Crypto Investment Fund, FD7 Ventures added Serum (SRM) to their portfolio. Serum is a DEX, or decentralized exchange, and project ecosystem built on the Solana chain. It aims to be a faster solution with transaction fees that are as low as $0.00001, with sub-second trading and settlement times.
FD7 Ventures has a crypto portfolio that includes Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Cosmos (ATOM), and now Serum (SRM).
FD7 Highly Impressed With Serum
Prakash Chand, the Managing Partner of FD7 Ventures, is noted to be highly impressed with the co-creator of Serum, Sam Bankman-Fried. Sam is the founder of the crypto-derivatives platform FTX and CEO of quantitative crypto trading firm Alameda Research. Chand stated,
“Beyond being a visionary and an incredible philanthropist, Sam is someone who gets things done. He has outlined an amazing roadmap to make Serum the fastest and cheapest DEX out there. Not just a little bit faster or more affordable, but exponentially so. In order to reach true scalability where 1B people are transacting in DeFi and crypto, the goal is to be a million times faster than Ethereum. From what I've seen, I believe Sam and his team have the resources to get it done.”
Sam is known for his extreme worth ethic, building FTX to be the largest crypto exchange by volume a few years after graduating from MIT. Sam is now focussing on working towards greater adoption of Solana and growing the Serum ecosystem. These goals are stepping stones to his vision of bringing 1 billion people to the DeFi and crypto space.
About FD7 Ventures
FD7 Ventures is a Dubai-based global crypto investment fund with $1 billion under management. The fund was started by serial entrepreneurs Prakash Chand and Q Dhalla. The company leads investments in all stages of blockchain and crypto projects and manages cryptocurrency assets for high-net-worth investors.
Recently, FD7 announced that they have begun selling bitcoin assets worth $750 million to invest in Cardano and Polkadot. The move made the two altcoins towards a bull market. The increase in these altcoin holdings will serve their investors looking to diversify portfolios in the growing crypto space.
About Serum
Serum is a decentralized exchange (DEX) and ecosystem that brings speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless. Serum is entirely decentralized, down to its seed protocol, and designed to be completely interoperable with Ethereum and Bitcoin.