# Table of Contents - [Best practices |](#best-practices-) - [How-to guides |](#how-to-guides-) - [Welcome to UI V3 |](#welcome-to-ui-v3-) - [Position creation cost (CLMM) |](#position-creation-cost-clmm-) - [APIs |](#apis-) - [Blinks and Referrals |](#blinks-and-referrals-) - [Developers |](#developers-) - [SPL Wallet |](#spl-wallet-) - [CLMM Bug Bounty Details |](#clmm-bug-bounty-details-) - [Hybrid AMM Bug Bounty Details |](#hybrid-amm-bug-bounty-details-) - [Addresses |](#addresses-) - [Providing Concentrated Liquidity (CLMM) |](#providing-concentrated-liquidity-clmm-) - [Liquidity providing FAQ |](#liquidity-providing-faq-) - [Pool creation fees |](#pool-creation-fees-) - [Intro on Concentrated Liquidity |](#intro-on-concentrated-liquidity-) - [RAY Buybacks |](#ray-buybacks-) - [Providing Constant Product liquidity |](#providing-constant-product-liquidity-) - [Burn & Earn |](#burn-earn-) - [Swap FAQ |](#swap-faq-) - [Pool creation FAQ |](#pool-creation-faq-) - [Swapping |](#swapping-) - [The Raydium Protocol |](#the-raydium-protocol-) - [RAY Staking |](#ray-staking-) - [Buying and selling digital assets |](#buying-and-selling-digital-assets-) - [FAQ |](#faq-) - [Bug Bounty Program |](#bug-bounty-program-) - [Security |](#security-) - [Acceleraytor |](#acceleraytor-) - [Access Controls |](#access-controls-) --- # Best practices | _**Always verify the URL of the website**_ you are interacting with before connecting your wallet. Raydium.io is Raydium's only domain name. Any variation you may see on social networks, on a video description, or on an NFT is illegitimate and should be treated as dangerous. _**Always verify the transaction you are signing.**_ Whether you are on a legitimate website or not, always give a double-take before approving a transaction on your wallet. _**Do your own research**_. Raydium like many other dAPP is a fully permissionless platform. Raydium smart contracts allow any project or community to create a pool or farm. * **Verify the token address**: Ticker and Logo are set freely by token creators, the token mint is the true identity of a token. It suggested for users to copy and paste contract addresses rather than typing in the ticker. * **Read the documentation** before interacting with smart contracts. If you have doubts about the implications of one of your actions, feel free to join the Raydium [Discord](https://discord.com/invite/6EvFwvCfpx) or [Telegram](https://t.me/raydiumprotocol) for 24/7 support. * **Pay attention to warnings.** Whether it is a slippage warning informing you of potential bad execution or a confirmation to add a new mint to your token list, always read the information before approving. * Make sure you have read and understand [Raydium disclaimer](https://raydium.io/docs/disclaimer/) . [PreviousHow-to guides](/raydium/getting-started/how-to-guides) [NextFAQ](/raydium/getting-started/faq) Last updated 7 months ago --- # How-to guides | [PreviousBuying and selling digital assets](/raydium/getting-started/spl-wallets/buying-and-selling-digital-assets) [NextBest practices](/raydium/getting-started/best-practices) Last updated 7 months ago [](#how-to-swap) How-to swap --------------------------------- [](#how-to-provide-liquidity) How-to provide liquidity ----------------------------------------------------------- [](#how-to-create-a-pool) How-to create a pool --------------------------------------------------- [](#how-to-stake-ray-tokens) How-to stake RAY tokens --------------------------------------------------------- [Acceleraytor](/raydium/ray_token/acceleraytor) [](#developers-ressources) Developers ressources ----------------------------------------------------- [Developers](/raydium/protocol/developers) [https://github.com/raydium-io](https://github.com/raydium-io) [](/raydium/traders/swapping) [Providing Concentrated Liquidity (CLMM)](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm) [Providing Constant Product liquidity](/raydium/liquidity-providers/liquidity-pools) [Creating a CLMM Pool and Farm](/raydium/pool-creation/creating-a-clmm-pool-and-farm) [Creating an OpenBook AMM Pool](/raydium/updates/archive/creating-an-openbook-amm-pool) [Creating an Ecosystem Farm](/raydium/updates/archive/creating-an-openbook-amm-pool/creating-an-ecosystem-farm) [RAY Staking](/raydium/ray_token/stake-ray) [Swapping](/raydium/traders/swapping) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FV3cV8iiy7DBnF0wXP2ms%252FProvide%2520cl.png%3Falt%3Dmedia%26token%3D25f1c7ac-c0d6-49d6-9ae0-390f93277cc3&width=376&dpr=4&quality=100&sign=2906535c&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fbiyf12zeG7yTKaoqEPJo%252Fprovide%2520amm.png%3Falt%3Dmedia%26token%3Df03620e3-5585-4edc-b442-6a26ef0d3fe6&width=376&dpr=4&quality=100&sign=b65d881e&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FJRCRPFgSsX93flG5rRav%252Fcreate%2520cl.png%3Falt%3Dmedia%26token%3D65d715f6-956f-445b-bdec-2763856376c8&width=376&dpr=4&quality=100&sign=e95bb630&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fb4Jj6enw0okT4Iqa0LqX%252Fcreat%2520amm.png%3Falt%3Dmedia%26token%3D7059c747-3bc6-46c1-8cfc-2731aa813b5e&width=376&dpr=4&quality=100&sign=69c167e0&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FD1QCv8z5ZFnDbxnqnM2g%252Fecosystem%2520farm.png%3Falt%3Dmedia%26token%3D8fbe19ad-b6ae-4162-81ac-efd1df142eb8&width=376&dpr=4&quality=100&sign=88357244&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FocW3TecCrHlueAcORkBs%252Fstake%2520ray.png%3Falt%3Dmedia%26token%3D77598b6e-8c22-4983-8c6a-bf01d7928cb4&width=376&dpr=4&quality=100&sign=d070f039&sv=2) ![Cover](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FRnmuXr02aPYl2RiczgW0%252Fswap.png%3Falt%3Dmedia%26token%3Dcda35f58-4936-4950-afd8-761ec619ad86&width=376&dpr=4&quality=100&sign=7415aed4&sv=2) --- # Welcome to UI V3 | [Previous✌️ Say Hello to Raydium](/raydium) [NextSPL Wallet](/raydium/getting-started/spl-wallets) Last updated 2 months ago ### [](#swapping) Swapping **Charts**: V3 now onboards charts for any tradable token pairs on Raydium. This feature is accessible from both mobile and desktop platforms and can be easily toggled off by clicking the icon located at the top right corner of the swap UI. Please note: The data available on the chart view represents historical prices from Birdeye and does not necessarily originate exclusively from Raydium pool data. **Finding tokens:** The new swap GUI now integrates Jupiter tokens lists (strict or all) on top of the Raydium list. You can adjust your token list settings by clicking on a ticker and selecting "view token list". To prevent users from swapping for an incorrect token, Raydium prompts users to paste the contract address of tokens not included in any of the token lists. You can find this address directly on the project documentation, Raydium pool list, or any explorer. **Exact out**: Raydium V3 introduces a new bi-directional routing engine. Raydium's Swap UI now allows you to input the exact amount of quote token you wish to receive from a swap. When using Exact Out the slippage is applied to the base token amount. For example, you can specify the exact amount you'd like to swap for, with only the amount of base token paid susceptible to deviation from the quote based on your slippage tolerance. ### [](#portfolio) Portfolio Raydium V3 introduces a new portfolio page, displaying user positions. This page serves as the main interface for users to manage their positions (such as adding/withdrawing liquidity, collecting yield, etc.). However, users can create pools and positions from the pool list. This new page also offers quick access for pool and farm creators to edit their incentive campaigns. ### [](#liquidity) Liquidity The Liquidity Pools page now consolidates all Raydium liquidity under one roof. You can easily access CLMM, Standard (AMM pools), or ALL pools on the same interface. Additionally, this new page also comes with a **card view** which can be toggled by clicking the settings button next to the search bar. ### [](#user-settings) User settings All user settings and customization, which were previously scattered across different windows, are now reunited in the top right corner of your screen. You'll notice two additions to the user's customizations: **Language package**: Experience Raydium in your language! You can now choose your preferred language from the settings panel. The list of supported languages is expected to expand with community support. Please note: All of the translations are provided by community members, and may contain errors. Raydium is not liable for translation mistakes. Spotting inconsistencies in the translation, or your language is missing? Feel free to contribute by making a pull request to the following files: //GITHUB LINK LANGUAGE PACKAGE (coming later) **Color theme**: Raydium V3 brings light to DeFi. You can now choose between the original Raydium Dark theme or the brand-new Light theme. ### [](#mobile-optimization) Mobile Optimization Raydium V3 has been optimized for mobile users ensuring a smoother experience on the different [wallet apps.](/raydium/getting-started/spl-wallets) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FDppDwfmltgiAMRnXQ2fM%252FScreenshot%25202024-03-20%2520at%252014.31.36.png%3Falt%3Dmedia%26token%3Da1060837-532b-4202-8408-2e80a60657d4&width=768&dpr=4&quality=100&sign=1f2f43a1&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FOkH5iBmTuc6ZUSbUnRb6%252Fexact%2520out.gif%3Falt%3Dmedia%26token%3D31ba6207-a2e5-41c6-8746-3ba6cf5fb0a8&width=768&dpr=4&quality=100&sign=f25a5a7e&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FXYO6V8A5GluZSbo85wOF%252Fpool%2520list.gif%3Falt%3Dmedia%26token%3D2f758418-8d58-4bd7-8c14-e489c69f47a9&width=768&dpr=4&quality=100&sign=4aaaa385&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FcHr6LvnIcZpFWzHa6uU6%252FIMG_2155.jpg%3Falt%3Dmedia%26token%3D51ec9810-395b-4604-b5db-1a379e33a36d&width=768&dpr=4&quality=100&sign=46d477b8&sv=2) --- # Position creation cost (CLMM) | There is no protocol fee for creating a CLMM pool position. However, some Solana network and third-party fees apply: 1) Creation of a protocol position: 0.00245688 SOL 2) Creation of an account to store personal position\*: 0.00284664 SOL 3) NTF mint and (ATA)\*: 0.00277008 + 0.00207408 = 0.00484416 SOL 4) SOL network fee, and priority fee: <0.000007 SOL The average net cost after closing the position is 0.00245688 SOL Optional: when providing on a range including non-initiated ticks, a bitmap extension cost can occur. 5) Creation of a new Tick Array: 0.072 SOL - wide ranges can require multiple tick arrays None of the network fees mentioned above are refundable, except for those marked with \*. [PreviousEstimated APR Calculations](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm/estimated-apr-calculations) [NextProviding Constant Product liquidity](/raydium/liquidity-providers/liquidity-pools) Last updated 1 month ago --- # APIs | The following APIs are designed to allow monitoring and quick access to data. However, they aren't suitable for development purposes and in real-time tracking. If you're trying to watch monitor irt pool creation please refer to: [https://github.com/raydium-io/raydium-sdk-V1-demo/blob/master/src/subNewAmmPool.ts](https://github.com/raydium-io/raydium-sdk-V1-demo/blob/master/src/subNewAmmPool.ts) **V3 API** API: [https://api-v3.raydium.io/](https://api-v3.raydium.io/) doc: [https://api-v3.raydium.io/docs/](https://api-v3.raydium.io/docs/) **Old APIs** CL Pool API: [https://api.raydium.io/v2/ammV3/ammPools](https://api.raydium.io/v2/ammV3/ammPools) CL Pool configs: [https://api.raydium.io/v2/ammV3/ammConfigs](https://api.raydium.io/v2/ammV3/ammConfigs) CL Pool positions: [https://api.raydium.io/v2/ammV3/positionLine?pool\_id=](https://api.raydium.io/v2/ammV3/positionLine?pool_id=) \[AMM ID\] CP Pool API: [https://api.raydium.io/v2/main/pairs](https://api.raydium.io/v2/main/pairs) CP Farm API: [https://api.raydium.io/v2/main/farm/info](https://api.raydium.io/v2/main/farm/info) [PreviousAddresses](/raydium/protocol/developers/addresses) [NextSecurity](/raydium/protocol/security) Last updated 5 months ago --- # Blinks and Referrals | [PreviousSwap FAQ](/raydium/traders/swapping/trade-and-swap) [NextTrade API](/raydium/traders/trade-api) Last updated 6 months ago ### [](#intro-to-blinks-and-referrals) Intro to Blinks and Referrals Creators can create referral links for any token or pool and share them online. These links are compatible with Blinks on X.com, provided users have enabled this feature in their wallet settings. When users interact with a Blink or perform a swap using a referred link on Raydium.io, the creator earns a 1% referral fee. This is a powerful way to expand your community and incentivize engagement. ### [](#how-to-create-a-referral-link-or-blink) How to create a referral link or blink. 