Raydium 終極指南：它是什麼、它如何運作以及為什麼它受歡迎

在加密貨幣交易的動態世界中，去中心化交易所（DEX）已成為強大的鏈上交易平台。透過消除對中介機構的需求，DEX 有效地為使用者提供了更大的控制力和靈活性。在這些領先的 DEX 中，Raydium 是在 Solana 生態系統中受到關注的一個著名的 DEX。

Raydium is a decentralized exchange (DEX) on Solana that facilitates fast and permissionless trading. It serves as a hybrid exchange, allowing traders to interact directly with liquidity pools or trade against a centralized order book. This ensures there’s always a market for your trades, even for less popular tokens with limited liquidity.

Raydium 是 Solana 上的去中心化交易所 (DEX)，可促進快速且無需許可的交易。它充當混合交易所，允許交易者直接與流動性池互動或針對集中訂單簿進行交易。這可以確保您的交易始終有市場，即使對於流動性有限的不太受歡迎的代幣也是如此。

Key features of Raydium exchange

Raydium 交易所的主要特點

The Raydium exchange boasts several standout features that make it a popular choice among traders and DeFi natives alike.

Raydium 交易所擁有多項出色的功能，使其成為交易者和 DeFi 本地人的熱門選擇。

User-friendly interface: Raydium’s intuitive interface makes it easy for users to navigate the platform and conduct swaps, provide liquidity, and trade.

使用者友善的介面：Raydium 直覺的介面使用戶可以輕鬆瀏覽平台並進行互換、提供流動性和交易。

High-speed trading: One of Raydium’s most notable features is its lightning-fast trading speed. The platform uses the Solana blockchain’s high throughput and low latency to deliver near-instantaneous order execution. That makes the platform ideal for day traders and those who require rapid trade confirmations.

高速交易：Raydium 最顯著的特點之一是其閃電般的交易速度。該平台利用 Solana 區塊鏈的高吞吐量和低延遲來提供近乎即時的訂單執行。這使得該平台成為日間交易者和需要快速交易確認的人的理想選擇。

Wide range of trading pairs: Raydium offers a diverse selection of trading pairs, allowing you to trade a variety of cryptocurrencies. Whether you’re interested in popular Solana ecosystem projects like Pyth Network and Jito or exploring lesser-known altcoins, you’re likely to find suitable trading opportunities on Raydium.

豐富的交易對：Raydium提供豐富的交易對選擇，讓您可以交易多種加密貨幣。無論您是對 Pyth Network 和 Jito 等流行的 Solana 生態系統項目感興趣，還是探索鮮為人知的山寨幣，您都可能在 Raydium 上找到合適的交易機會。

Yield farming and staking: In addition to trading, Raydium also provides opportunities for passive gains through yield farming and staking. By contributing liquidity to liquidity pools or staking your tokens, you can earn rewards in the form of additional tokens or fees.

流動性挖礦和質押：除了交易之外，Raydium 還透過流動性挖礦和質押提供被動收益的機會。透過向流動性池貢獻流動性或質押您的代幣，您可以以額外代幣或費用的形式獲得獎勵。

One thing to note when you’re providing liquidity is the option to choose between ‘Concentrated’ and ‘Standard’. This represents the type of liquidity pool you want to participate in. Standard pools offer a wider range of trading pairs but may have lower returns due to the spread of liquidity across multiple assets. Conversely, Concentrated pools focus on a narrow range of trading pairs, allowing for higher returns but potentially exposing you to higher risk if the price of one asset fluctuates significantly. Ultimately, the choice between concentrated and standard pools depends on your personal risk appetite.

當您提供流動性時需要注意的一件事是可以在「集中」和「標準」之間進行選擇。這代表您想要參與的流動性池類型。相反，集中池專注於較小範圍的交易對，可以獲得更高的回報，但如果一項資產的價格大幅波動，您可能會面臨更高的風險。最終，集中池和標準池之間的選擇取決於您的個人風險偏好。

How does Raydium work? Understanding Raydium Exchange

Raydium 是如何運作的？了解 Raydium Exchange

At its core, Raydium is a DEX that enables lightning-fast trades, permissionless pool creation, and new features for earning yield. It functions as a hybrid exchange, meaning that traders can directly interact with liquidity pools or trade against a centralized order book. This mechanism ensures there’s always a market for your trades, even for less popular tokens with limited liquidity.

