Serum Overview

Founded: 2020

Key persons: Sam Bankman Fried

Capitalization: $1,089,010,683

Trading volume (24h): $354 467 217

CoinMarketCap rank: 94

Serum (SRM) general project description

Serum (SRM) is a decentralized Solana blockchain exchange, launched in the summer of 2020 by ex FTX ( one of the largest cryptocurrency exchanges) employees. At that time, the main objective of the project was to create a trading platform between Ethereum and Solana blockchains supporting a decentralized limit order book, implement its stablecoin, and the possibility of deliverable swaps trading. The exchange is built on the operators’ interaction nodes (currently there are about 24 nodes available), that act as liquidity providers and validators of the transfers in progress. To get a fully certified node status, be eligible to receive a portion of the trade commission, and have the right to receive incentive payments from the project vault, one must have a balance of at least 10,000,000 SRM tokens and ensure uninterrupted equipment operation.

Current state (ecosystem and partners)

Since Serum is the leading technical platform for trading within a single large blockchain, its ecosystem includes a wide range of applications from various fields: Asset Management, Borrowing You & Lending, Games, NFT, Derivatives, Oracle Predictions, Market Storage and Trading Yield. This environment allows the exchange to be one of the largest projects of Solana blockchain locked funds ($700m). Today, the project is in an active growth stage, launching its own DAO, increasing the number of partners, and offering a grant programme for developers. The total turnover since launch is more than $8b.

Future plans and development (roadmap)

Current, third stage of the roadmap focuses on introducing more diverse and interesting escrow and lending options, launching a return management program for capital placed on the site, creating bridges between blockchains (adding l2-Ethereum solutions, Binance Smart Chain), and developing infrastructure for programming teams collaboration. Margin trading is a separate and particularly important step in the roadmap. It is an important tool potentially multiplying exchange turnover and, consequently, attracting new users to the platform.