Buy Serum (SRM)
What is Serum?
Serum is a decentralised cryptocurrency exchange (DEX) and ecosystem that is built on the Solana blockchain. It aims to provide fast, low-cost, and secure trading experiences through its innovative infrastructure and technology. Leveraging Solana's high-performance blockchain, Serum offers features such as a decentralised central limit order book (CLOB) and cross-chain compatibility, facilitating efficient and flexible trading solutions.
How does Serum work?
Serum operates on the Solana blockchain, utilising a central limit order book (CLOB) model for conducting trades. This approach allows Serum to offer sub-second trading and settlement speeds along with ultra-low transaction costs. Smart contracts on Solana execute trades directly from the order book, ensuring decentralisation and security. Serum is designed to integrate cross-chain support, allowing interoperability with other blockchains like Ethereum, enhancing its liquidity infrastructure.
What are the potential use cases for Serum?
Serum supports a variety of use cases, including:
- Decentralised Trading: Utilising Serum DEX for performing fast and cost-efficient trades.
- Cross-Chain Swaps: Enabling asset swaps between Solana and Ethereum.
- Staking and Governance: Allowing staking of SRM tokens and participation in governance decisions.
- Transaction Fee Payments: SRM tokens can be used to pay for transaction fees on the Serum platform.
- DeFi Investment: Providing opportunities for investments in Decentralised Finance (DeFi) through various integrations.
- Tokenization: Facilitating the creation and trading of synthetic assets within the DeFi space.
What is the history of Serum?
Serum was founded by Sam Bankman-Fried and the team from FTX exchange. After brainstorming, the team decided to create a DeFi protocol and opted to build a DEX on Solana due to its efficiency. The seminal whitepaper was released in July 2020, and shortly after, in August 2020, the Serum DEX was launched. Notable events in its history include the forking of Serum after an FTX hack in November 2022, aimed at securing the protocol. Since its inception, Serum has continued to evolve, integrating with projects across the Solana and Ethereum ecosystems and maintaining a strong presence in the DeFi and cryptocurrency landscape.
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Frequently Asked Questions (FAQs)
What is the current price of Serum (SRM)?
The Serum price is $0.05033092 AUD, representing a -0.23% from the day prior.
Where is the best place to buy Serum (SRM) in Australia?
The best place to buy Serum (SRM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Serum (SRM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Serum (SRM)?
The trading volume of Serum (SRM) is $780.4K AUD in the last 24hrs, representing a -0.23% from the day prior.
How can I buy Serum (SRM)?
Serum (SRM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Serum (SRM)?
The current market cap of Serum (SRM) is $18.3M AUD.
Can I convert Serum (SRM) to cash?
Yes - With Coinstash you can convert your Serum (SRM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Serum (SRM) are there?
The current circulating supply of Serum (SRM) is 372.8M.
Is Coinstash a safe place to buy Serum (SRM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Serum (SRM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.