Remains of ray-fin fish form a minor component of the fauna at Waterloo Farm, and have not been formally described. Typically for the Devonian, ray fins are not nearly as numerous as the placoderms and lobe fins amongst the Waterloo Farm fauna. Following the end Devonian extinction, however, ray-fins diversified into the many vacant niches, becoming the dominate aquatic vertebrate in the Early Carboniferous Period. This group includes the majority (85 %) of fish that we know today.
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