With more adoption to cryptocurrency and a focus on decentralized finance comes the popularity of decentralized exchanges. However, the most interesting feature remains the elimination of third-party interferences and control over crypto activities.
Crypto users are completely in charge of their funds. From storage to buying, selling, and trading, they control their digital transactions.
This new wave in the DeFi ecosystem has brought the birth of several projects generally referred to as decentralized exchanges (DEXs). These platforms ensure the security of personal details. You don’t need to disclose personal information. Thus, users have the opportunity of opening accounts and trading from them without delays.
Furthermore, decentralized exchanges allow a global expansion of servers, drastically reducing the risks associated with downtime. As a result, the DEXs are less susceptible to hackings threats and attacks. Nevertheless, the order book liquidity is quite low even in comparison with centralized projects.
Then comes Raydium, one of the unique DEXs that creates a difference with its operability. It’s an Automated Market Maker (AMM) that is built on Solana Blockchain.
This article will give a complete review of the Raydium, its token, features, and benefits. You will realize that the Raydium is legit and not a scam.
What is Raydium?
Raydium is an AMM protocol built on the Solana Blockchain that offers on-chain liquidity to a central limit order book.
The protocol operates in tandem with Serum and leverages the DEX central order book. Thus, Raydium ensures shared liquidity, high-speed trades, and new means of yield earning.
Raydium’s native token, RAY, will form the foundation for more development through its operation on Solana Blockchain. This will bring more partnerships with other platforms while increasing performance for its own platform and the entire Solana ecosystem.
By leveraging on the Serum DEX, Raydium gives its liquidity providers (LPs) access to the on-chain liquidity and the complete order flow of Serum.
Raydium Historical Background
In February 2021, Raydium launched its main net with 555 million tokens.
Alpha Ray is the lead in the overall operations, strategy, business development, and product direction for Raydium. In addition, he has backing in algorithmic trading in commodities. In 2017, Alpha switched to liquidity providing and market making for digital assets.
Through his move into decentralized finance in 2020, Alpha discovered the crypto market need for an AMM order book to aggregate liquidity. This will be achieved from the release of Serum. So, this prompted him to gather a team of experienced developers to work with.
Raydium development team members include
- XRay – He is the Chief of Technology and Dev team leader. He has about eight years of experience in trading and systems architecture for crypto and traditional markets. In addition, X is the designer of all Raydium’s infrastructure and systems.
- GammaRay – He is the head of marketing and communications. He is involved in product and strategy direction. Before his involvement in Raydium, his crypto focus was on discretionary marketing and technical analysis. Gramma has built a career in a data analytics and market research firm. Additionally, he worked on corporate marketing and client engagements.
What Makes Raydium Unique?
Other AMM DExs and DeFi protocols can access liquidity only within their pools. Therefore, they can’t access a central order book. Furthermore, most of the exchanges operate on the Ethereum blockchain, thereby causing network congestion. Thus, transaction rates are slow, and the network takes high fees on gas.
Through its incorporation with Serum on the Solana blockchain, Raydium displays several features for its customers. Some of them include token trading, staking, swapping, and farming.
The protocol stands as the first AMM optimizing both Solana blockchain speed and a DEX limit order book. This accounts for its boundless liquidity supply, frictionless yield farming, and speed token swap.
Raydium displays the following key benefits that distinguish it from other AMM in DeFi.
- Cheaper and faster – Through its leverage on Serum in the Solana blockchain, Raydium performs transactions faster than Ethereum. Also, the gas fees are meager than those obtainable on the Ethereum network.
- Wide liquidity for the ecosystem through a central limit order book – Raydium gives limitless liquidity to Serum’s central limit order book. Thus, the entire Solana ecosystem can access uninterrupted liquidity and flow of order through Raaydium’s functionality.
- Amazing trading interface – Through its amazing interface, users can view their Trading charts. This will assist them in controlling their trades and setting limit orders.
Furthermore, Raydium has a pioneering advantage as an AMM running in Serum. This implies an integral part; it can attract new and existing protocols and projects into the ecosystem.
Also, it will be a link for projects that want to expand to the Solana blockchain and Serum DEX. This will invariably set Raydium and its native coin, the RAY token, at the forefront. They will be the foundation for facilitating development on its platform, with partners, and the entire ecosystem.
