Raydium is one of the oldest and largest DEXes on Solana. The platform combines a classic AMM with central order book integration, providing deeper liquidity. Raydium CLMM (Concentrated Liquidity Market Maker) allows liquidity providers to choose precise price ranges. The platform is also popular for its token launch functionality and AcceleRaytor launchpad.

Advantages

• Hybrid AMM + order book for deeper liquidity
• CLMM for concentrated liquidity
• Launchpad for new tokens
• Solana speed and low fees

Disadvantages

• Only works on Solana
• Competition with Orca and Meteora for liquidity
• Dependent on Solana network stability

Security

• Audits by MadShield and others
• Non-custodial swaps
• Operating since 2021