Which chain is Raydium based on?

As a keen observer of the cryptocurrency and decentralized finance landscape, I'm curious to know: Which blockchain protocol does Raydium leverage for its operations? Given the vast array of blockchain options available, from Ethereum to Solana and beyond, it's crucial to understand the foundational technology that underpins a project's functionality and scalability. Understanding Raydium's base chain can provide insights into its transaction speed, cost-efficiency, and potential for future growth. So, which chain does Raydium rely on to power its decentralized exchange and other financial services?