Although rendered “defunct”, the team said there is still hope due to the ongoing community-led fork.
According to the announcement, “a community-wide effort to fork Serum is going strong”. OpenBook, the community-led fork of the Serum V3 program, is already live on the Solana Mainnet with over $1M daily volume, supported by continuous efforts to expand it and grow its liquidity.
The existence of OpenBook however poses a threat to Serum, because “with Openbook's existence, Serum's volume and liquidity has dropped to near-zero” as users and protocols prefer Openbook because it’s a safer option following the security risks associated with the “old Serum code” which was compromised in theWhen it comes to its SRM token, the DEX shared that the “future of SRM is uncertain”, as community members appear divided on the subject.
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