Serum is a fully decentralized exchange created by Project Serum and other experts in the crypto assets and DeFi space, designed to support trustless cross-chain trading. After the Serum Foundation establishes the Serum protocol, there will be no restrictions on Serums authority, and the Serum Foundation will not hold any special rights within the Serum ecosystem. The entire Serum ecosystem will be entirely handed over to users and run by the cryptocurrency community – fully decentralized.

The Serum project will issue its native token SRM, which primarily functions similarly to the platform tokens of many centralized exchanges. Fees paid by users for each trade will be used by the system to buy back and burn SRM. For SRM holders, holding the token reduces trading fees by 50%, and these fees can be paid using SRM.

Additionally, Serum introduces a unique concept: one million SRMs can be synthesized into a special MegaSerum (MSRM) token, which can also be converted back into one million SRMs. Users holding MSRM tokens receive a 60% reduction in trading fees, making it particularly attractive for high-volume traders.

Moreover, to provide a decentralized cross-chain solution, there are validators in the Serum system. By staking ten million SRMs, including one MSRM, one can become a validation node, earning fee income for providing cross-chain services, as well as receiving Staking rewards distributed by the system.