The Raydium Protocol offers a decentralized exchange for the Solana ecosystem. If someone wants to swap Solana or a tokens based on Solana, this can be done on Raydium. The exchange is powered by the RAY token. The token is used to reward validators of the network. Additionally, the token gives the owner voting power and allows to participate in decisions regarding the development of Raydium.
Similar to Uniswap in the Ethereum network, Raydium is the decentralized exchange of the Solana ecosystem. Raydium, like other decentralized exchanges (DEX), allows trades without an order book. This means that the sold tokens do not require a buyer, differently to traditional exchanges. Unlike traditional DEXs, users of the Raydium platform can also sell their tokens directly to a buyer. Hence, trades via the order book are also possible. If the Solana ecosystem continues to grow as it did in 2021, exchanges for Solana tokens will also become more relevant and so will Raydium.
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Raydium is apowered by,uses to validate transactions,and is.Raydium also supports.
Interesting facts about Raydium
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Raydium tokens are used to reward the validators of the network and as a governance token.
Raydium enables trading via liquidity pool and via order book.
Raydium is a decentralized exchange for trading cryptocurrencies in the Solana ecosystem.
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Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
# Discord members 42,192 7% of them are active
# Telegram members 44,440 2% of them are active
% of total supply circulating Very small
What’s the community like?
Community matters for projects like Raydium, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.