Raydium
About Raydium
The price of Raydium (RAY) is $1.45 today, as of Sep 09 05:30 a.m., with a 24-hour trading volume of $22.48M. Over the last 24 hours, the price has increased by 0.40%. Raydium currently has a circulating supply of 263.75M and a market cap of $382.51M.
Raydium (RAY) is the native token of Raydium, a decentralized exchange native to the Solana blockchain that combines its liquidity with another Solana-based decentralized exchange (DEX), Serum.
RAY is both an ERC-20 token (meaning it is built on Ethereum) and a Solana Program Library (SPL) token. Its price is wildly volatile; it hit an all-time high of $16.93 in September 2021 but by June 2022, it had fallen to about $0.91.
All of its 555 million tokens were minted when the project launched on Feb. 21, 2021. Of this, 25.9% went to the team, their advisers and seed funders. They’ll receive their tokens from one to three years after launch.
The remainder of RAY will be distributed to those who provide liquidity to Raydium’s liquidity pools, and those who stake RAY in the protocol or its token farming programs. The largest portion, 34%, is reserved for liquidity miners, followed by 30% which is allocated for developing Raydium’s ecosystem through its incubators, Dropzone and AcceleRaytor. There is also 8% earmarked to provide liquidity to the platform; liquidity mining is expected to continue until February 2024 and rewards are halved twice a year.