Serum’s was launched two years ago in August 2020. Serum is a on-chain central limit orderbook that can be composed by others to build exciting DeFi protocols. Serum’s nature as an orderbook makes it fundamentally different from AMMs. In fact, other protocols can compose with Serum to share liquidity and power markets-based features for institutional and retail users. In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers were limited by high gas costs and slow transactions. Serum's aim was to solve these problems, and improve issues of centralization, capital inefficiency, and liquidity segmentation. Serum’s revolutionary on-chain orderbook system, coupled with Solana’s high throughput and low gas costs, has powered the construction and innovation of many sophisticated DeFi products on Solana. Michelle is a core contributor of Serum, a serial entrepreneur and a named member of forbesUnder30.