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A platform for decentralized exchanges
Serum is a platform for Decentralized Exchange.
Serum provides a fully on-chain orderbook, allowing other applications to ‘plug into’ Serum’s composable ecosystem.
Their ultimate vision is powering many decentralized exchange, with a total valuation of $100B, reaching 1 billion users and $10T of on-chain value.
They are backed by FTX, one of the largest centralized exchange.
They are built on Solana, because Solana has the highest throughput.
They are a platform. That means they DON’T have a UI for you to use. In fact, anyone can build a GUI.
10% of all SRM tokens begin unlocked. The other 90% all have the same unlock schedule. They are fully locked for the first year, and then unlock linearly over the next 6 years, beginning on the 11th of August 2021, at approximately 1/2190 per day. All seed sales were locked.
Serum charges fees on trades that use its order book. 100% of the fees flow back into SRM, generally via a buy and burn, and also potentially into staking rewards or other ecosystem grants.
Developers can build on Serum.
They even have open sourced GUI.. which means you can run a DEX in under 10 minutes.
You can do it on FTX (centralized exchange).