Serum
SRM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SRM (Serum) is effectively a defunct and abandoned project following the collapse of FTX in late 2022. Active development is non-existent with no code updates, releases, or proposals found since 2021. Tokenomics and utility have ceased functioning after the community forked the program to OpenBook, leaving SRM with extreme structural overhang (~96% uncirculating supply out of 10B max). Market activity has collapsed to minimal liquidity ($5.2k–$38.5k daily volume) and a ~99.8% drawdown from all-time highs. Identifiable active team members and active governance are absent. Note: Community Support and Security and Audit History sections lacked sufficient reliable data (-1.0) and were excluded from the weighted score calculation. Because the project is defunct, abandoned, and superseded by community forks, the token carries extreme risk with no viable utility.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Serum (SRM)
Serum (SRM) is an abandoned and defunct token that originally served as the native utility and governance asset for a decentralized exchange and order book protocol built on the Solana blockchain. The project was designed to facilitate on-chain trading, offering token utility through trading fee discounts, staking mechanisms, and an 80/20 fee buy-and-burn model. It also featured a governance framework that included a DAO voting platform and a structured community forum.
The project suffered a collapse in November 2022 following the failure and insolvency of FTX and Alameda Research, which held centralized influence over the protocol. Following the November 2022 FTX hack, the original mainnet program was compromised and rendered non-functional, leading the community to fork the underlying codebase into a separate project named OpenBook. This fork effectively terminated the original protocol's operational utility and active governance.
Serum has seen no active development, software releases, or governance proposals since 2021, and it lacks an active, identifiable management team. The token has experienced a price crash of approximately 99.8% from its all-time high of roughly $13.78, accompanied by severely reduced trading volume and a significant supply overhang, with roughly 96% of its 10 billion max supply remaining non-circulating. Today, SRM persists only as a residual legacy asset with no active use case.