Raydium is an automated market maker (AMM) built on the Solana blockchain that uses the central order book of the Serum decentralized exchange (DEX) to fulfill trades. Raydium's swap feature allows users to exchange between tokens through Serum, while its UI also allows for other trading features like limit orders. The exchange also features a token called RAY that will allow holders to claim 0.03% of trading fees.

Raydium

LaunchLab

Maximizing Profits with Raydium

**What is Raydium?**

Raydium is a high-performance decentralized exchange (DEX) and liquidity platform built on the Solana blockchain. As one of Solana’s earliest DeFi primitives, Raydium distinguishes itself by combining AMMs with an integrated central limit order book (CLOB), routing liquidity through Serum to enable deeper execution and improved price discovery.

Its hybrid architecture supports three pool types—AMM, CLMM, and CPMM—and has become a launch and liquidity destination for memecoins, AI projects, and long-tail assets. With ultra-low fees, rapid finality, and native LaunchLab tooling, Raydium plays a critical role in Solana’s broader financial stack.

**Raydium Dashboard**

Explore our Raydium dashboard for live, in-depth analytics covering economic performance, user engagement, liquidity dynamics, and LaunchLab token behavior. The interface is tab-aligned and modular, enabling seamless toggling between financials, pool activity, trader stats, and more.

**How can I use Raydium analytics?**

The Raydium dashboard is segmented across several interactive tabs, each reflecting a different layer of the protocol’s on-chain footprint. Here’s how to explore them:

**Financials**

Track Raydium’s protocol-level economic data:

*   Gross Profit & Net Profit by source
*   Swap Revenue and Launch Revenue over time
*   Fee Collection, Cash Flow, and Treasury activity
*   Buybacks and Token infrastructure costs
*   Real-time income statements and balance sheets

**Onchain Activity**

Understand how users and tokens behave:

*   Pool creation cadence and activity by type (AMM, CLMM, CPMM)
*   Active vs. inactive pools, including daily pool uptime
*   Migrations from Pump.fun and other sources
*   Time-of-day and day-of-week analysis for new pool creation

**DEX Activity**

Monitor real-time trading flows:

*   Swap volumes segmented by token type and pair
*   CLMM and CPMM volume and TVL ratios
*   Liquidity velocity and efficiency metrics (LVR, delta-hedged P\&L)
*   Median swap size and volume/TVL ratios

**How is Raydium data gathered?**

Raydium analytics are powered by a combination of:

*   Industry-standard indexers (e.g., Dune, DefiLlama, Goldsky)
*   RPC endpoints to Solana mainnet
*   Custom analytics models developed by Blockworks Research
*   Rigorous validation for accuracy and normalization

**What is Network REV in Raydium analytics?**

Network REV (Real Economic Value) represents the total protocol revenue generated from on-chain activity, encompassing both swap fees from AMM, CLMM, and CPMM pools, as well as launch fees from tokens bootstrapped via LaunchLab. On Raydium, REV is closely tied to the platform’s core economic flows—particularly swap execution volume and the pace at which new tokens move through LaunchLab. This makes it a chain-agnostic metric for assessing real demand across the ecosystem. Unlike protocols that rely solely on one liquidity model, Raydium routes orders through Serum’s central limit order book while simultaneously earning native AMM fees, blending both passive and active liquidity strategies into its revenue profile.

**Why is on-chain activity important in Raydium analytics?**

Tracking Raydium’s pool deployments, migrations, and active pool stats is essential to gauging developer confidence and retail experimentation. Daily pool uptime, migration trends from Pump.fun, and timing insights (e.g., pool creation peaks at noon EST) reflect emergent demand in the Solana ecosystem. These metrics help surface which narratives are sticking and when new token launches gain real liquidity traction.

**What applications are most active on Raydium?**

Raydium supports a long tail of ecosystem tokens, with LaunchLab fueling hundreds of daily launches from memecoins, AI tokens, and emerging communities. On the DEX side, core trading volume concentrates around SOL pairs, stablecoins, and liquidity-staking tokens (LSTs). The dashboard allows users to monitor token-level fees and volume, identify which LaunchLab tokens have successfully graduated, and track the market capitalizations of live tokens alongside their daily trading performance.

**How can I track DEX activity on Raydium?**

The Raydium dashboard visualizes DEX activity across multiple dimensions:

*   Swap revenue by token type and pool class
*   TVL trends and liquidity composition
*   Volume breakdowns by pool age, fee tier, and tick spacing
*   Liquidity provider (LP) earnings, with split views for active vs. locked LPs

Whether you're a trader watching volume surges or a protocol analyzing capital efficiency, the dashboard delivers granular clarity.

**What does Raydium trader behavior look like?**

Trader insights on Raydium are among the most granular in DeFi, offering a detailed view into user behavior and platform engagement. The dashboard distinguishes between new and returning wallets, tracks retention rates across monthly cohorts, and segments activity by lifetime wallet size. It also provides data on trade frequency and median trade size per address, categorizes reverts by failure type (such as slippage or invalid orders), and highlights external routing platforms like BONKBot, Maestro, and BullX. For a deeper look into individual behaviors, the dashboard ranks top wallets by trading volume, DEX preference, and most-used token pairs.

**How do liquidity pools behave on Raydium?**

Liquidity creation and reuse are core to Raydium’s role as Solana’s DEX workhorse. Key metrics include:

*   Daily pool creation by type and fee class
*   Time-based activity windows (most pools created midday EST)
*   Migration tracking from external launchpads (notably Pump.fun)
*   Active pool percentage, helping filter for real liquidity

This data provides a top-down lens on market experimentation and infrastructure saturation.

