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Raydium Coin (RAY) offers various advantages to users and is the native cryptocurrency of the protocol.
What is Raydium (RAY)?
Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain. Unlike other AMMs, Raydium provides on-chain liquidity to a central limit order book. Funds deposited into Raydium are converted into limit orders on Serum’s order books.
Raydium allows LPs to access not only their existing liquidity but also all of Serum’s order flow. RAY Coin is the native cryptocurrency of the protocol, providing the following:
- Staking to earn protocol fees
- Staking to receive IDO allocations
- Voting on governance protocol decisions
AlphaRay leads overall strategy, operations, product management, and business development on behalf of Raydium. With experience in algorithmic trading of commodities, Alpha focused on market making and liquidity provision for cryptocurrency in 2017. After entering the DeFi sector in 2020, Alpha saw the market’s need for an AMM order book to aggregate liquidity and created this project with the launch of Serum.
Where to Buy RAY Coin?
RAY Coin can be securely bought and sold on Binance, the largest cryptocurrency exchange in the world by trading volume. Raydium Coin is traded on the Binance platform in RAY/BNB, RAY/USDT, and RAY/BUSD pairs.
To purchase RAY Coin, you first need to register on the Binance exchange. After completing registration, you should transfer cryptocurrency or fiat currency to your Binance account wallet. Once the transfer is complete, you can buy RAY Coin from any of the three pairs mentioned above. For buying through the RAY/USDT trading pair, first navigate to this pair’s interface. Enter the desired amount in the limit tab on the RAY/USDT interface. After specifying the amount, execute the purchase by placing a Buy RAY order.
