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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Solana's gas fees have surpassed Ethereum's in the past week, accumulating approximately $32.2 million compared to Ethereum's $25.5 million. This shift highlights Solana's growing role as a primary smart contract blockchain, driven by increased transaction volume and usage of decentralized exchanges like Raydium. With around 718.65 million transactions recorded, Solana's activity is 87 times greater than Ethereum's, contributing to network congestion and higher gas fees.
In May 2024, disgruntled employee Jarett Dunn drained $2 million from Pump.fun, leading to his arrest and guilty plea for fraud. The platform, facing regulatory scrutiny, has since blocked UK users and introduced changes like free coin creation and rewards for creators. Despite challenges from competitors, Pump.fun continues to evolve, recently pausing its livestreaming feature due to safety concerns.
Raydium, a prominent DEX on Solana, has launched the public beta of its Perpetual Futures trading feature, offering gasless trading and leverage up to 40x. With zero maker fees and a 2.5 basis point taker fee, it provides a CEX-like experience while ensuring self-custody of funds. Traders can access over 70 asset pairs, enhancing flexibility for long-term strategies.
Raydium has launched perpetual futures trading on Solana, marking the platform's first foray into this area through an integration with Orderly Network's omnichain liquidity system. This development allows for leveraged trading with up to 40x leverage and enhances liquidity by consolidating orders from 30 exchanges. With over 70 trading pairs and competitive fee structures, Raydium aims to capture a share of the growing decentralized finance market, which has seen significant trading volume in perpetual futures.
Raydium has launched a public beta for perpetual futures trading on Solana, offering over 70 trading pairs with up to 40x leverage and low fees, including 0% maker fees and 0.025% taker fees during the beta. This move positions Raydium in the competitive on-chain derivatives market, which has seen over $650 billion in trading volume. With $2.2 billion in total value locked, Raydium aims to leverage Solana's infrastructure for enhanced liquidity and trading capabilities.
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