Top 7 DEX on Solana With Massive Potential on 2022
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Loading... - blake emma
- 17 Aug 2022
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Solana is a fast, secure, and censorship-resistant blockchain providing the open infrastructure required for global adoption. It is by far one of the fastest blockchains out there, with 400ms block time and currently 60,000+ TPS.
For this article, we’ve taken a look around the Solana ecosystem and have selected the top 7 projects that we find most interesting right now. So, let’s dive right into it.
Raydium
Raydium is a DeFi (Decentralized Finance) application and works as an on-chain order book AMM (automated market maker) to power the evolution of DeFi. Unlike many other AMM platforms, Raydium provides on-chain liquidity to a central limit order book. That means that the users and liquidity pools of Raydium can access the order flow and liquidity of the entire Serum ecosystem and the other way around.
On Raydium, it is also possible for liquidity providers to generate rewards from trading fees for contributing. Key pools are incentivized with $RAY assets as farming rewards. Projects that like to reward users for providing liquidity can also add extra reward tokens.
Interestingly, as the platform progresses, it aims to partner with other DeFi and AMM communities and provide support to build out their products on Solana. That will make sure that more liquidity is added, and more and more DeFi protocols will be brought to the Solana ecosystem. Through these additions, Raydium can incorporate additional flexibility and function for future versions and new features.
Its main features are as follows:
§ Orderbook: Through the power of Serum, Raydium brings Orderbooks to AMMs. Leveraging liquidity provided by Serum, Raydium provides users options to place Limit Order, Market Order, etc.
§ Raydium DEX: Similar to other AMMs, Raydium allows market participants to make transactions using liquidity provided by its own pools. It aims to serve trading activities between less traded assets. This feature allows users to swap their tokens without the need of orderbooks while enjoying cheap gas and low trading fees.
§ Pool: Similar to other AMMs, Liquidity providers will be able to earn rewards for contributing liquidity. Key pools will be incentivized with RAY tokens. Recently, Raydium has introduced permissionless pools, enabling anyone to have the ability to create tradable AMM pools. With that being said, the permissionless pool launch will create extremely solid liquidity for Raydium’s community.
§ Farm: Raydium farms are liquidity pools that allow liquidity providers to generate RAY tokens as farming rewards in addition to the trading fees contributed to the pool.
§ Staking: If you’re holding RAY tokens, staking is an easy way to earn additional RAY.
§ AcceleRaytor: AcceleRaytor serves as a launchpad for the latest Solana projects to raise capital and drive initial liquidity.
§ Dropzone: an initiative by Raydium to promote the growth of NFTs on Solana while supporting project teams with the infrastructure needed to launch new collections.
