What is Raydium and what role will it play in the Evolution of DeFi?
Built on the Solana blockchain, Raydium is an automated market maker (AMM) that provides liquidity on the Serum decentralized exchange.
Through the use of liquidity pools, which have become one of the key components of decentralized finance, Raydium, as an AMM, facilitates the trading of digital assets like cryptocurrencies without the need for a third party to grant authorization. Individuals who act as liquidity providers and secure their assets in a smart contract for a liquidity pool are the foundation of liquidity pools. Then, traders on the decentralized exchange (DEX) can use these locked assets as trading pairs within a certain market.
Raydium provides a new source of liquidity for the quick, liquid, and low-fee trading of digital assets on Solana by combining the flexibility of an AMM with the dependability of Serum’s more traditional order book method.
Native Token RAY and Staking
Users are rewarded with RAY, the ecosystem’s utility token when they supply liquidity to Raydium. RAY can then be staked on the platform to earn more cryptocurrencies.
Raydium History and Its Team
A group of anonymous entrepreneurs who used aliases with “ray” suffixes built the Raydium ecosystem, which was released in February 2021.
They include:
- AlphaRay: manages the overall business development, operations, and product direction for Raydium.
- XRay: the chief of technology and Dev Team manager.
- GammaRay: the chief of marketing handles marketing and communications for Raydium.
- StingRay: an experienced senior developer who manages the on-chain order book for the project.
- RayZor: a professional, smart contract developer who ensures the safety of capital in Raydium.
The staff at Raydium includes experts in marketing, algorithmic trading, blockchain development, mathematics, and other fields.
Where to store Raydium (RAY)
A Trust wallet is a wallet that can hold a wide variety of cryptocurrencies such as Raydium (RAY), making it highly desirable for users who wish to have a varied portfolio. Being owned by Binance, it is also a very trusted wallet in the crypto community.
Alternative options to keep your Raydium (RAY) secure can also include MetaMask, a leading browser wallet extension popular amongst DeFi platforms.
It is always recommended that you ensure using a secure wallet, create back-ups and store any sensitive recovery information in addition to completing your own research and due diligence into any service you are looking to use.
Where to Buy and Sell Raydium (RAY)
You can Buy & Sell Raydium (RAY) here at BC Bitcoin.
You can Buy Raydium by heading over to the Buy Coins page of our website. Raydium is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Raydium has never been easier. Simply place your order and provide your wallet address. Once your payment arrives, Raydium will be sent directly to your wallet.
If you choose to Sell Raydium (RAY), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page
Raydium (RAY) Resources
Website: https://raydium.io/
Block Explorer: https://etherscan.io/
GitHub: https://github.com/raydium-io
Twitter: https://twitter.com/RaydiumProtocol
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.
