Serum is DeFi ecosystem built on Solana. To be honest, I didn't have a chance to explore Serum before, and the amount of Solana I hold now is minimal (which I used for testing purposes), but now I will study Serum more, and hopefully after the war, after Ukraine wins, will create several articles exploring the Serum ecosystem.
In these hard times, I'm very thankful to all crypto companies, communities, and individuals who one or another way help Ukraine. 100 000 SRM is $211 000 at the moment of writing this post. And below I'm republishing the press release from Serum Medium
Today the Serum community has elected to donate 100k $SRM to Ukraine relief efforts. The donation will be made to the Aid for Ukraine DAO, which is a collaboration between the Government of Ukraine, EverStake, and the global crypto community.
A supportive community is at the core of Serum’s founding principles, which allows the Serum DAO to operate successfully. However, this belief does not only apply to the Serum ecosystem. The Serum community is dedicated to supporting those in need by utilizing our industry-leading technology, security, and transparency services.
During times of crisis, it is of the utmost importance that those affected have the funds necessary to purchase medical supplies, food, water, shelter, etc. However, traditional payment systems fall short of bringing these funds into the country; and converting donations into the local currency, whose value can fluctuate greatly, becomes a difficult task. Additionally, scammers look to play on these situations and launch fake charities in attempts to steal from supporters, making transparency and safety a key factor in the fundraising process.
This is why we have chosen to invest through the Aid for Ukraine DAO. EverStake has partnered directly with the Ukraine Government, so supporters know exactly where the money is going and that it will be put to good use. Serum is fully opposed to the war and is looking forward to continuing to work with EverStake to support the Ukrainian people.