back09 Mar 20221 min read
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New Pyth Data Provider: Raydium

We are excited to welcome Raydium, the leading Automated Market Maker (AMM) on Solana, to the Pyth Network.

If you would like to learn more about AMMs, we recommend this blog from one of our data publishers, Apifiny.

Who is Raydium?

  • Raydium was among the first AMMs to go live on Solana in early 2021. Since then, Raydium has established itself as the Solana leading AMM with about $600M of Total Value Locked and over $43B in volume traded.
  • Currently, 35 trading pairs on Raydium have over $2.5M in liquidity and 60 over $1M.
  • In mid-2021, Raydium released its AcceleRaytor, a launchpad for the Solana projects to raise capital and drive initial liquidity in a decentralized and interoperable manner.
  • During 2021 Q3, Raydium expanded its AcceleRaytor with DropZone, which is dedicated to NFTs and aims to enable anyone to raise capital, seamlessly distribute NFT collections and build their community.

Raydium will contribute to Pyth by publishing in real-time its on-chain crypto prices to the network.

We look forward to further onboarding other amazing DeFi protocols as publishers. Indeed, these offer significant coverage for cryptocurrencies which will, in turn, enable Pyth to support more crypto assets and strengthen existing Pyth products.

Within the past 2 years, DeFi protocols have grown significantly, and even though they are still 20x smaller than CEXs on average, DeFi has become a non-negligible part of the greater crypto market.

With the addition of Raydium, applications can expect an even better digital asset market coverage as well as an increased ability to support less established assets and strengthen existing Pyth products.

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We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.

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