A brief look at the data behind Serum

Quick Take

  • Serum, built on a high throughput blockchain Solana, is an orderbook-based non-custodial exchange
  • In October, Serum generated $44.6 million in volume and then $111 million in November
  • On an average day, Serum already has nearly 10 times higher volume than Binance DEX but 15 times lower than Gemini
  • Knowing that Serum burns 80% of all fees, we can deduce that Serum has generated roughly $800,000 of revenue since launching in late August
A non-custodial exchange Serum was announced in late July amid the DeFi craze and launched in late August. Serum is the brainchild of the Serum Foundation — which includes FTX and Alameda Research staff, as well as external partners and advisors. Some of the partners include Multicoin Capital, Kyber Network, CoinGecko, and Gauntlet Network. The advisors include […]

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