SRM is the core utility token that is the backbone of the Serum ecosystem. Using SRM, traders can get up to 60% off fees on the Serum DEX, stake to earn more SRM, and participate in future platform governance voting activities. SRM is an SPL token that runs natively on the Solana blockchain but is cross-listed/also available as an ERC-20 token. The Serum network is a cross-chain decentralized exchange (DEX) and ecosystem that brings high speed and low transaction costs to DeFi. Serum leverages Solana’s network capabilities to enable permissionless cross-chain trading using their fully on-chain, decentralized order book model. This gives DeFi traders complete control over their orders by letting them set Limit Order, Stop Loss, Bids, and Offers, unlike other DEXs that follow an AMM model. 

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