Raydium Swaps

The purpose of this article is to create a visualization that compares Rayidum, Jupiter, and Orca from January 1st to present the number of swaps and unique wallets. And also What have been the top most popular tokens to swap and swap for on Raydium during that time period? How did they change over time?

What is Raydium?

A feature of Solana that stands out among other cryptocurrencies is its lightning speed of up to 65,000 transactions per second, 400ms block time, and less than $0.01 average transaction fees. Raydium was built on the Solana blockchain by believing in its future growth. In order to create Raydium, we use the central order book of the Serum decentralized exchange (DEX) and the Solana blockchain. Using this technology, we can enable lightning-fast trades, shared liquidity, and new features to earn yield. DeFi and DEXs of other AMM platforms are able to access liquidity within their own pools, but they have no access to a central order book. A major problem with Ethereum platforms is that transactions are slow and gas fees are high. Raydium has a blockchain-based order book that allows for lightning-fast trades, distributed liquidity, and new profit-sharing features.

How to Swap on Raydium?

On Raydium, tokens are traded similar to on other platforms, but faster and cheaper. Raydium charges a 0.25% fee for every trade or swap you make. In return, liquidity providers are rewarded with 0.22 percent of the liquidity pool. RAY token holders who stake their tokens earn 0.03% as a reward. The Raydium Swap will hold your order until the “worst price” during the swap rather than cancel it if the price moves past your slippage tolerance.

  • Step1: Select Swap, then connect your wallet using the tabs at the top of the app.
  • Step2: Next, select the tokens you wish to swap from the drop-down list. 
  • Step3: Then select the amount of tokens you wish to swap. Then click Swap.
  • Step4: Next, click ‘Approve’ in your wallet to confirm the transaction. In just a few moments, you will be prompted again to approve the transaction. Make sure to approve this quickly, or else it might fail.
  • Step5:  Usually, you’ll see your updated balance shortly after settling the transaction, although sometimes it can take a few seconds to load.

The following graph shows the number of swaps on Raydium, Jupiter, and Orca since January 1, 2022.  Of the three swap programs, Raydium v4 contributes the most (39.63%) to the total number of Unique Swaps. It is also notable that Unique Swaps are decreasing. At first, we can see an increase in the number of unique wallets available on Raydium. The amount of wallets on Raydium decreases over time. 

Based on the percentage of swaps on Raydium, Jupiter, and Orca since January 1st 2022, raydium v4 is contributing more swaps than the other 2 swap programs.

From the below graph we can see the unique wallets on Raydium, Jupiter and Orca since Jan 1st,2022.  Among the 3 Swap Programs, Raydium v4 represents the highest share (51.35%) of Unique Wallets. A maximum of 48.12K unique wallets was observed on March 31, 2022. Orca is showing a trend of increasing unique wallets. On the other hand, raydium shows a decreasing trend.

As you can see from the below graph, Raydium popular tokens have been swapped from and swapped to by transactions since January 1, 2022.  In total, USD Coin swaps contributed for 43.79% of swaps and if you take the top 2 coins, more than 70% of swaps were from those coins. In terms of total swaps, the lowest total swap is 20.01K (marinade staked sol (msol)) and the highest is 1.72M (usd coin). The highest total swap was observed in January 24, 2022. There is a decreasing trend in swaps.

The swap from by transactions takes place here, and the top spot goes to the usd coin, the second goes to wrapped sol, and the third position goes to raydium.

In total, USD Coin swaps contributed for 44.71% of swaps and if you take the top 2 coins, more than 73% of swaps were from those coins. In terms of total swaps, the lowest total swap is 11.01K (serum) and the highest is 1.86M (usd coin). The highest total swap was observed in January 24, 2022. There is a decreasing trend in swaps.

The swap to by transactions takes place here, and the top spot goes to the usd coin, the second goes to wrapped sol, and the third position goes to raydium.

Observations

  • Based on the analysis above, if we compare the unique swaps and the unique wallets of Raydium with those of Jupiter and Orca since Jan 1st,2022, it is in top position in these metrics.
  • In addition, we see initially Raydium is more popular for swaps, and its unique wallets are more popular in the beginning, but they decline into a decreasing trend.
  • Orca’s growth in unique wallets is increasing, but Jupiter and Raydium are exhibiting a similar pattern, like both are increasing at the same time and decreasing at the same time, which means that they are showing some consistency except for Orca.
  • Among these swap from by transactions and swap to by transactions since January 1, 2022, the top spot goes to the usd coin, followed by wrapped sol and raydium.

Leave a Reply