About Serum Defi Coin
Serum price today is $1.91 USD with a 24-hour trading volume of $191,791,693 USD. Serum is up 16.78% in the last 24 hours. The current CoinMarketCap ranking is #132, with a market cap of $95,395,987 USD. It has a circulating supply of 50,000,000 SRM coins and a max. supply of 10,000,000,000 SRM coins.
The top exchanges for trading in Serum are currently Binance, OKEx, HBTC, CoinBene, and BitZ. You can find others listed on our crypto exchanges page. Serum is a very, very ambitious project. While its long list of promises would make it a write off for many, the proof is in the pudding; the team and the tokenomics. Sam Bankman-Fried is nothing short of a mad DeFi scientist
Serum Defi Coin describes itself as a decentralized derivatives exchange with trustless cross-chain trading. The Serum Project is a collaboration between centralized derivatives trading platform FTX, and Solana. EcoSerum supports projects built on Serum.
Quick Fact About Serum Defi Coin
| Coin Basic | Information |
|---|---|
| DEFI Coin Name | Serum |
| Circulating Supply | 50,000,000 SRM |
| Total Supply | 10,000,000,000 |
| Contract Address | 0x476c5e26a75bd202a9683ffd34359c0cc15be0ff |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To Visit |
| Twitter Group | Click Here To Visit Twitter Group |
| Documentation | Click Here To View |
| Project Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Economics
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, approximately 1/2190 per day. All seed sales were locked.
Supported cryptocurrencies
Serum Defi Coin is lagging a bit behind other decentralized exchanges in terms of the number of coins and trading pairs listed. Currently, Serum lists 15 coins and 30 trading pairs including Bitcoin, Ethereum, Chainlink, Solana, Swipe, Yearn.Finance etc. See here for a full list.
The Team
The Team Behind Project Serum Project Serum is coined to be the new DEX to be launched by FTX Exchange- a cryptocurrency exchange and derivatives platform. Check out our review of FTX Exchange. The founders of Project Serum are also behind FTX exchange and they have also partnered with titans in the industry who have successful projects including the founders of Multicoin Capital, TomoChain, Compound, and Kyber Network.
Serum ($SRM) Token
$SRM is Serum Defi Coin governance token based on the Solana blockchain but alternatively also has an Ethereum or ERC-20 version.
Around 10 billion SRM was minted as the maximum supply at inception; of which approximately 175m tokens will be circulating initially and will grow to 181 million tokens after the IEO (see below). This amount is then set to grow by around 15% annually. It gives holders governance power over the Serum ecosystem. While most components in Serum are deemed immutable, some parameters, like future fees, can be modified via SRM governance votes. The net prices are used to buy and burn the SRM tokens.
SRM can be staked and can also be utilized to pay for fees. This gives SRM holders as much as 50% discount on all trading costs. Also, 90% of all SRM tokens are designed for long-term hold or lock-ups. This is to ensure that the team is here for the long-term.
SerumBTC and Serum USD
Serum BTC is a wrapped utility token in which price is pegged or tied up with its underlying asset or BTC form. It’s also an entirely decentralized Solana-based BTC token.
Meanwhile, Serum USD is a decentralized wrapped stable coin which follows both ERC-20 and SPL tokenizations for USD and has no single point of failure.
Solana
Serum is the first DEX built on Solana. Solana is a web-scale blockchain that can potentially reach 710,000 transactions per second (tps). This is possible with a verifiable delay function called SHA 256 hash chain that enables Optimistic Concurrency Control. At present, it can handle around 50,000 tps, which is exponentially faster than Ethereum’s 15 tps.
Cross-chain Support
Serum Defi Coin has cross-chain support which enables the trustless exchange of assets from different blockchains. This is a striking contrast to other protocols that would require trusted parties to permit cross-chain swaps. Serum opts to do this is in a fully decentralized way, using over 100 validators.
Is Serum safe?
Serum Defi Coin is a decentralised exchange. Unlike with centralised exchanges, you do not need to send your funds to them to the Exchange in order to trade cryptocurrencies. However, you still need to be aware of security, for example, to keep your recovery phrase and password to your Sollet wallet safe.
On the other hand, decentralised exchanges are not controlled by a single entity, so if you make a mistake e.g. send your cryptocurrencies to the wrong address etc, there will not be anyone to help you.
