Solana and Raydium

By ty5 | Money Matters | 8 Apr 2021

Hey crypto fans, it seems that the financial system is evolving and crypto or virtual currency is a major part of the finacial evolution. There is new blockchain that is FAST, SCALEABLE and transactions are cheap! I'm talking about Solana.

Solana is a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption.

I am not a financial advisor or a crypto expert. I am an enthusiast and try to keep up with technology. Pioneers in this space laid ground work, however, transaction fees and exorbitant amounts of energy has lead me to Solana.

How can we expect adoption of virtual currencies when it costs X________amounts virtual currency to send $5 usd worth to another wallet?

I looked at a couple of the latest transactions I made and each one was: 0.000005 SOL

0.000005 SOL X 48. = 0.00024 usd/transaction.ย 

1usd โž— .00024 = 4166.6 that is how many transactions you could do for 1 ๐Ÿ’ต at current rate. Now that is affordable! No transactional anxiety there!ย 

I'm using Sollet wallet. Just have to remember to keep some $SOL in wallet to cover transactions, and add assets using the + in top corner of web app you want to store and or trade.


Now introducing Raydium:

Raydium is an automated market maker (AMM) built on the Solana blockchain which leverages the central order book of the Serum decentralized exchange (DEX) to enable lightning-fast trades, shared liquidity and new features for earning yield.

I recently used Raydium to sell $SRM and buy $RAY then used both tokens to provide liquidity to the DEX for a portion of exchange fees. I then staked my RAY/SRM LP in Raydium to farm $RAY.ย 

โžก๏ธHere โฌ…๏ธย is a much more detailed introduction to Raydium. I wish good luck and prosperity in your crypto adventures!

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