Expanding Access to Decentralized Finance (DeFi)
Bitso continues to enhance its trading portfolio by introducing Raydium (RAY), a key player in Solana’s DeFi ecosystem. Unlike traditional decentralized exchanges (DEXs), Raydium integrates with Solana’s on-chain order book, enabling deeper liquidity, efficient price discovery, and seamless trading experiences for users.
What is Raydium?ydium?
Raydium is a decentralized automated market maker (AMM) built on Solana, allowing users to swap tokens, provide liquidity, and engage with DeFi applications efficiently and at low cost. What sets Raydium apart is its integration with OpenBook, a decentralized and open-sourced, community-led order book that ensures deep liquidity and optimal price execution beyond standard AMM pools.
Raydium offers several key features:
- Token Swaps: Fast and cost-efficient trading with minimal slippage.
- Liquidity Provision: Users can earn rewards by providing liquidity to pools.
- Staking: Holders can stake RAY tokens to earn additional rewards.
- Launchpad (AcceleRaytor): A platform for launching new Solana-based projects.
How It Works
Raydium operates using smart contracts on Solana to facilitate trading, liquidity management, and governance.
Liquidity Pools and Order Book Integration
Unlike traditional AMMs that rely solely on liquidity pools, Raydium also routes liquidity through OpenBook’s order book, ensuring users get the best possible prices and tighter spreads when trading on the platform.
Staking and Rewards
Users can stake RAY tokens to earn passive income while contributing to the network’s security and stability. Additionally, liquidity providers receive trading fees and potential yield farming rewards.
AcceleRaytor: Supporting New Projects
Raydium’s AcceleRaytor platform allows new projects on Solana to launch and secure early liquidity. This contributes to the overall expansion of Solana’s DeFi ecosystem.
Why RAY Stands Out
1. Deep Liquidity on Solana
Raydium is the largest AMM on Solana, powering liquidity for multiple DEXs and aggregators like Jupiter. While many users interact with Jupiter for trading, a significant portion of its liquidity originates from Raydium.
2. Community-Driven Governance
RAY holders can participate in governance, voting on protocol upgrades and ecosystem changes that shape the future of Raydium.
3. Access to Exclusive Services
Some Raydium features, such as governance participation and potential fee discounts, are accessible only to RAY holders, making it a valuable asset for active users within the ecosystem.
How to Get Started with RAY on Bitso
- Register on Bitso: Sign up through our app.
- Buy RAY: Exchange USDC for RAY using Bitso’s conversions platform.
- Keep an eye on the market: Use the tools in the Bitso app to track price movements and Raydium’s growth.
At this time, RAY will only be available for conversions on Bitso, meaning users can buy and sell the token but will not be able to deposit or withdraw it externally. However, you will be able to send it to other Bitso users and receive it through Bitso Transfer. This allows traders to gain exposure to the asset within a controlled exchange environment.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. RAY is a DeFi token, and its value may fluctuate based on market conditions and adoption. Bitso encourages users to conduct their own research (DYOR) and carefully assess risks before making any investment decisions.
