What is Serum (SRM)?

Serum or SRM (SRM/USDT – Trade it here) is a decentralized ecosystem based on Solana blockchain. Serum provides services to its ecosystem applications, and for each application, they use their own technology and have different users. Anyone can develop a trading application that makes use of Serum’s ecosystem advantages and liquidity. Algorithmic traders, developers, and retail traders can all connect to Serum and use its pooled liquidity, or they can create a marketplace. In this article, we will talk about everything you need to know related to Serum, plus an instruction on how to buy SRM token.

Why on Solana?

The open infrastructure needed for widespread adoption is provided by the Solana blockchain, which is quick, safe, and immune to censorship. The Solana blockchain is the foundation of Serum. The performance and technical advancements of Solana, which enable it to achieve low transaction latency (by blockchain standards), high throughput, and cheap costs, led to its selection.

The creators of Serum understood that DeFi had the potential to gain 1 billion users and $10T in on-chain value. The decision to build on Solana and address these problems at Layer-1 was made in order to accommodate current blockchain limits and the size of this ambitious project.

Brief Introduction of SRM Token

The utility and governance token of Serum is called Serum (SRM). You save money on fees if you carry SRM in your wallet. In addition to being accessible on the Ethereum blockchain (ERC-20 token), SRM is native to the Solana blockchain as an SPL token.

Additionally, MegaSerum (MSRM) is also available on Serum. It is a stack of 1,000,000 SRM. One MSRM can be created by locking up one million SRM, and one MSRM can be redeemed for one million SRM. However, there are only 1,000 MSRM in existence, making them scarce practically. SRM typically offers benefits, while MSRM typically offers greater benefits.

Tokenomics of SRM

10% of SRM tokens start out unlocked. The unlock schedule for the remaining 90% is uniform. Beginning on August 11, 2021, they are entirely locked for the first year before being linearly unlocked over the following six years at a rate of around 1/2190 each day. Every seed sale was secured. Please see below for visualized SRM tokenomics:

How does Serum work?

Orderbook

In order for applications like trading interfaces to “plug into” Serum’s composable ecosystem, Serum offers a fully on-chain orderbook. Participants in Serum have complete control over their commands. They now have the freedom to decide the price at which they want to buy and sell their assets as well as the order size they like.

Each trade has a charge attached to it, just as on any other exchange, and it is expressed in SRM. Serum wants all net fees to be converted to a buy-and-burn mechanism, which means that the tokens used for transaction fees will be retired from the market.

Swap Across Chains

Cross chain swaps, which enable any member to transfer tokens that exist on other platforms, are one of Serum’s most valuable features. The cross chain swaps process takes place once both sides pay ETH to a smart contract as collateral, using cross chain exchange between ERC-20 tokens as an example. Both parties will get their ETH collateral back if the sender gives their token to the receiver in exchange for their token.

When it comes to dispute, the smart contract holding the collateral checks the blockchain ledger to establish who is correct. The smart contract then returns the assets to the individual they believe to be in the right along with some of their collateral in an effort to reward good conduct.

How to buy SRM token?

You can buy SRM on MEXC following the steps:

1. Log in to your MEXC account and click [Trade]. Click on [Spot].
2. Search “SRM” using the search bar to see the available trading pairs. Take SRM/USDT as an example.
3. Scroll down and go to the [Spot] box. Enter the amount of SRM you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy SRM] to confirm your order. You will find the purchased tokens in your Spot Wallet.

Recent SRM Price & Performance

SRM reached the highest price (ATH) of $13.69 on September 11, 2021. The lowest price since the date of ATH was $0.69 on October 13, 2022.

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