Statement from the Serum Team on the Future of the Project: What Will Happen to the SRM Token?

The team of the widely used liquidity center Serum (SRM) in Solana (SOL) made important statements about the future of the project.

FTX and of Alameda having a good bull season with its investments SRM, going through difficult days after the bankruptcies. Picture of the project twitter The post shared from his account included details about what will happen in the future. Despite everything that happened”there is hopeMaking a statement on the theme of ”, the authorities made the following statements about the fate of the project:

The Serum bifurcation effort, led by Max from Mango, is going strong. Users and protocols can safely transact using an alternative fork such as Openbook, leaving behind the security risks of legacy Serum code.

Last week on the serum network hard fork decision had been made. The reason for this decision is FTX after hacking allegations It was based on the fact that the SRM network might have been compromised. After the hard fork, there was a notable increase in the price of SRM and its volume in the liquidity pools started to increase again. After the hard fork, the SRM community left the mainnet, leaving liquidity pools with no volume.

It was announced that the mainnet, which was abandoned after the hard fork event, was finally terminated with today’s posts. While the developer team was looking for a solution to this situation, he called on the community to share ideas and help.

In the continuation of the tweet series “The future of SRM is uncertain” was stated. The reason for this uncertainty is that the community has not yet reached a consensus on what to do with the assets left in the FTX and Alameda wreckage. The SRM team welcomes community members and investors to join Openbook and provide feedback. In this way, it is planned to take a healthier step for the future of SRM and the fate of its governance structure.


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