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Following
RAY Raydium tokens were repurchased more than US$640,000 in a single day, and structural supply tightening boosted prices to rebound.
According to CoinMarketCap data, Raydium's native token $RAY once surged to US$1.46 in intraday trading, and then fell back to around US$1.34. The increase for the day was about 20%, and the cumulative increase in the past week was close to 68%.
Daily Repo Mechanism and Fee Allocation Structure
On September 9,@Raydium shared a chart on Blockworks that showed it repurchased approximately US$640,000 worth of RAY tokens from the open market in a single day. This data reflects an established rule of the agreement: 12% of the exchange fees charged by Raydium's liquidity pools will be used directly to automatically and continuously purchase RAY tokens on the open market.
The fee allocation ratios vary among different liquidity pool types:
- CLMM and CPMM pools: 84% of the exchange fee is owned by the liquidity provider, 12% is used to repurchase RAY tokens, and the remaining 4% is injected into the treasury.
- Standard AMM v4 pool: 88% of the fee goes to the liquidity provider, and the remaining 12% is used to repurchase RAY tokens.
All tokens obtained from repurchase are accumulated in a publicly visible on-chain address, ensuring that the program is fully auditable.
Structural supply tightening behind the rise
The amount of repurchase in a single day is only part of the larger cumulative effect. According to AMBCrypto, Raydium announced on August 31 that its fee-based repurchase program has purchased a total of more than 30% of RAY's circulation supply, with cumulative expenditures exceeding US$190 million and purchasing more than 69 million RAY tokens.
Repurchase speed is directly linked to transaction volume: more transactions generate more fees, which in turn drives a larger proportion of tokens into the repurchase wallet. In recent months, as activity caused by Launchpad integration has surged, trading volumes have fluctuated significantly, with transaction volume reaching approximately US$31.8 million during one notable spike (according to Crypto Briefing data). This combination of rising demand and shrinking circulation is the reason for the strong reaction among traders this week.
Raydium's fee structure and on-chain repurchase mechanism distinguish it from most DeFi protocols, which typically allocate the majority of fee revenue to liquidity providers rather than directly supporting native tokens. Whether the future repurchase rhythm can maintain the current price momentum will largely depend on whether the agreement can continue to attract sufficient trading activity.
