Raydium is an automated market maker built on the Solana blockchain. The native cryptocurrency of the Raydium protocol is RAY. The Raydium mainnet was launched in February 2021.
Raydium is built on the Solana blockchain, leveraging the centralized order book of the Serum decentralized exchange (DEX) that provides new features to generate very fast trading, shared liquidity and returns.
Funds deposited in Raydium are converted into limit orders found in Serum’s order books. This gives Raydium LPs access to Serum’s entire order flow as well as their current liquidity.
The Raydium (RAY) project is used for many transactions. The use of RAY is needed for these transactions to be carried out very quickly and safely. Accordingly, RAY usage areas are as follows:
- Staking to earn protocol fees,
- get IDO allocations,
- It is used to gain voting rights in management protocol decisions.
Raydium (RAY) differs from similar projects with its different technical aspects. The features of the Raydium (RAY) project are as follows:
- Using the Solana blockchain, it is faster than Ethereum and the gas fees are considerably lower.
- The liquidity problem is eliminated for Raydium, which uses the limit orders of the serum decentralized exchange.
- For traders who want to be able to set limit orders and have more control over their trading, the user has a very comfortable use.
- Users do not need an order book for cheap gas fees and low exchange trading fees. They can easily exchange their tokens.
- Users can become liquidity providers thanks to the Raydium farming system. Thus, they can earn rewards in proportion to their contributions.
Raydium (RAY) has combined different advantages to find new supporters in the markets. Some of the advantages of this project are:
- It is faster and cheaper.
- It offers a central order book for liquidity within its ecosystem.
- The trading interface is convenient.
If we talk about the disadvantages, the RAY symbol carries various risks for the markets. In case of disruption of project objectives, it may fall behind its competitors.
Raydium (RAY) is available on many different cryptocurrency exchanges for trading and clearing. Some of these exchanges are: Binance, FTX, Gate.io and Kraken.
