Comparison of THORChain vs Raydium [ 2024 ]

The best cryptocurrency exchanges compared by their commissions, products offered, security and much more. Here is the THORChain vs Raydium comparison!

Your expert: Alejandro Borja

THORChain

THORChain

Your expert: Xavier Tarrasó

raydium

Raydium

Main points

Fees

fluctuates
NFTs
No

Native token

Token RUNE
0,25%

Fees

No
NFTs
Token RAY
Native token

Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Fees are competitive for cross-chain swaps, but can vary depending on the asset and network conditions.
4.5 – Low fees on the Solana blockchain, with dual yield farming options enhancing overall value.

Level

fluctuates
0,25%

Brief explanation

THORChain employs a distinct fee structure aimed at ensuring network security and providing economic incentives for its participants. The platform charges several types of fees: a fixed outbound fee, a dynamic liquidity fee, and a slip-based fee.

This multi-faceted fee structure not only ensures the economic viability of the THORChain network but also promotes fair trading practices and rewards participants who contribute to the ecosystem’s liquidity.
Raydium employs a straightforward fee structure, making it transparent for users. For each transaction executed in its liquidity pools, Raydium charges a 0.25% fee, which is split between liquidity providers and RAY token stakers. Specifically, 88% of this fee is redirected to the liquidity pool as a reward for liquidity providers, while the remaining 12% is used to buy RAY tokens and distribute them to stakers.

Additionally, trades executed via the Serum DEX incur an average transaction fee of 0.22%, which can decrease based on the number of SRM tokens staked. Besides these fees, users also need to consider network fees for transactions on the Solana blockchain, which are typically very low, ranging from 0.0001 to 0.001 SOL per transaction.

THORChain

Raydium

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Product selection

Native token

Yes, the native token is RUNE.
Yes, the native token is RAY.

Earns

Yes, THORChain offers EARN opportunities by providing liquidity in native assets to liquidity pools, and staking RUNE tokens for network participation and rewards.
Yes, Raydium provides EARN opportunities through liquidity mining, staking RAY tokens, and dual yield farming programs.

NFT marketplace

No, THORChain does not have an NFT marketplace.
No, Raydium does not have an NFT marketplace.

Cripto/debit card

No, THORChain does not offer a debit card.
No, Raydium does not offer a debit card.

Company information

Full name

THORChain
Raydium Protocol

Regulation

No, THORChain is not regulated by any specific financial regulatory authority.
No, Raydium is not regulated by any specific financial regulatory authority.

Year founded

2018
2021

Founder

The founding team is pseudonymous, known collectively as the THORChain team.
AlphaRay and XRay

Payment methods

Transfers

Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

No, THORChain does not support direct deposits via Mastercard. It only allows transactions through wallet connections.
No, Raydium does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

No, THORChain does not support direct deposits via wire transfer. It only allows transactions through wallet connections.
No, Raydium does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

No, THORChain does not support direct deposits via credit card. It only allows transactions through wallet connections.
No, Raydium does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