1\. **Connect Your Wallet:** Go to the swap UI and connect your wallet. If you don't connect a wallet, you can still create Blink or direct swap links, but these won't collect referral fees. 2\. **Select a "To" Token:** Choose the token you want to swap for, ie: RAY in the screenshot below. 3\. **Generate the Link:** Click on the chain link symbol located in the top right corner of the Swap window. You can then share this link on any platform. When shared on X.com, it automatically appears as a Blink to users who have enabled the Blink function. 4\. **Earn Referral Fees:** For every swap made through your shared link, you earn a 1% referral fee. FAQ How to activate Blinks in my wallet[](#how-to-activate-blinks-in-my-wallet) Navigate to your wallet settings. Then experimental features. Then enable Solana Actions on X. How to exit a referral link[](#how-to-exit-a-referral-link) Referral tips are optional, you can exit a referral link at any time by clicking 'Swap' in the navigation menu. ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FYgPTeiu9hWAGhxvqAL1D%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-07-02%2520a%25CC%2580%252012.55.14.png%3Falt%3Dmedia%26token%3D9984e1db-228f-4653-adb6-28e350a9de58&width=768&dpr=4&quality=100&sign=3a27e20e&sv=2) --- # Developers | Raydium's Github repository is available [here](https://github.com/raydium-io) . **Frontend**: [https://github.com/raydium-io/raydium-ui-v3](https://github.com/raydium-io/raydium-ui-v3) **SDK**: [https://github.com/raydium-io/raydium-sdk-V2](https://github.com/raydium-io/raydium-sdk-V2) **SDK Demo:** [https://github.com/raydium-io/raydium-sdk-V2-demo](https://github.com/raydium-io/raydium-sdk-V2-demo) **CPI example:** [https://github.com/raydium-io/raydium-cpi-example](https://github.com/raydium-io/raydium-cpi-example) **Developer Docs:** [https://github.com/raydium-io/raydium-docs/tree/master/dev-resources](https://github.com/raydium-io/raydium-docs/tree/master/dev-resources) **Discord:** [https://discord.com/channels/813741812598439958/1009085496279977994](https://discord.com/channels/813741812598439958/1009085496279977994) [PreviousProtocol Fees](/raydium/protocol/protocol-fees) [NextAddresses](/raydium/protocol/developers/addresses) Last updated 5 months ago --- # SPL Wallet | Before you get started using Raydium, you'll need a Solana Program Library (SPL) wallet for storing your funds on the Solana blockchain and for interacting with the Raydium Program. Don’t forget to fund your wallet with SOL, as it is required to execute a transaction on the Solana network. It is recommended to keep a minimum of 0.05 SOL in your wallet to avoid failed transactions. If you need to top up your wallet, please read the following [guide](/raydium/getting-started/spl-wallets/buying-and-selling-digital-assets) . Raydium supports many wallets including those recommended below.👇 **Web Wallet:** [Phantom](https://phantom.com/) offers a wallet and browser extension with a streamlined, user-friendly interface. Raydium highly suggests Phantom for new users and those that want a simple and straightforward wallet experience. [Solflare](https://solflare.com) is another digital wallet that enables universal access to the Solana blockchain and its associated applications. Solflare offers both a browser extension wallet and a web-page based wallet, the latter being particularly handy to monitor transactions history. [Backpack](https://www.backpack.app) is an intuitive next-generation browser extension allowing users to import SPL and ERC-20 addresses in the same wallet. Minting executable NFTs known as xNFT on Backpack allows users to access dApps natively in a single interface. **Mobile Wallets:** If you are accessing Raydium through your mobile device you can get started by using the Phantom or Solflare wallets available on both [IOS](https://apps.apple.com/us/app/phantom-solana-wallet/id1598432977) and [Android](https://play.google.com/store/apps/details?id=app.phantom) . Note that you can import your 12 or 24 word seed phrase used on your wallet extension to import your wallet to a mobile device. [PreviousWelcome to UI V3](/raydium/welcome-to-ui-v3) [NextBuying and selling digital assets](/raydium/getting-started/spl-wallets/buying-and-selling-digital-assets) Last updated 1 month ago --- # CLMM Bug Bounty Details | [PreviousBug Bounty Program](/raydium/protocol/bug-bounty-program) [NextHybrid AMM Bug Bounty Details](/raydium/protocol/bug-bounty-program/hybrid-amm-bug-bounty-details) Last updated 3 months ago Only those in the Assets in Scope table are considered as in-scope of the bug bounty program. Documentation and instruction for PoC can be found here: * [Raydium CLMM v3 overview document](https://github.com/raydium-io/raydium-docs/blob/master/dev-resources/raydium-clmm-dev-doc.pdf) A public testnet of Raydium can be found at [https://explorer.solana.com/address/proKtffCScMcwkFkPHFcuHawN7mWxRkhyh8PGxkTwYx](https://explorer.solana.com/address/proKtffCScMcwkFkPHFcuHawN7mWxRkhyh8PGxkTwYx) . However, note that testing on the public testnet is prohibited by the program rules. The public testnet is provided for reference only. If a Critical Impact can be caused to any other asset managed by Raydium that isn’t on this table but for which the impact is in the Impacts in Scope section below, you are encouraged to submit it for consideration. [](#concentrated-liquidity-assets-in-scope) Concentrated Liquidity Assets in Scope --------------------------------------------------------------------------------------- Please email security@reactorlabs.io with a detailed description of the attack vector. For high- and critical-severity reports, please include a proof of concept. We will reach back out within 24 hours with additional questions or next steps on the bug bounty. [![Logo](https://github.com/fluidicon.png)GitHub - raydium-io/raydium-clmm: Open-Source Concentrated Liquidity Market MakerGitHub](https://github.com/raydium-io/raydium-clmm) --- # Hybrid AMM Bug Bounty Details | [PreviousCLMM Bug Bounty Details](/raydium/protocol/bug-bounty-program/clmm-bug-bounty-details) [NextCPMM (CP-Swap) Bug Bounty Details](/raydium/protocol/bug-bounty-program/cpmm-cp-swap-bug-bounty-details) Last updated 3 months ago Documentation and instruction for PoC can be found here: * [Raydium Hybrid AMM overview document](https://github.com/raydium-io/raydium-docs/blob/master/dev-resources/raydium-hybrid-amm-dev-doc.pdf) A public testnet of Raydium’s AMM can be found at: AMMjRTfWhP73x9fM6jdoXRfgFJXR97NFRkV8fYJUrnLE A public testnet of OpenBook’s Central Limit Order Book can be found at: EoTcMgcDRTJVZDMZWBoU6rhYHZfkNTVEAfz3uUJRcYGj If a Critical Impact can be caused to any other asset managed by Raydium that isn’t included here but for which the impact is in the Impacts in Scope section below, you are encouraged to submit it for consideration by the project. [](#hybrid-amm-assets-in-scope) Hybrid AMM Assets in Scope --------------------------------------------------------------- Please email security@reactorlabs.io with a detailed description of the attack vector. For high- and critical-severity reports, please include a proof of concept. We will reach back out within 24 hours with additional questions or next steps on the bug bounty. [![Logo](https://github.com/fluidicon.png)GitHub - raydium-io/raydium-ammGitHub](https://github.com/raydium-io/raydium-amm) --- # Addresses | ### [](#raydium-programs) **Raydium Programs** Description Address Standard AMM (CP-Swap, New) `CPMMoo8L3F4NbTegBCKVNunggL7H1ZpdTHKxQB5qKP1C` Legacy AMM v4 (OpenBook) `675kPX9MHTjS2zt1qfr1NYHuzeLXfQM9H24wFSUt1Mp8` Stable Swap AMM `5quBtoiQqxF9Jv6KYKctB59NT3gtJD2Y65kdnB1Uev3h` Concentrated Liquidity (CLMM) `CAMMCzo5YL8w4VFF8KVHrK22GGUsp5VTaW7grrKgrWqK` AMM Routing `routeUGWgWzqBWFcrCfv8tritsqukccJPu3q5GPP3xS` Staking `EhhTKczWMGQt46ynNeRX1WfeagwwJd7ufHvCDjRxjo5Q` Farm Staking `9KEPoZmtHUrBbhWN1v1KWLMkkvwY6WLtAVUCPRtRjP4z` Ecosystem Farms `FarmqiPv5eAj3j1GMdMCMUGXqPUvmquZtMy86QH6rzhG` AcceleRaytor `9HzJyW1qZsEiSfMUf6L2jo3CcTKAyBmSyKdwQeYisHrC` ### [](#devnet) Devnet Standard AMM (CP-Swap, New) `CPMDWBwJDtYax9qW7AyRuVC19Cc4L4Vcy4n2BHAbHkCW` OpenBook AMM `HWy1jotHpo6UqeQxx49dpYYdQB8wj9Qk9MdxwjLvDHB8` Stable Swap AMM `DDg4VmQaJV9ogWce7LpcjBA9bv22wRp5uaTPa5pGjijF` Concentrated Liquidity (CLMM) `devi51mZmdwUJGU9hjN27vEz64Gps7uUefqxg27EAtH` Staking `85BFyr98MbCUU9MVTEgzx1nbhWACbJqLzho6zd6DZcWL` Farm Staking `EcLzTrNg9V7qhcdyXDe2qjtPkiGzDM2UbdRaeaadU5r2` AMM Routing `BVChZ3XFEwTMUk1o9i3HAf91H6mFxSwa5X2wFAWhYPhU` [PreviousDevelopers](/raydium/protocol/developers) [NextAPIs](/raydium/protocol/developers/apis) Last updated 2 months ago --- # Providing Concentrated Liquidity (CLMM) | [PreviousTrade API](/raydium/traders/trade-api) [NextIntro on Concentrated Liquidity](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm/intro-on-concentrated-liquidity) Last updated 7 months ago ### [](#how-to-provide-liquidity-in-a-concentrated-liquidity-pool) How to provide liquidity in a Concentrated Liquidity pool [Impermanent loss](https://www.gemini.com/cryptopedia/decentralized-finance-impermanent-loss-defi) can be significant in CLMM pools. A positive return is not guaranteed! Make sure to understand the risks before providing concentrated liquidity. If you haven't heard about Concentrated liquidity we recommend reading the following [article](https://docs.raydium.io/raydium/~/changes/RaVY5reeE9b0iaInst59/liquidity-providers/providing-concentrated-liquidity-clmm/intro-on-concentrated-liquidity) . 1. Select ‘**Liquidity**’ on the navigation menu. 2. After connecting a wallet, either input a token mint/pool address/ticker in the search bar or browse the pool list, then click '**Deposit**' on the desired pool. 3\. **Set the price range** for the position using the sliders on the graph, manually entering the min price and max price, or clicking the + and - buttons. **Note**: Price base token can be chosen in the top right corner of the window if preferred when selecting price range. For example, you can view the price as USDC per SOL, or SOL per USDC. 4\. Enter the deposit amounts for each token. Note that amounts must match the deposit ratio shown, and which is determined by the selected price range. 5\. Click '**Create position**', double-check the details of the position, then click '**Confirm Deposit**'. 6\. That's it! **An NFT that represents the position** will now be visible in your wallet! **IMPORTANT:** If an NFT is lost, sold, or burnt, the liquidity it represents will also be lost! ### [](#how-to-manage-a-position) How to manage a position To check or manage a position, click '**Portfolio**' in the navigation menu, all details can be viewed in the position drop-down by clicking 'View more'. 1. Liquidity can be added or removed from an existing position by clicking the + or - buttons. However, if you want to adjust the price range, you will need to create a new position. 2. When withdrawing liquidity, users have the option to keep their positions open. This allows them to redeposit into the position later, saving on fees associated with position creation, such as the Metaplex protocol fee of 0.01 SOL. ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FzY8ierwbT75AKympdH5J%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252013.57.45.png%3Falt%3Dmedia%26token%3Df3ad1092-ba9e-409e-bc80-c928203984f4&width=768&dpr=4&quality=100&sign=851ba7e4&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fbk5s0dPQBjm1nGGsEgFd%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252013.58.54.png%3Falt%3Dmedia%26token%3D54c04d23-9736-46c4-a5e5-50fde99a379e&width=768&dpr=4&quality=100&sign=e3923439&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252F2G3VXUwPaDBRLaOSJLlQ%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252013.59.46.png%3Falt%3Dmedia%26token%3D54c814a7-a3f1-485e-be2b-562fd5d9baad&width=768&dpr=4&quality=100&sign=be50857&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fuc0TreHFYEkNwfNjURSu%252Fwithdraw.png%3Falt%3Dmedia%26token%3Dcb4d39e5-a5f9-478d-81a7-9099bf48c1fd&width=768&dpr=4&quality=100&sign=3351125&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fm5llrZUjDEtn2NkEhqPR%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-18%2520a%25CC%2580%252019.12.54.png%3Falt%3Dmedia%26token%3D865c1cfd-cd9d-44b0-acb6-a6d4f35fd227&width=768&dpr=4&quality=100&sign=57b918af&sv=2) --- # Liquidity providing FAQ | APR[](#apr) APRs (annual percentage rate) displayed on Raydium are extrapolations of the pool and farm yield based on the daily (by default) or weekly or monthly performance. The provided APRs serve as examples only, and it's important to note that previous performance does not ensure future profits. Raydium displays 3 methods for APR estimation on its CLMM pools, please read this [article](https://docs.raydium.io/raydium/liquidity-providers/providing-concentrated-liquidity-clmm/estimated-apr-calculations#overall-pool-estimated-apr) to understand the way each method works. Where's the yield coming from?[](#wheres-the-yield-coming-from) APR displayed on pools: The yield displayed on pools comes from the maker fees (fees paid for swaps going through the pool). - And reward emissions for CLMM pools. APR displayed on ecosystem farms: Include both maker fees and the farms' emissions. Can I withdraw my liquidity at any time?[](#can-i-withdraw-my-liquidity-at-any-time) Yes, you can redeem liquidity tokens for a proportional share of the pool at any time. For standard AMM pools: If you staked your LP tokens in a farm, you'll need to unstake them first. [](#constant-product-pools) Constant Product pools ------------------------------------------------------- What's the benefit of providing liquidity on Raydium traditional AMM pools?[](#whats-the-benefit-of-providing-liquidity-on-raydium-traditional-amm-pools) Liquidity providers earn transaction fees from swaps within the pool. Additionally, the Raydium AMM market makes on the Open Book order book, with earnings from maker volume also returned to liquidity providers in the relevant pool. When you add liquidity to a pool you will receive Liquidity Provider tokens (LP tokens) which represent your proportional share of the pooled assets. For example, if a user deposited $RAY and $USDC into a pool, you would receive RAY-USDC LP tokens. Every time a user swaps within the pool between $RAY and $USDC, a 0.25% fee is taken. 0.22% of that trade goes back to the LP pool. 0.03% of that goes to RAY staking. * Previously, if there were 100 LP tokens representing 100 USDC and 100 RAY, each token would be worth 1 USDC & 1 RAY. * If one user trades 10 USDC for 10 RAY, and another traded 10 RAY for 10 USDC, then there would now be 100.022 USDC and 100.022 RAY. * This means each LP token would be worth 1.00022 USDC and 1.00022 RAY now when it is now withdrawn. Additionally, if there is a farm for the tokens you're LP-ing, you will be able to earn additional tokens. If you are unfamiliar with the concept of impermanent loss, [reviewing this article](https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22) for a basic understanding is highly recommended. What are LP tokens?[](#what-are-lp-tokens) Liquidity Provider (LP) tokens represent a proportional share of a liquidity pool. For instance, if you contribute to the SOL-RAY pool, you will receive SOL-RAY liquidity pool tokens (LP tokens). If you have deposited liquidity, you can see these tokens in your wallet. What are ecosystem farms?[](#what-are-ecosystem-farms) Ecosystem farms are Raydium's new permissionless farms for traditional AMM pools. They further the decentralization of liquidity on Solana by enabling any project team or user to create a farm and bootstrap liquidity by offering reward emissions on any pool! How can I check how many days left of emission there are?[](#how-can-i-check-how-many-days-left-of-emission-there-are) On the farm page, place your cursor on the token symbol under pending rewards to display the reward period. The reward can be extended by the farm owner. However, it can not be shortened. I can't find my LP tokens in farm[](#i-cant-find-my-lp-tokens-in-farm) Your LP tokens are under the 'standard' tab under my positions on the portfolio page. If you staked LP tokens before the release of Raydium V2 in March 2022, access the V1 farm page by clicking 'Raydium V1' at the bottom of the navigation bar. If you can't find them, contact the Raydium [discord](https://discord.com/invite/6EvFwvCfpx) or [telegram](https://t.me/raydiumprotocol) for 24/7 support! Are my LP tokens staked in farms still earning fees?[](#are-my-lp-tokens-staked-in-farms-still-earning-fees) Yes! the maker fees are directly compounded in the value of the LP tokens. [](#clmm-pools) CLMM pools ------------------------------- What's the benefit of providing liquidity on Raydium CLMM pools?[](#whats-the-benefit-of-providing-liquidity-on-raydium-clmm-pools) [CLMMs](https://raydium.medium.com/introducing-permissionless-concentrated-pools-farms-bf0a716bcdbd) - Concentrated Liquidity Market Makers - are designed for advanced liquidity provision on DEXs. While the past iterations of Raydium's liquidity pools work on the constant product model with liquidity provided along an X\*Y=K price curve, assets were reserved for all prices on the interval \[0;∞\] resulting in the majority of the liquidity never being used to earn fees. CLMMs allow LPs to concentrate their liquidity on custom price ranges providing them the opportunity to leverage or provide more liquidity at desired prices. Solving the inactive liquidity problem, CLMM provides the best capital efficiency while increasing the liquidity depth around the actual price translating to lower slippage on swaps. **Allowing liquidity providers to deposit liquidity in a chosen range, CLMM pools increase both the yield and the IL risk.** Moreover, giving liquidity providers more granularity while providing liquidity allows LPs to adopt different risk profiles depending on the directional exposure one wants to take on token pairs. How to farm emissions on CLMM pools?[](#how-to-farm-emissions-on-clmm-pools) No additional action is needed! If there is an active farm on the CLMM pool, the rewards are distributed alongside the maker fees. Where are my LP tokens?[](#where-are-my-lp-tokens) For CLMM pools you won't receive LP tokens per se. Instead, you'll get a position NFT that represents your position in the pool (liquidity and price range). If it is burned or otherwise lost, the associated liquidity cannot be withdrawn or retrieved. It is possible to send or trade a pool position NFTs. However, if sold any associated liquidity is also sold and will no longer be held by the original owner. When closing a position and withdrawing liquidity, the network fees for the NFT mint will be reimbursed. [](#more) More ------------------- Why did my transaction fail?[](#why-did-my-transaction-fail) **Insufficient SOL:** SOL is required to pay network fees (gas), it's recommended to keep at least 0.05 SOL in your wallet to ensure smooth transactions. **Slippage Tolerance:** Transactions will fail if the price of the underlying pool moves past your Slippage Tolerance. Try increasing your slippage tolerance on the Swap page. **Approving Transactions:** If you see the “Making Transaction” notification in the lower left**\-**hand corner of your screen, you will need to approve the transaction in your SPL wallet. Your question is not answered in this FAQ?[](#your-question-is-not-answered-in-this-faq) No worries, you can join the Raydium [discord](https://discord.com/invite/6EvFwvCfpx) or [telegram](https://t.me/raydiumprotocol) for 24/7 support! Community managers will be more than happy to help answer questions. [PreviousFarms](/raydium/liquidity-providers/liquidity-pools/raydium-farms) [NextCreating a CLMM Pool and Farm](/raydium/pool-creation/creating-a-clmm-pool-and-farm) Last updated 7 months ago --- # Pool creation fees | CLMM poolsCPMM poolsStandard AMM pools There is no protocol fee for creating a CLMM pool. However, some Solana network and third-party fees apply: 1) Creation of a new Tick Array: 0.072 SOL 2) Creation of a protocol position: 0.00245688 SOL 3) Creation of an account to store personal position\*: 0.00284664 SOL 4) Creation of the pool info 0.01163712 and vaults 0.00203928 SOL 5) Creation and funding of the observation account: 0.03209256 SOL 6) Creation of the NFT position (ATA)\*: 0.00203928 SOL 7) Minting of the NFT and associated metadata: 0.00561672 SOL 8) Metaplex protocol fee: 0.01 SOL. This amount may vary please refer to [Metaplex documentation](https://docs.metaplex.com/resources/protocol-fees) . 9) SOL network fee, and priority fee: <0,000007 SOL The average total is 0.1 SOL, this amount may however vary depending on the number of tick arrays initiated by the initial LP range. The following fees apply when creating CPMM pools: 1) Solana Network fees: Creating the pool accounts and signing the transaction amounts for 0.002 SOL + (priority fees set by the user) 2) Creating the LP token account (ATA)\*: 0.00203928 SOL 3) [Protocol Fee](/raydium/protocol/protocol-fees) : 0.15 SOL is collected for CP-Swap (CPMM) pools during pool creation to deter pool spamming and ensure protocol sustainability. CP-Swap (CPMM) pool creation fees are collected by: DNXgeM9EiiaAbaWvwjHj9fQQLAX5ZsfHyvmYUNRAdNC8 Fees are controlled by the protocol multisig, and reserved for protocol infrastructure costs. For more information on fees related to farm creation, please refer to [Creating an Ecosystem Farm](/raydium/updates/archive/creating-an-openbook-amm-pool/creating-an-ecosystem-farm) . The following fees apply when creating OpenBook Markets and Standard AMM pools: 1) The cost to create an OpenBook Market ranges from 0.285 SOL and 2.78 SOL depending on the parameters set during market creation. These fees cover Rent and account initialization and are not charged by OpenBook. 2) Solana Network fees: Creating the pool accounts and signing the transaction amounts for 0.002 SOL + (priority fees set by the user) 3) Creating the LP token account (ATA)\*: 0.00203928 SOL 3) [Protocol Fee](/raydium/protocol/protocol-fees) : 0.15 SOL is collected for Openbook-integrated pools (AMM V4) during pool creation to deter pool spamming and ensure protocol sustainability. Openbook-integrated (AMM V4) pool creation fees are collected by: 7YttLkHDoNj9wyDur5pM1ejNaAvT9X4eqaYcHQqtj2G5 Fees are controlled by the protocol multisig, and reserved for protocol infrastructure costs. For more information on fees related to farm creation, please refer to [Creating an Ecosystem Farm](/raydium/updates/archive/creating-an-openbook-amm-pool/creating-an-ecosystem-farm) . NB: Standard AMM pool **creation** is deprecated from the UI, if you create a constant product pool from Raydium.io UI, the fees applied are the ones outlined in the CPMM tab. Note that it is impossible to close a pool once created. None of the fees mentioned above are refundable, except for those marked with \*. [PreviousBurn & Earn](/raydium/pool-creation/burn-and-earn) [NextPool creation FAQ](/raydium/pool-creation-faq) Last updated 5 days ago --- # Intro on Concentrated Liquidity | ### [](#what-is-a-clmm) **What is a CLMM?** **Concentrated Liquidity Market Maker (CLMM)** pools allow liquidity providers to select a specific price range at which liquidity is active for trades within a pool. This is in contrast to constant product Automated Market Maker (AMM) pools, where all liquidity is spread out on a price curve from 0 to ∞. For LPs, CLMM design enables capital to be deployed with higher efficiency and earn increased yield from trading fees. For traders, CLMMs improve liquidity depth around the current price which translates to better prices and lower price impact on swaps. While CLMMs come with the benefits of higher capital efficiency, [impermanent loss](https://www.gemini.com/cryptopedia/decentralized-finance-impermanent-loss-defi) is magnified by the design, so a **full understanding the implications of impermanent loss and concentrated liquidity is critical!