Raydium (RAY) is a distinctive automated market maker (AMM) built on the Solana blockchain. Unlike traditional AMMs, Raydium integrates with a central limit order book, ensuring faster, cost-efficient trades and shared liquidity. This unique architecture allows it to tap into the broader OpenBook ecosystem, enhancing liquidity and user experience. The platform was conceived by a pseudonymous team including figures like AlphaRay and XRay, who, motivated by the challenges in DeFi in 2020, launched Raydium in partnership with Serum in February 2021. The native token, $RAY, plays a central role in the ecosystem, facilitating trades, incentivizing user engagement, and supporting the AcceleRaytor initiative for new project launches.