Raydium 终极指南：它是什么、它如何工作以及为什么它受欢迎

在加密货币交易的动态世界中，去中心化交易所（DEX）已成为强大的链上交易平台。通过消除对中介机构的需求，DEX 有效地为用户提供了更大的控制力和灵活性。在这些领先的 ​​DEX 中，Raydium 是在 Solana 生态系统中受到关注的一个著名的 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)，可促进快速且无需许可的交易。它充当混合交易所，允许交易者直接与流动性池交互或针对集中订单簿进行交易。这可以确保您的交易始终有市场，即使对于流动性有限的不太受欢迎的代币也是如此。

Key features of Raydium exchange

Raydium 交易所的主要特点

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

Raydium 交易所拥有多项出色的功能，使其成为交易者和 DeFi 本地人的热门选择。

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

用户友好的界面：Raydium 直观的界面使用户可以轻松浏览平台并进行互换、提供流动性和交易。

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 最显着的特点之一是其闪电般的交易速度。该平台利用 Solana 区块链的高吞吐量和低延迟来提供近乎即时的订单执行。这使得该平台成为日间交易者和需要快速交易确认的人的理想选择。

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.

丰富的交易对：Raydium提供丰富的交易对选择，让您可以交易多种加密货币。无论您是对 Pyth Network 和 Jito 等流行的 Solana 生态系统项目感兴趣，还是探索鲜为人知的山寨币，您都可能在 Raydium 上找到合适的交易机会。

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.

流动性挖矿和质押：除了交易之外，Raydium 还通过流动性挖矿和质押提供被动收益的机会。通过向流动性池贡献流动性或质押您的代币，您可以以额外代币或费用的形式获得奖励。

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.

当您提供流动性时需要注意的一件事是可以在“集中”和“标准”之间进行选择。这代表您想要参与的流动性池类型。标准池提供更广泛的交易对，但由于流动性分布在多种资产上，回报率可能较低。相反，集中池专注于较小范围的交易对，可以获得更高的回报，但如果一项资产的价格大幅波动，您可能会面临更高的风险。最终，集中池和标准池之间的选择取决于您的个人风险偏好。

How does Raydium work? Understanding Raydium Exchange

Raydium 是如何工作的？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.

从本质上讲，Raydium 是一个 DEX，可实现闪电般的快速交易、无需许可的矿池创建以及赚取收益的新功能。它充当混合交易所，这意味着交易者可以直接与流动性池交互或针对集中订单簿进行交易。这种机制确保您的交易始终有市场，即使是流动性有限的不太受欢迎的代币。

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

有兴趣了解有关 Raydium 及其核心功能的更多信息吗？请继续阅读我们对其主要功能的细分。

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

Orca 与 Raydium：简要了解 Solana 领先的 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，为 DeFi 爱好者提供独特的功能和好处。虽然这两个平台本质上都是加密货币交易的市场，但它们的方法有所不同。

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 是一个更加去中心化的 DEX，完全依靠自己的流动性池进行交易。这种方法提供了更大的控制权并可能降低费用，但可能会限制不太受欢迎的代币的流动性。 Orca 还拥有用户友好的界面和各种功能，包括流动性挖矿、代币启动板和质押。

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 协议，但后来转向独特的混合模型。这一变化使 Raydium 能够提供更灵活、更高效的交易体验，同时还保持了对深度流动性池的访问。 Raydium 的功能包括流动性挖矿、代币启动板和用于优化交易执行的双向路由引擎。

Key differences when comparing Orca vs Raydium

比较 Orca 与 Raydium 时的主要区别

Choosing the right DEX

选择正确的 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 之间的最佳选择取决于个人喜好和交易策略。需要考虑的因素包括以下几点。

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

流动性：鉴于 Raydium 与 OpenBook 的集成，它可以访问更深的流动性池，这对于大交易量交易者来说是有利的。

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：由于 Orca 和 Raydium 都提供类似的功能来补充其交换服务，因此考虑对您来说重要的特定功能至关重要。这可能包括流动性挖矿、代币启动板或质押。在与这些功能交互时考虑用户体验也是明智之举。

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：虽然您对每个 DEX 的整体体验可能有所不同，但交易者在任一 DEX 上执行及时掉期时都需要考虑交易速度、滑点和汽油费等因素。

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.

最终，Orca 和 Raydium 都在 Solana 生态系统中提供有价值的服务。通过仔细考虑您的个人需求和偏好，您可以选择最符合您交易目标的 DEX。