Serum (SRM) Price

Serum(SRM) is a decentralized exchange protocol that combines the best of DeFi and CeFi by using its on-chain Order book design. The project was developed by the Serum foundation (a group of cryptocurrency trading and Defi experts). Anyone worldwide can open an account with Serum almost instantly. Serum is built on Solana, where traders buy and sell cryptocurrency. Sam Bankman (FTX & Serum founder)decided to make SRM on Solana because it presents quicker and cheaper transactions than other blockchain networks. This means that Serum can benefit from the speed and cost of transactions carried on Solana. Serum is a next-level Decentralized Exchange(DEX)that seeks to rival automated market maker(AMM) designed platforms like Sushi or Uniswap. Serum provides cross-chain support, which ensures that traders can exchange digital tokens on different platforms such as Polkadot or Etherum. Regardless of the type of blockchain the other DeFi projects are on, they can utilize Serum's liquidity and features. SRM is Serum's utility digital token that allows holders to get up to 50 % discount on trade fees. It also enables stakers to participate and vote on the governance technique. SRM can support cross-chain trading, cheaper and safer than trading using a third-party method such as a custodial exchange. Users can enjoy a transparent & permissionless cross-network transaction experience. The SRM digital token is an SPL token that is housed in the Solana blockchain network. The token provides a key role in the workings of Serum. Users can pay fees or send value using the SRM token. The founders put a 10 billion cap on SRM tokens. Previously the plan was to supply 1 billion tokens. Currently, there are 50 million tokens in circulation, with the remaining tokens delayed for release guided by a time liquidity lock. The developers and founders of Serum recognized earlier on that decentralized exchange required to begin providing extensive features. This would help them compete with dominating platforms in the same space. This inspired the developers to build a happy medium that extends the programmability and responsiveness of its features. It is for this reason that Serum is doing well in the market.