Source. Crypto info.com
What is Raydium?
Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain for the Serum decentralized exchange (DEX).
Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook meaning that funds deposited into Raydium are converted into limit orders which sit on Serum's orderbooks.
This gives Raydium LPs access to all of Serum's order flow as well as their existing liquidity.