Latest news with #Orderly
See - Sada Elbalad
16 hours ago
- Business
- See - Sada Elbalad
IOM, Egypt, Japan Join Forces to Support Infrastructure of Southern Egyptian Border Crossing Points
Ahmed Emam On Wednesday, the International Organization for Migration (IOM) in Egypt handed over an electricity generator and 12 air conditioners (ACs) to the General Authority for Land and Dry Ports of the Egyptian Ministry of Transport to support operations at Egypt's Southern Border Crossing Points (BCPs) with Sudan. This initiative is part of the ongoing strategic collaboration between IOM and the Government of Egypt, to facilitate dignified cross-border movements of individuals while ensuring a decent working environment for Egyptian officials, with thanks to the generous funding of the Government of Japan. Since 2023, Egypt has become a key destination for migrants seeking refuge and stability within the MENA region, particularly those fleeing from conflict in Sudan. As movement through Egypt's southern border crossings with Sudan continues, strengthening border infrastructure remains essential; equipment is critical to ensuring support for vulnerable populations on the move. 'We are delighted to begin this vital partnership with the Ministry of Transport and eager to deepen and further expand it. This initiative complements other joint efforts between IOM and the Government of Egypt, whose commendable efforts in hosting migrants for decades contributes to safe and orderly migration.' said Mr. Carlos Oliver Cruz, Chief of Mission of IOM Egypt. 'I would also like to express IOM's gratitude to the Government of Japan, whose generous support has allowed us to implement several crucial projects spanning different areas of migration governance, in close coordination with our Egyptian counterparts.' The electricity generator will serve as a reliable power source to sustain efficient cross-border operations the Egyptian Southern Border Crossing Points (BCP) with Sudan, while the ACs will help maintain a safe, hygienic, and decent environment for vulnerable migrants crossing the border as well as appropriate working conditions for the Egyptian officials at Egypt's Southern BCPs. Provision of these items aligns with objectives of the Global Compact for Safe, Orderly, and Regular Migration (GCM), of which Egypt is a Champion Country. It particularly contributes to objective 11 "Manage borders in an integrated, secure and coordinated manner." It adds to a growing list of commendable actions taken by the Government of Egypt to support migrants and address migration-related challenges in line with the commitment of Egypt to the international law and relevant standards. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Yahoo
07-02-2025
- Business
- Yahoo
Raydium is Solana's AMM King. Can it Corner the Perps Market Next?
Decentralized crypto trading engine Raydium is making a bid for Solana's multibillion dollar perpetuals market – and gaining traction fast. Raydium's weeks-old foray into offering these hyper-popular derivatives contracts – they allow crypto traders to speculate on price swings without holding the actual token – is already racking up $100 million in daily trading volume. It's now Solana's third most popular venue for trading perps, behind Jupiter and Drift, this ecosystem's trading heavyweights. The growth comes despite Raydium perps' nascency; its builders haven't poured marketing capital on promoting a trading tool that's yet to officially launch. "Raydium brand still packs a punch," said InfraRAY, a core contributor to the project. The push caps Raydium's ascendence to the top of Solana's decentralized crypto trading landscape. Its automated market maker (AMM) setup, which enables anyone to spin up a trading pool of any asset, has been a difference-maker in Solana's memecoin era. And yet, most traders who use Raydium's swap rails never visit its website. Instead, they access its services through trading aggregators that split orders across multiple venues. This means potentially less activity for Raydium and, crucially, a weaker relationship with direct users, the traders. In industry parlance, these traders are the "takers," the ones who execute a trade. Makers, meanwhile, are the ones providing liquidity, perhaps by funneling assets into Raydium's AMM. "Raydium has done well on the maker-side," said InfraRAY, "But greater network effects exist when you own the relationship with the taker." Behind the scenes, Raydium's perps trading is being supported by Orderly Network, a trading project with roots outside the Solana ecosystem. Orderly allows perps traders working from multiple blockchains to trade assets on a unified order book. This provides smoother sailing for all orders. Orderly's month-old Raydium rollout is proving to be a major boon. Perps traders on Solana are now driving 25 percent of Orderly's total volume. "We're trading anywhere from $200 to $400 million a day in volumes" across the couple dozen projects that offer Orderly-supported perps trading, said CEO Ran Yi. Facilitating trades via Orderly – in lieu of executing perps transactions on-chain, as many of Raydium's more entrenched competitors do – can save the protocol money and better ensure transactions process correctly, InfraRAY said. But it also comes with its own cross-chain complexities that he said are still being worked through. Next stop: full launch. In a few weeks Raydium's perps service will be ready for a proper debut and shake off the "public beta" training wheels. Once it does, the teams behind it plan to push harder on marketing and outreach. Even at $100 million in daily volumes, Raydium's perps service is far from displacing the Solana DeFi ecosystem's top on-chain perps service, Jupiter. The best-known swaps aggregator's derivatives exchange sees nearly $2 billion in daily volume; the runner-up, Drift, sees double the volume of Raydium. But InfraRAY is confident Raydium can chip away at the bigger protocols' respective leads. For one, its perps service offers trading in vastly more assets than either competitor. Orderly allows for speedy listings of new contracts, meaning Raydium can move fast to capture, and potentially corner, new markets. He thinks the total addressable market for Solana-based perps is only set to grow. "I expect there to be more competition and innovation. But currently Raydium has a seat at the table."
