Financials

RAY Token

Trading Volume

Pool TVL

Pool Activity

Traders

12% of trading fees are collected to repurchase RAY.

In RAY

Raydium: Buyback Program

RAY on the balance sheet is exclusively from buybacks as they are earned through economic activities. 

RAY minted but not issued into circulating supply, such as unvested RAY, is equivalent to "authorized shares" in traditional finance. As a result, they are a non-balance sheet item and do not appear as an asset.

Raydium: Total Assets

Revenue is collected by each new AMM and CPMM pool created. There is currently a 0.15 SOL fee.


The Other category includes all non-Memecoin-related pools launched.

Raydium: Launch Revenue

Raydium: Gross Profit

Raydium collects Swap Revenue based on the pool type and pool fee:
- AMM: 12% of the total trading fees using Raydium's AMM program are collected and used for the RAY buyback.
- CPMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- CLMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.

Raydium: Swap Revenue

4% of trading fees from CLMM and CPMM pools are collected into the treasury as USDC.

Raydium: Treasury Fund

The F column indicates a linear forecast for the rest of the year.

There are two revenue sources under Net Revenue
- Swap Revenue
  - AMM: 0.03% of all trades using Raydium's AMM program is collected and used for the RAY buyback.
  - CPMM: 16% of the total trading fees on the pool is collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
  - CLMM: 16% of the total trading fees on the pool is collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- Launch Revenue
  - AMM: A 0.15 SOL fee is collected for each new pool to cover infrastructure costs.
  - CPMM: A 0.15 SOL fee is collected for each new pool to cover infrastructure costs.

Infrastructure Costs: A portion of the launch fees are earmarked to cover infrastructure costs. We currently track outflows from these launch wallets as expenses to infrastructure costs.

Fee Collection Adjustment is the difference between when revenue is accrued and the total amount collected in either RAY or USDC. This value can occur due to price volatility in the accrued asset or whether the liquidity is removed prior to the collection.

Expenses include:
- Team: Amount vested to the team
- Partnerships: Expenses from this token account
- Advisors: This is currently an unallocated amount
- Liquidity: Expenses from this token account
- Mining Reserve: Expenses from this token account
- Other: Any unidentified transfers from the treasury.





  

Raydium: Income Statement

Total Assets

Liquid Assets
- Raydium's buyback program and USDC treasury fund are accounted here under liquid assets.

Total Capital
- Tokens issued are the $ amount of RAY issued. 
- Token Rewards is the amount of RAY given to the Community and Seed portion (6% of total RAY supply)
- Currency Translation Adjustment refers to the $ difference when revenue is received versus the market value of those assets.
- Fee Collection Adjustment is the difference of when revenue is accrued and the total amount collected in either RAY or USDC.

Raydium: Balance Sheet

We book revenue when the trade is executed. However, fees are booked once Raydium collects the accrued fees, which have been swapped to USDC or RAY and sent to their respective treasury wallets.

As a result, there are two major reasons why revenue and fees/cash collected can be different:
- *Price Change of Accrued Fees*: Accrued fees are denominated in the pool's assets, so price changes in the pool's assets can cause fees collected to be either higher or lower than the revenue reported.
- *Backlog of Fee Collection*: Not all pools have their fees collected consistently; as a result, when Raydium sweeps all the pools, there can be a significant spike in fees collected. (This also has the effect of underreporting cash collected prior to the sweep).

Raydium: Swap Fee Collection

Raydium uses its accrued revenue to either buyback RAY or accumulate USDC in its treasury fund. The percentage breakdown is below:
- AMM: 0.03% of all trades using Raydium's AMM program are collected and used for the RAY buyback.
- CPMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- CLMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.

Raydium also collects launch fees on new AMM and CPMM pools. A portion of this amount is earmarked for infrastructure costs. Outflows from these wallets are categorized as expenses under "infrastructure costs".

Raydium: Cash Flow

RAY uses its accrued revenue to either buyback RAY or accumulate USDC in its treasury fund. The percentage breakdown is below:
- AMM: 12% of the total trading fees using Raydium's AMM program are collected and used for the RAY buyback.
- CPMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.
- CLMM: 16% of the total trading fees on the pool are collected as revenue. 12% of the fees are allocated to RAY buybacks, and the final 4% to the treasury.

Raydium also collects launch fees on new AMM and CPMM pools. A portion of this amount is earmarked for infrastructure costs.

Direct

Raydium: Cash Flow Statement

Based on the last 30 days.

Raydium: Daily Revenue from Swap Fees

Raydium: Daily Revenue from Launch Fees

Only included here are pools from the following trading pairs:
- SOL-USD
- Stablecoin Swaps
- LST Swaps
- Project Tokens

Excludes revenue from AI Agent and Memecoin trading pairs.

Raydium: Non-Memecoin Swap Revenue by Trading Fee

Pump.fun pools here only include pools migrated from pump.fun

All other memecoin and AI agent pools are grouped under the Non-Pumpfun Meme and AI Agent Pool categories.

The Majors category include the rest, which are SOL-USD, stablecoin swaps, LST swaps, and project token pools.

Layer 1

Layer 2

Finance

Sectors

Consumer

Chain Clusters

ETFS

Raydium: Financials

Raydium: Total Assets

Raydium: Gross Profit

Related News