Gemini Now Supports Raydium (RAY) and Saber (SBR)

Today, we are thrilled to announce support for Raydium (RAY) and Saber (SBR)!

• Raydium (RAY) and Saber (SBR) are now supported for deposits and can be custodied in our exchange wallet.

If you don’t yet have a Gemini account, you can create one here.

Trading for RAY and SBR will follow, opening first on our API/FIX and ActiveTrader applications for USD trading pairs. It will then open on our Gemini Mobile App and website on a rolling, token-by-token basis for USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs.

Follow our Twitter account @Gemini for real-time updates as these tokens become available for trading.

With the addition of these new tokens, we now offer trading and custody for more than 75 tokens, with an additional 15 tokens available for custody. Learn more about all the tokens we support, and more, here.

With support for RAY and SBR, we are thrilled to add SPL tokens built on Solana to the range of tokens available on Gemini. We believe these tokens will provide value to our users as we continue to support the growth of decentralized finance and the Solana ecosystem.

We look forward to supporting new crypto projects on our mission to unlock the next era of financial, creative, and personal freedom.

Onward and Upward!

Team Gemini

Raydium (RAY)

RAY is an SPL token compliant with the Solana network. RAY’s use cases include: 1) liquidity incentivization, 2) participation in AcceleRaytor, 3) market making fee capture, and 4) governance (to be launched as of March 2022). AcceleRaytor is operated by Raydium, and provides a platform for new Solana projects to distribute tokens. Raydium is a decentralized exchange (DEX) frontend interface on the Solana network that plugs into the Serum DEX central limit order book. Raydium operates as an automated market maker (AMM) and acts as a traditional DEX on Ethereum (e.g. Uniswap, Sushiswap), while the trades themselves are executed through Serum. Raydium users can provide tokens to a liquidity pool in a 1:1 ratio for a two-sided trading pair, and receive a portion of trading fees generated by the pool. Fees on Raydium are 0.25%, with 0.22% given to liquidity providers, and the remaining 0.03% allocated to stakers of RAY. Raydium also provides other avenues for earning yield through staking.

Saber (SBR)

SBR is an SPL token compliant with the Solana network. SBR’s use cases include: 1) staking for governance (treasury, fees, etc.) and 2) incentivizing pools to maintain liquidity in stableswap pairs. Saber is a decentralized exchange (DEX) for stablecoin swaps built on Solana. Saber functions similarly to the Curve protocol on Ethereum. The Saber DEX allows for low fee swaps of USD stablecoins. There are a number of Solana-based SPL tokens that have the same or similar assets backing them. For example, Solana supports USD Coin (USDC), Tether (USDT) and Terra (UST) that all target the price of USD1.00. The Saber DEX launched on June 1st, 2021 and launched its SBR token on July 15th, 2021. Saber experienced success since launch given the many assets that are bridged from other networks to Solana and require a Solana-native liquid stablecoin swap protocol.