Raydium was developed for the Serum decentralized exchange (DEX) to function as an automated market maker (AMM) and liquidity provider. Unlike other AMMs, Raydium delivers on-chain liquidity to Serum’s central limit orderbook. The significance of this is that Raydium liquidity providers (LPs) have access to the whole order flow and liquidity of the exchange.
The Raydium protocol, which was built on the Solana blockchain, will act as an entry point for projects that are seeking to expand to Solana and Serum. The developers hope that this will mean that Raydium and the RAY token will become an essential part of further development within the larger Raydium, Serum, and Solana ecosystem.
The RAY token is a native utility token that is used for staking to earn rewards and for governance on protocol upgrades and decisions.
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