Bridge the Gap: Cross-chain Assets come to Raydium
Raydium is partnering with Serum to provide yield for cross-chain assets on Solana
With Solana Summer shining new light on the growing ecosystem, Raydium has seen a whole new wave of users eager to participate. And while seasons may be changing, there’s no cooling down as Solana continues to radiate some serious heat. To build on this momentum, Raydium is cooperating with Serum to kick-off a yield farming initiative to further drive trading, bridged assets, and cross-chain liquidity on Solana.
Total value locked on Raydium is sitting at an all-time high of over $2 billion and liquidity is being shared to over 200 Serum markets. However, there’s still a huge opportunity to bring more assets to Raydium for users to trade, as well as for cross-chain users to experience the blazing speed and low gas fees of Solana for the first time.
Having just received a grant for over 4 million SRM (approx $30 million at current price) as part of Serum’s liquidity mining program, this is an ideal time for Raydium to kick things off with more trading pairs for bridged assets. Get ready for a roll out of new Fusion Pools with SRM rewards, as well as RAY on select pools!
Let’s check out key points of this next phase as Raydium prepares for a cross-chain future:
- Cross-chain asset trading pairs: Raydium will be launching a number of pools focused on assets previously unavailable for trading on Solana. Ethereum and ERC20 based assets will be first to arrive, creating even more trading opportunities for the Raydium community. Users from Ethereum and other chains will soon be able to experience the speed and low gas fees of Solana to trade their favorite tokens.
- Fusion Pools: Over the coming weeks, approximately 4 million SRM will be allocated to LP incentives for new Fusion Pools, with additional RAY rewards on select pairs. Users HODL-ing popular tokens on other chains will be able to bridge to Solana and LP to earn farming rewards while contributing to ecosystem-wide liquidity on Raydium. Reward incentives will rotate as new Fusion Pools are launched.
- Bridging the Gap: Raydium will be working with partner teams to enable cross-chain assets to arrive on Solana in a decentralized manner through the Wormhole bridge. To streamline the process for users, Raydium plans to integrate bridging capabilities directly in the site UI.
Have you been FOMO-ing over metaverse projects, dog tokens, and DeFi blue chips? Or just tired of the crazy gas fees and slow transactions when trading on Ethereum AMMs? Maybe you’re HODLing on other chains and want to LP and put your assets to work. Well, you’ll be able to trade and farm these assets and more soon on Raydium and Serum.
The first wave of Fusion Pools will launch November 9, 12:00 UTC:
On November 11, the second wave of pools will launch:
weSHIB — USDC
weAXS — USDC
weDYDX — USDC
Even more pools will be announced in the coming weeks, so stay tuned!
Raydium is stoked to bring more exciting assets to the community, expand the reach of Solana, and enable low-cost, light-speed trading to an ever-growing user base. Keep an eye on the Raydium Discord and follow on Twitter for updates!