THORChain FEATURES Raydium
THORChain allows users to trade with relatively low minimums, accommodating small-scale traders but requiring enough to maintain liquidity integrity.
Minimum Trade
Raydium allows relatively low minimum trades, accommodating users who wish to start with small amounts.
Fees on THORChain are competitive within the DeFi space, ensuring affordability while supporting network and liquidity providers.
Trading and Transaction Fees
Raydium offers extremely competitive fees, with low trading costs thanks to the efficiency of the Solana network.
THORChain supports a moderate range of cryptocurrencies focused primarily on major assets, limiting variety but enhancing quality.
Number of Cryptocurrencies
While Raydium supports a variety of SPL tokens, its selection is less diverse compared to larger exchanges.
The platform excels in offering cross-chain trading pairs, enabling direct swaps between significant cryptocurrencies without intermediaries.
Crypto-to-Crypto Trading Pairs
It provides a good range of trading pairs, focusing on quality and liquidity, especially within the Solana ecosystem.
THORChain provides detailed documentation and open-source code, fostering trust through transparency in operations and development.
Website Transparency
The website offers clear information about trading processes and fees, though could improve on team transparency.
Primarily operates on its own network with bridges to major chains like Bitcoin and Ethereum, somewhat limiting compared to multi-network DEXs.
Credit/Debit Card
Limited to the Solana network, which, while fast and cheap, restricts users looking for multi-chain trading options.
As a decentralized platform, THORChain does not offer custodial storage, relying on users to manage their own wallet security.
Storage Offering
As a DEX, Raydium does not offer custodial storage, relying on users to manage their wallets securely.
Offers excellent staking rewards and incentives for liquidity providers, making it attractive for users looking to earn through participation.
Staking and Rewards
Offers robust staking options and rewards, making it an attractive platform for users looking to earn through DeFi activities.
The THORChain website is user-friendly, providing essential information clearly but could improve in navigational aspects and user interface design.
Mobile App and Desktop
Raydium’s website is user-friendly and well-designed, making navigation and trading simple and efficient for all user levels.
Customer support is available through community channels, providing adequate but not real-time support; could benefit from more direct customer service options.
Customer Service
Limited customer support options with no live chat or 24/7 service, which can be a downside for users needing immediate help.
THORChain supports straightforward deposit and withdrawal mechanisms that are inherently secure through decentralized operation, though subject to typical blockchain network delays.
Deposit and Withdraw
Deposits and withdrawals are handled through users’ wallets with no intermediaries, enhancing security but requiring user diligence in transactions.

Key features

Analysis tools

Cross-chain swap analytics, liquidity pool performance data, node metrics, and slippage calculators.
Trading charts, order book, liquidity pool analytics, and price impact indicators.

Mobile APP

No, THORChain does not have a dedicated mobile app, but it can be accessed via mobile browsers.
No, Raydium does not have a dedicated mobile app, but it can be accessed via mobile browsers.

Security

THORChain focuses on cross-chain security, using a unique design that minimizes the need for wrapped assets. The platform employs rigorous security audits and has a robust bug bounty program to identify and mitigate vulnerabilities.
Raydium benefits from the high security standards of the Solana blockchain. It has implemented multiple audits and employs advanced security practices to safeguard user assets and transactions.

Additional features

THORChain supports non-custodial cross-chain swaps, node bonding for running network nodes, a strong focus on decentralization, and the ability to earn yield through providing liquidity in native assets.
Raydium offers AcceleRaytor for launching new projects, dual yield farming, integration with the Serum DEX for advanced trading, and staking opportunities for RAY tokens with additional rewards.

Anonymity

Yes, THORChain enables anonymous trading through the use of connected wallets without requiring personal information.
Yes, Raydium allows for anonymous account usage through wallet connections on the Solana blockchain.

Key points

Available cryptocurrencies

Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Litecoin (LTC), THORChain (RUNE), and various cross-chain assets.
Solana (SOL), Raydium (RAY), Ethereum (ETH), Bitcoin (BTC), USD Coin (USDC), and multiple SPL tokens on the Solana network.

User-friendliness

THORChain’s cross-chain liquidity protocol is powerful but can be complex for beginners. The interface is user-friendly, but the underlying technology and the concept of cross-chain swaps might require some learning for those new to the space.
Raydium provides a seamless user experience with its integration into the Solana ecosystem, offering fast and low-cost transactions. The platform is relatively easy to use, but new users might need some time to get accustomed to the Solana-based operations and features.

Value for money

THORChain offers good value for money by enabling cross-chain swaps without the need for wrapped tokens, which can save users on additional fees. Its native token, RUNE, also provides various incentives and liquidity rewards, adding to its overall value.
Raydium is cost-effective due to its integration with the Solana ecosystem, offering low transaction fees and high-speed trades. Its dual liquidity provision (AMM and Serum DEX order book) maximizes value for users seeking efficiency and low costs.

