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MXC Forges Collaboration with Solana – Launching Liquidity Sharing Project Raydium on M-Day

Place/Date: - March 15th, 2021 at 11:52 am UTC · 4 min read
Contact: MXC Exchange, Source: MXC Exchange

MXC Forges Collaboration with Solana – Launching Liquidity Sharing Project Raydium on M-Day
Photo: MXC Exchange

MXC Exchange, one of the fastest growing crypto exchanges, is listing Solana-based project Raydium on its M-Day Program on Thursday (March 18), giving users the chance to win 4,500 Ray Tokens in the project, as the exchange continues to build a strong partnership with the Solana ecosystem.

Raydium is an exciting new decentralized finance (DeFi) project that delivers fast transactions, shared liquidity and ultra-low fees for users.

The project is based on the Solana blockchain, and uses the order flow of decentralized exchange (DEX) Serum, to help users get assets at the best prices, while using the Solana blockchain’s inbuilt liquidity sharing to quickly and easily move liquidity from its pools to other parts of the network.

Using the Solana network means Raydium users can enjoy fast and cheap transactions, at a fraction of the cost of the gas fees inherent with the Ethereum network.

Compared to Ethereum AMM’s the cost to swap, farm, harvest and unstake, Raydium costs less than 10 cents for the entire process (vs. costs of over $100 on ETH).

The Raydium listing follows MXC’s recently announced support for Solana’s USDC stablecoin (USDC-SPL), meaning MXC users have access to the cheapest and fastest options to use USDC. MXC is committed to supporting the Solana ecosystem, and will be adding more Solana pairings in the future.

By listing Raydium on MXC, the exchange is following its outstanding track record of listing some of the cryptocurrency world’s biggest projects before any other exchanges, demonstrating the exchange team’s skill at spotting blockchain’s ‘next big’ project.

Grow the Ecosystem

AlphaRay, the founder of Raydium, said:

“We are excited to partner with MXC to grow the Raydium and Solana ecosystem together. MXC’s strength in retail communities will greatly help Raydium to grow and bring highly efficient, low cost DeFi products to the retail market.”

Katherine Deng, Vice President of MXC Exchange, said the team was proud to be offering users the chance to benefit from listing Raydium on M-Day.

“M-Day gives users the chance to participate in discounted token sales of new and exciting projects like Raydium, while also giving them an opportunity to win awards.”

“We pride ourselves on giving our users the best projects before anyone else. Time after time we have shown ourselves to be the proving ground for new tokens before they are listed on Binance or elsewhere. We’re pioneering in our support of the benefits DeFi can bring to the world and we want to give our customers the chance to get involved before anyone else.”

“We are working on forging a close partnership with Solana, and Raydium is the first project we have listed, with plans for many more to follow.”

M-Day is MXC’s platform for listing innovative digital assets for its customers. Customers who purchase during the token sale period are entered into a prize draw with the chance to win more tokens. Any customers buying the newly-listed tokens are entitled to a discount, by trading or holding mainstream cryptocurrencies.

MXC Exchange prides itself on protecting user’s interests at all times. This 21st M-Day offering comes with redemption rights for all participants. Users who do not sell their RAY tokens within 24 hours after the project goes live on the exchange can have the assets for the exchange of the sale token returned to them.

Similar to other M-Day events in the past, participants will join a jackpot draw model.

  1. Ticket claim: 22:00 March 17th – 17:00 March 18th, (UTC+8)
  2. Draw result will be released at 19:00 (UTC+8), March 18th
  3. Asset exchange will be made at 19:30 (UTC+8), March 18th

Raydium is based on the RAY token with a current circulating supply of nearly 18.5 million tokens, the maximum supply will be 555,000,000.

RAY will be supported as SPL token (Solana native token standard) on MXC. The trading pairs that will launch on MXC include RAY – USDC and RAY – USDT.

About MXC Exchange

Established in April 2018, MXC Exchange is one of the world’s leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services.

The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.

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