Raydium (RAY)

Last updated 11/10/2022

What is Raydium (RAY)?

Built on the Solana blockchain, Raydium is an automated market maker (AMM) that provides liquidity with 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 (DeFi). 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 can use these locked assets as the trading pair 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.

Users are rewarded with RAY, the ecosystem's utility token, when they supply liquidity to Raydium. RAY can then be staked in the platform to earn more cryptocurrencies.

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.

Roadmap

Where to store Raydium (RAY)

To store your funds on Solana blockhain and interact with the features of Raydium you need a Solana Program Library (SPL) wallet. A great option for that would be Phantom wallet as it allows users to store keys for Solana, SPL Tokens and NFTs on three different web browsers. Phantom also enables users the ability to browse the Solana blockchain from a browser. Designed as a web browser plugin, users are able to send cryptocurrency and interact with various decentralized apps. It can be installed as a browser extension for various leading browsers such as Google chrome and brave

You can also store Raydium (RAY) in Exodus along with many other cryptocurrencies. Exodus is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus is tied to the device it is downloaded on which will also be the device you will use to access and manage your crypto assets.

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 Binance, it also a very trusted wallet in the crypto community.

Alternatively, 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://explorer.solana.com/

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.