Serum is a Solana-based protocol for decentralised exchanges (DEXs) that is designed to make decentralised finance (DeFi) faster and more affordable. Founded in 2020, and backed by the Serum Foundation, FTX, Alameda Research, and the Solana Foundation, Serum combines the benefits of open, fair, and permissionless systems with familiar elements of traditional finance, aiming to drive the global mass adoption of DeFi. Serum Core is a powerful asset agnostic central limit orderbook – an execution method that matches bids and offers according to price and time priority – that can be utilised by protocols to provide liquidity to users. Using Serum, a diverse range of decentralised applications (dApps) and developers can share middleware and a single source of liquidity, making it accessible to both retail and institutional investors. SRM is an SPL utility and governance token native to the Solana blockchain that can also be used on Ethereum as an ERC-20 token. SRM holders have specialised governance power over the Serum ecosystem, and the majority of Serum network fees are used to purchase and burn SRM tokens to increase demand. Read more about SRM and other cryptoassets on eToro.