In this video I will tell you about the decentralized serum exchange that is the fruit of the collaboration between several notorious actors of the crypto sphere including sam banks manfred co2 ftx and alameda reaser ch alameda is one of the biggest market maker of the crypto sphere as well as one of the largest investment funds in this universe in short we will not waste time wondering about the legitimacy of these roma I give myself the challenge to explain to you in a quarter of an hour why these roms is an application that serves the good of all of course this is not investment advice or a call for buy a token here I will present you a tool that I love and to do that I follow myself the following plan first I answer the question why use the exchange and decentralized 2 how these roms manage to be fast while offering low fresh we will talk about solana and finally I will give you a practical demo of the platform I show you how to deposit funds on it how to place orders whatever you have in short no need for [ __ ] no frills you know the generic formula and let's go first part why choose the decentralized exchange these sums and perhaps the exi meet centralization with ass blows coyne ac de bind closing withdrawals on ok ex when you work on a centralized exchange like when a bynes or kraken recycle bin for purists you must deposit your crypto coins in wallets which you are not not put them the problem is the nature that they note their municipality in addition to that the safety of your personal data is also threatened eh yeah to use most platforms centralized from a certain amount you have to go through horrible small identity verification personal anecdote to complete all this we can also prevent you from accessing your funds if a platform judges that you are behaving suspiciously, such as going on vacation abroad or if it is believed that fraudulent activity is taking place on your account, you can be prevented from withdrawing your funds I was on vacation the withdrawal ip address was necessarily different and the platform whose name I will not mention prevented me from accessing my funds for several days but hey you are ready to make your compromises trust these actors very often to the following profits you want to take advantage of low fees you want you to order is executed almost instantly and you want to benefit of course from the liquidity present on these platforms as well as exchange possibilities intervene why young people decentralized and change the situation what will they allow us to do I know very well that it is boring to migrate his fighting and nice funds towards a ledger and changing his trading habits but it's there where I ask your attention with decks or decentralized exchange you will be able to very of the calves crypt money remaining the absolute masters of you that the private ones finish them rax and withdrawals blocked you to help without creating an account and therefore without spending awful care procedures and if this year a decentralized exchange stood out among others during the boom of the dif 1 you may have guessed the one I'm talking about this is a story this pioneer of the field allows the exchange of tokens based on et terium in a decentralized way without caillou here by facing the constraints of the blog chesnais terium unis swaps had the idea innovate by opting for cash pools, which contrasts with the order book structure classic that we find on centralized exchanges why order books would be expensive on and therion 1.0 simply because everytime you want to edited an order to place a stop loss you must call the contract and place a trade with the current terium costs it can be very expensive, also something that was interesting on a story then open nature everyone could create their own pool of liquidity their own market success was there hundreds of millions of dollars were exchanged every day on a story in sum and bubble and I think it's still the case it was the first decentralized exchange that could compete in terms of volumes with the biggest players centralized but victim of its success the platform has also shown its limits I will quote you some faults 1 it is too expensive to place a fred on united either for you must pay between 1 and 20 euros in fees to call the contract so good scalping and regular round trips you can forget it is these fees that make life flawed a little inaccessible to both you cannot place a trigger order on united either no order limits and three lacrosse chain absences on a story you can exchange that for hours these wines on the blogo chesnais terium finally I will end on the slowness you depend on the block confirmation time on and terium indeed your transaction must be mined and add a block the contract must process your request in short it can last from a few tens of seconds to several minutes depending on network congestion if the network is loaded the costs go up and you will have to pay more so that your transaction is processed before the others in short a real series of problems and serums solves most of them easily thanks to the solana how platform decentralized exchange these roms can be super fast at a lower cost why solana a story is an exchange built on good food and terium the application is therefore restricted for the transactional capacities of the internal network and terium in its current form proof of work can support between 15 and 30 transactions per second do you say that on barnes thousands of orders are executed every second thirty transactions per second is not much if unfortunately the network is saturated in the face of strong demand, the price of gas for miners will increase and you will find yourself paying higher transaction fees and waiting longer on average for each tea xx in the future version 2.0 deteriorates in deep tech these problems should be reduced but we are not there yet unlike the Nice Serum is built on a good much more modern chain named solana seven block chain whose mind is launched this year can support over 50,000 transactions per second with a finality time for each transaction that is less than one second versus 20 seconds about for was nothing enough to put visa and mastercard out