What is Raydium?

Launched in February 2021, Raydium is an automated market maker (AMM) and decentralized exchange (DEX) built on the Solana blockchain. It allows users to swap tokens, create and add liquidity to pools, and trade with relatively low fees and high transaction speeds, benefiting from Solana's scalability. Raydium is unique among many AMMs for integrating with Solana's central limit order book system, allowing shared liquidity between Raydium pools and the broader Solana ecosystem.

What is RAY?

The native token of the protocol is RAY, a Solana Program Library (SPL) token that operates on the Solana blockchain. The token's primary role is to incentivize platform activity, earn more RAY tokens through staking, and participate in the Raydium ecosystem. RAY holders can stake their tokens, participate in governance decisions, and use them for transactions within the ecosystem. There are a total of 555 million units of RAY, and at the time of this publication, there are ~290.3 million RAY currently in circulation.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.

Wealthsimple has performed an assessment of whether RAY can be supported by Wealthsimple's platform, including whether RAY is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated RAY based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of RAY, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created RAY;
• The supply, demand, maturity, utility and liquidity of RAY;
• Material technical risks associated with RAY, including any code defects, security breaches and other threats concerning RAY and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
• Legal and regulatory risks associated with RAY, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of RAY; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdictions regarding whether RAY, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to RAY may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support RAY.

Like all other crypto assets, there are some general risks to investing in RAY. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading RAY. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last Updated: August 5, 2025