Raydium protocol
Overview
Raydium is an automated market maker (AMM) and decentralized exchange (DEX) built on the Solana blockchain. It provides liquidity pools and historically integrated with the Serum central limit order book; after Serum was deprecated following the November 2022 FTX collapse, Raydium migrated to the community-run OpenBook order book. The protocol enables users to swap tokens, provide liquidity, and earn yield. Raydium also suffered a December 2022 exploit of its pool-owner account (roughly $2M+ drained).
Within the DeFi Intel graph, Raydium connects to 21 tracked entities, most strongly to Solana, Jupiter, Pump.fun.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 21 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Solana | 95% |
aggregated_by | Jupiter | 95% |
aggregated_by | Jupiter Exchange | 95% |
provided_graduation_for | Pump.fun | 95% |
competes_with | PumpSwap | 95% |
issues | RAY | 95% |
governed_by | RAY | 95% |
driven_by | Solana DeFi TVL Surpasses $10B | 95% |
Frequently asked questions
What is Raydium?
Raydium is a Solana-based DEX and AMM that combines automated liquidity pools with an on-chain central limit order book. It originally integrated Serum; after Serum was deprecated in late 2022, Raydium moved to the community-run OpenBook fork.
How does Raydium differ from Uniswap?
Unlike Uniswap which solely uses AMM pools, Raydium pairs its AMM pools with an on-chain central limit order book (OpenBook, formerly Serum), allowing pool liquidity to be shared with order-book traders.
What is Raydium's relationship with Serum?
Raydium was originally built around Serum's on-chain order book. Serum was abandoned after the November 2022 FTX collapse (its upgrade key was controlled by FTX), and the Solana community forked it into OpenBook. Raydium migrated to OpenBook, which now provides its order-book infrastructure.
What is Raydium connected to?
In the DeFi Intel knowledge graph, Raydium is linked to 21 other tracked entities, most strongly to Solana, Jupiter, Pump.fun.
Sources
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