Too Long; Didn't Read
Project Serum is a decentralized exchange (DEX) for the decentralized finance (DeFi) sphere from the same team that created FTX Exchange. It is said to test the boundaries of DEXs using a non-Ethereum blockchain. Serum was created to solve the centralized vulnerabilities existing in the current DeFi space in the same trustless and permissionless way that DEX traders are comfortable with. The team boasts that the DEX is already functional, but it hasn’t been launched as of now.