Raydium DEX on Solana Now Tailored for Mobile Users

Raydium DEX
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Core features like swaps, pools, and farms are available in V2 beta

Leading Solana decentralized exchange Raydium has released its long-awaited V2 upgrade, introducing a smartphone-friendly mode tailored for mobile blockchain users. In addition, the renewed DEX gives users a refreshed interface, improved navigation options, while also improving its speed and user experience. The battle for attention heats up in DeFi. 

Raydium is one of the leading DeFi platforms on the Solana blockchain, an ecosystem that has seen tremendous growth in 2021. The DEX serves over 150,000 unique active wallets per month, only surpassed by NFT marketplace Magic Eden. Raydium’s dominance makes the V2 upgrade even tastier.

Notably, core features like swaps, pools, and farms are available in V2 beta, while the trading DEX and AcceleRaytor are still under development. V2 is still in Beta, so users are encouraged to help make Raydium even better by reporting any bugs or suggestions using the feedback link on-site or on Discord

Version 1 remains active and can be used without any issues. At the same time, the Raydium development team keeps improving, adjusting, and squashing bugs on V2. So far, feedback looks positive for Raydium’s upgrades. 

In the short term, Raydium has seen a slight uptick in user activity, and its native token RAY has also seen a small price shift, having increased 7% at writing. Visit the Raydium dapp page here on DappRadar, and discover the leading AMM on Solana.

What is Raydium? 

For those acquainted with Ethereum decentralized exchanges such as Uniswap and SushiSwap, Raydium would feel very familiar. Raydium is an Automated Market Maker (AMM) built for Serum, a decentralized exchange on Solana. The two protocols have a tight relationship, where Raydium will provide on-chain liquidity to the central limit order book of Serum, allowing the liquidity providers (LPs) to receive full access to the volume and liquidity of Serum. On the flip side, Raydium users can also access liquidity via the central order book, allowing for almost instant trades. 

Using Raydium, users can swap any Solana-based token into another, thanks to liquidity from two primary sources. Firstly, Raydium’s liquidity pools and additionally the Serum order book. Each exchange transaction will incur a 0.25% trading fee, of which 88% of that fee will be redeposited in the liquidity pool to reward liquidity providers. At the same time, the remainder is sent as yield to RAY stakers. 

While Raydium is first and foremost a DeFi platform, the team behind it decided to venture into other aspects of blockchain technology last year. Raydium DropZone, for example, is an initiative that aims to promote the growth of NFTs on Solana. The project also aims to support teams with the infrastructure needed to launch new collections.

Blurred lines

As the lines between DeFi, NFTs and games continue to blur; it’s imagined that more projects will follow in Raydium’s footsteps. DappRadar will continue monitoring the development of the Solana dapp ecosystem as more developers venture to explore its fast transaction speeds and minimal gas fees. To learn more about Solana, Raydium, and the DeFi space, check out the links below. 

The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, ENS, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.

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