$0.23511253
24H %
4.31%
24H Low
$0.21904362
24H High
$0.26407384
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About Serum

Sector

DeFi


Industry Group

Exchanges


Industry

Exchanges (Other)



The Serum price is $0.24, a change of 4.31% over the past 24 hours as of 5:12 p.m. The recent price action in Serum left the tokens market capitalization at $61,364,371.01. So far this year, Serum has a change of -93.18%. Serum is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


SRM is the native token of Serum, a decentralized exchange based on the Solana blockchain.

SRM price

Serum launched in August 2020, trading at $1.70. Aside from a brief spurt to $3.60 in early September, SRM bumbled along at about $1.20 until 2021. When bitcoin rose to its first high of the year in the second quarter, SRM hit highs of $11.73. When BTC crashed, so did SRM, which fell to $2.46 in July 2021.

SRM’s all-time high of $13.72 on Sept. 11, 2021 preceded BTC’s all-time high by about two months; it’s a similar story for most decentralized finance (DeFi) coins. And, like most of DeFi, SRM crashed hard going into 2022. By June, it had fallen to lows of 94 cents.

Serum’s total-value locked (TVL) peaked at $1.88 billion in early November 2021, just as crypto’s market cap hit an all-time high. Serum’s TVL crashed along with its price. At the start of June 2022, Serum’s TVL had fallen to just $288 million.

SRM has a fixed, capped supply of 10,161,000,000. It released 10% of these at launch. The rest will be released linearly until August 2027. Contributors and early investors, whose tokens are subject to lockups, will receive 46% of the supply. The remaining 54% will be used to incentivize activity on Serum and collaborate with other protocols.

Each week, Serum burns SRM equivalent to four-fifths of the exchange’s revenue, and gives the rest to SRM stakers.

How does Serum work?

Serum is a decentralized exchange based on the Solana blockchain. Rather than relying on the automated market maker model made popular by Uniswap and Curve, which facilitates token swaps from huge reserves of tokens called liquidity pools, Serum relies on an order book.

Order books match buyers with sellers. Place an order to sell $10 worth of SOL for USDC and Serum will pair the trade with someone who wants to buy $10 worth of SOL for USDC. Centralized crypto exchanges, like FTX and Binance, operate this way.

This model doesn’t work so well on the Ethereum blockchain, where a single trade can easily cost $100 in times of network congestion. Solana is cheaper; trades on Serum cost $0.00002 in gas.

SRM is Serum’s governance token. It also entitled holders to reduced trading fees on Serum, and those that stakes SRM on Serum also receive 20% of fees on the platform.

The protocol also has a second token, megaSerum (MSRM), that is required to run a staking node on Serum. It entitles holders to increased rewards and is created by locking up 1 million SRM tokens.

Serum key events and governance

Serum was created by the Serum Foundation. Among its most notable members are crypto trading firm Alameda Research and crypto exchange FTX. Both were founded by multi-billionaire Sam Bankman-Fried, a major Solana investor.

Serum raised $20 million in a private seed round and $660,000 in two token sales on FTX and BitMax.

While Serum is native to Solana, SRM also trades as an ERC-20 token on Ethereum. Serum integrated with Solana’s cross-chain bridge, Wormhole. In November 2019, Serum partnered with Raydium to provide additional liquidity to the hybrid decentralized exchange (DEX).


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$61.36M

$137.22M


Serum Price

24H Open
$0.22512923
24H Change
$0.00971235
52 Week Low
$0.12087000
52 Week High
$5.15
All Time High
$13.78
Returns (YTD)
-93.18%

Serum Market Stats

Total Supply
261.00M
Max Supply
N/A
24H Value Transacted
$291,773.08
30D Volatility
3.69
24H Transaction Count
129
24H Average Transaction Fee
N/A

About Serum

Sector

DeFi


Industry Group

Exchanges


Industry

Exchanges (Other)



The Serum price is $0.24, a change of 4.31% over the past 24 hours as of 5:12 p.m. The recent price action in Serum left the tokens market capitalization at $61,364,371.01. So far this year, Serum has a change of -93.18%. Serum is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


SRM is the native token of Serum, a decentralized exchange based on the Solana blockchain.

SRM price

Serum launched in August 2020, trading at $1.70. Aside from a brief spurt to $3.60 in early September, SRM bumbled along at about $1.20 until 2021. When bitcoin rose to its first high of the year in the second quarter, SRM hit highs of $11.73. When BTC crashed, so did SRM, which fell to $2.46 in July 2021.

SRM’s all-time high of $13.72 on Sept. 11, 2021 preceded BTC’s all-time high by about two months; it’s a similar story for most decentralized finance (DeFi) coins. And, like most of DeFi, SRM crashed hard going into 2022. By June, it had fallen to lows of 94 cents.

Serum’s total-value locked (TVL) peaked at $1.88 billion in early November 2021, just as crypto’s market cap hit an all-time high. Serum’s TVL crashed along with its price. At the start of June 2022, Serum’s TVL had fallen to just $288 million.

SRM has a fixed, capped supply of 10,161,000,000. It released 10% of these at launch. The rest will be released linearly until August 2027. Contributors and early investors, whose tokens are subject to lockups, will receive 46% of the supply. The remaining 54% will be used to incentivize activity on Serum and collaborate with other protocols.

Each week, Serum burns SRM equivalent to four-fifths of the exchange’s revenue, and gives the rest to SRM stakers.

How does Serum work?

Serum is a decentralized exchange based on the Solana blockchain. Rather than relying on the automated market maker model made popular by Uniswap and Curve, which facilitates token swaps from huge reserves of tokens called liquidity pools, Serum relies on an order book.

Order books match buyers with sellers. Place an order to sell $10 worth of SOL for USDC and Serum will pair the trade with someone who wants to buy $10 worth of SOL for USDC. Centralized crypto exchanges, like FTX and Binance, operate this way.

This model doesn’t work so well on the Ethereum blockchain, where a single trade can easily cost $100 in times of network congestion. Solana is cheaper; trades on Serum cost $0.00002 in gas.

SRM is Serum’s governance token. It also entitled holders to reduced trading fees on Serum, and those that stakes SRM on Serum also receive 20% of fees on the platform.

The protocol also has a second token, megaSerum (MSRM), that is required to run a staking node on Serum. It entitles holders to increased rewards and is created by locking up 1 million SRM tokens.

Serum key events and governance

Serum was created by the Serum Foundation. Among its most notable members are crypto trading firm Alameda Research and crypto exchange FTX. Both were founded by multi-billionaire Sam Bankman-Fried, a major Solana investor.

Serum raised $20 million in a private seed round and $660,000 in two token sales on FTX and BitMax.

While Serum is native to Solana, SRM also trades as an ERC-20 token on Ethereum. Serum integrated with Solana’s cross-chain bridge, Wormhole. In November 2019, Serum partnered with Raydium to provide additional liquidity to the hybrid decentralized exchange (DEX).


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Latest About Serum

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Serum’s SRM Tokens Double in Price After Emergency Fork in Wake of FTX Hack

The Serum token price rose as high as 32 cents, from a low of 12 cents just two days ago, as community members of the decentralized exchange scrambled to implement an emergency fork in the wake of security concerns triggered by the hack of Sam Bankman-Fried's FTX exchange.

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Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.