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Serum Exchange Rendered ‘Defunct’ Following the Collapse of Alameda and FTX

The Solana-based decentralized exchange (DEX) has notified its community that the collapse of its backers — Alameda and FTX — has rendered its program “defunct”. 

The team behind the project shared that “there is hope”, in spite of its ongoing challenges, because of the community option available to "fork" Serum. 

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. 

FTX Alameda
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