Buybacks

How Raydium trading fees route into buybacks and how to verify the flow on-chain.

12% of Raydium trading fees are used to buy back RAY. Bought-back RAY is held by the protocol at a public on-chain address.

Flow at a glance

Swap fee
  -> LP share
  -> RAY buyback share
  -> Treasury share, where applicable

For CLMM and CPMM pools, the trading-fee split is:

84% to LPs
12% to RAY buybacks
4% to treasury

For Standard AMM v4 pools, the trading-fee split is:

88% to LPs
12% to RAY buybacks

What buyback share means

The buyback percentage applies to the trading fee, not to the full trade amount.

Example: a pool charges a 0.25% swap fee. The buyback share is 12% of that fee.

Trade amount:       1,000 USDC
Swap fee:           1,000 * 0.25% = 2.50 USDC
RAY buyback share:  2.50 * 12% = 0.30 USDC

The effective buyback amount is 0.03% of the trade amount in this example.

Collection addresses

Protocol-side fees are collected by program-specific addresses before being converted or routed.

Source	Collection address
CLMM	projjosVCPQH49d5em7VYS7fJZzaqKixqKtus7yk416
CPMM	ProCXqRcXJjoUd1RNoo28bSizAA6EEqt9wURZYPDc5u
Standard AMM v4	PNLCQcVCD26aC7ZWgRyr5ptfaR7bBrWdTFgRWwu2tvF

Collection addresses can hold many different tokens. Each pool pays fees in the tokens it trades, so a collection address may hold USDC, wSOL, RAY, or other SPL tokens before routing.

Buyback holding address

Bought-back RAY is held at:

DdHDoz94o2WJmD9myRobHCwtx1bESpHTd4SSPe6VEZaz

You can inspect this address directly on Solscan or with SPL Token tooling:

spl-token accounts --owner DdHDoz94o2WJmD9myRobHCwtx1bESpHTd4SSPe6VEZaz

Why buybacks are on-chain

Raydium’s buyback flow is auditable from public addresses and transaction history.

• Balances are visible: collection and holding addresses can be inspected by anyone.
• Transfers are traceable: incoming fee transfers and outgoing routing transactions are public.
• No private accounting is required: the chain is the ledger for the flow.

How to verify a buyback flow

1. Open a Raydium swap transaction in Solscan or Solana Explorer.
2. Identify the pool program and fee transfers.
3. Match protocol-side fee movement to the relevant collection address.
4. Inspect outgoing transactions from the collection address.
5. Confirm RAY accumulation at DdHDoz...VEZaz.

For the complete address map, see ray/treasury.