What is Serum?
Serum is a protocol for decentralized exchange (DEX) built on the Solana blockchain by Serum Foundation; the foundation was created by FTX and Alameda Research. Serum is a completely permissionless protocol with high speed, and low transaction costs to bring users the best trading experiences.
Where does Serum stand for?
Serum provides users a fully on-chain orderbook, in which enhancing the user experiences with trading interfaces to plug into Serum’s composable ecosystem.
Serum lives in the heart of the ecosystem, playing the role as a Liquidity Center to its ecosystem applications, each with their own technology and set of users. Users who create a trading application such as an AMM can leverage the Serum’s liquidity and its ecosystem advantages.
Serum combines a pack of components: Traders, Creators, Institutions, Developers.
How does Serum work?
Serum will unveil a fully decentralized exchange with trustless cross-chain trading by providing seven main features:
- SRM: The Serum native token will be fully integrated into Serum and benefit from buy/burn of fees.
- Cross-chain Swaps: This feature is aimed to provide users a trustlessly exchange to transfer assets between chains, giving the current DeFi ecosystem easy access to the speed and efficiency of Solana (not working now).
- Order-book: A decentralized automated full limit orderbook which offers traders full control over their on-chain orders with directions, prices and sizes. The Serum protocol includes a large number of optimizations to the matching engine in order to make the order matching faster and cheaper.
- Full Ethereum and Solana integration: This feature provides users a fast and effective exchange while being interoperable with the Ethereum ecosystem and those ERC20 Tokens.
- Physically settled cross-chain contracts: This is one of the most important features to assist users a fully trading experience in DeFi with synthetic assets.
- SerumBTC: A fully trustless model to create ERC20 or Solana tokenization of BTC (not working now).
- SerumUSD: A model to create decentralized stablecoin (not working now).
Detailed Information about SRM Token
SRM token key metrics
- Token Name: Serum
- Ticker: SRM.
- Blockchain: Solana.
- Token Standard: SPL.
- Contract: SRMuApVNdxXokk5GT7XD5cUUgXMBCoAz2LHeuAoKWRt
- Token type: Utility Token.
- Consensus: Proof of Stake.
- Total Supply: 10,000,000,000 SRM.
- Circulating Supply: 50,000,000 SRM.
SRM Token Allocation
- Ecosystem Incentive Fund: 27%
- Partner & Collaborators Fund: 27%
- Project Contributors: 22%
- Team & Advisors: 20%
- Locked Seed & Auction Purchaser: 4%
SRM Token Release Schedule
SRM Token Use Cases
The SRM token will have these main roles:
- Governance: User owns the SRM token can vote to the project’s proposals.
- Staking Reward: Node supports the cross-chain transactions.
- Fee: SRM Token can be used as fee on the protocol. All fees go to the benefit of SRM.
How to get SRM Token
Users can get SRM token by:
- Buy on CEX, DEX.
- Reward users for staking/farming/yield farming,…
How to buy SRM Token
You can buy SRM Token on DEXs such as Serum,… Alternatively, you can use Coin98 Exchange to swap other tokens for SRM.
Learn more: How to use Coin98 Exchange
How to store SRM Token
You can store SRM token on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search SRM Token.
Step 3: Click on the correct result, copy the wallet address and send SRM to this address.
Team, Investors, and Partners
Serum Team includes:
- Robert Leshner: Founder, Compound.
- Sam Bankman Fried: CEO, FTX & Alameda Research.
- Gary Wang: CTO, FTX.
- Long Vuong: Founder & CEO TomoChain.
Serum receives a large number of investment from many famous names such as Multicoin, Parafi, Alameda Research, Kyber Network, TomoChain,…
Roadmap and Update
Direct Serum DEX upgrades:
- Options for reduced fees; to be used in, for instance, stablecoin <> stablecoin markets: available for teams that are building stableswap protocols that compose with Serum.
- Permissioned markets: the ability to restrict which accounts can trade on a market.
- Automatic settlement using associated token accounts.
Derivatives on Serum:
- Perpetual future products: 2022 Q1 – 2022 Q2.
- Borrow-lending, with support for a wide swath of collateral tokens: 2021 Q4 – 2022 Q1.
- Spot margin: 2022 Q1 – 2022 Q2.
- Decentralized cranking coordination so that new projects can avail of existing crank services.
- Fully decentralized Serum buy and burn.
- Scaling up grantmaking.
- Decentralizing the grantmaking progress.
- Institutional access, liquidity providing:
- Building out standardized API interfaces to the Serum DEX and projects in the Serum Ecosystem
- Supporting REST, websocket, and FIX access.
- Onboarding CeFi partners.
- Market maker incentive programs, including for use by new projects composing with existing markets.
- Optimizing RPC server performance for common DEX operations.
Is Serum a good investment?
Serum will be able to gain this large market share by eliminating DeFi difficulties. DEX and Cross-chain are two categories that are now gaining traction and will continue to do so in the future. Through the usage of the technologies mentioned above, Serum can widely expand in a short time.
Serum’s decentralized ecosystem is also fast, cheap (10,000 times faster and 1,000,000 cheaper than Ethereum), strong, and user-friendly, according to FTX’s CEO.
Serum competes with other DeFi initiatives like Chainlink, Compound, Maker, and so on in the DeFi market.
Binance DEX, ETH’s iDex, Neo’s Nash, and TomoChain’s Tomodex are some of the competition that Serum must be aware of if it wants to be at the top.
Raydium is an AMM and liquidity provider built on the Solana blockchain for the Serum decentralized exchange (DEX). Raydium has an advantage as an AMM within Serum and will be an integral part of bringing new and existing projects and protocols into the ecosystem.
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