SRM Serum Rank #2398

Serum (SRM) is a decentralized exchange (DEX) protocol and on-chain ecosystem developed for the Solana blockchain, where it is designed to enable fast, low-cost trading and other decentralized finance (DeFi) activity. Rather than relying on the automated market maker model used by many DEXs, Serum maintains a fully on-chain order book, allowing users to place and match orders in a manner comparable to the trading interfaces of centralized exchanges while remaining non-custodial and transparent. Within the broader Solana ecosystem, Serum functions as shared infrastructure: other protocols can tap into its liquidity pools and order-matching engine to support their own derivatives, synthetic assets, and token launches. The SRM token is the native asset of the network and is used to pay transaction fees, participate in governance, and align incentives among liquidity providers and traders. The project was also built with cross-chain compatibility in mind, and SRM has historically circulated on Ethereum alongside its Solana deployment, allowing it to bridge DeFi activity across distinct blockchain environments.