We are thrilled to share that Raydium (RAY) is now listed on Coinhako!
What are Raydium and RAY?
Raydium is an automated market maker (AMM) on the Solana blockchain that shares liquidity with the Serum decentralized exchange (DEX). Liquidity providers lock their assets in liquidity pools, which enables permissionless trading of digital assets. The collaboration with Serum DEX enhances liquidity provision via yield farming and allows staking of RAY tokens for rewards and participation in token sales.
RAY, the native asset of Raydium, facilitates in-protocol ecosystem services. Users earn RAY by contributing to liquidity pools and staking assets for IDO tokens on the AcceleRaytor launchpad. Stakers and network participants use RAY for governance participation in platform management.
Raydium maintains a maximum supply of 555,000,000 RAY and RAY has traded for $1.79 at its peak.
How does Raydium work?
Raydium makes use of three main products and services that make up the wider Raydium crypto ecosystem:
Liquidity Pools (LP)
Blockchain and DeFi have introduced a new trading method via AMMs like Raydium, where users trade against liquidity pools. Initially popularized by Uniswap on Ethereum, Raydium opted for Solana due to lower fees and faster transactions. In addition to basic exchange functions, Raydium offers dual reward farming for LP token holders and staking RAY tokens for fee rewards.
Raydium and Serum Integration
Raydium integrated its AMM mechanism with Serum's order book to combine the benefits of both types of exchanges. Traders can access liquidity from Raydium's AMM or Serum's order book for a better decentralized exchange experience. Raydium converts users' tokens into limit orders on Serum when contributing to its pools, allowing for efficient swaps by comparing prices between the two platforms.
AcceleRaytor
Besides its exchange and yield-earning platforms, Raydium has also developed a fundraising platform called AcceleRaytor. This platform acts as a launchpad to assist new projects in raising capital and building within the Solana ecosystem.
Why does Raydium stand out?
Some users may prefer Raydium's advantages over other Solana DEX platforms like Serum and Bonfida. Raydium enables fast, cost-effective token swaps, trading, liquidity provision, and project bootstrapping. It shares liquidity with Serum through access to its central limit order book.
However, some believe that Solana's broader AMM and DEX ecosystem is somewhat isolated from Ethereum's DeFi core at present. Ongoing development of projects like Raydium could reduce this isolation as the Solana blockchain ecosystem matures.
What can you do with RAY on Coinhako?
RAY will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
- Purchase RAY instantly with Visa / Mastercard
Please note that the sending and receiving of RAY will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.