Project Serum is the world’s first completely on-chain decentralized cryptocurrency exchange with trustless cross-chain trading. The Serum DEX provides its customers with fast and efficient and permissionless trading between digital assets across chains.
On Sereum, traders can trustlessly exchange assets between chains (ie. BTC for ETH or any ERC-20 token and vice versa).
Project Serum aims to deliver a more intuitive, full limit order book dex with full liquidity and crosschain interoperability. It aims to solve the fundamental issues apparent in existing DeFi – slowness, high pricing, and cross-chain interoperability.
In doing this, Project Serum has the potential to reshape the current DeFi landscape.
Completely Decentralized:
Most DeFi protocols bottom out in a centralized oracle – often in the most crucial step, Serum doesn't.
Cross-Chain support:
BTC isn’t on Ethereum, so how can a smart contract know or impact its transfers? Serum enables you to trustlessly exchange assets between chains with no centralized parties involved.
A solution to the onchain stablecoin dilemma:
A stablecoin that is always worth a dollar but also doesn’t rely on a bank account not getting shut down. Serum’s SPL and ERC-20 USD stablecoin are decentralized stablecoins with no single points of failure.
Full Limit Orderbooks:
Serum supports the best technology from centralized exchanges; no need to take a step back with automated market making. Serum’s orderbooks are decentralized, automated, and entirely limit-order based.
Speed:
Serum makes trades that don't cost a dollar to place or take minutes to clear. Serum is fast and efficient.