RAY/TRY Trading Pair to Be Added to Binance
Binance will open trading for the RAY/TRY on March 27th at 13:00 UTC.
Refer to the official tweet by RAY:
Binance@binanceMar 26, 2024We're adding new trading pairs on #Binance Spot!
In addition, we will enable Trading Bots services for several trading pairs effective 27 March 2024, 1:00 pm UTC.
Full details ⬇ï¸https://t.co/qVd8FxuaQ0
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.