Starting to build a position in a bit of RAY. Raydium, as the oldest DEX on the SOL chain, holds a similar status to UNI on Ethereum and CAKE on BSC. The reason for choosing RAY as a long-term investment is primarily that the tokenomics of UNI and CAKE are quite poor. RAY shows a large circulating supply, and back in '24, the total supply was capped at 269 million. Since then, they've bought back tens of millions of tokens, and the actual circulating supply is now only 188 million, with a market cap of 15 million USD. This market cap is more cost-effective compared to UNI and CAKE, of course, that's a secondary reason. The main point is that most staking tokens lack a buyback and burn mechanism, or their income is so bad that the buybacks are essentially a joke! Meanwhile, RAY's buyback is set in stone; a portion of every income is automatically allocated for buybacks. Even in a poor market quarter, they managed to buy back and burn over 3 million USD. As market conditions improve and tokenization of securities on SOL gains support from Wall Street, all of this will boost RAY's trading volume and transaction fees. After dealing with too many shady, non-transparent projects that are overhyped and costly, I've had to settle for RAY, which has an overall mechanism that closely resembles hype. This aspect makes it superior to UNI and all other platform tokens, as no other platform token has disclosed any buyback records; most of the time, it's just inventory tokens being burned, which is really off-putting. $RAY $UNI $CAKE