Countries of operation

Available globally, no specific country restrictions.
Available globally, focusing on regions supporting Solana.

Best for

Best for investors who need cross-chain liquidity and want to trade assets across different blockchains without using wrapped tokens. It’s particularly useful for those who value decentralized, trustless trading environments.
Ideal for both new and experienced traders who value fast and low-cost transactions on the Solana network. Its integration with the Serum DEX provides advanced trading capabilities, making it a good fit for those looking for both simplicity and depth.

Account

Trading

THORChain enables cross-chain trading, allowing users to swap tokens from different blockchains without wrapping. This functionality is unique and highly beneficial for diversified portfolios. However, the platform’s complexity and security incidents in the past may concern new users.
Raydium operates on the Solana blockchain, providing high-speed and low-cost transactions. It integrates with Serum, offering deep liquidity pools. Raydium is excellent for traders looking for fast transactions but still lacks the extensive token support found on Ethereum-based DEXes.

Deposit and withdrawal

THORChain allows cross-chain deposits and withdrawals, enabling users to trade assets across different blockchains without wrapping tokens. This feature provides flexibility and security, as users control their funds via compatible wallets. However, the complexity of cross-chain transactions can be daunting for beginners, and users must pay attention to network fees and security.
Raydium utilizes the Solana blockchain, offering fast and low-cost deposits and withdrawals. Users can connect Solana-compatible wallets, such as Phantom or Sollet, to trade. The efficient transaction process is appealing, but users must handle wallet management and security themselves.

Account opening process

THORChain enables cross-chain trading by connecting users’ wallets from various blockchains. There is no traditional account setup, as users manage their funds through wallets compatible with THORChain. This decentralized model offers flexibility and security but can be complex for those unfamiliar with managing multiple blockchain wallets.
Raydium utilizes Solana-compatible wallets like Phantom for users to start trading. The process involves connecting the wallet to the platform without any formal registration, ensuring user privacy and ease of access. This approach is efficient but requires users to be diligent about wallet management and security.

KYC required?

No, KYC is not mandatory for using the platform.
No, KYC is not mandatory for using the platform.

Customer Service

THORChain provides support through its active community on Discord and Twitter, along with detailed documentation and FAQs on their website. While these resources are beneficial for self-help, the lack of direct customer service may pose challenges for users who need immediate assistance or personalized support.
Raydium offers customer support through community forums, social media, and its help center, which includes comprehensive documentation and FAQs. The community-driven support is robust, but users who prefer direct customer service may find this approach lacking in immediacy and personalization.

Security

THORChain focuses on cross-chain security, using a unique design that minimizes the need for wrapped assets. The platform employs rigorous security audits and has a robust bug bounty program to identify and mitigate vulnerabilities.
Raydium benefits from the high security standards of the Solana blockchain. It has implemented multiple audits and employs advanced security practices to safeguard user assets and transactions.

Which of these exchanges is for you?

As a seasoned observer of the DeFi landscape, I highly recommend THORChain for users seeking a robust platform for cross-chain trading. Its innovative approach to enabling direct swaps between disparate cryptocurrencies sets it apart. However, prospective users should acquaint themselves with its security history and the inherent complexities of operating within a multi-chain environment to fully leverage its offerings.
As an expert closely following the developments in decentralized exchanges, I highly recommend giving Raydium a try, especially for those intrigued by the DeFi space and looking for low transaction fees and fast trades. The platform’s unique integration with Serum DEX and its operations on the Solana blockchain offer a seamless trading experience. However, keep in mind the importance of staying informed about the blockchain’s performance and diversifying your DeFi activities to manage risks effectively. Happy trading!

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More comparatives THORChain and Raydium

Comparison of THORChain vs Raydium [ 2024 ]