** The design for CLMMs means capital can be more efficiently allocated towards market making within a price range. However, users should be aware that actively monitoring positions and market fluctuations is critical to mitigating the potential for increased impermanent loss. ### [](#how-do-liquidity-price-ranges-work) **How do liquidity price ranges work?** In CLMM pools, users are able to select a specific price range in which to provide liquidity. LPs earn fees in proportion to their share of the liquidity at the current price. As such, LPs have a strong incentive to actively manage positions to ensure the current price of a pool is actively trading within their selected price range. **If price moves out of the selected price range**, a position will no longer actively trade or earn fees and the LP may experience significant [impermanent loss](https://www.gemini.com/cryptopedia/decentralized-finance-impermanent-loss-defi) . In a standard AMM pool, if the price of a base token rises it means that users are trading the quote token for the base token. As such, the pool and LPs now have more of the quote token and less of the base token. CLMMs work in the same manner, however this is accelerated within the selected price range. For example, if the price trades below the position's min price, the position will then be comprised of 100% base token. If price trades above the max price, the position will effectively sell the base token and then be 100% comprised of the quote token. Continue to the next page to learn more about providing liquidity in concentrated pools! [PreviousProviding Concentrated Liquidity (CLMM)](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm) [NextEstimated APR Calculations](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm/estimated-apr-calculations) Last updated 8 months ago --- # RAY Buybacks | A small trading fee is taken for every swap in a pool on Raydium. Depending on the specific fee of a given pool, this fee is split and goes to incentivizing liquidity providers, RAY buybacks and to the treasury. In summary, 12% of all trading fees go to buying back RAY regardless of a given pool's fee tier. **Standard AMM (OpenBook) pools**: For every swap in a standard AMM pool, a fee of 25bps is taken on the trade. From that, 22bps goes to LPs in the pool and 3 bps goes to RAY buybacks. **Concentrated liquidity (CLMM) pools**: The trading fee for each CLMM pool is set to one of four fee tiers; 100bps, 25bps, 5bps, or 1bp. Liquidity providers earn 84% of the trading fee for every swap in the pool, while 12% of fees are allocated to RAY buybacks and the final 4% to the treasury. **CP-Swap (CPMM) pools:** Similar to CLMM pools, liquidity providers earn 84% of the trading fee for every swap in the pool, while 12% of fees are allocated to RAY buybacks and the final 4% to treasury. Trading fees that are allocated to buybacks are automatically claimed when the value reaches $10 and transferred to intermediary wallets to programmatically buy RAY. Fees collected are transferred to the following addresses and used to buy RAY: Standard AMM (OpenBook, AMMv4) pools: PNLCQcVCD26aC7ZWgRyr5ptfaR7bBrWdTFgRWwu2tvF Concentrated Liquidity (CLMM) pools: projjosVCPQH49d5em7VYS7fJZzaqKixqKtus7yk416 CP-Swap (CPMM) pools: ProCXqRcXJjoUd1RNoo28bSizAA6EEqt9wURZYPDc5u **Bought back RAY is then transferred to DdHDoz94o2WJmD9myRobHCwtx1bESpHTd4SSPe6VEZaz** USDC fees for treasury: CLMM pools; FundHfY8oo8J9KYGyfXFFuQCHe7Z1VBNmsj84eMcdYs4 CP-Swap pools: FUNDduJTA7XcckKHKfAoEnnhuSud2JUCUZv6opWEjrBU A comprehensive Raydium Dashboard with additional data on buybacks can be found at: [https://analytics.topledger.xyz/raydium/public/dashboards/dmOdxtVTiAMZQL6A2OqgA5pgZXKnBfcJyxEAYmBk?p\_Date%20Type=Day](https://analytics.topledger.xyz/raydium/public/dashboards/dmOdxtVTiAMZQL6A2OqgA5pgZXKnBfcJyxEAYmBk?p_Date%20Type=Day) [PreviousRAY Token](/raydium/ray_token/the-ray-token) [NextRAY Staking](/raydium/ray_token/stake-ray) Last updated 2 months ago --- # Providing Constant Product liquidity | [PreviousPosition creation cost (CLMM)](/raydium/liquidity-providers/providing-concentrated-liquidity-clmm/position-creation-cost-clmm) [NextFarms](/raydium/liquidity-providers/liquidity-pools/raydium-farms) Last updated 7 months ago Raydium's liquidity pools allow anyone to provide liquidity by adding their assets to a pool. ### [](#how-to-add-liquidity-to-a-pool) **How to add liquidity to a pool:** 1. Select ‘**Liquidity**’ on the navigation menu. 2. After connecting a wallet, either input a token mint/pool address/ticker in the search bar or browse the pool list, then click '**Deposit**' on the desired pool. 2\. Select the tokens you wish to add to the liquidity pool. You must add liquidity to the pool in the form of two tokens at a 1:1 ratio according to USD value. Enter the amount of the first coin you wish to add, the second coin will adjust to match a 1:1 ratio. Then click 'Supply'. You will then need to approve the transaction in your wallet. You should see a confirmation for the transaction. You should now be able to view your LP tokens in your wallet balance. You have now successfully added to Raydium's liquidity pool. If the pool you selected has a [farm](/raydium/liquidity-providers/liquidity-pools/raydium-farms) you'd like to deposit in you can click 'Stake'. ### [](#how-to-manage-your-liquidity) How to manage your liquidity If you wish to reclaim your tokens or increase your position, navigate to the 'Portfolio' page then click 'standard' under my position. You can now easily select the desired action and confirm the transactions. ### [](#liquidity-pool-explanation) **Liquidity pool explanation:** When you add to a pool you will receive Liquidity Provider tokens (LP tokens). For example, if a user deposited $RAY and $USDC into a pool, you would receive RAY-USDC RLP tokens. These tokens represent a proportional share of the pooled assets, allowing a user to reclaim their funds at any point. Every time a user swaps between $RAY and $USDC, a 0.25% fee is taken on the trade. 0.22% of that trade goes back to the LP pool. 0.03% of that goes to buy back RAY. * Previously, if there were 100 RLP tokens representing 100 USDC and 100 RAY, each token would be worth 1 USDC & 1 RAY. * If one user trades 10 USDC for 10 RAY, and another traded 10 RAY for 10 USDC, then there would now be 100.022 USDC and 100.022 RAY. * This means each LP token would be worth 1.00022 USDC and 1.00022 RAY now when it is now withdrawn. If you are unfamiliar with the concept of impermanent loss, [reviewing this article](https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22) for a basic understanding is highly recommended. ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FeDfla4tcyI5cZVtoLhgG%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252014.06.53.png%3Falt%3Dmedia%26token%3D4472fd14-3a09-48ab-a6aa-4b93991dee0c&width=768&dpr=4&quality=100&sign=ae9ff0ec&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FEPHHf5sl7XsAQnfM29pF%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252014.07.44.png%3Falt%3Dmedia%26token%3Dd3d73fd2-6b7c-4a30-8237-14fa9599a990&width=768&dpr=4&quality=100&sign=22ea147b&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FPyBua7Smz0oDm89tEbLQ%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252014.09.03.png%3Falt%3Dmedia%26token%3D0ae590a9-2dcd-44f0-83c7-e5d3ba9ff450&width=768&dpr=4&quality=100&sign=e7a823ec&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FuAqIVNx343L39I7l4onA%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252014.09.06.png%3Falt%3Dmedia%26token%3D826d2d39-1eaa-4779-8f3e-e1f62bc0b762&width=768&dpr=4&quality=100&sign=e4c32a1d&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FgQVnOe6FmFXGZtMiOCbP%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252014.19.04.png%3Falt%3Dmedia%26token%3D9ad83f08-ac5a-405a-84f6-fbd9f53c2c49&width=768&dpr=4&quality=100&sign=c4bfe0f6&sv=2) --- # Burn & Earn | [PreviousCreating an Ecosystem Farm](/raydium/pool-creation/creating-a-constant-product-pool/creating-an-ecosystem-farm) [NextPool creation fees](/raydium/pool-creation/pool-creation-fees) Last updated 2 months ago At this time, Burn & Earn only supports Raydium's newest CPMM (CP-Swap) and does not support the Hybrid AMM (ammV4). Burn & Earn is an optional feature. For concentrated liquidity pools, this tool is only recommended for full-range positions. Once the LP token is burned, the liquidity provider cannot withdraw or manage his position to rebalance the position in range. [](#lock-liquidity-permanently) Lock liquidity permanently --------------------------------------------------------------- Technically, the NFT and LP tokens representing your principal position are locked, not burned. To lock liquidity permanently for a position, follow the steps below: 1) [Create a Constant Product Pool](https://docs.raydium.io/raydium/pool-creation/creating-a-constant-product-pool) or [Concentrated liquidity pool](/raydium/pool-creation/creating-a-clmm-pool-and-farm) with a full-range position. 2) Navigate to the Burn & Earn interface by clicking 'Create' on the [liquidity page](https://raydium.io/liquidity-pools/) . 3) Carefully select the position you'd like to lock. 4) Verify the position details including the pool selected, and type the confirmation sentence. Please pay attention to the position details (NFT address, Position size), once the LP token is locked there is no way to retrieve the liquidity deposited in the position. 5) Click 'Confirm, lock the liquidity permanently'. You will receive the following NFT (Raydium Fee Key), representing the right to claim yield from trading fees. [](#claiming-fees-and-rewards) Claiming fees and rewards ------------------------------------------------------------- The locked position will be accessible on the [portfolio page](https://raydium.io/portfolio/) similar to a standard position. [](#seeing-of-locked-asset) Seeing % of locked asset --------------------------------------------------------- The liquidity page will now display the % of burnt liquidity on pools. Data for the locked liquidity is available to users and third parties on the following API link: [https://api-v3.raydium.io/docs/#/POOLS/get\_pools\_info\_list](https://api-v3.raydium.io/docs/#/POOLS/get_pools_info_list) Copy "burnPercent': # Raydium APIs are public and can be indexed by any third-party. Raydium is not responsible for third-party platforms integrating and accurately showing this information. Raydium Fee Key ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FFa2armQrlqGDdSud7NeI%252FBurn.gif%3Falt%3Dmedia%26token%3Da1ea6930-839a-4c9b-b569-0429d8b54baa&width=768&dpr=4&quality=100&sign=30c21e6c&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FuWnW0yQJlJvLmBHrQGHV%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-09-04%2520a%25CC%2580%252014.00.13.png%3Falt%3Dmedia%26token%3D3b946dd3-2b33-4aa5-a0ab-e2563d3f0eee&width=768&dpr=4&quality=100&sign=66be044a&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252Fa38LiAcy9EeNobQDEXGt%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-09-04%2520a%25CC%2580%252014.07.31.png%3Falt%3Dmedia%26token%3Ddfec1cf6-ffc6-40ce-9cab-b05474274202&width=768&dpr=4&quality=100&sign=601a5a52&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252F2oSRZUmsxMpB69Tm7z7b%252Funnamed.png%3Falt%3Dmedia%26token%3D3f7a03f1-38fc-4e19-bc5a-3bd1964ef951&width=768&dpr=4&quality=100&sign=d29eb9e&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FHOUyEoysaFJ16dl3Bavx%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-09-04%2520a%25CC%2580%252014.12.53.png%3Falt%3Dmedia%26token%3D27583f53-e033-4551-9450-4fac6fde46c8&width=768&dpr=4&quality=100&sign=97bfa180&sv=2) --- # Swap FAQ | What is a swap?