Raydium dApp on Solana
All about Raydium and how to connect to it with your Exodus Browser Extension.
In this article:
- What is Raydium?
- Do I need Solana (SOL) to use Raydium?
- What can I do with Raydium?
- How do I connect my Exodus Browser Extension to Raydium?
- How do I disconnect my Exodus Browser Extension from Raydium?
What is Raydium?
Raydium is an Automated Market Maker (AMM) on the Solana network.
Using Raydium, you can participate in DeFi in a variety of ways, such as trading and swapping your Solana (SPL) tokens, adding liquidity through liquidity pools, earning additional rewards through yield farming, and staking your Raydium tokens.
One of Raydium’s key features is its integration with Serum, one of the largest DEXs in the Solana ecosystem. This allows Raydium to share liquidity with Serum as well as access to its central limit order book. This means that liquidity providers on Raydium are providing liquidity to both Serum and Raydium, and collecting liquidity fees from both platforms.
Do I need Solana (SOL) to use Raydium?
You can connect to and disconnect from Raydium without a SOL balance. However, any transaction within Raydium, such as staking, swapping, etc, will incur a Solana network transaction fee, for which you will need a small amount of Solana to complete that transaction. Almost all transactions will cost 0.000005 SOL.
What Can I do with Raydium?
In this section, you can trade your SPL tokens by placing Buy and Sell limit orders, review historical price data and recent trades, as well review your open orders, recent trade history, and balances.
If you want to exchange your tokens using a simpler interface, Raydium offers a quick and easy swap option.
When you select the tokens you want to exchange, Raydium will automatically compare the prices in both Raydium and Serum, and give you the best price available.
You can add liquidity to a pool by depositing equal dollar amounts of 2 tokens. For example, if you want to provide liquidity to the RAY-USDC pool, you would add an equal amount of USDC and RAY.
Let's say you add 100 USDC and 100 USD worth of RAY. In return you would receive RAY-USDC LP tokens equal to the dollar value of the liquidity you provided, in this case 200 USD.
Your LP tokens represent a proportional share of the pooled assets, which you can reclaim at any time.
Every time a user swaps between RAY and USDC there is a 0.25% fee on the trade. 0.22% of this fee goes back to the LP pool. You then receive a percentage of those fees based on the size of your share of the liquidity pool.
One of Raydium’s key features is its integration with Serum, which allows Raydium to share liquidity as well as access to Serum’s central limit order book. This means that liquidity providers on Raydium are providing liquidity to both Serum and Raydium, and collecting liquidity fees from both platforms.
Farming allows you to stake your LP tokens and earn additional rewards as an incentive. You can earn RAY or project tokens depending on the farm you choose, there are even farms that offer dual yields, allowing you to earn both a project token and RAY.
If you have RAY tokens, staking them in Raydium is another very way to earn even more RAY.
How do I connect my Exodus Browser Extension to Raydium?
Before proceeding, please ensure that you have first enabled Prioritize Exodus in Exodus Browser Extension. Here's our guide on how to do so if you haven't already.
- Go to Raydium.io and click on Launch App.
- Click on Connect wallet icon located at the top right, and then select Phantom
- On the connection approval screen, click Connect.
And that's it! You're now ready to start using Raydium.
How do I disconnect my Exodus Browser Extension from Raydium?
- Click on your wallet address at the top right corner.
- Click Disconnect wallet.
From Exodus Browser Extension:
- Click on the Menu icon in the bottom right corner.
- Click on Connections.
- Click on the Trash icon next to Raydium.