on the street how this is possible thanks to the sophie story bow very quickly the proof of history allows parallel execution thousands of instructions by simply adding a marker to each operation temporal which makes it possible to classify this one in the logical order and in fact we do not have to wait for a transaction to propagate throughout the network to confirm this second relayer that she approves girl story allows transactions to be validated one by one rather than waiting the resolution of a block let us note the soldier is a pop song proof of state with for second layer this proof of history system I would like to plow a little more on it but it is not what interests us in this video in short this proof of history this capacity that is what it means and although the network can support a huge number of transactions with extremely low costs the executions are almost instantaneous and therefore the experience user is greatly improved and all this without compromising the decentralization of the network it may sound too good to be true but solana is not yet another shane block to one million transactions per second to the con not not the project and backed by serious actors of the crypto sphere and the controller and have been live for a long time without encountering any malfunctions notorious you will understand the fact that these roms works on that does not give him capacities treatment almost worthy of centralized exchange finally I speak I speak I give you solana and his dresses but what is the platform worth in practice how to deposit funds on it what are the products available are these liquids in short a lot of questions we see that immediately first you need to create a solana wallet on ground and guillot points three steps are necessary before using these roms creating a wallet solana le deposit of funds and connection to the platform here I am on ground is polio I have a sentence side that appears that will allow me to retrieve and import my role is where I want it it is very important to note this sentence to put this sentence safe on a password manager or others because it will allow you to access your funds if you lose it may be a problem so you click on live save the world in space you go to the next step you are asked if you want to set a password me personally I will do it it's a bit like the meta mask every time that you will want to issue a transaction and cdo wallet you will have to type this little password it doesn't eat bread it's always efficient here we are I have a solana wallet which is created and I can now pour sol tokens on it I will need this open sol to use the serum app to pay the fees so I have a button here that allows me to directly bring solana tokens using this address I will do it at from my ftx account I bought solos on it I am looking for sol I click on we draw I paste the address in question the amount that interests me we will take about fifty and voila if you want to bring floors in a much simpler way without have to go through an exchange you can also proceed via meta mask you can bring up to 0.1 and land per instance of terium on your wallet rings what's going on in fact you inform the amount you click on convert you have a small meta notification mask who offers to convert who asks your forgiveness for paying his summers sums seized terium refer to a specific contract which credits you rahan solana after a few confirmations as you can see guys this son are important because of the apple urgent I will not make the transaction for this demo but you see the concept it is enough interesting if we do not want to go through a platform me finally here I show you the example with mme et à masquer but the token ground it is super easy to find it is listed in paris nice ftx gateway you and so on you will not have any difficulty in buying it, we have to sale on our solana toilets and this is where things start to get really interesting we can make transactions on the belote channel solana so that allows us to add other tocane on our toilets solana I repeat a lot of moussoulens year you will see this is very interesting good the popular poken are the bitcoin raft recalled terium rapt full of rc wine like shane lynch and so on you can even add poehl rice and so on that is what these europe stoxx end women are they are coated tokens literally you know if you use bitcoin you depend on bitcoin confirmation time of transaction fees bitcoin network etc etc you what you want to do is put your bitcoin on the blogo chain solana so that they can be exchanged at the speed of solana i.e.

With a finality transactions less than one second and really zero fees so by clicking on add wars bitcoin you issue a small transaction that will be completed in a few seconds and you will have a meeting wrap address that will appear, I will explain to you so you have this bitcoin rapt address you can receive bitcoins that are already on the correct channel solana we are talking about spl bitcoin simplicity bitcoin where you can quote me bitcoins on the blogo solana string every time you create a new address for example at hardware bitcoin you have an address on the native blokhine which is generated that is a bitcoin address on which you will be able to send bitcoins that are on the correct bitcoin channel is once that your bitcoin will have arrived at this address and after a few confirmations the block chain solana you mr to spl beatles once you send bitcoins safe it won't go unrecoverable they will now be much faster and you can exchange them on these roms once you are fed up you want to cashout verona did not go to rouen wallet you click on send and you can send your bitcoin simplicity to the other solana veil or again towards a veil is on the right bitcoin chain we must understand this difference between tokens wrapped on the correct solana chain and tokens from china team blocks you will be able to bring bitcoins from the baule bitcoin chain from ethers to the blocks sanitary and men of rippers sure this does not thanks to this system of envelopes age once your tokens are sent to the native address after a few confirmations they will become solana tokens once they are in solana format i.e.

