Raydium is an automated market maker (AMM) and decentralized exchange (DEX) built on Solana. Raydium users can swap in liquidity pools, trade using an order book, participate in liquidity mining, or stake RAY to participate in IDOs through the Raydium AcceleRaytor launchpad. Unlike other AMM DEXs where liquidity is siloed off from other platforms, Raydium leverages its pool liquidity to place orders on the central limit order book of the Serum DEX.