escrowed SERP, Multiplier Points, and ETH rewards. 30% of all fees generated through swaps and leverage trading undergo automatic conversion into ETH, subsequently distributed among the staked SERP tokens.
It’s important to note that the distributed fees undergo calculation after subtracting referral rewards and network costs of keepers, which generally approximate 1% of the total fees. However, even with these deductions in place, the rewards can still prove to be substantial. This renders staking SERP an exceptionally lucrative opportunity for those daring individuals who are prepared to seize it.
Where to buy SERP Token
You can find SERP Tokens here at MEXC! We are listing SERP/USDT in our Innovation Zone!
What is the Price of SERP Tokens?
The SERP token is currently trading at MEXC for $0.0008621. It has a fully diluted market cap of $862,108. It also has a 24-hour trading volume of $109,146. You can check the live price of their token right here!
How to buy SERP Tokens on MEXC
You can buy SERP Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “SERP” using the search bar to see the available trading pairs. Take SERP/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of SERP you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy SERP] to confirm your order. You will find the purchased SERP in your Spot Wallet.
You can find a detailed guide on how to buy SERP Tokens here.
Keep Yourself Updated With The Crypto Trend
Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!
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