Additionally, Raydium anticipates a future of capturing and sustaining the leadership position among AMMs and liquidity providers on the Serum DEX. Through the power of Solana, the protocol plans to drive the advancement of DeFi. As a result, it’s set to remain the leading decentralized exchange (DEX) in the decentralized finance space.
Raydium Token – RAY
The Raydiun exchange native token is RAY. Raydiun exchange is a protocol that operates on the Solana Blockchain. So, you’ll need a compatible Solana Program library (SPL) wallet for storing your RAY tokens.
The Raaaydiun Exchange native token, RAY, is used for the following:
- Governance voting for protocol decisions making.
- Staking for the release of IDO allocations.
- Staking for protocol fee earnings
Raydium has a market cap of over $447 million. The protocol has a maximum supply of 555 million RAY tokens from its main net launch in February 2021. The circulating supply is at 58,723,906 RAY tokens. The price of RAY is $7.14 per token at the time of writing.
The protocol has drawn a plan for the distribution of its RAY tokens after its launch.
- 34% of the total token supply will be distributed as liquidity mining rewards across 3 years.
- 30% of the tokens are kept for collaborations and expansion of the Raydium ecosystem. Some of the beneficial developmental processes include project grants, projects for Raydium, and community assistance.
The exchange functions by locking these tokens for one year and unlocking them linearly for the next two years.
Where and How to Buy Raydium Tokens- RAY
Raydium native token. RAY is listed on several crypto exchanges. However, the buying of RAY is quite different from most digital assets when you desire to purchase directly from Raydium. This is because the exchange doesn’t accept any fiat currency.
You can buy RAY by purchasing cryptocurrencies such as Bitcoin, Ether, USDT, and others from prominent exchanges. Then you can exchange your other crypto asset for RAY. Some of the platforms to use for buying RAY include Binance, FXT, ZT, BKEX, Gate.io, and others.
Here are the steps for you to buy RAY from Binance
- Sign up for an online exchange account – To buy RAY from Binance exchange, you will visit their official website to sign up for an exchange account. The platform will request personal details such as your name, phone number, home, email addresses, etc. Also, you will create a user name and password for logging into the account. Ensure your use a strong password to give more security to your account.
- Upload your ID – The next step is to verify your account. Most reputable and regulated exchanges will demand that you upload any government-issued ID like a driver’s license or passport. Also, you will upload your recent utility bill or bank statement. These serve as a Know Your Customer (KYC) documentation. When the documents are completely uploaded, you can wait for the account verification.
- Deposit your funds – Once you receive a confirmation for your account verification, you can proceed to deposit your fiat currency. Binance supports payments through bank transfers, debit/credit cards, Paypal, Skrill, and others. Select any suitable option to deposit for funds.
- Buy Bitcoin/Ether – When your deposit reflects in your account, you can search for Bitcoin or Ether from the search box and select the crypto. Then click on the BUY button to buy the digital asset.
- Exchange for your RAY –
Raydium Features and Services
Raydium Trading Platform
The protocol has a trading platform that is specifically advantageous to professional crypto users. The features and tools on the platform give the user great trading experiences. Transactions such as buying, selling, trading, and others are executed at high-speed rates.
When it comes to centralized exchanges, there are charges known as takers and makers fees. The takers are customers that remove liquidity placed on orders. The makers are the customers that place the orders. The CEX generally uses the system of flat fees for both the taker and makers on their platforms. Thus, both the taker and maker of an order will receive their charges simultaneously.
Conversely, decentralized exchanges don’t usually include changes in their operations. This remains one huge advantage they use against their CEX counterparts.
However, Raydium goes with its exchange fees. The protocol takes a 0.25% liquidity fee on transactions for both takers and makers. The exchange pays the fees to the liquidity providers as incentives of the protocol. The protocol community governance may decide to alter the charge whenever it likes.
Raydium Withdrawal fees
Just like most decentralized exchanges, Raydium takes no charge for withdrawals and transfer done on the platform. Its only applicable fees are the network fees paid to the miners of the underlying digital asset or blockchain. This doesn’t come to the Raydium. Also, there’s a daily variation in the network fees based on the pressure on the network.
Raydium network fees are considerably low in comparison with what is obtainable in other DEXs and CEXs. It is favorably within the global industry average fees for crypto withdrawals.
Raydium Deposit Methods
When it comes to deposits, the platform doesn’t support payments with any fiat currency. Thus, interested investors without any crypto holdings can’t trade on the Raydium. For you to buy Raaydium tokens, you’ll follow the entry-level procedure.
