Raydium is an automatic market maker (AMM) integrated with the Serum DEX, operating on the Solana Blockchain. Users earn RAY coins by providing assets to liquidity pools and can earn additional rewards by staking these tokens. Raydium also supports capital raising for new projects in the Solana ecosystem through the AcceleRaytor platform. In this article, you can find answers to two frequently asked questions: What is Raydium (RAY) and how to buy Raydium (RAY) with TRY.
Raydium, a decentralized finance (DeFi) protocol that functions as an automatic market maker (AMM) built on the Solana Blockchain. By integrating liquidity pools with the decentralized exchange (DEX) Serum, it enhances the trading of digital assets. This integration allows Raydium to conduct fast, liquid, and low-cost trading by combining the flexibility of AMMs with the reliability of traditional order book mechanisms.
As an AMM, Raydium facilitates the permissionless trading of digital assets through liquidity pools. These pools are funded by liquidity providers who lock their assets in smart contracts and then serve as counterparties for trading pairs on the DEX. In return for providing liquidity, users receive rewards in RAY, Raydium’s utility token, which can be staked to earn additional rewards.
Traditional exchanges use a central order book to match buy and sell orders. The DEX supported by Raydium, Serum, uses smart contracts to manage this process. On one side of the order book, there are buy orders showing the quantity and price of assets market participants want to purchase. On the other side, there are sell orders detailing the quantity and price of assets for sale.
Raydium uses liquidity pools instead of an order book to facilitate transactions. These pools supplied by liquidity providers act as counterparties for buy and sell orders, enabling decentralized trading. This method has become popular on platforms like Uniswap on Ethereum. Raydium chose Solana for its lower fees, faster transaction times, and advanced liquidity management compared to Ethereum-based AMMs.
The integration of Raydium with Serum’s order book enables a hybrid trading model that benefits from both liquidity pools and order books. When users contribute to Raydium’s liquidity pools, tokens are converted into limit orders on Serum’s order book for trading. Raydium compares prices between AMMs and Serum’s order book to provide cost-effective transactions.
In addition to basic trading functions, Raydium offers extra features like dual rewards farming, allowing liquidity providers to earn additional returns from LP tokens. Users can also stake RAY coins to earn rewards from transaction fees. Raydium introduced AcceleRaytor, a launchpad to help new projects raise capital and grow within the Solana ecosystem.
To buy Raydium (RAY) with TRY, Binance TR is the most suitable cryptocurrency exchange for investors in Turkey. Binance TR allows the quick creation of an account and offers trading options for over 100 cryptocurrencies, including RAY. Follow the steps below to purchase Raydium (RAY) with TRY on Binance TR.
Opening an account on Binance TR is straightforward. Visit trbinance.com and proceed with the “Create Account” step. You will be asked to enter basic information such as email address, phone number, name, date of birth, nationality, and Turkish identification number in the first step of account creation.
After entering the required information accurately, you will be prompted to verify the information through email/SMS verification. Once this process is completed, you will proceed to the second step, which is identity verification (KYC).
Identity verification on Binance TR is a security procedure that needs to be completed before starting cryptocurrency trading and account creation. You can choose to verify your identity either through your phone or via the official Binance TR website. Please note that you will need your mobile phone to verify your identity on the website.
To deposit TL into your Binance TR account, you can easily do so through all banks. You can deposit TL 24/7 from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, and Şekerbank accounts and carry out uninterrupted transactions. For other banks, you can use FAST to make deposits up to TL 50,000 24/7. Deposits over TL 50,000 from other banks are processed during EFT hours.
After depositing funds, you can proceed to buy RAY coins with TL on Binance TR by clicking on the “Buy-Sell” option in the top left menu on the website.
Binance TR is the Turkish cryptocurrency exchange launched in 2020 by Binance, the world’s largest cryptocurrency exchange by trading volume. Based in Istanbul, the platform provides services tailored to Turkish cryptocurrency investors through trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can deposit and withdraw Turkish Lira (TRY) directly through bank channels on Binance TR and trade various cryptocurrencies with TRY trading pairs.
Through Binance TR, users have access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, storage solutions, and risk controls, supported by Binance’s core functionalities.
Disclaimer: The information provided in this article is not financial advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
