Raydium is a Solana-based Automated Market Maker (AMM) platform designed to facilitate a myriad of DEX functions in a single interface.
Simply put, Raydium completes simplifies the ways users carry out important DEX functions like swapping, trading, yield farming, staking, etc. In this article, you will discover important details about Raydium as well as three of its top farming options.
Interesting Facts About Raydium (RAY)
Since it is built on the Solana Chain, the AMM protocol offers super cost-effective and faster transactions.
Moreover, another interesting fact about the AMM protocol is its strategic integration with Serum DEX. Therefore, providing Raydium users with access to liquidity on the Serum DEX as well as Raydium’s liquidity pools.
On the other hand, most AMM only have access to their liquidity pools. The AMM protocol is popular for:
- Fast and cheaper transactions.
- Top-notch trading interface.
- Central order book provides a wide range of liquidity.
Also, on the AMM protocol, users can:
- Trade and swap crypto tokens.
- Earn RAY from staking and farming activities. RAY is the native token of the Raydium.
1) Gm Raydiatooors☀️
We know the refreshed UI has been a RAY-ly long time coming…
And while there's still work to be done, Raydium is leveling up! 🍄
New look – more responsive – mobile friendly 😎
V2 beta is live:https://t.co/a7yJlglk3C
Details below 👇 pic.twitter.com/8xztdIJDnJ
— Raydium (@RaydiumProtocol) March 8, 2022
Three Good Farming Options on Raydium (RAY)
Farming on Raydium is one of the best ways to earn RAY as a reward. Find out more on how to carry out farming and staking on Raydium here.
- ETH-stSOL farming option: This farming option currently has a TVL of about $5,658,548 with 786 LPs. 36.49% APR.
To access the coin for the ETH-stSOL pair, you need to first connect your wallet. Several wallets are compatible with Raydium AMM. Some of them include; Solflare, Sollet, Torus, Phantom, Sollet (Extension), SafePal, Coin98, etc.
The next step to take is to add liquidity to the pool. At the time of writing, one stSOL is currently estimated as 0.03 ETH.
Source – Raydium AMM Protocol
The ETH-stSOL Pool details include:
- Pool Base – ETH
- ETH Pool Liquidity – 819.17 ETH
- stSOL pool Liquidity – 24,167.30 stSOL
2. BTC-stSOL farming option with a TVL of about $5,356,589 and only 54 LPs. Interestingly, this farming option has a total APR of 38.71%
3. RAY-USDC farming options with an estimated TVL of $53,753,991 and an APR of 47.35%.
There are several other interesting farming options on the AMM protocol. Including stable farming options like the stSOL-SOL, USDT-USDC farming options. Farming options like MEAN-RAY, CRWNY-RAY, and RATIO-USDC are very good too.
RAY Price Outlook
At the time of writing this article, the price of RAY at $3.38 with a market cap of $318 million and a 24-hour trading volume of $42,6 million.
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