This means that you’ll first go through an exchange that supports fiat currency deposits to another cryptocurrency. Then you can exchange the digital asset you bought for RAY tokens.
Decentralized exchanges have a global outspread of their servers. The story is not the same for centralized platforms where the servers are pitched on just some locations. Thus, it’s usually easy to hack a CEX server from its mounting location.
Conversely, the spread out of servers for DEXs reduces the risk of downtime and gives users unlimited hours of operations. Also, the spread-out fortifies DEXs from easy hackings and fraud.
This’s because taking down one server has minimal or no effect on the entire network of a DEX. But an infiltration into a serve of centralized exchanges causes more harm and a huge loss of funds.
What’s more, when you execute a transaction on a DEX, the platform has no access to your funds. So, if there’s a case of hacking, the fraudster won’t still access your funds. However, trading on a CEX keep your assets right on the exchange.
It will remain there until you withdraw the fund to your wallet. So, in a situation of possible hacking, your funds on a CEX will be stolen. Such situations are completely not obtainable in a decentralized exchange such as the Raydium.
Raydium Liquidity and Limits
Raydium offers its users access to unlimited liquidity and order flow on Serum DEX. Also, the liquidity providers are incentivized for farming and staking through the RAY tokens.
The protocol can maintain its rewards by channeling about 88% of the exchange fees to its liquidity pool. Subsequently, these are set aside as incentives for the liquidity providers. Furthermore, Raydium uses the remaining 12% to incentivize RAY tokens in the pool staking.
When it comes to Application Programming Interfaces (API) in the crypto industry, Raydium is among the top. The platform boasts of a great API that is consistently sought for crypto activities. Both new and old users always get the best experiences from using Raydium’s API.
With the protocol’s API, you can conveniently access real-time data that will help to improve your trading skills.
The API is fully equipped with the right tools. It comes fortified security or customer’s accounts, personal information, funds, and transaction details. The API inculcates everything a user needs for his crypto activities and transactions.
The protocol is fully loaded with tools and features to ease and simplify crypto trading even for beginners. Furthermore, Raydium empowers its users with multiple trading options. Most especially, users have no restriction to the liquidity and order flow on the Serum ecosystem.
By viewing the real-time data charts on the platform, professional traders can set their order limits. This gives them more control and influence on their digital trading and transactions. Also, a user can monitor his trading activities.
This will help him correct his previous errors and focus more on his strength to increase his profitability. In addition, through his transactions, he can reschedule his trading order. The long-term benefits are indescribable. It will enhance the traders’ experiences, whether as a professional or a newbie.
Furthermore, Raydium, Raydium gives maximum protection to its users from possible hacks on funds or personal information. The platform has a Swap user interface that enhances user’s trading patterns. Also, the protocol has several means through which users can customize their settings to their desirable interface.
Raydium Customer Support
The protocol boasts of experienced and trained customer support personnel that coordinate in handling users’ challenges. The support attends to customers’ problems promptly and satisfactorily.
Raydium customer support operates through the following ways:
- Email – To submit requests, complaints, or suggestions, users must use the exact email addresses in their account signing up process. Also, they should select the appropriate category and subcategory in their submissions. This will help for fast response to their mails.
- Twitter – For users with a Twitter account, there’s the opportunity of getting announcements and updates concerning the platform. These include promotions and products. Of course, you can still make your complaints through Twitter, but the most effective option remains email.
- Phone – Raydium makes no provision for support through live phone. This is part of its security measures in preventing possible hacking by third parties. However, when there is an unauthorized attempt on your account, you can immediately call the support team to deactivate your account.
Conclusion of Raydium Review
Raydium from its operability has distinguished itself among other AMMs in the Defi system. While other AMMs’ liquidity is limited to their pools, Raydium stretches to provide on-chain deep liquidity for its users. Furthermore, by leveraging Serum on the Solana blockchain, Raydium opens a central limit order book.
The protocol has all it takes to bring a desirable evolution of DeFi by pioneering limitless order flow in the industry.
With its outstanding features, the exchange offers its users excellent crypto trading experiences irrespective of their level of operations. In addition, there are customization settings that enable users to select their desirable levels and work according to their preferences.
Furthermore, Raydium poses as light-speed development, being the first AMM on the Solana blockchain. Its customer services through the support are impressive.
Most importantly, the platform is strongly fortified, which gives users the right security for their speculation in digital assets. You can make a trial on the protocol for the thrilling experience with Raydium.