SRM is the utility and governance token of Serum. This token is available as a native to the Solana blockchain as an SPL token, and it is still available on the Ethereum blockchain as an ERC-20 token as well as on the BNB chain as a BEP20. The token facilitates fast and low transaction costs in decentralized finance. The token is built on a high-speed, non-custodial, and order book-based DEX on Solana that intends to maintain trustlessness and transparency with the transactions and operations. It also benefits from the buy/burn of fees.
A Bit About Serum
The official founders of the token have not been named as per the whitepaper. The utility token lets its holders receive discounts on their trade fees and stakers to vote and participate in the platform's governance mechanism. The coin derives its value from the utility on the network, as it is the preferred form of payment. Therefore, the users can spend the token to enable reduced fees on the platform. Also, the users who would not want to operate a node but would want to receive staking rewards can delegate the tokens to any node operator and unlock a part of the reward. The future fees of the protocol could change due to the token governance votes despite all protocol services being seen as immutable. The token accrues value via utility, and its seed sales have lasting lock-ups meant for long-term supporters. The token is described as not for a quick profit, as 25% of the tokens have interminable unlocking periods.
Enabling blazingly fast speeds and low costs in the decentralized finance space, powered by the Solana network.CryptoLists.com
The token is the backbone of the Project Sereum ecosystem, and it is natively on Solana as an SPL token and cross-listed as an ERC-20 and BEP-20 token also. Serum is used for staking in the decentralized exchange, minimizes trading costs, and runs a validator node. The token is a utility and governance token of the platform. It is used for transaction payments and staking while users use the token as part of a limited governance model. Serum intends to eliminate vulnerabilities in the DeFi space due to incomplete decentralization. The token uses the complete limit order book, decentralized and automated, and lets traders control their orders. The token, therefore, offers its holder's protocol governance privileges, staking incentives, trading fee reductions, and fee revenues.
Utility of Serum?
Users interested in having CEX-like features on a DEX use the token and match with the buyers and sellers to complete their transactions. The token has reduced fees, and it is used for staking rewards. The staking ensures the efficiency of SRM in performing well-defined functions. Also, Serum creates the potential for insurance fund management of the platform. Additionally, users can participate in buy and burns for 100% of net fees. The utility of the token includes making payments for transaction fees. It also facilitates a limited governance model. The utility token's service as a governance tool shows that it has a 'cross-chain' swap feature, allowing traders to exchange crypto assets between blockchains freely. The governance ensures that the token stakers have entrance into the network's voting system.
The votes determine the platform's future, and users can propose yields, buys/burns, grants, and other choices. Serum uses the strategy to prevent centralization, giving its users direct control over the generated revenue.
Serum Price detailsSOL Contract address: SRMuApVNdxXokk5GT7XD5cUUgXMBCoAz2LHeuAoKWRt
›› Details & Tokenomics
Advantages of Serum+ The token lets its holders receive discounts on their trade fees.
+ Buy/burn of SRM reduces supply and increases its demand.
+ Serum is fast and efficient with interoperability with other blockchains.
+ Orderbook organization makes the token flexible and controllable during trading.
+ Highly scalable and lets traders experience centralized exchange while using DEX.
Disadvantages- Serum's project is still in its infancy stages.
- Limited options on wallets to store SRM.
- Volatility in the market could alter its performance.
- Challenges in cross-chain swapping as ETH has to be present.
- The whitepaper does not explore the dispute mechanism.
Costs▪ Rated at 9.5/10
The costs of using the token to make a transfer show that it charges fees on trades that use its order books. For applications such as Raydium and Bonfida, they charge additional fees in addition to those set by the token's platform. These fees go to the benefit of the project. The costs show that 20% of the net expenses go to the project or the GUI hosting the activity, and 80% go to buy/burn the token. Due to the buy/burn model, the tokens used for the transaction fees are removed from circulation. Currently, the network transaction cost is 0.00001.
Reputation and Buzz▪ Reputation rated at 8.5/10
▪ Buzz rated at 7.9/10
The token utilizes the Solana blockchain for its DeFi protocol which ensures fast, efficient, and low-cost transactions. Serum is also interoperable with Ethereum despite being on the Solana blockchain which excites users to utilize it with other ERC-20 tokens. Users of the token can stake it to earn various rewards which is an appealing feature for many. They can engage with the token and experience low costs and cross-chain trading. 1,000,000 tokens can be locked to create the scarce MSRM which increases utility in the ecosystem. SRM is already listed in the leading cryptocurrency exchange, Binance despite being a relatively new token, which increases the confidence of its users. The high following on Twitter which is above 210K active members, shows that the users advocate for the token and its use in the crypto world.
How can one buy the tokens?
The token is available in several exchanges that you can find towards the bottom of the page.
How many tokens of SRM create MSRM?
Users require 1,000,000 of the native token to create an MSRM token for increased utility.
What is the maximum supply of the token?
The token has a maximum supply of 10,000,000,000.
History of Serum
July 2020 – official publication of the Project Sereum white paper.
August 2020 – Initial Exchange Offerings for the token on BitMax and the FTX cryptocurrency exchanges.
March 2021- Facilitated launch of Serum DEX V3.
October 2022 - Serum DAO set yo adopt a new governance system.
December 2022 - The Serum project falls into big trouble due to the collapse of the FTX exchange, with the future labelled 'uncertain'.
Screenshots from Serum
More sites where to buy/sell/trade SerumBelow you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Serum details and tokenomics
ETH Contract address: 0x476c5e26a75bd202a9683ffd34359c0cc15be0ff
BNB Contract address: 0xd63CDf02853D759831550fAe7dF8FFfE0B317b39