SRM Unlock

  • For the next 7 years, the team members will aggregate their SRM actions in a pool
  • The team members will vote on how the pool behaves
  • As a general guideline: if the pool does decide to liquidate SRM, it will likely limit itself to small single digits of its total size each year for the first few years at least — in the end, this process is controlled by governance
  • Any buying/selling will be pro-rata for all the participants in the pool
  • This covers every original team member (and has been agreed to by each member)

Tokenomics Structure

Year 1

Year 2 and onwards

  • Only 4% of tokens were sold to private sale investors
  • Team tokens are controlled by governance
  • Circulating supply is closely managed by the foundation

SRM (Revisited)

  • Hold < 100 SRM: 22bps / -3bps
  • 100 SRM: 20bps / -3bps
  • 1,000 SRM: 18bps / -3bps
  • 10,000 SRM: 16 bps / -3bps
  • 100,000 SRM: 14 bps / -3bps
  • 1m SRM: 12 bps / -3bps
  • 1 MSRM: 10bps / -5bps

Next Steps for Serum and SRM

  • Direct Serum DEX upgrades
  • Derivatives on Serum
  • Decentralization
  • EcoSerum grants
  • Institutional access and liquidity providing



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Project Serum

Project Serum is a decentralized liquidity infrastructure protocol. Learn more at