[](#what-is-a-swap) A swap is an exchange of a token for another. Raydium swaps are performed by its smart contracts deployed on Solana. They are executed against the depositors' liquidity. Hence, they don't require any intermediary, unlike trades on custodian exchanges. The exchange rate is calculated following predefined mathematical formulas available on [Git Hub](https://github.com/raydium-io/raydium-docs/tree/master/dev-resources) and accounting for the available tokens in the pools. Liquidity[](#liquidity) Raydium's liquidity comes from its own liquidity pools. Raydium routing engine can through several pools perform a swap to find the best execution and limit slippage. Token listing[](#token-listing) Raydium is a decentralized protocol. The token listing on Raydium is fully permissionless. That means that any project or team can create a pool and list its token. Raydium recommends being particularly mindful of the contract address before swapping. Fees[](#fees) When you swap in a Raydium liquidity pool, the fees charged range from 1% to 0.01% depending on the pool you are swapping through. Those fees are distributed following this repartition: AMM pools * 88% is redeposited into the liquidity pool and acts as a reward for liquidity providers. * 12% is used to buy back the RAY token CLMM pool * 84% is redeposited into the liquidity pool and acts as a reward for liquidity providers. * 12% is used to buy back the RAY token * 4% goes to the protocol treasury Network fee: A nominal amount of SOL is also required to process Solana network fees on each trade. Most transactions cost between 0.0001 — 0.001 SOL. **What is price impact?**[](#what-is-price-impact) Price impact is the difference between the current market price and the expected price for a trade. Price impact is primarily determined by the size of your trade relative to the amount of liquidity in the pool. As the number of tokens you buy from the pool increases, the price of the token increases as well. This unfavorable change in price is called price impact. If you are swapping in a pool with very low liquidity, you may receive a very poor price for your swap. If you see a high price impact when swapping, try trading a smaller amount or swapping in a pool with higher liquidity. Slippage tolerance[](#slippage-tolerance) Slippage is the difference between the expected price of a swap and its execution price. Raydium allows users to set their slippage tolerance determining the maximum difference between the expected and execution price. If the slippage exceeds the user's choice, the swap won't be executed. Setting a high slippage tolerance may result in an unfavorable swap. Why did my transaction fail?[](#why-did-my-transaction-fail) **Insufficient SOL:** SOL is required to pay network fees (gas), it's recommended to keep at least 0.05 SOL in your wallet to ensure smooth transactions. **Slippage Tolerance:** Transactions will fail if the price of the underlying pool moves past your Slippage Tolerance. Try increasing your slippage tolerance on the Swap page. **Approving Transactions:** If you see the “Making Transaction” notification in the lower left**\-**hand corner of your screen, you will need to approve the transaction in your SPL wallet. Can I swap on mobile?[](#can-i-swap-on-mobile) Yes! You'll need to use the built-in browser or your [SPL mobile wallet](https://docs.raydium.io/raydium/trading-on-serum/spl-wallets) . Versioned Transactions[](#versioned-transactions) Versioned Transactions are a new transaction format that allows for additional functionality, including advanced swap routing. Ensure that your wallet supports this format to opt-in. If your wallet supports versioned transactions but you are still facing errors and you're using a ledger, you may have to update your Solana app on [Ledger Live](https://support.ledger.com/hc/en-us/articles/4404382258961-Install-uninstall-and-update-apps?docs=true) . Don't forget to re-enable blind signature after the update. Wrapped Sol[](#wrapped-sol) There are rare occurrences where the swap and/or cleanup of your transaction don't go through. You may end up with some wrapped Sol. No worries! Wrapped Sol is a version of Sol used by the smart contracts on-chain and is redeemable for Sol 1:1. Go to [https://raydium.io/swap](https://raydium.io/swap) , the interface will automatically detect the wrapped Sol and offer to swap them for Sol. Are tokens on Raydium wrapped?[](#are-tokens-on-raydium-wrapped) Some tokens on Raydium are wrapped. For example, wBTC, wETH are wrapped by Wormhole using the Portal bridge. Portal offers a [tool](https://www.portalbridge.com/#/transfer) to bridge ERC20 tokens directly from MetaMask. Some other tokens may also be wrapped assets coming from other bridges. It's highly suggested to research a bridge before bridging assets or swapping for wrapped assets. If you have any doubt about how a specific token is wrapped, please confirm on [Discord](https://discord.com/invite/6EvFwvCfpx) or [Telegram](https://t.me/raydiumprotocol) . Other assets are SPL (Solana native) tokens. Your question is not answered in this FAQ?[](#your-question-is-not-answered-in-this-faq) No worries, you can join the Raydium [Discord](https://discord.com/invite/6EvFwvCfpx) or [Telegram](https://t.me/raydiumprotocol) for 24/7 support! Raydium's community managers will be more than happy to help you. [PreviousSwapping](/raydium/traders/swapping) [NextBlinks and Referrals](/raydium/traders/blinks-and-referrals) Last updated 7 months ago --- # Pool creation FAQ | [](#constant-product-pools) Constant Product pools ------------------------------------------------------- Can I lock my LP tokens?[](#can-i-lock-my-lp-tokens) Raydium does not currently provide a native solution to lock LP tokens. Liquidity providers who want to permanently lock liquidity in a pool may opt to burn the LP tokens or the associated token account. Be mindful, by doing either of these actions you won't be able to retrieve the liquidity deposited in the pool. Raydium is not responsible for any loss related to burning LP tokens. How are AMM token vaults credited when new pools are created?[](#how-are-amm-token-vaults-credited-when-new-pools-are-created) When a new pool is created, a small fraction of the initial liquidity (10lpdecimals10^{lpdecimals}10lpdecimals) is credited to the asset vaults, so that the initialized pool liquidity is: liquidityinit\=liquidity−10lpdecimalsliquidity\_{init} = liquidity - 10^{lpdecimals}liquidityinit​\=liquidity−10lpdecimals ### [](#ecosystem-farms) Ecosystem Farms What are ecosystem farms?[](#what-are-ecosystem-farms) They are permissionless farms. They further the decentralization of liquidity on Solana by enabling any project team or user to create a farm and bootstrap liquidity by offering reward emissions on any pool! Here's the [how-to-guide](https://docs.raydium.io/raydium/pool-creation/creating-a-standard-amm-pool/creating-an-ecosystem-farm) on farm creation. Can I withdraw rewards before the end of the emission period?[](#can-i-withdraw-rewards-before-the-end-of-the-emission-period) **Rewards allocated** to farms are **final** and **cannot be withdrawn** once the farm is created Can I extend the duration my farm?[](#can-i-extend-the-duration-my-farm) You can add additional rewards to a farm 72 hours prior to the end of the farming period. Adding rewards means that the emissions rate (rewards per day) will remain the same but the period will be extended. ### [](#standard-amm-pool-limited-to-cli-creation) Standard AMM Pool (limited to CLI creation) Why do I need an OpenBook market ID? why is it 3-4SOL?[](#why-do-i-need-an-openbook-market-id-why-is-it-3-4sol) OpenBook market IDs allow Raydium to market make with idle liquidity at a later stage - when your pool has bootstrapped enough liquidity - on the OpenBook CLOB. The 3-4 SOL fees are **not** paid to either Raydium or Openbook but are consumed during the market creation process to initialize accounts. Hence, these fees can not be refunded if you wrongly set up your parameters. We recommend that you be extremely careful during this process. Refer to the how-to guide and reach out on [discord](https://discord.com/invite/6EvFwvCfpx) if you have any doubts. [](#errors) Errors ----------------------- I can't see my pool[](#i-cant-see-my-pool) It can take a few minutes for your pool to display on the UI after creation. If you created your pool on a timer, you can check its status on the swap interface: inputting the base and quote tokens will display a countdown in place of the swap button. - don't hesitate to share that countdown with your community. Tip: You can quickly show created pools by ticking "show created" at the top of the list. Pool already created error[](#pool-already-created-error) A pool already exists for this token pair. No need to create a new pool, you can [provide liquidity](https://docs.raydium.io/raydium/liquidity-providers/liquidity-pools) to the existing one. Token verify error / Freeze authority enables[](#token-verify-error-freeze-authority-enables) This error means that your token has [freeze authority](https://spl.solana.com/token#freezing-accounts) enabled. You can either disable it programmatically or use a no-code spl manager like [Squads](https://app.squads.so/) . Other errors / your question is not answered in this FAQ.[](#other-errors-your-question-is-not-answered-in-this-faq) No worries, you can join the Raydium [discord](https://discord.com/invite/6EvFwvCfpx) or [telegram](https://t.me/raydiumprotocol) for 24/7 support! Raydium's community managers will be more than happy to help you. [PreviousPool creation fees](/raydium/pool-creation/pool-creation-fees) [NextRAY Token](/raydium/ray_token/the-ray-token) Last updated 7 months ago --- # Swapping | [PreviousFAQ](/raydium/getting-started/faq) [NextSwap FAQ](/raydium/traders/swapping/trade-and-swap) Last updated 7 months ago Swapping tokens on Raydium is similar to other platforms, just faster and cheaper. 😉 **How to Swap** 1. Navigate to Swap using the navigation menu at the top of the app, then connect [your wallet](https://docs.raydium.io/raydium/trading-on-serum/spl-wallets) . 2. Next, select from the drop-down the tokens you want to swap or paste the token mint address. For this example, we'll be swapping **From** SOL **To** RAY. 3\. Enter the amount of tokens you want to swap or receive. Finally, click Swap! 4\. Shortly after the transaction is confirmed you should be able to see your new balance, although this can sometimes take a few seconds to refresh. You have now done your first swap on Raydium. Now let's get swapping! Pay close attention to Price Impact and remember to check 'Minimum Received' when executing large swaps or when swapping in a low liquidity pool. **Minimum Received** is the least amount of tokens a user will receive on a trade. **Price Impact** is the difference between the market price and the estimated execution price based on the size of the trade. **Slippage Tolerance** is the maximum difference between a user's estimated price and execution price. You can access this parameter both by clicking on the slippage icon on the top right corner of the swap interface and from the settings panel. * * * If you see the **TimeOut** error, it means that the transaction hasn't reached the chain. To improve your chances of landing a transaction, you can increase your priority fees on the top right corner of your screen. However, be careful not to overspend on priority fees, they are non-deterministic and do not guarantee bloc inclusion. ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252F2k0ackAY52ZA1tWNOLpg%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252012.27.58.png%3Falt%3Dmedia%26token%3D2793d07b-904d-4dc6-8b98-7340ab3dbfab&width=768&dpr=4&quality=100&sign=65e51a05&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FrDMececzkbvLBYT35fNm%252Fselecttoken.gif%3Falt%3Dmedia%26token%3D69736710-cf2c-4e5d-806d-de5396e892eb&width=768&dpr=4&quality=100&sign=932d6c46&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FOkH5iBmTuc6ZUSbUnRb6%252Fexact%2520out.gif%3Falt%3Dmedia%26token%3D31ba6207-a2e5-41c6-8746-3ba6cf5fb0a8&width=768&dpr=4&quality=100&sign=f25a5a7e&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FrnIaqw9Wxwbhg95Ovv6F%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252012.56.39.png%3Falt%3Dmedia%26token%3Da5d9f8d9-74df-41e8-9464-2bf9272e650a&width=768&dpr=4&quality=100&sign=580b6b9e&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FBebAl3fZxpjiUPqkLf2x%252Fslippage.gif%3Falt%3Dmedia%26token%3D46a570eb-7cec-4f47-ab30-4af3407a63ad&width=768&dpr=4&quality=100&sign=ac6ce4e2&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252F3ETuvDH6essZxRbl6LfO%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252013.21.24.png%3Falt%3Dmedia%26token%3Dcf7da120-1372-472a-a2bc-434fb71b163a&width=768&dpr=4&quality=100&sign=aa6469b7&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FQdOMDIJW8NykIIm6AQPD%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-06-03%2520a%25CC%2580%252013.36.23.png%3Falt%3Dmedia%26token%3Da1a54fae-95c3-42ab-b8e9-fb8ac4c28ec0&width=768&dpr=4&quality=100&sign=89832d76&sv=2) --- # The Raydium Protocol | [_View this article_](https://raydium.medium.com/the-raydium-protocol-9809464e0105) _as originally published on Medium_ **An on-chain order book AMM powering the evolution of DeFi** In less than a year, Decentralized Finance (DeFi) has grown from a buzz word to an entire ecosystem that is setting new standards for personal financial autonomy and trust. DeFi embodies everything that decentralization and cryptocurrency is about. It allows everyone to access tools that have traditionally been the domain of large banks, corporations, venture funds and trading firms, without sacrificing autonomy. Ethereum brought decentralized trading, lending, and yield earning to anyone with an internet connection. Furthermore, it did that while ensuring transparency, interoperability, and immutability through the blockchain. However, the current state of DeFi is far from perfect. ### [](#legacy-blockchains-are-not-ready-for-defi) Legacy Blockchains are not Ready for DeFi While DeFi holds enormous opportunity, it is very much limited by outdated blockchains. * **💸 DeFi transactions are expensive** In a short time, we have seen gas fees jump to a level that completely wipes out potential earnings. Slow transactions exacerbate this as users bid up the price of gas, with failed transactions multiplying losses. As interacting with DeFi becomes prohibitively expensive, we are once again seeing common users left behind. * **🧩 Market fragmentation** The nature of automated market makers (AMMs) on Ethereum means that liquidity is fragmented, and liquidity pools on one protocol are walled off from those on others. Without any central order book to aggregate across pools, competition by AMMs for liquidity is intense and users see no benefit from liquidity held on other platforms. This will also be true for shard-based blockchains, like eth2 and Polkadot. * **🧮 Features are limited** Many trading features considered standard on centralized exchanges, like limit orders, are difficult to implement efficiently on Ethereum DEXs due to slow transaction speeds and prohibitively high gas fees. ### [](#the-vision-for-a-new-industry-standard) **💡** The Vision for a New Industry Standard In the DeFi summer of 2020, Serum launched a decentralized exchange with an on-chain order book. This order book was built on Solana, a high speed blockchain with extremely low transaction costs. This new paradigm presented a massive opportunity to solve the biggest issues in DeFi, by building a fast, efficient AMM that could leverage existing order book flow as well as supply the liquidity in its own pools to the rest of the ecosystem. The Solana ecosystem has pivoted to support OpenBook, a community led on-chain order-book, the opportunity for a hybrid AMM that shares pool liquidity to an order-book remains. Raydium aims to be the solution for the issues faced with AMMs on Ethereum. By building on Solana, which features faster and cheaper transactions, users will be able to trade on AMMs without being left out of the game due to ridiculously high fees. Raydium solves the liquidity issue by utilizing a central order book. With this in mind, Raydium was born. ### [](#the-raydium-protocol-an-ecosystem-sustaining-amm) **🧬** The Raydium Protocol: **An Ecosystem Sustaining AMM** Unlike other AMM platforms, Raydium provides on-chain liquidity to a central limit order book, meaning that Raydium’s users and liquidity pools have access to the order flow and liquidity of the OpenBook ecosystem, and vice versa. All of this is supercharged by building on Solana, an incredibly fast and efficient blockchain. Raydium currently uses constant function K = Y\*X. This equation has the special property that it is stateless and given any two tokens, without any information about their relative prices or value, it can provide “infinite” liquidity to traders. Raydium utilizes this equation and prices orders on the orderbook according to the Fibonacci sequence to provide up to 20 orders at a variety of prices with spreads as small as 20bps between them. This is an optimized solution to fit the exchange instructions onto a single Solana transaction. In the future, it’s expected that other liquidity providing models will be employed to take advantage of oracles and increased liquidity usage. Additionally, liquidity providers will be able to generate rewards from trading fees for contributing. Key pools will be incentivized with RAY tokens as farming rewards. Projects that want to reward users for providing liquidity can also add additional reward tokens. When new projects launch, they can utilize Raydium to create a new trading market and provide immediate liquidity to it. This way projects can get up and running and give traders a chance to effortlessly buy in. ### [](#evolution-is-imminent) **🐛** Evolution is Imminent As Raydium progresses as a foundation for Solana liquidity, it aims to partner with other DeFi and AMM communities and provide support to build out their products on Solana. This will bring both additional liquidity and faster, more efficient DeFi protocols to the ecosystem. Raydium offers an avenue for evolution, where projects and individuals can swiftly enter the Solana universe to leverage its distinct advantages in speed and efficiency. Faster transactions, significantly lower fees, and ecosystem-wide liquidity are essential if the people, projects, and protocols of DeFi are to evolve. We hope to see you on the other side. [PreviousAcceleraytor](/raydium/ray_token/acceleraytor) [NextProtocol Fees](/raydium/protocol/protocol-fees) Last updated 5 months ago --- # RAY Staking | [PreviousRAY Buybacks](/raydium/ray_token/ray-buybacks) [NextAcceleraytor](/raydium/ray_token/acceleraytor) Last updated 5 months ago If you're holding RAY tokens, staking is an easy way to earn additional RAY. **How to stake:** 1. To stake, first navigate to the 'Staking' tab in the Raydium app. 2\. Enter the amount of tokens you wish to stake, then click 'Stake' and then approve the transaction. 3\. You should now see the balance of your staked tokens, as well as your pending rewards. If you want to unstake, simply click the '-' button. That's it! You're now staking on Raydium! ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FNd0iqgMIq5F9iMz3itRD%252FScreen%2520Shot%25202022-10-01%2520at%252016.14.08.png%3Falt%3Dmedia%26token%3D308d1c19-6609-4b53-8605-9dabb43d4f84&width=768&dpr=4&quality=100&sign=1ed2b635&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FZKC9msA6OM4bYsmNTN58%252FScreen%2520Shot%25202022-10-01%2520at%252016.15.47.png%3Falt%3Dmedia%26token%3Df096fb48-61b4-4f86-9321-16f836a734c8&width=768&dpr=4&quality=100&sign=677b0248&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FRTHvnkwMFvcb3R20Uztp%252FScreen%2520Shot%25202022-10-01%2520at%252016.17.23.png%3Falt%3Dmedia%26token%3D83ff0c87-2723-4ee5-ba6d-abe2cf05eacf&width=768&dpr=4&quality=100&sign=b61053bd&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-legacy-files%2Fo%2Fassets%252F-MT-qzD26DX_h6l_vXaA%252F-MUldFEu00Nz12hIcPkn%252F-MUlgewdiVSaicNQsF7s%252Fimage.png%3Falt%3Dmedia%26token%3D65b4b175-d093-4e73-8ea2-51e12a905ed5&width=768&dpr=4&quality=100&sign=29c4c7a2&sv=2) --- # Buying and selling digital assets | [PreviousSPL Wallet](/raydium/getting-started/spl-wallets) [NextHow-to guides](/raydium/getting-started/how-to-guides) Last updated 5 months ago As mentioned in the [SPL Wallet guide](/raydium/getting-started/spl-wallets) , performing any action on the network like interacting with on-chain smart contracts like Raydium ones requires your SPL wallet to be topped up with SOL. The on-ramping and off-ramping can be performed on CEX, directly on the wallet offering the option, or directly on Raydium.io. This service is provided by [Moonpay](www.moonpay.com) , please refer to their documentation and support for additional information. ### [](#buying-digital-assets-on-raydium.io) Buying digital assets on Raydium.io To buy digital assets on Raydium, navigate to the swap page and click the $ button on the top-right of the swap interface. How-to-buy with Moonpay: [https://support.moonpay.com/customers/docs/how-to-buy-cryptocurrency-with-moonpay](https://support.moonpay.com/customers/docs/how-to-buy-cryptocurrency-with-moonpay) ### [](#selling-digital-assets) Selling digital assets To sell digital assets on Raydium, connect your wallet in the top right corner, then click on your wallet, and finally click 'off-ramping with Moonpay'. How-to-sell with Moonpay: [https://support.moonpay.com/customers/docs/how-can-i-sell-cryptocurrency-using-moonpay](https://support.moonpay.com/customers/docs/how-can-i-sell-cryptocurrency-using-moonpay) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252F2NvwlHBF4IDmA39jv7uG%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-07-30%2520a%25CC%2580%252012.08.09.png%3Falt%3Dmedia%26token%3D334324e4-7120-4cb2-b699-81943e9eaa4c&width=768&dpr=4&quality=100&sign=f1ef2982&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F-MT-qzD26DX_h6l_vXaA-887967055%252Fuploads%252FofV4fBoA1f11OHsRbBXF%252FCapture%2520d%25E2%2580%2599e%25CC%2581cran%25202024-07-30%2520a%25CC%2580%252012.17.15.png%3Falt%3Dmedia%26token%3D88d8d049-b900-461e-a144-254f1a6e5f35&width=768&dpr=4&quality=100&sign=881fbb6b&sv=2) --- # FAQ | [](#questions-about-raydium) **Questions about** Raydium ------------------------------------------------------------- ### [](#what-is-raydium-and-what-makes-it-different) **What is Raydium and what makes it different?** Raydium is an automated market maker (AMM) platform built on Solana where users can swap, trade and provide liquidity to earn yield on digital assets. However, unlike other AMM platforms, Raydium's AMM provides on-chain liquidity to OpenBook's central limit order book, meaning that Raydium’s users and liquidity pools have access to the order flow and liquidity of the entire OpenBook ecosystem, and vice versa. Raydium’s Best Price Swaps feature determines whether swapping within a liquidity pool or through the OpenBook order book will provide the best price for users. Not only can you trade and swap on Raydium, but there are a number of ways you can earn additional tokens while farming liquidity pools and staking. Raydium’s AcceleRaytor sets out to drive the growth of the Solana Ecosystem, serving as a launchpad for innovative projects to raise capital and drive initial liquidity. Learn how to participate in an AccleRaytor IDO [here](https://raydium.gitbook.io/raydium/acceleraytor/how-to-participate) . ### [](#why-build-on-solana) **Why build on Solana?** Solana stands out in DeFi with lightning-fast speeds of up to 65,000 transactions per second, 400ms block times, and less than $0.01 average transaction fees. Raydium believes in the Solana vision and that it will power the future of De-Fi. Read more [here](https://medium.com/solana-labs/why-solana-8c927d58ba06) . ### [](#what-is-an-amm-and-how-is-it-different-from-a-traditional-exchange) **What is an AMM and how is it different from a traditional exchange?** There are two major types of exchanges that allow users to trade cryptocurrency: traditional exchanges and [automated market maker](https://www.gemini.com/cryptopedia/amm-what-are-automated-market-makers) (AMM) exchanges. Traditional exchanges use an order book to match users looking to buy tokens with users looking to sell. On an AMM platform, instead of trading between buyers and sellers, users trade against a pool of tokens — a liquidity pool. However, unlike other AMM platforms, Raydium's AMM provides on-chain liquidity to OpenBook's central limit order book, meaning that Raydium’s users and liquidity pools have access to the order flow and liquidity of the entire OpenBook ecosystem, and vice versa. ### [](#can-i-yield-farm-and-stake-on-raydium) **Can I yield farm and stake on Raydium?