Spl it could be exchanged at the speed of light in quotes and at low cost on the dexc rome but also on full other applications that work on this lot at any time you can leave the solana network by clicking on stage from your flight is solana and choosing to issue a transaction to a native address you see here I go back to the interface not the notch generate an address for the interiors I can therefore sent via a meta hide eternals on the next solana I can do that also for hippel and the hours is 20 of my choice I click on more I'm afraid it's twenty here just go and get the contract address on and hertz cannes for the game so much interior that interests me and the trial it will be exactly the same transaction costs remain minimal and that is rather appreciable I hope you have understood the logic, do not hesitate especially not to ask me questions on this point the comments wheel I would be happy to answer attention you must be rigorous do not send bitcoin from the chain baule bitcoin to a solana address but hey most of the dials will prevent you from doing that anyway once you wrap your tokens you can swap them on those roms I repeat it one last time what is the serum token for you will ask me and well benefit from reductions on the exchange of these dresses but also to participate in the governance on these roms we will come after I will just add a serum address very quickly to drop off some serum in order to benefit from the first third of reductions but that's just me who wish to do it you do not have to go through it well we get to the heart of the matter I will test the decentralized exchange serum I will not use the basic theme but an interpretation different graphic which is called good girl from at the link is in the description and in comment is not settled everyone can build from these oars his own interest in graphical integration add functions by removing changes and the layout any developer to this possibility it is really open and inclusive at will, I go right into the screen and I'll show you that I'm sure good girl I'm on decentralized next challenge and the first difference that is obvious from a story is that there is a notebook of orders to the right a bit like on bayonnaise or kraken a rain story works with a logic of cash hens to adapt to the neck and the slowness of blocking it indoors layeur one why and good because it would cost a blind to use an exchange to order book on the blogo channel deteriorates in the current state imagine you want to send an order for example a limit order and you have to pay for the 8 euros of average costs on the blog chesnais thériault but wait 20 minutes for it to pass five minutes three minutes is not interesting you and the concept so we can do it technically but it is not not very popular on a land because it costs too much and it's too slow the blu chain solana solves that and will actually be able to afford this structure a notebook of orders as we see on other centralized exchanges you have people who offer a certain amount a certain price for a number of full rate others looking to sell and it moves dynamically and each time you want to make an offer placed by limiting of time you request the solana chain blocks you pay very very very very low fees and in addition you have an execution which is similar to that of the centralized hockey exchanges in the center you have port trading charts biousse as usual and on the left you have the interface which allows you to send buy orders sell orders for low limits and brands and baï you see the concept at the top right we have a button that interests us which is connected to the wallet which will allow us to connect our role is under the exchange hall and after you have other features at the top left that I will present a little later in the video go we are going to connect it here you click on connect I have a little pop up that appears and it offers me to generate a wallet spl by default no we do not need by clicking down on the existing store worked we stick ccid we fill in his password I had to define it I click on would stay it is successful it is almost instantaneous and afterwards I can quite simply authorize serum or at least good fida to execute orders from this veil is without having to approve each time the manual transactions as we would on a story, I will do that automatically at ten approve transaction so I don't type popups bad risks and perils etc there are not too many risks if you are on a clean machine and I click on connect that's it my veil and solana is connected to bonn fida attention the small pop up window that opens must be left open in the background when you use good girl from to the one who proposes to you connect your solana wallet to bonn fidh leave the rudder aside otherwise the junction will no longer be functional good since bones fida is connected to my solana wallet but only two are synchronized there you can see it I have 100 serum tokens this is the minimum to benefit from the first third of discounts on the platform and i will try to buy more serum from solana tokens that I already had on this flight is ok I will look for the pair that interests me in top left of the screen for example solana serum and here I find my soil in this batch which is available i will part with some of the solos didnt all because i need to pay transaction fees to buy some more serum here i will for example use the bar is found on some exchanges to place a Tue 2pm Tue 2pm will be executed directly from what is on the order book to bring me the amount of kent provided otherwise I can also place a time limiter which will actually trigger a buy or sell order as soon as a target price is reached you know where to say for example that I want to buy a bitcoin as soon as it costs 15 thousand dollars while it is at fifteen thousand two hundred these are its trigger orders that you can put on these roms in order books ok there I want that half of my solana be converted into serum so I selected 50% I live on mark kenber srm more than I have authorized bonne fida to execute transactions without verification I am just waiting a confirmation is made on the correct solana channel in this case it is already the case and that I now have more tokens her dresses here are 27 on the scales and wallet balance click on this wing in theory it should join my walad barens it's good I have 138 serum tokens you can see the speed of execution of the platform it is comparable to what we a on centralized systems with fees that are just as competitive I find that it is impressive that we are further along on decentralized structures and what is interesting is really this aspect of cross selling I can also sell tokens for example I want to part with some of my solana for forgiveness of some of my serum tokens to buy solo so what I do is select the correct one pair there I am already I have low and in Serbian and I have the watch order book more selected for example a buy order which corresponds to what I want to sell it I click here sam en scene the thing automatically and they offer to sell 112 locks for 75 solana me I want to sell some I