Newton Gitonga
Solana’s leading decentralized exchange, Raydium, has officially released LaunchLab, an “all-in-one token Launchpad” for developers, creators, and the entire Web3 community.
Introducing LaunchLab, Raydium’s all-in-one token launchpad.
Built for Creators, Developers, and the Community 🫡
More info ⬇️
The move represents the latest escalation of the battle between Solana products Raydium and Pump.fun, which used to work together.
Raydium hinted at LaunchLab in mid-March and promised unique features that will rival Pump.fun.
One of these functionalities includes using 25% of LaunchLab’s transaction fees to buy back DEX’s native coin, RAY.
Raydium and Pump.fun’s rivalry
Notably, Pump.fun offers a platform that enables enthusiasts to create and launch meme tokens with a few clicks.
It grabbed the crypto community’s attention after plans to launch its DEX PumpSwap, which meant no longer relying on Raydium.
Before PumpSwap’s launch, digital coins created on Pump.fun graduated to Raydium before arriving on leading trading platforms such as Binance and Coinbase.
However, PumpSwap changed this, underscoring Pump.fun’s motive to enjoy its volume, liquidity, and culture in Solana’s diverse meme world.
Thus, Raydium’s LaunchLab represents a counterstrike.
While Pump.fun faced criticism over encouraging pump-and-dump projects, LaunchLab prioritizes serious builders launching assets with long-term potential.
Raydium’s latest offering is more than a token launch tool. It boasts incentives to encourage creators.
For instance, repurchasing RAY through 25% of transaction fees will bolster the altcoin’s growth.
Further, developers will enjoy enhanced distribution. The team stated:
LaunchLab helps teams iterate faster while providing distribution on day 1. Integrated launchpads will have tokens created on their platform visible with all trading terminals and apps while also appearing on the LaunchLab UI.
Bolstering RAY’s use cases
LaunchLab looks to enhance RAY’s utility beyond farming and staking with new dynamics – transaction-fueled demand.
All activities on the new tools, including asset launches and swaps, contribute to fees.
Meanwhile, the project will use a quarter of these fees to repurchase the native token.
That matches LaunchLab’s projected success with RAY’s growth in the coming times.
As the Solana meme coin scene expands, Raydium looks to benefit while ensuring a rewarding and more structured ecosystem for developers and digital assets enthusiasts.
Token creators will enjoy access to institutional-grade Launchpad while tapping Raydium’s liquidity and status as Solana’s top DEX.
RAY price outlook
The news catalyzed bullish reactions from the native token.
While the market sees mixed performances, RAY saw a sudden 12% jump on its daily chart to trade at $2.40.
The over 200% surge in 24-hour trading volume highlights renewed interest in the altcoin.
As LaunchLab gains popularity in the crypto sector, all eyes will remain on the ecosystem’s response and RAY’s potential price actions in the upcoming sessions.
