Raydium Launches Perpetual Futures Trading on Solana’s DEX
Raydium, a prominent decentralized exchange on Solana, has launched perpetual futures trading through an integration with Orderly Network. This marks the first such offering on Solana, enhancing trading opportunities in decentralized finance.
- Raydium has over 8.4 million users and 600,000 daily active traders.
- The platform shifts from spot trading to utilizing Orderly’s omnichain orderbook, consolidating liquidity from 30 exchanges and supporting 73 perpetual contracts.
- Traders can leverage futures with up to 40x, zero maker fees, and taker fees at 0.025%.
- Perpetual futures are significant in DeFi, accounting for $650 billion in trading volume and generating $490 million in fees.
Ran Yi, Co-Founder of Orderly Network, highlighted the integration as a major advancement for Solana's DeFi ecosystem, emphasizing improved liquidity and trading options.
Raydium's new offering addresses historical liquidity challenges on Solana compared to Ethereum-based platforms. The beta version includes over 70 trading pairs and aims to attract on-chain leveraged traders.
Currently, Raydium is the third-largest DeFi protocol on Solana, with $2.13 billion in total value locked (TVL), reflecting the growing trend towards decentralized trading platforms.