⇗ Raydium Coin: DEX of Solana for Future Growth amidst Meme Coin Mania and Challenges

Raydium, a decentralized exchange (DEX) on Solana, has recently been making notable progress in the cryptocurrency market, with a growing trading volume that certainly raises eyebrows. It has introduced a Burn-and-earn feature enabling coin creators to lock liquidity permanently. In addition, Raydium's native RAY token has witnessed both growth slows and highs along with a substantial increase in total value locked (TVL) amidst the meme coin mania across the Solana network. The newly launched burn and earn feature helps in permanent liquidity locking for meme coin creators. Notably, Raydium's integration with MoonPay has further provided instant access to Solana. Raydium has been integral to launching several new Solana based meme coins. However, not all launches have been successful, with its launch of its own token facing some challenges. Recent upgrades featuring dYdX getting raydium support, isolated margin, and markets, have bolstered Raydium's operations. Meanwhile, Raydium has become a popular choice for the launch and listing of meme coins, with entities like Pump.fun to Gigacat finding their footing through the exchange. Amid this, Raydium did become a victim of an attack, leading to a loss of $2M. However, the DEX revealed the details of the hack and proposed a compensation plan for the victims, showing their commitment towards their customer security.

Raydium Coin News Analytics from Tue, 09 Feb 2021 20:29:55 GMT to Fri, 27 Sep 2024 16:05:53 GMT - Rating 4 - Innovation 3 - Information 6 - Rumor 2