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What GMGN is and does well
GMGN is one of the most-used trading terminals in the Solana and multi-chain memecoin space, running as both a web app at gmgn.ai and a family of Telegram bots covering Solana, Ethereum, BSC, Base, and Tron. It built its name on speed and depth: a live token discovery feed (Trending, New Pair, Discover), a wallet detail page that shows any address's 7-day and 30-day realized PNL, unrealized profit, win rate, and average holding time, and CA Security Checks that flag mintable supply, blacklist functions, burnt liquidity, and rug history before you buy. GMGN also ships Wallet Radar and Copy Trade, so you can follow a smart-money wallet and mirror its buys automatically, an X Tracker for monitoring tweets from curated Twitter accounts with a built-in quick buy, and SnipeX for auto-buying a token contract the moment it's tweeted. On top of that sits a full order book of automation: limit buy and limit sell, take-profit and stop-loss, and trailing versions of both that adjust the exit price as a token keeps climbing. For traders who want one terminal covering several chains, with charts and order types layered on top of the swap itself, GMGN is a serious, mature tool, and it's easy to see why it shows up in nearly every conversation about Solana trading bots.
GMGN's fees and referral program
GMGN charges a flat 1% handling fee per swap on top of normal network gas and any priority or tip fee you set yourself (GMGN doesn't collect those, they go to validators and private nodes to speed up your transaction). Token launch platforms like Pump.fun add their own separate fee on top, which GMGN simply passes through. GMGN also documents an Anti-MEV submission mode with off, reduced, and secure protection levels, so you can trade the sandwich-attack risk against speed depending on how the mempool looks that day. On the referral side, GMGN pays a single-tier commission of 10% to 30% of the fees your referrals generate, and the rate rises the more trading volume you bring in; GMGN's own marketing cites members clearing 40+ SOL a month once their referred group is active, with a form to apply for a higher rate. There's no subscription tier and no KYC step described anywhere in the flow, matching the rest of the sector.
What Rayo does differently
Rayo is a Telegram trading bot built specifically for Solana. The fee is 1%, dropping to 0.9% when you trade through an invite link. Where Rayo pulls ahead is the referral structure: instead of one commission tier, Rayo pays out across five levels of referrals for a combined 38.5%, so the people who bring in active traders keep earning as those traders bring in their own, not just the trader they invited directly. Every swap routes through Jupiter for execution, and before you can buy, Rayo runs its own checks for freeze authority, Token-2022 transfer hooks and transfer fees, permanent delegate risk, and whether the token actually has a working exit route, showing you the exact quote before you confirm rather than an estimate you find out about after the fill. Your PNL is calculated net of every fee, the swap, the priority fee, and slippage, and it's exportable as a CSV, so a losing trade that looked profitable on paper shows up as a loss where it actually happened. Rayo also comes with its own built-in wallet with an exportable private key, wallet tracking on any address you paste in, and copy trading, and now runs limit buy, take-profit, stop-loss, and trailing stop, set right after a buy or from the token card and managed with /orders. What Rayo doesn't have yet is a web app or MEV protection, which live on GMGN's side of this comparison, and DCA, which neither one offers.
Who should use which
If you trade across Ethereum, BSC, Base, or Tron as well as Solana, or you want MEV protection or a browser terminal with multi-chart layouts, GMGN's feature set covers ground Rayo doesn't touch yet. GMGN also makes sense if you want token discovery baked into the same tool you trade from, scanning Trending and New Pair feeds without switching apps. If you trade Solana memecoins specifically, care about a referral structure that pays out five levels deep instead of one, and want your PNL and CSV statements already net of every fee without doing the math yourself, Rayo is built around exactly that. Traders who got burned by a trade that showed +40% on screen but still lost money once fees and slippage were counted tend to feel the difference here.
How to switch or use both
Moving to Rayo takes one step: open the bot in Telegram, and it generates your own Solana wallet with an exportable private key, so you control your funds from the first message. There's no account migration and nothing to import from GMGN unless you choose to send SOL over from an existing wallet, and you can do that at any point, not just on day one. Plenty of traders run both side by side rather than picking one: GMGN for multi-chain scanning and MEV protection across Ethereum, BSC, Base, or Tron, and Rayo for Solana execution, its own price-triggered orders, five-level referral earnings, and fee-inclusive PNL tracking on that chain. Since both are non-custodial and neither locks you into a subscription, switching between them or splitting activity across the two costs nothing beyond the swap fee itself.
Side by side
Get GMGN's referral link
10% to 30% back for whoever referred you, paid in fee rebates.
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Sources
- https://docs.gmgn.ai/index/gmgn-fees-settings
- https://docs.gmgn.ai/index/quick-start
- https://docs.gmgn.ai/index/ca-security-checks
- https://docs.gmgn.ai/index/referral-link
- https://docs.gmgn.ai/index/cooperation-referral-refer-friends-to-earn-rebate-30-rebates-easily-earn-over-usd8000-monthly
- https://docs.gmgn.ai/index/wallet-detail-page
- https://docs.gmgn.ai/index/wallet-radar
- https://docs.gmgn.ai/index/copy-trade-copy-smart-money-automatically-earn-sol
- https://docs.gmgn.ai/index/auto-trading-quick-buy-take-profit-stop-loss
- https://docs.gmgn.ai/index/x-tracker
- https://docs.gmgn.ai/index/cooperation-api-integrate-gmgn-solana-trading-api
- https://docs.gmgn.ai/index/cooperation-api-integrate-gmgn-eth-base-bsc-trading-api
- https://docs.gmgn.ai/index/tg-wallet-import-export-private-key-deposit-withdraw
- https://rayotrade.com
Frequently asked questions
Is GMGN or Rayo cheaper to trade with?
Both charge 1% per swap by default. Rayo drops to 0.9% when you trade through an invite link; GMGN's discount instead comes back to whoever referred you, as a 10%-30% rebate on your fees rather than a lower rate for you.
Does Rayo support the same chains as GMGN?
No. GMGN covers Solana, Ethereum, BSC, Base, and Tron. Rayo is Solana-only, which is where its wallet tracking, copy trading, and fee-inclusive PNL are focused.
Does Rayo have limit orders like GMGN?
Yes. Rayo runs limit buy, take-profit, stop-loss, and trailing stop, set right after a buy or from the token card and managed with /orders, the same order types GMGN offers.
Can I track wallets and copy trades on Rayo the way I do on GMGN?
Yes. Rayo lets you paste any Solana address to track it and offers copy trading to mirror another wallet's buys, the same category of feature as GMGN's Wallet Radar and Copy Trade.
Does Rayo check a token for safety before you buy, like GMGN's CA Security Checks?
Yes, with a different set of checks. GMGN's CA Security Checks look at mint authority, blacklist function, burnt liquidity, and rug probability/history. Rayo checks freeze authority, Token-2022 transfer hooks and transfer fees, permanent delegate risk, and whether the token has a working exit route, and shows you the exact quote before you confirm.