## What Is Serum?

Serum is a decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi). ([DeFi](https://coinmarketcap.com/defi/)). 

Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.

In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers are limited by high gas costs and slow transactions. Serum aims to resolve these traditional problems of DeFi, as well as issues of centralization, low capital efficiency, and liquidity segmentation. 

The SRM utility and governance token enables users to receive discounts on protocol fees and voting rights; 100% of exchange fees flow back to SRM via buy-and-burn, staking rewards, and ecosystem grants.


### Who Are the Founders of Serum? 

Serum is an open source project created by a consortium of partners including FTX, Alameda Research, and the Solana Foundation. 

Its development is currently supported by the Serum Foundation, backed by a group of experts in cryptocurrency, trading and decentralized finance. The project borrows much of its design and thought leadership from a wide number of firms in the cryptocurrency and finance industries.


#### What Makes SRM Unique? 

Serum DEX’s on-chain central limit order book and matching engine provides liquidity and price-time-priority matching to traders and composing projects. Users benefit from this exchange model through the ability to choose the price, size and direction of their trades. Composing projects benefit from Serum’s existing architecture, bootstrapped liquidity, and matching service.


#### Related Pages:

Learn more about [Serum](https://docs.projectserum.com/).

Learn more about [Solana](https://solana.com/).

Learn more about the world of cryptocurrencies at the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).


#### How Many Serum (SRM) Coins Are There in Circulation? 

Serum’s (SRM) circulating supply is at 54,861,111 SRM as of August 2021, with a maximum supply of 10,000,000,000 SRM.


### How Is the Serum Network Secured?

Serum is built on Solana and is completely permissionless. Solana is a web-scale blockchain that can reach 50,000 transactions per second and 400ms block times. This is achieved through a verifiable delay function, known as SHA 256 hash chain. Serum’s design is meant to ensure that DeFi can compete against centralized services.


### Where Can You Buy Serum (SRM)?

Serum (SRM) can be bought and sold on a number of exchanges, including the following:


*   [Binance](https://coinmarketcap.com/exchanges/binance/)
*   [OKEx](https://coinmarketcap.com/exchanges/okex/)
*   [HBTC](https://coinmarketcap.com/exchanges/hbtc/)
*   [BitZ](https://coinmarketcap.com/exchanges/bitz/)
*   [Xtheta Global](https://coinmarketcap.com/exchanges/xtheta-global/)
*   [FTX](https://coinmarketcap.com/exchanges/ftx/)

If you are new to buying, selling, or trading cryptocurrencies, you can read our Bitcoin buying [guide](https://coinmarketcap.com/how-to-buy-bitcoin/).


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