Is Raydium built on Solana?

Could you elaborate on whether Raydium is indeed built on the Solana blockchain? It's crucial for investors and enthusiasts alike to understand the underlying infrastructure of such projects. Solana, as a highly scalable and performant blockchain, has gained significant traction in recent times. If Raydium leverages this technology, it could potentially offer faster transaction speeds and lower fees. Could you clarify if this is indeed the case, and if so, how does it impact the user experience and overall functionality of Raydium?