Raydium BTC and DOGE Pools on Solana

This post was originally published here

$renBTC and $renDOGE trading is now live!

Michael Burgess

Jul 19 · 2 min read

We are excited to announce two official Raydium pools on Solana: renBTC-USDC, and renDOGE-USDC.

What sets Raydium apart from an AMM like Uniswap on Ethereum, is that Raydium leverages the central order book of the Serum decentralized exchange (DEX) to enable lightning-fast trades, shared liquidity, and new features for earning yield. So liquidity providers are not only earning trading fees from traders using the Raydium pools, but liquidity providers are also earning trading fees from traders using the Serum order books directly.

Get started as a Liquidity Provider on Raydium

1) Prepare a new Solana wallet if you have not already, and top it up with some $SOL for transaction fees.

2) Use RenBridge to bridge $BTC or $DOGE over to Solana.

3) Prepare an equal amount of $USDC on Solana. Users can acquire this through decentralized exchanges like Raydium. $renBTC and $renDOGE can also be traded into $USDC in the same Raydium pools if needed.

4) Deposit $renBTC or $renDOGE along with the $USDC into the Raydium pool:

biswap

Looking Forward

Moving forward we’ll continue working with Raydium to improve cross-chain liquidity for assets in the Solana DeFi ecosystem, along with exploring other areas of collaboration. Stay tuned for more!

Onwards and upwards,
Ren Team

Raydium is an automated market maker (AMM) built on the Solana blockchain which leverages the central order book of the Serum decentralized exchange (DEX) to enable lightning-fast trades, shared liquidity, and new features for earning yield.

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Ren is an open protocol that enables the movement of value between blockchains.

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