Raydium, Jupiter and Orca can do this

If you want to avoid centralized providers when trading cryptocurrencies, you can use decentralized exchanges (DEX). Decentralized exchanges enable direct trading of cryptocurrencies between users via smart contracts and liquidity pools, with all transactions recorded on the blockchain. Unlike centralized exchanges (CEX), DEX’s do not offer fiat-crypto exchanges, but instead trade exclusively crypto-to-crypto.

Historically and even today, the most DEX’ on the Ethereum blockchain, which continues to have the most DeFi activity. Recently, however, the Solana blockchain has been gaining in users, trading volume, and total value locked (TVL). The driving protocols on Solana include Raydium, Jupiter, and Orca, which are examined in more detail here.

Raydium

Raydium is one of the fastest-growing DEX protocols in the crypto space, providing a fast, efficient, and low-cost platform for swapping, trading, and providing liquidity. Thanks to its popularity, technological advantages, and an active community, Raydium is driving the development and adoption of DeFi on Solana.

Important features and aspects:

• Thanks to Solana’s high transaction processing rate and low fees, Raydium is attracting more users and developers.
• Raydium hosts IDOs for new tokens and provides a platform for token issuers to launch projects and for users to participate in early investment stages.
• The bridge feature enables seamless asset transfers between different blockchains, expanding the usefulness and reach of the platform.
• Raydium provides APIs to integrate on-chain data into third-party applications for real-time data query and analysis.
• Users can access and analyze trading volumes, liquidity pools, token prices and historical data to identify trends, test strategies and assess market conditions and risks.

Jupiter

Among the various DEX’s on the Solana blockchain, the Jupiter platform stands out as one of the best. Jupiter is a new next-generation DEX that offers a range of Features including advanced trading tools, an intuitive user interface, and fast transaction speeds.

Important features and aspects:

• A standout feature of Jupiter is its order book, which provides real-time market data to traders to enable informed trading decisions. This is particularly notable for DEX platforms as it is technically challenging to offer such a feature.
• As a pioneer in the DeFi space, Jupiter also allows trading SOL, ETH & BTC Perpetuals with leverage of up to 100x. This is considered the holy grail of DEX trading among active traders.
• In addition, Jupiter also offers liquidity pools that allow users to earn rewards by providing liquidity on the platform.
• The platform also has its own token, JUP, which users can earn as rewards or use to pay trading fees, further increasing usability and value.

Orcas

Although Orca is by far not the largest DEX on the Solana blockchain, it is generally considered to be the most user-friendly protocol. Similar to Jupiter, the native ORCA token allows for staking rewards in the form of a percentage of trading fees. However, when looking at the average trading volumes, it is noticeable that the growth in the last month is comparatively low at just 5 percent, in contrast to Jupiter with +32 percent or Raydium with +25 percent.

Important features and aspects:

• Specialized liquidity pools that serve as Hot tubs were designed to optimize returns for liquidity providers.
• The Fair Price Indicator helps users avoid the risk of price crashes by showing when the price of an exchange is close to the market price.
• The Magic Bar provides a simplified interface for exchanging tokens to make trading as straightforward as possible.
• Like all Solana projects, Orca can take advantage of the high-speed and low-cost Solana blockchain.