** Yes, learn more about [yield farming](https://raydium.gitbook.io/raydium/yield-farming/raydium-farms) and [staking](https://raydium.gitbook.io/raydium/staking/stake-ray) on Raydium. ### [](#what-is-acceleraytor-and-how-do-i-participate) **What is AcceleRaytor and how do I participate?** AcceleRaytor is an initiative by Raydium to spearhead the growth of the Solana Ecosystem. It serves as a launchpad for the latest projects to raise capital and drive initial liquidity in a decentralized and interoperable manner while enabling both project and Raydium communities to participate in carefully curated and vetted token offerings. You can read more about how to participate in AcceleRaytor [here](https://raydium.gitbook.io/raydium/acceleraytor/how-to-participate) . Follow us to stay up to date on new AcceleRaytor announcements and rules on [Discord](https://discord.com/invite/6EvFwvCfpx) , [Telegram](https://t.me/raydiumprotocol) , [Twitter](https://twitter.com/RaydiumProtocol) , or [Medium](https://raydium.medium.com/) . If you're interested in launching a project on AcceleRaytor, please fill out [this form](https://forms.gle/VKo7kUHfveyDoEUz8) ! ### [](#what-are-raydium-farms-and-how-do-i-participate) **What are Raydium Farms and how do I participate?** Raydium farms are pools that allow liquidity providers to generate RAY tokens in addition to the trading fees contributed to the pool. Follow this [link](https://raydium.gitbook.io/raydium/yield-farming/raydium-farms) for complete instructions on how to participate. ### [](#what-are-raydium-fusion-pools-and-how-do-i-participate) **What are Raydium Fusion Pools and how do I participate?** Fusion pools are liquidity pools that go beyond RAY-incentivized farming pools and allow liquidity providers to earn tokens from projects they support in addition to the trading fees contributed to the pool. Fusion pools enable projects to bootstrap liquidity for their token on Raydium and OpenBook. Some pools also offer Dual Yield, where users can earn RAY in addition to project tokens. Follow this [link](https://raydium.medium.com/introducing-fusion-pools-and-dual-yield-ebf1197d77c4) for complete instructions on how to participate. ### [](#how-can-a-token-get-listed-on-raydium) **How can a token get listed on Raydium?** Anyone can create a liquidity pool on Raydium for a token pair. Projects or users can leverage Raydium’s AMM and drive liquidity by creating a Permissionless liquidity pool. ### [](#are-tokens-on-raydium-wrapped) **Are tokens on Raydium wrapped?** Some tokens on Raydium are wrapped. For example, BTC and ETH are wrapped using the Wormhole bridge. As the ecosystem expands more bridges will likely integrate with Solana. Other tokens on Raydium are SPL native tokens. It's highly suggested to research a bridge before bridging assets. ### [](#what-wallets-can-i-use-with-raydium) **What wallets can I use with Raydium?** To connect to Raydium, you'll need an SPL wallet. Raydium a number of SPL wallets, including Ledger, Phantom, and Solflare. Raydium will continue to integrate new wallets as they are developed. ### [](#can-i-use-raydium-on-my-phone) **Can I use Raydium on my phone?** You can access Raydium from your mobile browser by connecting your wallet. The Raydium team is in the process of rolling out a more mobile-friendly version of the platform. ### [](#is-ray-a-governance-token) **Is RAY a governance token?** Governance is a key component of Raydium’s mission and a governance method is in development. ### [](#how-do-i-work-with-raydium) **How do I work with Raydium?** Please complete this [form](https://docs.google.com/forms/d/e/1FAIpQLSd1G8TulpQjhseecFeiCQ9mld6bdt3ruvZn1glZkUoNAJdw3w/viewform) to apply for a Fusion Pool or AcceleRator IDO. ### [](#how-can-i-get-in-touch) **How can I get in touch?** You can get support on [Discord](https://discord.com/invite/6EvFwvCfpx) or [Telegram](https://t.me/raydiumprotocol) . Join the global community! [](#questions-about-trading) Questions about Trading --------------------------------------------------------- ### [](#what-does-your-sol-balance-is-low-mean) **What does "Your SOL balance is low" mean?** SOL is required to pay network (gas) fees. Fees are very low on Solana and you may be able make a number of transactions with a low balance, however it is recommended to keep at least 0.05 SOL in your wallet for gas. ### [](#what-fees-do-i-pay-when-i-trade-or-swap-tokens-on-raydium) **What fees do I pay when I trade or swap tokens on Raydium?** Swap fee: Every time a user swaps between a pool, a 0.25% fee is taken on the trade. 0.22% of that trade goes back to the LP pool as fees earned and 0.03% of that goes to buying back RAY. Network fee: A nominal amount of SOL is also required to pay Solana network fees on each trade. Most trades cost between 0.0001 — 0.001 SOL. ### [](#how-does-the-amm-work-with-the-openbook-order-book) **How does the AMM work with the** OpenBook **Order Book?** The key differentiator in Raydium’s AMM is that liquidity on Raydium also creates a market on OpenBook that is tradable on any OpenBook DEX GUI. Because Raydium’s LPs take orders directly on the OpenBook central limit order book, anyone trading on OpenBook has access to that liquidity. This is different from almost every other AMM protocol where liquidity is siloed off from other trading platforms. ### [](#what-is-price-impact) **What is price impact?** Price impact is the difference between the current market price and the expected price for a trade. Price impact is primarily determined by the size of your trade relative to the amount of liquidity in the pool. As the number of tokens you buy from the pool increases, the price of the token increases as well. This unfavorable change in price is called price impact. If you are swapping in a pool with very low liquidity, you may receive a very poor price for your swap. If you see high price impact when swapping, try trading a smaller amount or swapping in a pool with higher liquidity. ### [](#why-did-my-transaction-fail) **Why did my transaction fail?** **Insufficient SOL:** SOL is required to pay network fees (gas), it's recommended to keep at least 0.05 SOL in your wallet to ensure smooth transactions. **Slippage Tolerance:** Transactions will fail if the price of the underlying pool moves past your Slippage Tolerance. Try increasing your slippage tolerance on the Swap page. **Approving Transactions:** If you see the “Making Transaction” notification in the lower left**\-**hand corner of your screen, you will need to approve the transaction in your SPL wallet. [](#questions-about-liquidity-and-pools) Questions about **Liquidity & Pools** ----------------------------------------------------------------------------------- ### [](#whats-the-benefit-of-providing-liquidity-on-raydium) **What's the benefit of providing liquidity on Raydium?** Liquidity providers earn transaction fees from swaps within the pool. Additionally, the Raydium AMM market makes on the OpenBook order book, with earnings from maker volume also returned to liquidity providers in the relevant pool. When you add liquidity to a pool you will receive Liquidity Provider tokens (LP tokens) which represent your proportional share of the pooled assets. For example, if a user deposited $RAY and $USDC into a pool, you would receive RAY-USDC LP tokens. Every time a user swaps within the pool between $RAY and $USDC, a 0.25% fee is taken. 0.22% of that trade goes back to the LP pool. 0.03% of that goes to RAY buybacks. * Previously, if there were 100 LP tokens representing 100 USDC and 100 RAY, each token would be worth 1 USDC & 1 RAY. * If one user trades 10 USDC for 10 RAY, and another traded 10 RAY for 10 USDC, then there would now be 100.022 USDC and 100.022 RAY. * This means each LP token would be worth 1.00022 USDC and 1.00022 RAY now when it is now withdrawn. Additionally, if there is a farm or Fusion pool for the tokens you're LP-ing, you will be able to earn additional tokens. If you are unfamiliar with the concept of impermanent loss, [reviewing this article](https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22) for a basic understanding is highly recommended. ### [](#which-curves-do-liquidity-pools-on-raydium-use) **Which curves do liquidity pools on Raydium use?** Raydium currently uses the constant function K = Y\*X. This equation has a special property that is stateless and given any two tokens, without any information about their relative prices or value, it can provide “infinite” liquidity to traders. Raydium utilizes this equation and prices orders on the OpenBook order book according to the Fibonacci sequence to provide up to 20 orders at a variety of prices with spreads as small as 25bps between them, which is optimized for Solana. ### [](#what-does-permissionless-pool-mean) **What does Permissionless Pool mean?** Permissionless pools allow anyone to create a liquidity pool on Raydium. Once a pool is created it can then immediately be traded on the Raydium swap interface. The pool AMM will also place orders on the OpenBook order book, allowing liquidity to be traded on the Raydium Trading page, or any other OpenBook DEX GUI. Read this detailed [explanation](https://raydium.gitbook.io/raydium/permissionless/creating-a-pool) for more details. ### [](#how-do-i-earn-yield-from-liquidity-provider-fees-on-raydium) **How do I earn yield from liquidity provider fees on Raydium?** Every time a user swaps within a Raydium liquidity pool, a 0.25% fee is taken on the trade. 0.22% of that trade goes back to the LP pool. 0.03% of that goes to RAY buybacks. Fees deposited into the LP pool increase the number of tokens that you get back when you withdraw liquidity. Therefore you don't need to "harvest" your earnings at any point. Additionally, the Raydium AMM market makes on the OpenBook order book, with earnings from maker volume also returned to liquidity providers in the relevant pool. ### [](#what-are-lp-tokens) **What are LP tokens?** Liquidity Provider (LP) tokens represent a proportional share of a liquidity pool. For instance, if you contribute to the SOL-RAY pool, you will receive SOL-RAY liquidity pool tokens (LP tokens). If you have deposited liquidity, you can see these tokens in your wallet. ### [](#can-i-withdraw-my-liquidity-anytime) **Can I withdraw my liquidity anytime?** Yes, you can redeem liquidity tokens for a proportional share of the pool at any time. ### [](#how-are-projected-earnings-and-apy-calculated) **How are projected earnings and APY calculated?