Raydium

8.7/10

Verdict: Top-tier DEX for LPs and yield farmers who want deep SOL-native liquidity and farm rewards.

Best for
LP yield farming on Solana
TVL
$1.06B TVL
Founded
2021
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Overview

Raydium is Solana's largest native AMM with over $1B in TVL. It offers both standard constant-product (AMM v4) and concentrated liquidity (CLMM) pools. LPs earn swap fees on all trades routed through their pools, plus optional RAY token farm rewards on select pairs. Raydium's liquidity is also accessible through Jupiter's aggregator, meaning LPs earn fees from Jupiter-routed swaps. The LaunchLab feature allows permissionless token creation, though most launched tokens carry extreme speculation risk.

Raydium Key Features

CLMM Concentrated Liquidity

Tick-spacing pools with up to 100x capital efficiency vs AMM v4.

AMM v4 Pools

Standard constant-product AMM with deep SOL/USDC, SOL/USDT pairs.

Farm Rewards

RAY token emissions on select pools for bonus APY.

LaunchLab

Permissionless token launch platform (successor to LetsBONK.fun).

Raydium Fees & Pricing

FeeValueNotes
Swap fee0.25%Standard constant-product fee on AMM v4 pools, split between LPs.
CLMM fee tiers0.01% / 0.05% / 0.25% / 1%Select based on pair volatility.
LaunchLab creation0.15 SOLOne-time fee to create a token launch.

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How to Get Started with Raydium

  1. 1

    Connect wallet

    Go to raydium.io, click Connect, select Phantom.
  2. 2

    Swap tokens

    Select token pair, enter amount, review route and fee.
  3. 3

    Add liquidity

    Choose CLMM or AMM pool, set price range (CLMM) or deposit both tokens (AMM).
  4. 4

    Farm rewards

    Navigate to Farms tab, stake LP tokens for RAY emission rewards.

Raydium Risk Assessment

  • Smart contract

    medium

    Audited by multiple firms. Large TVL makes it a target. No major exploit to date.

  • Impermanent loss

    high

    CLMM positions can lose value vs holding, especially on volatile pairs. AMM v4 has lower IL but lower yields.

  • LaunchLab token risk

    high

    95%+ of tokens launched via LaunchLab lose most value within 48 hours. Do not buy launched tokens expecting them to hold value.

What Can You Do with Raydium?

  • LP yield farming

    Provide liquidity to earn swap fees + RAY farm rewards.

  • CLMM concentrated LP

    Target specific price ranges for higher capital efficiency.

  • Token launches

    Use LaunchLab to create and launch new SPL tokens.

Raydium: Pros & Cons

Pros

  • $1B+ TVL — deepest native Solana AMM liquidity
  • CLMM pools for concentrated LP yield
  • RAY farm emissions on top pools

Cons

  • UI less polished than Jupiter
  • Some farm APYs are token-emission dependent
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