Deep Dive
1. V3 Beta Launch (8 July 2025)
Overview: Raydium’s V3 Beta merges AMM liquidity with OpenBook’s decentralized order book, enabling cross-venue liquidity aggregation.
The upgrade introduces a hybrid model combining AMM pools and limit orders, allowing market makers to set precise pricing. Smart order routing scans Serum-v2 forks and other liquidity sources to minimize slippage. Developers can now launch permissionless pools with customizable fees (0.01%–1%), reducing initial capital requirements by 85% for projects.
What this means: This is bullish for RAY because traders access 40% more liquidity across Solana DeFi, while projects bootstrap markets faster. Backward compatibility ensures existing LPs remain unaffected.
(Source)
2. LaunchLab Expansion (19 March 2025)
Overview: LaunchLab lets creators issue tokens via bonding curves, migrating liquidity to Raydium pools upon hitting threshold SOL deposits.
The no-code platform allows projects to launch tokens with 1.25% fees, split between creators and the community pool. Over 79% of tokens sold via bonding curves graduate to AMM pools, locking liquidity permanently.
What this means: This is neutral for RAY as it diversifies use cases but faces competition from Pump.fun. However, it strengthens Raydium’s role as Solana’s primary launchpad.
(Source)
3. Fee Structure Optimization (19 June 2025)
Overview: Raydium X v2 slashed swap fees by 30%, driving a 25% surge in DEX volume post-launch.
The update optimized AMM-aggregator algorithms, improving capital efficiency for high-frequency traders. It also integrated with FTX Japan, enabling JPY-denominated swaps and boosting volumes by 660%.
What this means: This is bullish for RAY because lower fees attract more traders, tightening RAY’s circulating supply via increased protocol revenue.
(Source)
Conclusion
Raydium’s 2025 upgrades focus on liquidity depth, launchpad utility, and fee competitiveness—key drivers for its role as Solana’s DeFi backbone. With V3’s hybrid model and LaunchLab’s traction, can RAY sustain its 29% quarterly price growth amid rising DEX rivalry?