LBank AMA Recap with Raydium Protocol
Date: 29/04/2021
Time: 15:00 UTC+8
Venue: LBank Telegram Chat Room https://t.me/LBank_en
Guest: AlphaRay (Head of Raydium)
Host: Naimul| LBank
Part 1. Introduction
Ok! Lets Begin ! Would you like to tell us something about yourself and Raydium Protocol before we start?
Hey yea, so we’ve been in crypto and trading for several years now and more recently dove into Defi last summer. We realized the enormous opportunity in the space but also saw there were issues like high gas fees and slow transactions.
When Serum was launched we saw the opportunity to create an on-chain AMM that interacts with a central limit order book at high speed and low cost, and Raydium was born!
Raydium now aims to provide liqudity to the solana ecosystem as well as features for our users to earn yield and join new project launches on our AcceleRaytor platform.
Great to be here, looking forward to this AMA!
Part 2. Questions from Twitter
Q1: What is the next IDO on Raydium platform? Is always compulsory to stake RAY for 7 days to join every IDO?
MEDIA will be the next project to IDO on Raydium. They’re a decentralized Content Distribution Network with high bandwidth capabilities meant for streaming and content delivery. Kind of like a decentralized and ad free Youtube. Users can upload content onto the network and everyone across the world can access it.
Q2: Can you list some great features of Raydium that makes it ahead of its competitor?
First is how Raydium interacts with the Serum central limit orderbook. The orderbook gives users a lot more flexibility when sending trades, such as limit orders.
It also gives Raydium LPs the ability to provide liquidity for the entire Serum Ecosystem and anyone else using Serum can all trade against the LPs to generate more fees.
Secondly, we’ve built Raydium on Solana. The speed is nearly instant and gas fees are less than a cent for a transaction. This allows even the smallest users to participate and enjoy the benefits of DeFi!
Thirdly, Raydium partners with projects on Fusion pools. Users can buy their favourite tokens, add them to liquidity pools to support them and then stake the LP tokens in Fusion pools to earn even yield in the project tokens. The rewards are often quite high with STEP still at over 2500% APR!
Q3: What is the current planning for the project and What are some of the major achievements that the Raydium Protocol project has achieved.
Our primary objective is to make Raydium the main trading hub in DeFi and drive liquidity for the entire Solana ecosystem, including projects and traders.
One of the key ways we’re doing this is with our AcceleRaytor platform, where new projects can launch, fundraise, and users can come support early projects.
Our Fusion pools also give projects the ability to bootstrap liquidity really quickly which helps secondary market users who just want to trade with low slippage.
Raydium has done a lot since it released just 68 days ago.
We have over 60k unique wallets staking and providing liquidity on our platform
We just reached over 800m TVL and did over 150m in trading volume on most days this week putting us among the top DEXs by trading volume on coingecko. We were in the top 10 largest this week as well!
We have grown to over 40k unique daily users with over 500k pageviews per day.
Our website ranking is above Bancor, Curve and Balancers now in terms of user traffic.
It’s all happened quickly and we cant wait for more!
Q4: DEFI is growing too fast & the likelihood of it being interrupted is very high. What do you think about this & can you be sure that $Raydium will be in demand in the long term? Are there any plans to contribute DeFi’s development?
DeFi’s growth can be interrupted but we are confident that it will just keep going and innovating! Our plan is to first gain traction among other large DeFi projects and then grow the use cases and features of DeFi so that everyone can benefit. In the near future, we plan to create different AMM curves and get into leveraged trading.
Q5: As an advanced scalability project with enhanced speed and lower fees running on “SERUM”, do you expect to have the best to offer in terms of cross border crypto swapping?
The gas fees on Solana and Raydium are the cheapest in the industry, and other blockchains simply can’t compete with the speed of Solana. Adding that with a limit orderbook for users to enhance their trading, and deep ecosystem wide liquidity, we think that we provide one of the most competitive DEX experiences at the moment. And it will only get better from here!
Part 3. Questions from TG group
Q1 I understand that raydium launched the accelerator. How much is the initial investment of this?
Well, every project will have some different requirements for the allocation that users are allowed to contribute, for MEDIA, this will 600 USDC or 450 USDC depending on which pool you join!
Q2 Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can you share some of the partnerships you have formed with existing blockchain foundations recently??
Well we work very closely with Solana and Serum to build out the ecosystem. We’ve also recently partnered with Sushiswap to help build out their platform on Solana. And we’re always partnering with more projects for our AcceleRaytor and Fusion pools, more to come!
Q3 What is the main roadmap for 2021?
Our biggest goals are to continue driving liquidity and growing the ecosystem on Solana. We’re doing this by launching new projects on AcceleRaytor and creating liquidity through Fusion pools! You can also expect new features and improvements!
Q4 What is the long term advantage for invest in Raydium?
Raydium has a first mover advantage as an AMM on Solana, and we’re also the only AMM that is able to share liquidity with the Serum order book. As our platform grows, we expect to attract even more partner projects, which will attract more users, helping to sustain Raydium for long term growth!
Is there have any investment from VC?
We made it a big point as we were building to only accept investment from very strategic partners who could partner with us to really drive value and build community. This is most important to us, building the ecosystem.
How secure is raydium? How has raydium developed technology and security to build raydium into a truly secure and reliable platform?
We take security as our number one priority at Raydium, we have a top security specialist as one of our core team devs and we’re currently undergoing a full code audit with Kudelski. Your funds are SAFU!
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