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Project Serum describes itself as a functional decentralized exchange with trustless cross-chain trading, at the speed and price that customers want. Despite living natively on Solana, it will be interoperable with Ethereum.
Nectar was originally launched in 2017 by the Bitfinex spin-off exchange, Ethfinex — a team based out of London, UK — with the purpose of rewarding market makers for the value they create whilst simultaneously serving as the primary voting mechanism, allowing traders to govern the exchange and decide, among other things, which tokens they wish to see listed next. The project was designed to experiment with and develop novel governance processes with the aim of solving pain points seen with centralized exchanges including opaque and costly token listing procedures.