Raydium firmly establishes itself as the dominant liquidity infrastructure on Solana, commanding 50-60% of the chain's DEX volume and frequently surpassing global leaders like Uniswap in daily turnover. The protocol excels in Active Development (9.2) and Market Use Case (9.2), evidenced by the successful deployment of capital-efficient V3 and CPMM pools, which have significantly modernized its architecture post-Serum. Tokenomics (8.2) are robust, featuring a hard-capped supply, a deflationary buyback model driven by actual protocol revenue, and the completion of major vesting cliffs as of 2024. However, the overall score is impacted by a low Security rating (5/10) due to the 2022 admin key exploit. While the team has since implemented a Squads multisig to remediate this operational negligence, the history of a successful hack combined with a pseudonymous leadership structure (7/10) introduces persistent accountability risks. Despite these historical blemishes, Raydium's functional dominance and high velocity of execution make it a fundamental asset within the Solana ecosystem.