Update:
497,060 $RAY worth ~$1.7m has been bought back via single-sided maker liquidity on Raydium’s RAY-SOL pool
This in addition to $1.6m allocated last week to programmatic on-market buybacks
To test a new buyback method, Raydium is allocating $4M from LaunchLab fees for single-sided positions in the RAY-SOL CLMM pool, optimizing liquidity and testing a new buybacks method, transitioning from a taker-based to a maker-based approach.
This move ensures deeper liquidity for $RAY traders and creates more effective execution for buybacks. This approach will be modified and adjusted with the possibility transitioning the current buyback program (swap fees) to a maker-based model.
When single-sided SOL positions are converted to $RAY, the position will be removed and transferred to Raydium’s buyback wallet, continuing our commitment to regular RAY buybacks.
For those unaware, Raydium’s formal buyback program uses fees earned on swaps and programmatically buys RAY as a top of the book taker, this remains unchanged.
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