Raydium is an automated market maker (AMM) based on the Solana blockchain with features such as yield farming, staking, token swapping and trading. RAY is the native token of the Raydium protocol and one of the Solana-based coins. Detailed information on what is Raydium coin RAY and how does it work, how much it costs, how to buy, etc. is in the continuation of the content. For information about DENT coin, you can check here.
What is Raydium coin (RAY) and how does it work?
Raydium is an automated market maker (AMM) and liquidity provider for the Serum decentralized exchange (DEX) built on the Solana blockchain. Unlike other AMMs, Raydium provides on-chain liquidity to a central limit order book, meaning funds deposited in Raydium are converted into limit orders placed on Serum’s order books. This gives Serum access to the entire order flow as well as the current liquidity of the Radium LPs.
The native utility token of the platform is RAY coin. This token can be used for the following purposes:
- Staking to earn protocol fees
- Staking to get IDO allocations
- Voting of management protocol decisions
RAY is the native token of the Raydium protocol and one of the Solana-based coins. RAY has a maximum supply of 555,000,000 tokens. This makes it a bit more attractive compared to the supply of similar tokens on other chains.
How to buy Raydium coins? How much is the RAY price?
Raydium can be purchased on “trusted” cryptocurrency exchanges such as Binance. Before buying RAY, it will be in the best interest of the investor to do a thorough research on the stock market and to trade from reliable / well-known stock exchanges.
As of August 17, 2018, the price of 1 RAY is around $7.65. While the supply of Radium in circulation in the market is 57,789,434 units, its total supply is 555,000,000 units.
Note: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency