Raydium to Be Listed on KuCoin on January 4th
KuCoin will list Raydium under the RAY/USDT trading pair on January 4th at 10:00 UTC.
Refer to the official tweet by RAY:
KuCoin@kucoincomGen 04, 2024📢 New Listing@RaydiumProtocol $RAY Gets Listed on #KuCoin!
đź’ŽPair: RAY/USDT
đź’ŽDeposit: now open (network: SOL)
đź’ŽTrading: 10:00 on January 4, 2024 (UTC)
RAY Info
Raydium is an automated market maker (AMM) and liquidity provider on the Solana blockchain, designed specifically for the Serum decentralized exchange (DEX). It distinguishes itself from other AMMs by offering on-chain liquidity directly to Serum’s central limit order book.
The mechanism of operation for Raydium involves converting deposited funds into limit orders on Serum’s order books. This integration allows Raydium’s liquidity providers (LPs) to access the full range of Serum’s order flow and liquidity, optimizing the trading experience and potential returns for participants.
The native utility token of Raydium is RAY. It is utilized within the ecosystem for several key functions: staking to earn protocol fees, receiving allocations for Initial DEX Offerings (IDOs), and participating in governance votes to influence protocol decisions. This token serves as an incentive and governance mechanism, aligning the interests of users with the health and growth of the platform.