Raydium

Raydium is a decentralized finance (DeFi) platform built on the Solana blockchain, designed to serve as an automated market maker (AMM) and liquidity provider. Unlike traditional AMMs, Raydium integrates its on-chain liquidity with the central limit order book of the Serum decentralized exchange (DEX), allowing liquidity providers to participate in Serum's broader order flow and liquidity. Raydium leverages its native token, RAY, to power several core functions within its ecosystem. These include staking to earn protocol fees, securing allocations for initial DEX offerings (IDOs), and participating in governance decisions that shape the protocol's future direction. Raydium was launched in February 2021 with an initial supply of 555,000,000 RAY tokens, of which 34% are allocated for liquidity mining incentives over a three-year period, and 30% are reserved for partnerships and ecosystem expansion, with a one-year lock-up period followed by a linear unlock over the subsequent two years.