Explained: What Is a Serum Coin (SRM)?
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The popularity of decentralized exchanges has been on the rise over the past year, with the decentralized finance (DeFi) movement forcing developers to focus on issues surrounding complete decentralization. Despite demonstrating certain advantages (e.g., the ability to combine intuitive interface and access for substantial liquidity), centralized exchanges will never achieve the level of security that decentralized exchanges offer. One example of the latter is Serum. In order to become the cornerstone of the DeFi ecosystem, Serum has decided to offer a set of exciting new features.
What Is Serum (SRM)?
Serum is a fully decentralized ecosystem based on Solana. Its main focus is interoperability, and the highlight of its ecosystem is decentralibility. Serum offers an easy-to-use platform from which any crypto token can be exchanged for another without the need to go through any KYC procedures. Serum’s DEX uses the traditional swap system, allowing users to add any trading pairs they like.
Since Serum is built on Solana’s blockchain, its DEX benefits from capabilities worthy of a centralized exchange while users retain full control of their funds. Thanks to its cross-chain features, you can trade BTC, ETH, ERC20 tokens and SPL tokens (Solana’s token standard), among others. These features allow DeFi users to find in Serum a truly decentralized platform, which has all the convenience offered by centralized platforms and more.