What is SRM?
SRM is the Serum ecosystem token. It is natively based on the Solana blockchain and also has an Ethereum (ERC20) version. It will also be tokenized on other blockchains by locking up the Solana version.
Attributes:
Accrue value through utility, not hyperinflation
All seed sales have long-term lockups; they are meant for long-term supporters of the Serum ecosystem, not quick profit
90% of all tokens have long-term unlocking periods, underscoring commitment to Serum
MegaSerum (MSRM) is a scarce asset that gives increased utility to core believers in Serum
Buy/burn of 100% of platform net revenue
SRM gives specialized governance power over Serum
How do you get an SRM airdrop on FTX?
We have committed to dispersing 5% of the total supply of SRM back to FTT holders over time. For now we intend to do roughly the following [updated 2020-08-019]:
This begins after SRM is listed.
Users who hold 500 FTT or more unlocked on FTX will be eligible to participate in SRM airdrops.
Users will receive 3 locked (1-7 year) SRM airdropped for every 500 FTT unlocked held each week, with no upper limit.
Snapshots of FTT holdings will be taken randomly, and airdrops will be distributed to eligible users wallets every Tuesday after the FTT buy and burn.
For more information about Serum and SRM: www.projectserum.com. Locked SRM (1-7 year) means SRM that is fully locked until 2021-08-01 and unlocks linearly over the 6 years after that.
Note that the form, timespan, etc. of this may be updated while remaining consistent with the total of 500m SRM tokens over time.
*All FTX airdrop programs are in the discretion of FTX and may be modified from time to time. FTX may adopt rules and requirements for any of its airdrop programs.
FTX Crypto Derivatives Exchange: https://ftx.com