Serum (SRM) is a decentralised exchange (DEX) protocol and ecosystem designed to enable high-speed, low-cost trading on blockchains. It was developed by FTX and the Solana Foundation and launched in August 2020 with a vision to address critical issues faced by existing decentralised exchanges, such as slow transaction speeds and high costs. Built on the Solana blockchain, Serum leverages Solana's cutting-edge architecture to offer sub-second trading and settlement, making it one of the fastest in the market. Key characteristics include a fully on-chain order book, cross-chain asset swaps facilitated by the Serum DEX, and decentralised finance (DeFi) integrations. As a non-custodial platform, it provides security and transparency, empowering users with greater control over their assets.