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Serum: Decentralized Exchange Software
Serum is a decentralized exchange software built on Solana and created by Alameda Research in conjunction with the FTX Exchange in 2020. Serum is designed to be a decentralized orderbook run by a network of smart contracts that aims to mirror traditional exchanges by matching buyers and sellers. This orderbook model gives investors the flexibility to manage their own pricing, order sizes and fee tranches when they submit an order– creating a seamless decentralized trading experience. The decentralized orderbook model, introduced by Serum, is also an improvement on protocols utilizing an Automated Market Maker such as Uniswap, Sushi and Bancor due to the lower slippage and faster transaction throughput.
In traditional exchanges, order books represent the list of buyers and sellers organized by specific price levels by a central entity. Serum’s decentralized exchange aims to automate the old orderbook model and bring it on-chain by matching sellers and buyers based on their orders through smart contract technology. Unlike automated market making, Uniswap/Sushi/Bancor, Serum gives participants full control over their orders. This gives investors the ability to choose the price and size in which they want to purchase an asset or sell an asset.
The Taebit protocol will plug directly into Serum and leverage its decentralized orderbook model in order to allow Taebit users to reap the benefits of fast transaction times, low-fees and preferred order sizing and pricing
Last modified 8d ago
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