Raydium has introduced the program AcceleRaytor, an IDO project for the Solana DEX. This is an effort to bootstrap the Solana ecosystem by assisting projects to boost their growth.
The Project
On April 9th, Raydium Automated Market Maker (AMM) announced the launch of AcceleRaytor, an initial digital offering launchpad for the Solana ecosystem. The launchpad is designed to help projects accelerate their growth by crowdsourcing capital and by driving awareness with a single, streamlined, end to end process. AcceleRaytor intends to help support projects so they can quickly gain initial liquidity in a completely decentralized and interoperable way. AcceleRaytor is designed so as to empower both Raydium and project communities to easily participate in the crowdfunding process.
Benefits of AcceleRaytor
AcceleRaytor will operate according to a two-pool model that rewards projects that utilize the program. The two-pool model will allow Raydium to provide access to the wider crypto community while also awarding RAY token holders. Participation in the RAY pool is dependent on having a minimum number of RAY tokens staked in the pool. Raydium intends to take snapshots of the pool 7 days before the opening of the pool and continue to take further snapshots at a number of intervals leading up to the IDO event. The first batch of AcceleRaytor projects will require users to stake 20 RAY for participation. Over the last 3-4 months the price of RAY has been somewhere between $6-12. At time of press the price is $10.
No matter which pool users are participating in token allocations will be aligned individually for each project. Allocations also work on a dual model. The first is the guaranteed proportional model where the allocated tokens are proportional to the funds contributed. The second is a simple first come, first serve.
Raydium is an AMM operating on the Solana blockchain that has a reputation for their lightning-fast Transactions Per Second times. Its access to an onchain liquidity pool through its use of a central order book allows Raydium to provide users with a seamless experience throughout their interactions.
Going Forward
Raydium promises to work hand in hand with each project which goes through the AcceleRaytor process. Raydium is also attempting to set itself apart by offering LP farming rewards for liquidity providers which activate immediately after the IDOs on Raydium. This allows participants to go immediately from token acquisition to trading or selling tokens for even more rewards.
The AcceleRaytor platform will not be the only option for projects seeking to launch an IDO on Solana. Solstarter is another platform seeking to offer similar services in the ecosystem. In any case, the Solana blockchain and its projects will be supported by members of the community and their platforms.
Source : solana.news
