Raydium’s product portfolio grew over five years through successive deployments. This page is the timeline, with context on why each launch mattered and what it changed. Treat it as a guide to why the codebase looks the way it does today.
2021 — Founding and AMM v4
February 2021 — Mainnet launch
Raydium launched as Solana’s first hybrid AMM — constant-product pools integrated with Serum’s (later OpenBook’s) central limit orderbook. The key insight: Solana’s fast state access let a DEX combine AMM liquidity with orderbook liquidity in a single swap instruction, producing tighter quotes than either could alone. Initial product: AMM v4. Pool math is standardx × y = k, but orderbook integration lets the pool pass a trade to OpenBook when the book offers a better price.
March 2021 — Farm v3
Farm v3 launched alongside AMM v4. Purpose: distribute Raydium’s native $RAY token to LPs who stake their LP tokens, bootstrapping TVL.May 2021 — Token launchpad “AcceleRaytor”
Early version of a launchpad mechanism. Retired in 2023 when LaunchLab replaced it.November 2021 — MadShield audits complete
First round of audits on AMM v4 and Farm v3. No critical findings; minor code-quality recommendations addressed.2022 — CLMM
April 2022 — CLMM public testnet
Raydium’s CLMM implementation enters public testing. Implementation takes inspiration from Uniswap V3’s tick-based model but adapts for Solana’s account architecture — ticks stored in chunkedTickArray PDAs rather than a single sparse mapping.
August 2022 — CLMM mainnet
CLMM launches on Solana mainnet. First concentrated-liquidity DEX on Solana.October 2022 — Farm v5
Farm v5 deployed. Changes from v3: supports multiple reward streams per farm, scheduled emission changes, per-stream admin controls.November 2022 — OtterSec + MadShield CLMM audits
Concurrent audits by two firms. One critical finding (tick-crossing accounting bug in an edge case) fixed pre-deploy. Three high-severity findings fixed.December 2022 — Pool authority compromise
An AMM v4 pool authority key was compromised; several pools drained. Scope: operational key management, not program bug. Response:- Moved all authority roles to Squads multisig.
- Community-approved use of protocol fees earmarked for RAY buybacks to obtain target balances and compensate affected LPs.
- Published postmortem on forum.
2023 — Farm v6 and infrastructure hardening
March 2023 — Farm v6
Farm v6 deployed with Anchor architecture (previous versions were pre-Anchor). Changes:- Cleaner IDL for integration.
- Up to 5 reward streams per farm (vs 3 in v5).
- Better timestamp-based accounting (v3/v5 used slot counts, leading to drift on leader changes).
- Token-2022 support for reward mints.
April 2023 — CLMM Token-2022 support
CLMM extended to accept Token-2022 mints. Required newSwapV2 instruction variant (the original Swap is deprecated for Token-2022 pools). Re-audited by OtterSec.
May 2023 — Farm v6 audit by OtterSec
Audit complete; several medium findings fixed in v6.1 hotfix.2024 — CPMM and LaunchLab
March 2024 — CPMM announcement
Raydium team announces CPMM as the long-term replacement for AMM v4. Rationale:- AMM v4’s OpenBook dependency complicates integration.
- AMM v4 protocol-fee structure doesn’t incentivize LPs as strongly as a pure-LP-share model.
- No Token-2022 support on AMM v4.
June 2024 — CPMM mainnet
CPMM deploys to mainnet. Initial AmmConfigs: 0.01%, 0.25%, 1%. Immediately recommended for new pool creation. Migration path from AMM v4 published; community-led migrations commence over next 6–12 months.August 2024 — LaunchLab
LaunchLab deploys to mainnet. Succeeds the legacy AcceleRaytor with bonding-curve + CPMM-graduation model. First graduated token: TOKEN1 (graduated within 24 hours of LaunchLab enabling).September 2024 — MadShield + OtterSec CPMM audits
Concurrent audits complete. One high finding fixed pre-deploy; four mediums addressed; remaining lows tracked in issue tracker.October 2024 — LaunchLab audit
OtterSec audit of LaunchLab complete. Two high-severity findings addressed (both around graduation edge cases); two medium findings accepted as documented trade-offs.2025 — Product maturity
January 2025 — CPMM TVL exceeds AMM v4
Community-led migration accelerates; CPMM becomes the dominant constant-product venue. AMM v4 TVL starts declining as LPs migrate to CPMM counterparts.July 2025 — CLMM TVL crosses $1B
First time any single Raydium product exceeds $1B in TVL.November 2025 — CPMM minor version update
Deployment of CPMM v0.2 (post-timelock) fixes accounting edge case identified by OtterSec re-audit. No user funds impacted.Maintenance status
| Product | Status | New functionality |
|---|---|---|
| AMM v4 | Fully operational — UI no longer surfaces new-pool creation | None (new pools default to CPMM) |
| Farm v3 | Maintenance | None (new farms use Farm v6) |
| Farm v5 | Maintenance | None (new farms use Farm v6) |
| AcceleRaytor | Retired 2023 | Replaced by LaunchLab |
Key incidents (linked, not re-summarized)
- December 2022 — Pool authority compromise — see
security/audits. - January 2023 — OpenBook integration freeze — same references.
Versioning philosophy
Raydium versions products by major number (AMM v4, Farm v6). A new major number means a fresh program ID — old program continues running; new program is a separate deployment. This is distinct from in-place upgrades (which are possible via the upgrade authority but rare). Rationale: users hold positions that depend on specific program behavior. Shipping a new product as a new program gives users an opt-in migration path rather than forcing everyone onto the new version at once.Pointers
introduction/what-is-raydium— the elevator pitch.introduction/ecosystem-position— Raydium in context.reference/changelog— version-by-version release notes.security/audits— audit history.
- Raydium on Medium — product announcements and postmortems.