Conversation

SBF
@SBF_FTX
10) Project Serum is a decentralized ecosystem built from the ground up to meet the world's needs. Serum is fast, and it's cheap, and powerful, and fully cross-chain compatible. And it's truly, fully trustless.
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SBF
@SBF_FTX
11) Serum is built on the
@solana
blockchain. Solana can process 10,000 times as much as Ethereum; and it's 1,000,000 times cheaper. And unlike many side chains, Solana is a fully fledged, decentralized blockchain with over 100 validators.
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SBF
@SBF_FTX
12) This allows Serum to have full central order limit books, with the familiar market, limit, and IOC orders; processing multiple times per second; all while being fully on chain.
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SBF
@SBF_FTX
13) This is then combined with a powerful cross-chain protocol allowing for trustless and efficient tokenization and swaps, meaning that while living natively on Solana, Serum is interoperable on Ethereum.
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SBF
@SBF_FTX
14) Toss in some cool new stablecoin designs, tokenized products, a fast, secure risk engine, and a fully modern exchange and financial ecosystem can live entirely on the blockchain. Together these let Serum's users have the experience they're used to on a centralized exchange.
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SBF
@SBF_FTX
16) Finally, there's SRM: the Serum token, a SPL (Solana based) token that powers Serum. 100% of net fees go to a burn of SRM, holders get discounts on fees, and SRM can be staked on nodes to help optimize the network's performance.
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SBF
@SBF_FTX
17) And, my favorite twist, MegaSerum (MSRM): 1,000,000 SRM tokens stacked together, with limited supply and bonus rewards. All of this will wield funds to build the ecosystem and a specialized governance model to support Serum.
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SBF
@SBF_FTX
18) We hope you are as excited about Serum as we are. Or at the very least, we hope you give it a shot. Serum, and SRM, will start rolling out over the next few weeks.
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