Raidium is Solana’s AMM King. Can you next corner the Perps market?

The decentralized Crypto Trading Engine Raydium has been bidding on Solana’s billion-dollar permanent market and is gaining traction rapidly.

Forwards into offering these hot derivative contracts a few weeks before Raidium – crypto traders are able to infer price fluctuations without holding real tokens, but already $100 million daily We are increasing the trading volume of.

Now it is Solana’s third most popular venue to trade the Purps behind Drift with Jupiter, the trading heavyweight of this ecosystem. Despite Raydium Perps’ eggplant sensibilities, growth occurs. The builder had not poured marketing capital into promoting trading tools that had not yet been officially launched.

“The Raydium brand is still packing punches,” said Infraray, a central contributor to the project.

The push cap caps Raidium’s advantage to the summit of Solana’s decentralized crypto trading landscape. The automated market maker (AMM) setup that allows anyone to spin up trading pools of any asset was a difference maker in Solana’s Memocoin era.

Still, most traders who use Raydium swapping rails will not visit their website. Instead, they access the service through trading aggregators that split orders across multiple venues. This means that Raydium’s activities will be potentially less and, crucially, its relationships with direct users and traders are weak.

In industry terminology, these traders are “takers” and carry out trade. Meanwhile, manufacturers provide liquidity, possibly by pouring their assets into Raydium’s AMMs.

“Raidium worked well on the manufacturer’s side,” Infra said, “But when you own a relationship with Taker, there is a greater network effect.”

Behind the scenes, Raydium’s PERPS trading is supported by Orderly Network, a trading project with roots outside the Solana ecosystem. Due to order, PERPS traders working on multiple blockchains can trade assets in a unified order book. This will provide smoother sailing for every order.

Orderly’s Raydium rollout has proven to be a huge boon. Solana’s PERPS traders are currently driving 25% of Orderly’s total volume.

“We trade in a volume of between $200 and $400 million per day,” the CEO said in dozens of projects offering orderly PERPS trading.

Instead of performing PERPS transactions through order, as many of Raydium’s more entrenched competitors do, promoting transactions through order saves protocol money and ensures transaction processing correctly You can do it. But it also has the unique cross-chain complexity that he said is still being solved.

Next stop: Full launch. In a few weeks, Raydium’s Perps service is ready for a proper debut and rocks the “Public Beta” training wheel. Once that’s the case, the team behind it plans to push marketing and outreach even stronger.

Even at a daily volume of $100 million, Raydium’s PERPS service is far from replacing Jupiter, the Solana Defi Ecosystem’s top-on-chain Perps service. The most famous swap agribator derivative exchange sees nearly $2 billion in daily volume. Drift, runner-up, sees twice the volume of the Raidium.

However, Infraray is confident that Raydium can cut down on each lead of each of its larger protocols. For one, the PERPS service offers trading on far more assets than either competitor. Orderly allows for a quick list of new contracts. This means that Raydium can move quickly, gain new markets and potentially gain corners.

He believes that the entire addressable market for Solana-based Perps will only grow.

“I think there’s more competition and innovation, but now Raydium has a seat at the table.”