Serum (SRM) Crypto Exchange
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What Is the Serum(SRM) Coin?
Serum is a high-performing decentralized exchange. It is designed to facilitate high-speed and low-cost transactions in decentralized finance (DeFi).
The DEX has its own on-chain central limit order book and matching engine. It gives the ecosystem partners the option to compose along with the projects’ on-chain order book to share liquidity and trading features with its retail and institutional users.
The aim behind it is to solve the issues plaguing DeFi such as slow speed of transactions, low gas fees, efficiency, etc. It also wants to resolve issues of centralization, liquidity segmentation and low capital efficiency.
The protocol is built on the Solana blockchain and SRM is its utility and governance token. The coin allows its users to get discounts and ecosystem fees, get voting rights, etc. The DEX returns 100% of the exchange fees back to the protocol through buy-and-burn, staking rewards and ecosystem grants.
Founders Of The Serum (SRM) Coin
The project was launched in 2020 as an open-source project. It was created by a consortium of FTX, Alameda Research and the Solana Foundation.
After the recent troubles with FTX and its associates, it is currently handled by the Serum foundation. The Foundation is backed by experts in cryptocurrency, decentralized finance and trading.
The majority of the project’s designs and leadership are derived from the best practices across various firms in the cryptocurrency and the financial world.