**What is LaunchLab and how do token launches perform on Raydium?**

LaunchLab is Raydium’s native token deployment platform, powering over 105,000 token launches with tracked performance outcomes. The dashboard provides insight into the total number of tokens launched and those that have successfully graduated by meeting key performance thresholds. It breaks down graduation rates by launch platform, shows market cap distributions and trading volumes, and details the fees earned by both the platform and token creators. Users can also view average time-to-graduation and historical success trends. A comparative table benchmarks launch platforms such as letsbonk.fun, cook.meme, and Pumpkin.fun, each of which follows different fee structures, burn mechanics, and success rates.

**How Blockworks sources this data**

All Raydium analytics are powered by transparent, on-chain data aggregated by Blockworks Research using battle-tested indexers, RPC nodes, and proprietary models cross-validated for accuracy.


Financials

RAY Token

Trading Volume

Pool TVL

Pool Activity

Traders

Raydium - Financials

12% of swap fees are collected to repurchase RAY.

Raydium: RAY Buyback Program

RAY on the balance sheet is exclusively from buybacks as they are earned through economic activities. 

RAY minted but not issued into circulating supply, such as unvested RAY, is equivalent to "authorized shares" in traditional finance. As a result, they are a non-balance sheet item and do not appear as an asset.

Raydium: Total Assets

4% of trading fees from CLMM and CPMM pools are collected into the treasury as USDC.

Raydium: Treasury Fund

The F column indicates a linear forecast for the rest of the year.

There are two revenue sources under Net Revenue
- Swap Revenue
  - AMM: 0.03% of all trades using Raydium's AMM program is collected and used for the RAY buyback.
  - CPMM: 16% of the total trading fees on the pool is collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
  - CLMM: 16% of the total trading fees on the pool is collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- Launch Revenue
  - AMM: A 0.15 SOL fee is collected for each new pool to cover infrastructure costs.
  - CPMM: A 0.15 SOL fee is collected for each new pool to cover infrastructure costs.

Infrastructure Costs: A portion of the launch fees are earmarked to cover infrastructure costs. We currently track outflows from these launch wallets as expenses to infrastructure costs.

Fee Collection Adjustment is the difference between when revenue is accrued and the total amount collected in either RAY or USDC. This value can occur due to price volatility in the accrued asset or whether the liquidity is removed prior to the collection.

Expenses include:
- Team: Amount vested to the team
- Partnerships: Expenses from this token account
- Advisors: This is currently an unallocated amount
- Liquidity: Expenses from this token account
- Mining Reserve: Expenses from this token account
- Other: Any unidentified transfers from the treasury.





  

Raydium: Income Statement

Total Assets

Liquid Assets
- Raydium's buyback program and USDC treasury fund are accounted here under liquid assets.

Total Capital
- Tokens issued are the $ amount of RAY issued. 
- Token Rewards is the amount of RAY given to the Community and Seed portion (6% of total RAY supply)
- Currency Translation Adjustment refers to the $ difference when revenue is received versus the market value of those assets.
- Fee Collection Adjustment is the difference of when revenue is accrued and the total amount collected in either RAY or USDC.

Raydium: Treasury Statement

Raydium uses its accrued revenue to either buyback RAY or accumulate USDC in its treasury fund. The percentage breakdown is below:
- AMM: 0.03% of all trades using Raydium's AMM program are collected and used for the RAY buyback.
- CPMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- CLMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.

Raydium also collects launch fees on new AMM and CPMM pools. A portion of this amount is earmarked for infrastructure costs. Outflows from these wallets are categorized as expenses under "infrastructure costs".

Raydium: Cash Flow

RAY uses its accrued revenue to either buyback RAY or accumulate USDC in its treasury fund. The percentage breakdown is below:
- AMM: 12% of the total trading fees using Raydium's AMM program are collected and used for the RAY buyback.
- CPMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- CLMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.

Raydium also collects launch fees on new AMM and CPMM pools. A portion of this amount is earmarked for infrastructure costs.

Direct

Raydium: Cash Flow Statement

Only included here are pools from the following trading pairs:
- SOL-USD
- Stablecoin Swaps
- LST Swaps
- Project Tokens

Excludes revenue from AI Agent and Memecoin trading pairs.

Raydium: Non-Memecoin Swap Revenue by Trading Fee

**Swap Revenue**
* Total revenue earned from swap fees on AMM, CPMM, and CLMM pools

**Pool Launch Revenue**
* Revenue that is collected from the launching of new pools. 0.15 SOL for new AMM and CPMM pools. This is earmarked for "infrastructure costs"

**LaunchLab Revenue**
* Revenue that is collected from trading on launchpads built ontop of LaunchLab. Raydium collects 0.25% of the swap value on every launchpad (i.e., letsbonk.fun, Pumpkin.fun, etc.) and Raydium also has their own launchpad, called Raydium, that is an additional 0.75%.

Raydium: Revenue

Only includes revenue from AMM, CPMM, and CLMM pools

Raydium: Swap Revenue

Based on the past 30 days

Raydium: Total Revenue

Raydium: Total RAY Purchased

Compares the acquisition cost of RAY tokens and the fair value of current holdings

Raydium: RAY Buyback Execution

Total Raydium revenue earned from various launchpads using LaunchLab SDK

Raydium: Composition of LaunchLab Revenue

Measures how much revenue Raydium is making off of LaunchLab tokens:
* Bonding Curve: Revenue from bonding curve trades on LaunchLab
* Post Bonding Curve: Revenue from Raydium AMM/CPMM pools that include graduated LaunchLab tokens

Raydium

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