2026-01-08 16:29:26

2025 has been a remarkable year for a leading Solana ecosystem DEX. This platform has become the aggregator of trading volume on the Solana chain — surpassing a total trading volume of $1 trillion and securing the top position in the entire Solana DEX ecosystem trading volume rankings. In terms of annual trading volume, 2025 reached $347 billion, with annual revenue exceeding $160.5 million. From the perspective of user numbers, the platform has over 440 million independent trading wallet addresses, and the total number of token exchange transactions processed historically has exceeded 1.8 billion.

What is even more noteworthy is the platform’s innovation in token buybacks. As early as 2024, it pioneered a scaled, programmatic buyback mechanism in the crypto industry, which was a first at the time. The buyback results are quite impressive: 27.6% of the circulating RAY tokens have been repurchased on the open market, totaling over 80 million RAY tokens bought back, worth more than $200 million. This buyback scale accounts for a proportion of the total circulating tokens, firmly ranking first among all protocols in the crypto industry.

In addition, this platform has gradually evolved into the preferred liquidity provider for Solana and cross-chain high-quality tokens. Whether it’s the issuance or listing of new tokens, leading project teams consider it the default liquidity platform, which demonstrates its core position in the ecosystem.

SOL0,11%

RAY1,03%

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LiquidationWatcher

· 5h ago

Whoa, 27.6% of circulating supply bought back? This guy is really throwing money around. --- RAY's move this time is truly aggressive, buying back its own tokens, just betting on the future. --- No hype, no black, this is what a true DEX leader should look like. --- With 440 million wallet addresses, this data can be hyped until next year... --- Buybacks speak louder than any fundraising, who still believes in slogans? --- 18 billion in trading volume doesn't really show much; the key is user retention. --- The Solana ecosystem finally has a contender this time, unlike some chains that just shout slogans all day. --- Hitting over a trillion dollars in trading volume sounds impressive, but is such high liquidity concentration really good... --- Buying back your own tokens in bulk, I just want to see how they exit later. --- This scale of buyback is indeed industry-leading, but it also suggests that the token price might not be as stable as expected?

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liquiditea_sipper

· 01-08 16:59

27.6% of circulating tokens have been repurchased, this level of effort is really intense, how much confidence does that require? --- A trillion-dollar trading volume sounds great, but the real skill is in the buyback. --- Wait, 440 million wallet addresses? Is the Solana ecosystem this competitive? --- A programmatic buyback of $200 million is indeed rare in the crypto world; others are just hyping token economics. --- The high concentration of liquidity actually makes me a bit nervous—everyone's pointing to just one platform, right? --- With an annual trading volume of 347 billion and only 160 million in revenue, where did the difference go? --- RAY's recent moves really confused me—buyback plus liquidity in a double-pronged approach. --- The Solana ecosystem's new tokens default to choosing it as LP—that's what you call pricing power.

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MultiSigFailMaster

· 01-08 16:57

Ha, a 27.6% buyback ratio is really impressive, which is indeed rare in the crypto world. --- A trillion USD in trading volume sounds great, but the question is whether this number can be sustained. --- RAY's buyback力度确实凶悍啊，就是不知道后续能不能维持住 --- Liquidity's number one position is quite stable, but we need to watch out for being surpassed. --- 44 million independent wallet addresses? Is such a huge user base real? --- The large-scale programmatic buyback system was implemented in 2024, and now it has become the new standard. --- 347 billion in trading volume in a single year, is the Solana ecosystem taking off? --- The buyback returning to 27.6% of circulating supply is indeed top-tier among crypto protocols. --- Wait, what does 1.8 billion transactions mean? How many transactions per day is that on average? --- Having a core position is one thing, but the question is whether it can withstand the next bear market shock.

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HalfBuddhaMoney

· 01-08 16:56

It has broken 1 trillion, and the buyback力度 is really aggressive. The 27.6% circulating supply indicates that the team truly intends to take a long-term approach.

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GasBankrupter

· 01-08 16:54

10 trillion trading volume? Oh my, that number makes my head spin, I need a sip of water to calm down. A 27.6% buyback ratio is really aggressive, we admit it's number one in the industry. RAY's recent moves remind me of some loyal projects from back in the day, they really have something. Wait, is the 440 million wallet addresses true? That seems a bit exaggerated. The number of transactions has exceeded 1.8 billion, the activity level is indeed impressive. Annual revenue of 160 million, this is what Web3 should look like. Honestly, the DEX landscape has changed too quickly in recent years. The most aggressive buyback mechanism belongs to them, no one else. The top choice for liquidity? Then other DEXs really need to reflect.

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LayerZeroJunkie

· 01-08 16:39

Trillion-dollar trading volume, 27.6% buyback ratio. This data is truly outstanding. RAY has stabilized with this move.

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RugpullSurvivor

· 01-08 16:35

A transaction volume of 10 trillion dollars sounds impressive, but a 27.6% buyback of circulating supply? That’s a pretty extreme move, directly pumping the price. --- Wait, 440 million independent wallet addresses? Is the Solana ecosystem really this competitive, or is the data inflated? --- RAY’s recent actions are playing with fire. Large-scale buybacks are risky—what if the project team runs away someday? The bagholders could suffer huge losses. --- Actually, the ones making real money are never those with the highest trading volume, but those who take the biggest cut in fees. This data looks good, but how much profit margin is there? --- The position of liquidity providers is solid, no doubt, but after so many collapses in the Solana ecosystem over the past two years, can trust really be that high? I have my doubts. --- A yearly transaction volume of 347 billion sounds impressive. But think about it—what kind of low fee rate would be needed to attract such volume? Is it a huge profit or just thin margins? --- A 27.6% buyback ratio is indeed outrageous. Being number one in the industry isn’t just hype—just beware that a policy change could wipe it all out.

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