What is Raydium? In this article on shetcoiner site, we want to examine this currency; So if you want to know the latest and most important information about this currency, stay with us until the end of this article.
What is Raydium?
Raydium is a decentralized AMM created on the Chinese Blockchain platform, Solana. It is the native functional symbol of the Raydium ecosystem. Its initial public offering, launched on February 21, 2021, that was limited to 555 million tokens. It devoted 20 percent of its total supply to the development team, which was locked up for three years so that developers could not sell it. This currency is generated directly from Serum orders and is extracted from the largest DEX Solana.
Decentralized Exchange, or DEX, is a digital currency exchange platform based on Blockchain technology that requires a decentralized system to operate the swap. The main advantages of AMM built on Solana are speed and cost-effectiveness. In addition, Raydium interacts directly with the Solana ecosystem and with Serum for more liquidity. Here we want to examine the application of Raydium in a simpler way.
One of the most important uses of this currency is that its Blockchain is more practical than other currencies. This currency can reduce transaction costs and increase its speed; for example, if the currency is on the Ethereum network, your fee will be high, but this is not the case in this network. You can also make your transactions faster.
Kucoin vs. Binance (Fees, Futures & …)
When you can trade or exchange on Raydium, the transaction receives a 0.25% fee. 0.22% is re-deposited in the liquidity pool and acts as a reward for liquidity suppliers. 0.03% is also sent to the staking pool and is saved as a reward for those who keep their RAY tokens. Block bonuses are expected to be halved every six months. The currency can also set limited orders for traders who want to see TradingView charts and have more control over their trades.
How to keep this currency?
Before you start working on Raydium, you need a wallet to store this crypto currency in the Solana Blockchain and to interact with Raydium features. The best wallet that can help you in this situation is the Solana Program Library (SPL). Also, if you want to add other wallets, Solong and Bonfida are two other options in trustful wallets. Moving and converting this currency to another currency is done only with higher speed and lower cost and there is no difference.
First you can check through one of the financial platforms whether this currency is there? Then connect your wallet to it and enter the currency you want to convert. In the next step, you can see the transfer of your currencies in the shortest possible time after confirmation.
How to invest in Chainlink? (A different future)
In this article on the shetcoiner site, we described the Raydium currency and what it does. This currency can be useful for you if you are planning a long-term investment; because people need to get acquainted with this currency and there is no possibility of satisfactory profitability in the short term.
If you want to know more about crypto currencies read the following articles on shetcoiner site:
Buy on Bitfinex with credit card
How to buy Emax on TrustWallet?
Is raydium a Solana token?
Raydium is a Solana-based decentralized exchange, automated market maker, money market, and token launchpad platform