DeFi Exchange Serum announced the SRM Staking mechanism: the node threshold is 10 million SRM

DeFi Exchange Serum announced the SRM and MSRM Staking mechanism and governance mechanism on the official website. Serum stated that the rewards obtained by the staking model do not come from inflationary issuance, but from the platform utility of the source. Although 1 MSRM is equal to 1 million SRM, the staking rewards obtained by staking one MSRM will be slightly more than the staking rewards obtained by staking 1 million SRM. Staking nodes need at least 10 million SRMs, and each node needs at least 1 MSRM. At the same time, the Serum platform will design a mechanism to buy back or burn all trading platform rewards. Lianwen previously reported that Solana-based DeFi exchange Serum announced the completion of a private equity round of financing, with a total financing amount of approximately US$20 million in three days. The initial selling price of MSRM was US$30,000, and the final price was about US$80,000. The average price was US$50,000. A total of 400 MSRMs were sold (1 MSRM = 1 million SRM). All private placement rounds will be unlocked linearly from the second year of launch, and will be unlocked in the seventh year.