So, Raydium, the little engine that could, is now trying to muscle in on Solana’s big perps market. You know, the place where crypto traders pretend they’re in the S&P 500?
Raydium’s like the new kid at school who’s already running for class president. They’ve only been offering these derivatives contracts for a few weeks, and they’re already doing $100 million a day. Whoa, Nelly!
They’re number three on the Solana charts, behind Jupiter and Drift. You know, the cool kids who’ve been there forever. But Raydium’s growing like a weed, and they haven’t even started their big marketing push. You know, the one that usually involves airdrops and influencers?
“Raydium brand still packs a punch,” says InfraRAY, the project’s equivalent of the cool teacher everyone wants to impress.
Raydium’s already the king of the AMM hill on Solana. Their system is so easy, even your grandma could spin up a trading pool. But here’s the kicker: most people using Raydium don’t even visit their website. They’re all about those aggregators, splitting orders like they’re at a buffet.
Now, in crypto-speak, you’ve got your “makers” and your “takers.” Raydium’s got the makers down, but they’re like, “Hey, we want the takers too! We want the whole shebang!”
Enter Orderly Network, the cool friend from another school who’s helping Raydium get in with the popular crowd. They’re letting perps traders from all over the blockchain block party come together and trade like one big happy family.
Orderly’s been a real wingman for Raydium. Solana traders are now responsible for a quarter of Orderly’s action. That’s like going from zero to hero in a month.
“We’re talking $200 to $400 million a day,” says CEO Ran Yi. “Not too shabby for a couple of dozen projects.”
But InfraRAY’s like, “Sure, it’s great, but we’ve got some cross-chain stuff to work out. It’s like trying to solve a Rubik’s Cube while riding a unicycle.”
Next up: the big debut. Raydium’s perps service is about to take off the training wheels and hit the big leagues. Once it does, they’re gonna be all over the place like a bad rash.
Raydium’s still a ways off from being the top dog. Jupiter’s doing nearly $2 billion a day, and Drift’s double Raydium’s volume. But InfraRAY’s like, “We’ve got this. We can play the long game.”
He thinks the perps market is just going to keep growing, and Raydium’s gonna be there with a front-row seat. “I expect more competition and innovation. But for now, we’re at the table, and we’re not leaving until we’ve had dessert.”
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2025-02-05 22:21