從本質上講，Raydium 是一個 DEX，可實現閃電般的快速交易、無需許可的礦池創建以及賺取收益的新功能。它充當混合交易所，這意味著交易者可以直接與流動性池互動或針對集中訂單簿進行交易。這種機制確保您的交易始終有市場，即使是流動性有限的不太受歡迎的代幣。

Interested in finding out more about Raydium and its core features? Read on for our breakdown of its key features.

有興趣了解有關 Raydium 及其核心功能的更多資訊嗎？請繼續閱讀我們對其主要功能的細分。

Orca vs Raydium: a brief look at Solana’s leading DEXs

Orca 與 Raydium：簡要了解 Solana 領先的 DEX

Both Orca and Raydium are prominent DEXs on Solana, offering unique features and benefits to DeFi enthusiasts. While both platforms essentially serve as marketplaces for trading crypto, their approaches differ.

Orca 和 Raydium 都是 Solana 上著名的 DEX，為 DeFi 愛好者提供獨特的功能和好處。雖然這兩個平臺本質上都是加密貨幣交易的市場，但它們的方法有所不同。

Orca is a more decentralized DEX, relying solely on its own liquidity pools for trading. This approach offers greater control and potentially lower fees but can limit liquidity for less popular tokens. Orca also boasts a user-friendly interface and a variety of features, including yield farming, token launchpads, and staking.

Orca 是一個更去中心化的 DEX，完全依靠自己的流動性池進行交易。這種方法提供了更大的控制權並可能降低費用，但可能會限制不太受歡迎的代幣的流動性。 Orca 還擁有用戶友好的介面和各種功能，包括流動性挖礦、代幣啟動板和質押。

Raydium previously used the Serum DEX protocol but has since shifted to a unique hybrid model. This change has allowed Raydium to offer a more flexible and efficient trading experience, while also maintaining its access to a deep liquidity pool. Raydium's features include yield farming, token launchpads, and a bi-directional routing engine for optimized trade execution.

Raydium 之前使用 Serum DEX 協議，但後來轉向獨特的混合模型。這項變更使 Raydium 能夠提供更靈活、更有效率的交易體驗，同時也保持了對深度流動性池的存取。 Raydium 的功能包括流動性挖礦、代幣啟動板和用於優化交易執行的雙向路由引擎。

Key differences when comparing Orca vs Raydium

比較 Orca 與 Raydium 時的主要差異

Choosing the right DEX

選擇正確的 DEX

The best choice between Orca and Raydium depends on individual preferences and trading strategies. The factors to consider include the following.

Orca 和 Raydium 之間的最佳選擇取決於個人喜好和交易策略。需要考慮的因素包括以下幾點。

Liquidity: Raydium’s access to a deeper liquidity pool can be advantageous for high-volume traders given its integrations with OpenBook.

流動性：鑑於 Raydium 與 OpenBook 的集成，它可以訪問更深的流動性池，這對於大交易量交易者來說是有利的。

Features: As both Orca and Raydium offer similar features to complement their swapping services, it’s key to consider the specific features that are important to you. That could include yield farming, token launchpads, or staking. It's also wise to consider the user experience as you interact with these features.

功能：由於 Orca 和 Raydium 都提供類似的功能來補充其交換服務，因此考慮對您來說重要的特定功能至關重要。這可能包括流動性挖礦、代幣啟動板或質押。在與這些功能互動時考慮使用者體驗也是明智之舉。

Performance: While your overall experience with each DEX may vary, traders will need to consider factors like trading speed, slippage, and gas fees when it comes to executing timely swaps on either DEX.

性能：雖然您對每個 DEX 的整體體驗可能有所不同，但交易者在任一 DEX 上執行及時掉期時都需要考慮交易速度、滑點和汽油費等因素。

Ultimately, both Orca and Raydium offer valuable services within the Solana ecosystem. By carefully considering your individual needs and preferences, you can select the DEX that best aligns with your trading goals.

最終，Orca 和 Raydium 都在 Solana 生態系統中提供有價值的服務。透過仔細考慮您的個人需求和偏好，您可以選擇最符合您交易目標的 DEX。