#Ray coin, also known as Raydium (RAY), is a cryptocurrency token built on the Solana blockchain. It's used for governance, staking, and earning trading fees on the Raydium platform, a decentralized finance (DeFi) protocol that operates as an automated market maker (AMM). Here are some key details about RAY:
*Key Features:*
-# *Governance*:
#RAY token holders participate in decision-making processes, such as proposing and voting on protocol upgrades or changes.
- *Staking*: Users can stake
#RAM让EOSåꬔä¼å¤§ tokens to earn rewards, including trading fees or additional tokens.
- *Liquidity Provision*: RAY tokens incentivize liquidity providers to contribute to the platform's liquidity pools ¹.
*Market Performance:*
- *Current Price*: $2.67-$2.92
- *Market Capitalization*: $715.54 million-$779.92 million
- *Circulating Supply*: 267,482,955 RAY
- *Maximum Supply*: 555,000,000 RAY
*Use Cases:*
- *
#decentralized Exchange*: Raydium enables users to trade, swap, and provide liquidity directly on the blockchain.
- *Yield Farming*: Users can earn rewards by providing liquidity to selected pools.
- *Initial DEX Offerings (IDOs)*: Holding RAY tokens may grant users early access or eligibility to participate in token sales ¹ ² ³.
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