Record // INFRASTRUCTURE PLAYABLE TEARDOWN
LIQUIDITY VORTEX
Solana's early liquidity poured out from here.
▶ Play this teardown — operate the mechanism yourself →What happened
Raydium launched on Solana in February 2021 as an automated market maker (AMM) and one of the network's earliest major DeFi protocols. Its original hybrid design posted limit orders onto the Serum central limit order book, so pool liquidity was also visible to order-book traders. After Serum was deprecated, Raydium migrated this integration to OpenBook; later AMM versions operate mainly as standalone pools.
Why Solana remembers it
Raydium was early proof that Solana's low fees and fast finality could support on-chain market making, and it became one of the most widely integrated liquidity venues in the ecosystem.
On the map
A churning whirlpool that pulls scattered currents into a single deep channel.