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Codename BONSAI!

Feb 24, 2021 · 3 min read

By Jimin Noh, and Medio Demarco

While Uniswap, SushiSwap and PancakeSwap are the leading Automated Market Makers (“AMMs”) at the moment, similar designs continue to proliferate across crypto. Raydium is one such AMM that recently launched on Solana. Similar to PancakeSwap on BSC, Raydium offers lower transaction fees and higher throughput relative to competing AMMs deployed on Ethereum currently. An aspect that makes it unique, is that it provides and sources liquidity to Serum‘s central limit orderbook (“CLOB”). Liquidity aggregation is certainly nothing new but the fact that Raydium, and other Serum-based DEXs, are starting from that point stands in contrast to how similar projects emerged on Ethereum, where liquidity aggregation came further down the road. We’ll explain why this is the case shortly.

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