Serum
Crypto Overview
Overview
Serum is a decentralized exchange (DEX) protocol built on the Solana blockchain. It was designed to provide high-speed, low-cost trading with a fully on-chain central limit order book and matching engine. The SRM token serves as the native utility token of the Serum ecosystem.
Purpose and Utility
The SRM token was created to serve multiple functions within the Serum ecosystem: governance participation, fee discounts for traders, staking rewards for node operators, and protocol value accrual through token burns. The token has maintained these core utilities since its inception.
Current Status
As of 2023, following the collapse of FTX (which was closely associated with Serum), the original Serum protocol has been largely abandoned by the community. A new fork called OpenBook has taken its place, though the original SRM token maintains some residual utility for historical Serum DEX users.
Business Model Analysis
The original business model was based on legitimate exchange operations, with transparent fee structures and clear value proposition for token holders. The protocol did not engage in lending or interest-bearing activities, focusing instead on facilitating asset exchange.
Development Activity
While the original Serum protocol is no longer actively developed, during its operational period it maintained significant development activity and achieved notable adoption within the Solana ecosystem. The technical infrastructure it created continues to influence DEX development on Solana through its fork.
Crypto Impact
To assign a comfort level investing in Serum from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Serum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.