Raydium was launched in February 2021 and was created by blockchain experts and a team of seasoned software engineers. Raydium (RAY) is a Solana-based AMM (Auto-Market Maker) liquidity provider for the Serum decentralized exchange. Raydium was created to encourage users to trade on Solana quickly and easily by providing the following features:
- Swap: Works similarly to Sushiswap and Uniswap, allowing users to trade at market rates quickly and easily. – Trade: Create market orders, limit orders, and so on through order books, allowing users to trade with predetermined quantities and prices.
- Pools: Provides liquidity to users, allowing them to receive rewards.
- Farm: Provides users with the opportunity to profit by providing liquidity for DeFi protocols.
Raydium token (RAY) is a utility token that is used in the Raydium ecosystem for the following purposes:
- Used to allow users to participate in network governance by voting – Used as a reward for Farmer
- Users can stake Ray to receive a portion of the transaction fees associated with Raydium Swap and Raydium Trade.