Memecoin activity has helped harden the Solana network and trading infrastructure for years.
Memecoins were a clear opportunity to help Solana and Raydium to his escape velocity in the tokenized equity space.
Over 300,000 users were introduced to tokenized stonks since we added support for anything markets.
Tokenized assets will win on Solana.
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After a large new $RAY staking account was created last week, over 48% of the total $RAY circulating supply is bought back or is staked.
Q3 by all metrics was a big quarter for Solana and HUGE quarter for @Raydium and tokenized asset growth.
Tokenize everything.
The emerging tokenized equity space is showing early signs of demand for 24/7 equity markets, with the majority of volume coming outside of US market hours.
This market structure favors AMMs and CLMMs that provide sticky onchain liquidity when traders need it.
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Raydium's protocol treasury is held onchain.
The protocol's balance sheet is composed of ~$70m in USDC and SOL, which is staked to Raydium's validator.
This chart doesn't include recent and unclaimed fees from Raydium's LaunchLab program, providing further diversification with revenue from tokenized equity trading.
A robust balance protects the protocol from relying on RAY for operations. Despite that, we run an extremely lean operation, with a long time horizon, and spend conservatively.
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Raydium publishes and maintains public, onchain cash flow statements for the protocol.
We want to make it as easy for users to verify how much revenue is generated, the revenue sources, and how revenue is used.
This is one of many ways you can verify Raydium's realized revenue and the % of cash flows allocated to buybacks each quarter.
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A portion of Raydium's revenue comes from trading fees, with the rest going to liquidity providers (LP Fees).
12% of all trading fees programmatically buy $RAY. If there are $100m in swap fees, Raydium collects $12m to buy back $RAY.
The buyback ratio is the amount of revenue used to buy $RAY divided by the operating cashflow. In Q2, 72.% of all protocol revenue went to $RAY buybacks.
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Raydium is the leading venue for tokenized stock trading on Solana
.@Backpack’s latest listing shows why companies are choosing Solana for distribution.
This is not the first time we have seen Stonklana assets with more volume than tradfi exchange.
Companies are reaching thousands of new shareholders through internet capital markets.
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This number will 10x higher in the next few months
Raydium capital markets
September Review: @Raydium
- $6m in protocol revenue
- $4m allocated to $RAY buybacks, bringing the total to $204m (87.55m RAY, 32% of supply)
- $10.8b in cumulative monthly volume
- $3b in tokenized asset volume
Raydium is powering tokenized assets on Solana
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Raydium's revenue from trading fees is shifting.
Tokenized assets made up 21% of Raydium's trading revenue in Q2.
While volumes have increased across the board for all asset classes in Q3, 46% of Raydium's trading revenue is now coming from tokenized assets, a ~16x increase.
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Raydium just reported its highest weekly revenue since July 2025 with 30-day trailing revenue at $5.5m
Had long taken the view that the Clarity Act was restrictive for builders.
Dynamic and fast policy guidelines better suites an industry that is always moving.
The SECs commentary on buybacks is a massive step forward for projects like Raydium that face zero unlocks and have actively been reducing circulating supply.
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Watching entire sub-ecosystems building their own flywheels within the larger Stonk eco flywheel
Bag working is back, baby, and it feels good to hold
Raydium launched as the first AMM on Solana in 2021 and has showed an unwavering commitment to the success of Solana and its ecosystem.
Solana is showing that it is a formidable ecosystem of traders, developers, and asset issuers. I believe we are just seeing what is possible with tokenized assets and that the Solana ecosystem is positioned to capitalize on this growth.
Raydium wins when Solana wins
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Trade all your favorite Stonks on Solana, powered by Raydium
Tokenized stocks are still a small part of global capital markets, but the direction is becoming clear.
More assets, more liquidity, and more market activity will move onchain.
Solana is emerging as a natural venue for that transition, and Raydium is already showing what the liquidity layer for those markets can look like.
We’re still early.
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We are exporting US capital markets to the world
$815,189 has been spent on $RAY buybacks in the last 7 days. 32% of circulating supply has been bought back, with $65M in SOL and USDC on our balance sheet.
Raydium has been at the center of every major onchain cycle on Solana, and continues to lead as new markets like tokenized stocks come onchain.
That staying power continues to accrue back to $RAY, one of the few truly holder-aligned tokens on Solana.
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