What is Serum?
Serum is a decentralized derivatives exchange (DEX). Built on Solana blockchain, Serum is capable of processing transactions many times faster with lower costs. The Serum project is a partnership between FTX, a centralized derivatives trading platform, and Solana, a low-cost blockchain that can interoperate with smart contracts.
In March 2021, Serum launched the Serum DEX feature that allows users to place limit orders and update real-time orderbooks. The Serum project also releases SerumBTC and SerumUSD stablecoins existing as SPL and ERC-20 tokens, helping to process cross-chain contracts.
Serum is backed by famous advisors in the crypto community such as Robert Leshner (Founder of Compound), Sam Bankman Fried (CEO of FTX and Alameda Research), Gary Wang (CTO of FTX) and Long Vuong (Founder & CEO TomoChain).
What problem does the Serum solve?
Serum was created to solve the problems that exist in the DeFi sector today:
- Dependence on a centralized oracle for data distribution
- Slow speed, expensive cost
- Dependence on external stablecoins
- Cross-chain swap issues
SRM Token
SRM is the native token of Serum with the following functions:
- Governance: tp participate in voting for the development of the project
- Transaction fees: to pay transaction fees on cross-chain
- Staking: to get staking rewards
Specifications
- Project: Serum
- Symbol: SRM
- Blockchain: Solana, Ethereum
- Total supply: 161,000,001
- Circulating supply: 50,000,000
SRM Token Allocation
- Ecosystem bonus fund: 27%
- Partners: 27%
- Project contributors: 22%
- Development Team & Advisor: 20%
- Auction and locked seed buyers: 4%
SRM token Price today
How to buy SRM
Serum (SRM) has been listed on Attlas Exchange.
Traders can easily and securely buy SRM with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find SRM
Step 5: Select Buy
Summary
This article is an overview of Serum (SRM), not a financial advise.
Users are advised to do their own research before making any trading decisions.