sell it for example 20 sirom tokens teach them to the mano and it will go directly me match is what is in the order book I can make care mark and the one where a limit this one I want to sell at another value where there is not necessarily an order for matches and where is the concept if i do a salt mark it will run instantly well almost instantly there I try to sell 22.1 srm for 14 solana tokens that's the transaction is executed and my balance should not take long to update here and so I find here my only one of solana which has increased a little and that of serum which knows how to go I saw that I sold my possibilities are multiple you have all the pairs available which are popular but you can also search for markets one the list is very long and actually add these roms to the united image swaps these open you can add markets by clicking on admarket choose the asset 1 and the asset of 1 the two assets which will be exchanged mutually and define the rules of your daddy's market it's really open you can do whatever you want after you go on balls in six to find your scales on your wallet solana you also have to riders to see the open orders that you have in progress the green wheel limiters for example I want to buy it serves m usd t come on I'm going to buy let's say give me a little moment i want to buy serums as soon as the price drops to go i brag sorry for serums as soon as the price reached $ 1.20 this is not yet the case so I fill in here 1.20 and I say that I touts everything to me but these roms at that price so 100% the price target the gemmi a wine is exchanged for a 17 at the moment the m 1,25 and I can open limit order in fact I am waiting for a small time for the trade to be executed for the order to be opened and I could find it in a few seconds called open world youth good it's always very fast transaction now confirmed a little while until it is taken into account by the changes decentralized and we see here land rover 116 for a price of 1 25 as soon as the price of these roms on the order book reach this level as soon as someone is ready to buy 116 serum or 1.25 dollar the exchange will match and my order and give me but dollars in fact in a decentralized way when rewinding this order book that you have roja right it is decentralized it is on the breach and solana and my order too and on the spoke and online in fact it no longer depends on me and warms that it is interesting to benefit from this trading comfort that we had before only on the bosses centralized on something to decentralize there I want to cancel it of course it's a small transaction on the blogo channel solana and that's schultz a mortal so there I have more in reopened since I have just canceled it I have my various balances on the pair concerns and there I have constantly serum and I can even see but level of reductions I told you about the more serum you get the more size reduction you have heart on the others you run you see the thierry 600 thousand ten thousand one hundred thousand and one mega serum we are talking about 10 million of these roma that's a fairly large amount me I am above 100 serum so I have a slight reduction on may take her son the tonga game but also to participate in governance in and I was going to forget we are sure of the provocative stake so bové stick and your serum to receive rewards little recap of the usefulness of the game as long as a credit progressive reduction fees on your spent on decentralized exchange serum 2 you can participate in the governance of the project have a say on future implementations changes made to the protocol and finally you will be able to benefit from rewards if you decide to steak and your chips here for the presentation of the main utilities just in srm now I show you the other functions available on these roms we are going to do something rather interesting I go back to full screen mode is what I absolutely wanted to present to you it was the rest of the interface so good the last market button allow you to make a research on existing markets I am looking for example for usd TV-based markets here so you see the concept you talked about if this show you all the only ones you have on your wall is solana the orders which are open as well as a convert tab which is somewhat similar to the tc function on ftx so if you want to switch from one throwing to another quite easily you have your toilet good girl storm the toilet etc a raid button and finally a button swaps either party offers an exchange built on solana a version of her dresses but with hens of cash we are no longer on this whale-style order book structure under kraken as we had on his indexes but on something similar to a story the only difference is that this good pizza swap serum is built on it doesn't no longer works on internally zero point which means that when I want to place a order on a thirst I have to ap the smart contract and pay transaction fees which amount in embarrass there several dollars there since I am sure it did I will pay a few cents for this which is really ridiculous compared to terium in addition the transaction will be completed in less of 5 seconds which is really appreciable it becomes really more profitable to go through these roms be punished either for amounts of a few hundred dollars so I will really invites to explore this tool to test it you can also bring liquidity in the pool a bit like on united is not really difference and you have other tabs erp etc if you need to dig deeper if you want more questions sorry if you run out of questions about the product and it really has the advantage that I find it is very relevant for swaps of several thousand dollars, you keep control over your private keys and this is something that you have often asked me for a solution to exchange full rates without having to depend on a third-party actor for it to be there with the envelope system solana grappling age you can send your bitcoin new token serum homogeneous vote tocane on the right channel solana prefers the swaps you want so we are clearly progress on this level there we have here with these roms a solution appears for the future which makes it possible to process these horns at a lower cost without providing additional identity data I invite you absolutely to try serum to realize the effectiveness of the beast and I leave you all the links you need in descriptions and in pinned comment hope this video you liked and I have something new to tell you I am launching a telegram group to discuss with you for you to interact and the link is also in the description if you have questions about these roms do not hesitate to ask them two teeth on this group telegram i will also organize a competition to win ten ledger brand serums and many other things and it will also be a group through which I will post some links to you that I find interesting a few crypto websites that I found relevant in short a few nuggets I invite you to join him and I tell you very soon for a next video especially to capitulate not learn every day and that the crypt in the style normally

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