Raydium is an SPL token compliant with the Solana Network with a circulating supply of 90,655,642 RAY coins.
RAY is an automated market maker (AMM) and liquidity provider developed on the Solana blockchain for the Serum decentralized exchange (DEX). RAY has four primary use cases, liquidity incentivization, participation in AcceleRaytor, market making fee capture, and governance. Unlike other AMMs, RAY enables users to have on-chain liquidity to a central limit order book, providing users options to place Limit Orders, Market Orders, and more.
Suggested further reading:
Why Donate RAY?
Since RAY has appreciated significantly, donating RAY and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.
Don’t want your RAY stack to decrease? Repurchase the same amount of RAY afterward and still get the same tax benefits to offset some (or all) of your gains.