On July 17, according to data released by Infra, as of July 2025, Raydium has invested a total of US$190.4 million USDC to repurchase $RAY, with a cumulative repurchase amount of 69.1 million pieces, accounting for 25% of its circulating supply. [PANews]

On July 17, Raydium, a decentralized exchange based on Solana, announced on Wednesday that it has allocated a total of $190.4 million to repurchase RAY tokens. The platform will repurchase a portion of RAY tokens from the open market, with funds coming from its revenue. According to data shared by 0xINFRA, a contributor on the X platform, this move brings Raydium's cumulative repurchase total to 69.1 million RAY, accounting for about 25% of the circulating supply. The RAY token was last traded at close to $2.99, and at this price, the token's nominal market value is approximately $800 million. However, after taking into account the repurchased tokens, the market value adjusted for circulation will be close to $593 million. [PANews]

MAG7.SSI

Solana ecosystem DEX Raydium has repurchased over $190 million worth of tokens

0xINFRA, a contributor to Solana-based DEX Raydium, stated that the platform has allocated $190.0 million to repurchase RAY, bringing its cumulative RAY repurchases to 69.10 million, accounting for 25% of the circulating supply. [Foresight News]

Raydium has allocated $190.0 million to repurchase RAY, with a cumulative RAY repurchase totaling 69.10 million.

On July 17, according to The Block, the Solana ecosystem's decentralized exchange Raydium has cumulatively invested $190.4 million to repurchase RAY tokens, with a total of 69.10 million RAY repurchased, accounting for approximately 25% of the circulating supply. [TechFlow]

Data: Raydium's cumulative repurchase amount exceeds $190.0 million

Raydium, Solana’s largest decentralized exchange by volume, has cumulatively allocated $190.4 million to buy back RAY tokens, the protocol announced Wednesday. The platformallocates a portion of its revenue to repurchase RAY tokens from the open market.

The move brings Raydium’s cumulative buyback total to 69.1 million RAY, or about 25% of the circulating supply, according to data shared by contributor 0xINFRA via X.

RAY last traded near $2.99, giving the token a headline market capitalization of around $800 million, The Block’s price page shows. However, a float-adjusted figure would be closer to $593 million after accounting for repurchased tokens.

Raydium initiated systematic buybacks in early 2024 as part of a broader plan to return revenue to token holders while reducing net issuance through liquidity incentives. Approximately 1.9 million new RAY emissions occur annually, while the protocol reported generating $9.1 million in gross revenue in May alone, which annualizes to more than $109 million if the fee trend continues. Of that, $4.8 million went toward May buybacks, implying an annualized pace of roughly $57.6 million in capital returns. The Block's data dashboard shows that Raydium has one of the highest monthly fee intake across DeFi.

At current prices,this translates into a direct yield of approximately 13.5% for all holders, before factoring in any token price impact, according to a valuation analysis shared by 0xINFRA. RAY is functionally deflationary, with programmatic buybacks offsetting emissions, and the pseudonymous developer has been added.

Critics argue that token buybacks can be cosmetic, but Raydium’s strategy supposedly differs from other protocols that burn through reserves to remove supply from the market. The contributor stated that revenue is increasing while supply is shrinking, and treasury assets — approximately $60 million in SOL, USDC, and other tokens — provide an operational cushion.

The buyback program signals a broader trend in DeFi as more protocols adopt a corporate‑style capital allocation to reward holders. Solana memecoin launchpad Pump.fun recently initiated a token repurchase spree as part of a possible revenue-sharing strategy, The Block reported. Perp DEX Hyperliquid also features a buyback structure, allocating approximately 97% of trading fees to repurchase its native token,HYPE. [The Block]

PUMP

Solana DEX Raydium’s cumulative token buybacks surpass $190 million

<p>On July 17, according to data released by Infra, as of July 2025, Raydium has cumulatively invested $190.4 million USDC to repurchase RAY, with a cumulative repurchase volume of 69.10 million, accounting for 25% of its circulating supply.</p> [BlockBeats]

Raydium has cumulatively spent $190 million to repurchase 69.10 million RAY tokens, accounting for 25% of the circulating supply.

<p>July 17th, according to data published by Infra, as of July 2025, Raydium has cumulatively invested 190.4 million USDC to repurchase RAY, with a total repurchased amount of 69.1 million tokens, accounting for 25% of its circulating supply.</p> [BlockBeats News]

Raydium has spent a total of $190 million to repurchase 69.1 million RAY tokens, representing 25% of the circulating supply.

Infra data shows that as of July 2025, Raydium has cumulatively invested $190.4 million USDC to repurchase RAY, with a cumulative repurchase of 69.10 million tokens, accounting for 25% of its circulating supply. [Odaily Planet Daily]

USDC

Raydium has repurchased 69.1 million RAYs with a total of US$190 million, accounting for 25% of the circulation.

根据Infra发布的数据，截至2025年7月，Raydium已累计投资1.90亿美元USDC回购$RAY，累计回购数量达6910万枚，占其流通供应量的25%。[PANews]

Raydium已回购了6910万枚RAY，总金额达1.90亿美元，占流通量的25%。

根據Infra發佈的數據，截至2025年7月，Raydium已累計投資1.90億美元USDC回購$RAY，累計回購數量達6910萬枚，佔其流通供應量的25%。[PANews]