Raydium, the well-known liquidity provider and Automated Market Maker (AMM) based on the blockchain of Solana intends to start supporting Token-2022. The platform noted in a blog post published on Medium that Token-2022 is a unique standard and offers additional possibilities to the ecosystem of Solana.
Raydium Now Supports the Latest Standard Token-2022
In that blog post, the company mentioned that the present Token Program of Solana has played the role of a dependable asset solution on the network. Nonetheless, as Solana is making continuous endeavours to expand, demand for more token operability has elevated. In addition to this, the platform pointed out that Token-2022 is considered to be the next step to enable more evolution and growth of the Solana-based assets.
Apart from that, the platform provided details about Token-22. It stated that the respective standard is a thrilling frontier for the latest tokens within Solana’s ecosystem. As per the firm, this enables additional token functionality via an extension model. Nevertheless, as is the case with the innovations that take place in the sector, due diligence and caution are the most necessary things, the platform added.
The Platform Advises Users to Be Cautious Regarding Due Diligence
Raydium also brought to the front that clients should keep in view the addition of the coin extensions such as transaction charges in several things. As per it, the users should guarantee that their research is thorough and they completely comprehend the extensions as well as the features concerning the Token-2022 assets.
A noteworthy thing here is that Token-2022 counts as an unaudited project. Additionally, the program is still going through its beta phase. Although Raydium makes huge efforts to guarantee the utmost reliability and security, it is important to recognize the inherent hazards while interacting with the still-developing cutting-edge protocol.
