Serum DEX was a revolutionary Solana-based exchange with zero fees and ultra-fast trades. After FTX collapsed, the community kept it alive. Here's how it works today - and whether it's still worth using in 2025.
SRM Token: What It Is, How It Works, and Why It Matters in 2025
When you hear SRM token, the native utility and governance token of the Serum decentralized exchange built on Solana. Also known as Serum token, it enables fast, low-cost trading, fee discounts, and voting rights within one of the earliest and most scalable DeFi ecosystems on Solana. Unlike many tokens that exist only as speculative assets, SRM was designed to keep the Serum DEX running smoothly—paying for order book maintenance, rewarding liquidity providers, and letting holders shape the platform’s future.
SRM doesn’t work alone. It’s tightly linked to Serum, a decentralized exchange that uses a centralized order book on a blockchain, blending speed with decentralization. This setup lets users trade with near-instant settlement, something most DEXes still struggle with. It also connects to Solana, a high-performance blockchain known for low fees and fast blocks, making it ideal for trading-focused DeFi. Without Solana’s speed, SRM wouldn’t have the performance edge that made Serum popular in the first place. And unlike many tokens that lost relevance after the 2021 bull run, SRM still has real utility: users get reduced trading fees, earn rewards for staking, and can vote on upgrades—even if the hype has cooled.
Some people think SRM is dead because its price dropped after the crypto boom. But that’s not the full story. The token still powers active trading on Serum’s DEX, especially for traders who want to avoid the slippage and delays of AMM-based exchanges. It’s also used by developers building on Solana’s DeFi stack—like lending protocols, yield aggregators, and automated market makers—that rely on Serum’s order book for price discovery. You won’t find SRM in every wallet, but if you’re trading Solana-based tokens, you’re likely interacting with it behind the scenes.
What you’ll find in the posts below isn’t just price charts or vague predictions. It’s real breakdowns of how SRM fits into DeFi, what happened after its airdrops, why some users still hold it, and how it compares to newer alternatives. You’ll see what works, what failed, and what’s still worth paying attention to in 2025. No fluff. Just what the token actually does—and who still uses it.