Serum is built on the Solana blockchain and functions as decentralized exchange software. Its goal is to reduce the effects of centralization, capital inefficiency, and liquidity shortcomings that exist in today’s DeFi ecosystem. Serum launched in 2020 and provides a full set of tools intended to help users expand their DeFi potential throughout the Solana network. 

SRM serves as the platform’s native cryptocurrency.

What are Serum’s key features and how does it work?

The Serum protocol is designed to be an alternative to the automated market making (AMM) approach. At the core is a decentralized order book system that supports how the platform runs. Rather than using liquidity pools for trades, Serum uses smart contracts to mirror traditional exchange behavior by pairing buyers with sellers. That order matching is handled automatically through smart contracts, giving traders more flexibility-such as control over pricing and order size. Trading fees are paid in SRM. 

Serum is compatible across chains. This allows users to trade tokens from other ecosystems through cross-chain swaps. Supported destinations include Ethereum and Polkadot. In addition, decentralized applications on other networks can make use of Serum’s provided tools.

What can SRM be used for?

SRM is a utility token within the Serum network. It can be used to cover transaction costs, and holders may receive discounted fees when they choose SRM to pay those fees. The Serum ecosystem also includes another native currency, the MegaSerum token (MSRM). Users who have locked 1,000,000 SRM can swap that amount for 1 MSRM token. Holding MSRM provides stronger rewards than holding the equivalent value in SRM. Also, to run a node and help secure the network, users need to hold a minimum of 1 MSRM token.

Where can you buy SRM?

SRM can be traded on the following CEXs and DEXs listed here. Among the most popular venues with the highest liquidity are Binance, AscendEX, OKX and Gate.io. The SRM price will change based on which exchange you use and broader market conditions. For current and historical market pricing, check the SRM price charts on this page.