Introduction to SRM and MSRM
Serum (SRM) serves as the backbone of the Serum ecosystem, functioning as both its utility and governance token. By simply holding SRM in your wallet, you automatically qualify for discounted trading fees. The token exists natively on Solana's blockchain as an SPL token and also maintains an ERC20 version for Ethereum compatibility.
MegaSerum (MSRM) represents a more exclusive tier within the ecosystem, equating to exactly 1,000,000 SRM tokens locked together. The conversion process works both ways—you can bundle 1 million SRM into 1 MSRM or redeem MSRM back into its constituent SRM. With a hard cap of just 1,000 MSRM globally, these tokens carry inherent scarcity and provide amplified benefits compared to standard SRM holdings.
👉 Discover how SRM powers decentralized trading
SRM Tokenomics Explained
Distribution and Unlock Schedule
- Initial unlocked supply: 10%
- Locked supply: 90%
- Lock period: Full first year
- Unlock mechanism: Linear daily unlocks over 6 years (commencing August 11, 2021)
All seed sale tokens remain locked per the same schedule, ensuring gradual market entry without sudden supply shocks.
Economic Mechanisms
Buy-and-Burn Program
Serum implements a deflationary model where:
- 100% of exchange fees recycle back into SRM
- Primary method: Token buybacks and burns
- Secondary allocations: Staking rewards and ecosystem grants
Fee Structure
The protocol generates revenue through:
- Order book trading fees
- Partner DEX fees (Raydium, Bonfida, etc.)
All fees ultimately benefit SRM token holders through the mechanisms above.
FAQs About SRM Token
What advantages does holding SRM provide?
Token holders receive automatic trading fee discounts and governance voting rights within the Serum ecosystem.
How does MSRM differ from regular SRM?
MSRM represents one million SRM tokens bundled together. It offers enhanced benefits and has a maximum supply of just 1,000 tokens globally.
When did the token unlock schedule begin?
The 6-year linear unlock period started on August 11, 2021, following an initial 1-year full lock.
Where can I track SRM transactions?
Additional Resources
- Official SRM FAQ
- Founder's MSRM explanation thread