Serum is a decentralized exchange ( < span > DEX < / a > < span >) and ecological system, Decentralized finance (DeFi) has brought unprecedented speed and low transaction costs. (< a href = "https://coinmarketcap.com/defi/" > < span > DeFi < / a > < span >).

< P >< SPAN >Serum is the only high-performance DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can be combined with Serum's on-chain order book to share liquidity and support transaction functionality for institutional and retail users.

Given the popularity of DeFi and the growth of DEX on Ethereum, users and developers are constrained by high gas costs and slow transactions. Serum aims to address these traditional problems of DeFi, as well as centralization, capital inefficiency and liquidity fragmentation.

< P >< SPAN >SRM utilities and governance tokens enable users to get discounts on protocol fees and voting rights; 100% of transaction costs flow back to SRM through purchase and destruction, mortgage incentives, and ecosystem grants.