** APY from fees is calculated by total fees collected by the pool in the last 24 hours and extrapolating that to a 365 day year then dividing by the total liquidity in the pool. [PreviousBest practices](/raydium/getting-started/best-practices) [NextSwapping](/raydium/traders/swapping) Last updated 7 months ago --- # Bug Bounty Program | Raydium's full bug bounty program with ImmuneFi can be found at the below link [https://immunefi.com/bounty/raydium/](https://immunefi.com/bounty/raydium/) The bug bounty program covers Raydium's open-source Concentrated Liquidity Market Maker (CLMM) smart contracts and is focused on preventing thefts and freezing of funds. UI bugs do not qualify for the bug bounty program. If you have information on vulnerabilities or bugs, please go through the official channels on the ImmuneFi program site: [https://immunefi.com/bounty/raydium/](https://immunefi.com/bounty/raydium/) [](#rewards) Rewards ------------------------- Rewards are distributed according to the impact of the vulnerability based on the [Immunefi Vulnerability Severity Classification System V2.2](https://immunefi.com/immunefi-vulnerability-severity-classification-system-v2-2/) . Smart Contracts 1. **Critical** USD 50,000 to USD 505,000 2. **High** USD 40,000 3. **Medium** USD 5,000 All bug reports must include a Proof of Concept (PoC) demonstrating how the vulnerability can be exploited to impact an asset-in-scope to be eligible for a reward. Critical and High severity bug reports should also include a suggestion for a fix. Explanations and statements are not accepted as PoC and code is required. Critical smart contract vulnerabilities are capped at 10% of economic damage, primarily taking into consideration funds at risk, but also PR and branding aspects, at the discretion of the team. However, there is a minimum reward of USD 50,000. The following vulnerabilities are not eligible for a reward: * For the CLMM program, vulnerabilities marked in the [Ottersec security review](https://drive.google.com/file/d/1d9SiGarziu9TgPKO_6sAG8odr2qBdMO0/view?usp=share_link) are not eligible for a reward. For the Hybrid AMM program, vulnerabilities marked in the [Kudelski security review](https://drive.google.com/file/d/1q_2NpwlQmEGfMXQ7w8l6U5XjT2AqOWlC/view?usp=sharing) , [Ottersec security review](https://drive.google.com/file/d/1hxFVIRgNEcCqr02yQMwTpHMQUM3LTt5g/view?usp=sharing) , and [MadShield security](https://drive.google.com/file/d/1GVDUrKziNJ9Ut8ewO7vCtqFem2MaVAjH/view) review are not eligible for a reward. * The CLMM contract emits trading fees and farming yield tokens to LPs. If tokens from the vault or fees were drained by an attacker, however, users would not be able to claim yield and transactions would fail. This is by design and not a vulnerability _Payouts are handled by Raydium directly and are denominated in USD. Payouts can be facilitated in RAY, SOL or USDC._ [](#programs-in-scope) Programs in Scope --------------------------------------------- View details, developer documentation, and testing environments for each program: [](#impacts-in-scope) Impacts in Scope ------------------------------------------- Only the following impacts are accepted within this bug bounty program. All other impacts are not considered in-scope, even if they affect something in the assets in scope tables. ### [](#critical) Critical * Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yield * Permanent freezing of funds * Vulnerabilities that could freeze user funds permanently or involve the draining or theft of funds without user transaction approval ### [](#high) High * Theft of unclaimed yield * Permanent freezing of unclaimed yield * Temporary freezing of funds for any amount of time * Vulnerabilities that could freeze user funds temporarily or intentionally alter the value of user funds ### [](#medium) Medium * Smart contract unable to operate due to lack of token funds * Block stuffing for profit * Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol) * Theft of gas * Unbounded gas consumption [](#out-of-scope-and-rules) Out of Scope & Rules ----------------------------------------------------- The following vulnerabilities are excluded from the rewards for this bug bounty program: * Attacks that the reporter has already exploited themselves, leading to damage * Attacks requiring access to leaked keys/credentials * Attacks requiring access to privileged addresses (governance, strategist) Smart Contracts and Blockchain * Incorrect data supplied by third party oracles * Not to exclude oracle manipulation/flash loan attacks * Basic economic governance attacks (e.g. 51% attack) * Lack of liquidity * Best practice critiques * Sybil attacks * Centralization risks The following activities are prohibited by this bug bounty program: * Any testing with mainnet or public testnet contracts; all testing should be done on private testnets * Any testing with pricing oracles or third party smart contracts * Attempting phishing or other social engineering attacks against our employees and/or customers * Any testing with third party systems and applications (e.g. browser extensions) as well as websites (e.g. SSO providers, advertising networks) * Any denial of service attacks * Automated testing of services that generates significant amounts of traffic * Public disclosure of an unpatched vulnerability in an embargoed bounty [PreviousAccess Controls](/raydium/protocol/security/access-controls) [NextCLMM Bug Bounty Details](/raydium/protocol/bug-bounty-program/clmm-bug-bounty-details) Last updated 3 months ago [![Logo](https://docs.raydium.io/raydium/~gitbook/icon?size=small&theme=light)CPMM (CP-Swap) Bug Bounty Details |](https://docs.raydium.io/raydium/protocol/bug-bounty-program/cpmm-cp-swap-bug-bounty-details) [![Logo](https://711343548-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/collections%2F-MT-qzD26DX_h6l_vXaA%2Ficon%2FfaxRqJE5pUOXeXMSzc2U%2FRaydium%20icon.png?alt=media&token=749a4e50-08e3-4e05-bd92-9e2902bf094b)Hybrid AMM Bug Bounty Details](https://docs.raydium.io/raydium/protocol/bug-bounty-program/hybrid-amm-bug-bounty-details) [![Logo](https://711343548-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/collections%2F-MT-qzD26DX_h6l_vXaA%2Ficon%2FfaxRqJE5pUOXeXMSzc2U%2FRaydium%20icon.png?alt=media&token=749a4e50-08e3-4e05-bd92-9e2902bf094b)CLMM Bug Bounty Details](https://docs.raydium.io/raydium/protocol/bug-bounty-program/clmm-bug-bounty-details) --- # Security | Raydium's AMM and staking programs have been reviewed by engineers and security teams from across Solana. * Initial 2021 audit of the order-book AMM by [Kudelski Security](https://kudelskisecurity.com/) can be found [here](https://github.com/raydium-io/raydium-docs/blob/master/audit/Kudelski%20Q2%202021/Raydium_Audit.pdf) . * Members of the [Neodyme](https://neodyme.io/) team have done extensive reviews on several programs via a bug bounty agreement. * [OtterSec](https://osec.io/) performed full audits in late 2022 and early 2023 on the below programs: * [Raydium concentrated liquidity (CLMM) program](https://github.com/raydium-io/raydium-docs/blob/master/audit/OtterSec%20Q3%202022/Raydium%20concentrated%20liquidity%20(CLMM)%20program.pdf) * [Raydium updated order-book AMM program](https://github.com/raydium-io/raydium-docs/blob/master/audit/OtterSec%20Q3%202022/Raydium%20updated%20order-book%20AMM%20program.pdf) * [Raydium staking program](https://github.com/raydium-io/raydium-docs/blob/master/audit/OtterSec%20Q3%202022/Raydium%20staking%20program.pdf) * [MadShield](https://t.co/AEy8QELhpy) performed full audits on the below programs: * [Raydium updated orderbook AMM program & OpenBook migration](https://github.com/raydium-io/raydium-docs/blob/master/audit/MadSheild%20Q2%202023/Raydium%20updated%20orderbook%20AMM%20program%20%26%20OpenBook%20migration.pdf) (Q2 2023) * [Raydium revamped constant product AMM (CPMM) program](https://github.com/raydium-io/raydium-docs/blob/master/audit/MadShield%20Q1%202024/raydium-cp-swap-v-1.0.0.pdf) (Q1 2024) If you're interested in helping contribute to the ongoing security of Raydium, make sure to visit the [Bug Bounty page](/raydium/protocol/bug-bounty-program) for full details on the program launched in partnership with ImmuneFi. [PreviousAPIs](/raydium/protocol/developers/apis) [NextAccess Controls](/raydium/protocol/security/access-controls) Last updated 8 months ago --- # Acceleraytor | [PreviousRAY Staking](/raydium/ray_token/stake-ray) [NextThe Raydium Protocol](/raydium/protocol/untitled-1) Last updated 5 months ago **AcceleRaytor** is an initiative by Raydium to spearhead the growth of the Solana Ecosystem. It serves as a launchpad for the latest projects to raise capital and drive initial liquidity in a decentralized and interoperable manner, while enabling both project and Raydium communities to participate in carefully curated and vetted token offerings. If you're interested in launching a project on AcceleRaytor, please fill out [this form](https://forms.gle/VKo7kUHfveyDoEUz8) and we'll get back to you if the project is a good fit! **How to participate:** AcceleRaytor launches consist of 'pools' where users can contribute funds in order to receive an allocation of project tokens. 1. Visit the ['AcceleRaytor' page](https://raydium.io/acceleraytor/) on Raydium. Here you can view pools and their status. 2\. You can click on a pool to view additional details. Make sure to make note of the requirements to join the pool to ensure you'll be able to participate. 3\. When the pool opens, to participate first make sure that you meet the requirements, check official announcements from the projects for full details. For a lottery model AcceleRaytor launch, you will see the number of 'Eligible Tickets' you have on the UI once the pool opens. You can then enter the number of tickets you'd like to deposit USDC for and enter in the lottery. You can choose to enter less than your max number of tickets, however tickets that you do not deposit USDC for will not be counted in the lottery. **NOTE:** You can only deposit USDC for tickets ONCE, you cannot add additional tickets later. Once you have deposited, you will be able to claim USDC amount you contributed for non-winning tickets shortly after pool closes, however you will need to wait until the specified time on the UI to claim any winning token allocations. Again, you will be able to claim back your full deposited amount for any tickets not selected to receive an allocation. 4\. In order to claim your tokens for any winning lottery tickets, return to the pool at the specified claim time. Then simply click 'Claim' and funds will be transferred to your wallet! That's it! You've now participated in an AcceleRaytor launch on Raydium! ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2Flh3.googleusercontent.com%2FGevFlqymjPK332cpvy2URQhWH66do7zQtfUYWthvE7IumwR6e-dTr7NMlbX6zDAs1f3gAh5ApavewB1CFLibVRhpWKel57LTlLUW1j7798vZ2sDuWwWD9xiu8ZH_xFRdHLRturF1p_U&width=768&dpr=4&quality=100&sign=e52ee8ad&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-legacy-files%2Fo%2Fassets%252F-MT-qzD26DX_h6l_vXaA%252F-MdGGWveZeM0TWL0XiqO%252F-MdGJ7zB6bEhYLCc4av4%252Fimage.png%3Falt%3Dmedia%26token%3D9aeb5073-d33c-4de9-8610-6ffe8c4646ba&width=768&dpr=4&quality=100&sign=35f8d550&sv=2) ![](https://docs.raydium.io/~gitbook/image?url=https%3A%2F%2F4071094211-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-legacy-files%2Fo%2Fassets%252F-MT-qzD26DX_h6l_vXaA%252F-MdGGWveZeM0TWL0XiqO%252F-MdGJ_sYGMcVd_TC8CUB%252Fimage.png%3Falt%3Dmedia%26token%3Dfea577df-4180-4bbb-88c9-801d1a82299d&width=768&dpr=4&quality=100&sign=127d1c6c&sv=2) --- # Access Controls | Raydium's programs are all owned by the BPF Upgradeable Loader, which allows an Upgrade Authority to upload updates and improvements when necessary. Raydium holds the following Upgrade Authorities for the respective programs which can be found below. The only role is OnlyOwner. Programs are fully upgradeable and labelled as such when searched on [Solscan](https://solscan.io/) , however all changes are reviewed by core team members before implementation. **All program Upgrade and Admin Authority is under a Squads multi-sig and can be viewed** [**here**](https://v3.squads.so/developers/programs/RVhaWTdGUGNjTnVFdmdIWk1DTXB3dzJGZW44b0xXQlNKemRnQ3NYM0Rqd20=) . Currently, Raydium does not employ a timelock program function for updates. Significant effort is made with review of changes and testing internally before updates are pushed live. In the case of larger updates Raydium has relied on experienced security whitehats for review via bug bounties. Future timelock mechanisms are likely to be implemented as code moves towards open sourcing to allow time for further community review and governance comes in to play. Description Address Liquidity Pool AMM `675kPX9MHTjS2zt1qfr1NYHuzeLXfQM9H24wFSUt1Mp8` Stable Swap AMM `5quBtoiQqxF9Jv6KYKctB59NT3gtJD2Y65kdnB1Uev3h` Concentrated Liquidity (CLMM) `CAMMCzo5YL8w4VFF8KVHrK22GGUsp5VTaW7grrKgrWqK` Staking `EhhTKczWMGQt46ynNeRX1WfeagwwJd7ufHvCDjRxjo5Q` Farm Staking `9KEPoZmtHUrBbhWN1v1KWLMkkvwY6WLtAVUCPRtRjP4z` Ecosystem Farms `FarmqiPv5eAj3j1GMdMCMUGXqPUvmquZtMy86QH6rzhG` **Upgrade Authority** `GThUX1Atko4tqhN2NaiTazWSeFWMuiUvfFnyJyUghFMJ` Description Address AMM Routing `routeUGWgWzqBWFcrCfv8tritsqukccJPu3q5GPP3xS` AcceleRaytor `9HzJyW1qZsEiSfMUf6L2jo3CcTKAyBmSyKdwQeYisHrC` **Upgrade Authority** `8aSRiwajnkCP3ZhWTqTGJBy82ELo3Rt1CoEk5Hyjiqiy` [PreviousSecurity](/raydium/protocol/security) [NextBug Bounty Program](/raydium/protocol/bug-bounty-program) Last updated 5 months ago ---