After making own research, here is my answers to the homework task by @reminiscence.

Token

Token are asset which are digitally based unit of value closely related to Crypto coin. Token are Cryptocurrency which are been built on existing blockchain. Crypto token uses the resources of the blockchain on which it is been built, likewise the security and the miner of the blockchain of which it is built on. Token are used to represent a part of the blockchain and initial coin offering (ico) or a presale is been made for the token to finance it and get it to the market.

Example of tokens and blockchain on which they are built

Token	blockchain
Aave protocol	Ethereum
Uniswap	Ethereum
Pancakeswap	binance smart chain
Serum	solana
WINkLink	Tron

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Difference between a token and a coin?

A crypto token and a coin are most times mistaken by crypto user to be the same but this Cryptocurrency are quite different. A coin is the sole and native Digital current of a blockchain. A blockchain is a digital database which serves as a leger on which all transactions are been recorded in a particular network. A token on the otherhand as defined above is a Cryptocurrency been created on an existing network. This is the major difference between a coin and atoken other differences are

• All fee for transactions on a particular blockchain are been paid by a coin which is the native currency of the blockchain whereas a token as other functions than for trading purpose alone.
• Coin are more expensive and difficult to create as compared to token because they need to create and build a blockchain which need time, resources and technical know how before they can be created whereas token requires only little technical know how.
• A token can eventually migrate from a blockchain it's using if the token create it's own blockchain . Some project started as a token on the etherum blockchain before becoming a coin on its own blockchain. Whereas a coin cannot migrate from its own blockchain.
• Example of coins including Ethereum, binance coin, Tron, solana e.t.c and example of token has been given in the table above.

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Categories of token and it's features

• Utility tokens: utility tokens even from it's name utility which means to be useful is a token which is used for the payment of access given by a blockchain to a user. The utility token are used to provide offer and services to it's end user. It's features is it's ability of purchase or payment for services.

• Security tokens: security tokens are token which are been purchased for the sole aim of making profit, just as investing your money in a local bank to receive interest. This token are been seen as an investment as most are been issued out through initial coin offering (ico) and investors get them to secure a form of assets for themselves which serves as a link between their digital and traditional asset.

• Equity tokens: Equity tokens are token that are use to secure asset like stock and other ownership right on the block chain. Equity token are similar to security token just that they the holder of an equity token has right to profit made on the network or services offered by the community on which he holds their token.

• Non-fungible token (NFT): NFT are token in form of digital art work which has it own unique piece of which are associated to a particular user. Nft can be exchanged with another nft or other Digital currency and they give artist a way to market their products digital and provide security to their art against counterfeit.

features of a token

• A token is been built on an existing blockchain which serves as legber for it transcations
• Presale or initial coin offering (ico) is been made to make a token available to users
• A token like other cryptocurrency is decentralized as it is been built on a blockchain

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Details on Serum, a token on solana blockchain

Serum is a decentralised exchange with its own token known as the SRM built on the solana blockchain. Project serum just like the uniswap on Ethereum blockchain or the pancakeswap on the binance smart chain serves as the dapp exchange on the solana network by matching buyer and seller with a high speed and low transaction fee.
Serum as a decentralised exchange support the cross chain features which gives it user the grace of exchange token or coin on other network and SRM is the utility token used on the serum eco system.
Serum was developed by serum foundation and co founded by its CEO Sam Bankman-Fried and other group of crypto expect in 2020
To use the serum exchange you will be required to create a sollet wallet so as to enable interaction with the solana blockchain.
SRM price is $8.09 with a market cap of $404,264,830. It has a circulating supply of 50,000,000 SRM coins and a max. supply of 10,000,000,000 SRM coin. The token is currently been traded Binance, OKEx, upbit and some other exchange.

Features of serum token

• It is been built on the solana blockchain
• 20 percentage of the transaction fee go to its stalkers while the remaining 80 percentage is been burnt off
• Feasibility of price and order as will of the user
• About 60% of transaction fee which is as low as $0.000001

Aim of the projects

Serum is the first completely decentralized exchange (defi) with a cross-chain trading. Serum aims at providing high speed and low transaction fee for exchange of crypto currency. The SRM token enable holder to receive up to 60% discount on transcations fee. Allow stalkers to perform in governing activities by voting.

Conclusion

Many people mix up a coin and token as the same, but clarification has been made to differentiate them and give the use of each of them within this post. Token are Digital currency built on an existing blockchain and coin are the native digital currency of the blockchain. A coin might as well bigin as a token then later on go to create it's own blockchain for it's to stand as a coin.