Serum is a fully decentralized exchange that supports cross-chain transactions without third-party trust, jointly created by Project Serum and other encrypted assets and experts in the DeFi field. After the Serum Foundation establishes the Serum protocol, Serum will not have any authority restrictions, and the Serum Foundation will not have any special rights in the Serum ecosystem. The entire Serum ecosystem will be completely handed over to users and run by the cryptocurrency community - fully decentralized.

The Serum project will issue the native token SRM, which is similar to the platform currency of many centralized exchanges. The fee paid by the user for each transaction will be used by the system to repurchase and destroy SRM. For SRM holders, holding coins can reduce transaction fees by 50%, and transaction fees can be paid with SRM.

In addition, Serum also designed another special concept: every 1 million SRM can be synthesized into a special MegaSerum (MSRM) token, and MSRM can also be exchanged for 1 million SRM. Users who hold MSRM tokens can get a 60% transaction fee reduction, which is more attractive for users with large transaction volume.

In addition, in order to provide a decentralized cross-chain solution, the Serum system also has the role of a validator. You only need to pledge 10 million SRM and include one MSRM to become a validator node. At the same time, part of the service fee income is collected, and the verification node can also receive the Staking reward distributed by the system.