Raydium’s New Token Launchpad to Compete with Pump.Fun

BE[IN]CRYPTO
17 Apr
  • Raydium introduces Launchpad, a token launch pool aimed at competing with Pump.fun, sparking community enthusiasm in the Solana ecosystem.
  • The platform allows creators to launch tokens seamlessly, with liquidity migrating instantly to Raydium’s AMM, promoting ease of use and no migration fees.
  • Launchpad’s trading fees will fund ecosystem development, with 25% dedicated to RAY buybacks and 75% going toward a Community Pool, benefiting both creators and users.

Raydium is releasing LaunchLab, a new token launchpad to compete with Pump.fun. The exchange announced this platform last month, and its full release has sparked community enthusiasm.

Pump.fun and Raydium have been locked in an intense competition in the Solana ecosystem. Last month, Pump.fun launched its own decentralized exchange, and now Raydium has introduced its own launchpad.

Raydium Increases Solana Dominance with new Launchpad

Raydium, Solana’s largest decentralized exchange, has the opportunity to make some serious gains in the near future. Solana meme coins are eyeing a comeback with heightened trade volumes and rising token prices, and the firm is releasing a long-awaited project.

Although it will compete with Pump.fun, Raydium’s launchpad services look more extensive. They will allow all kinds of tokens to be launched, not just meme coins, and these tokens can be directly traded on the exchange.

“Introducing LaunchLab, Raydium’s all-in-one token launchpad. Built for creators, developers, and the community. Get started with JustSendIt mode: launch a token, hit 85 SOL, [and] liquidity migrates to Raydium’s AMM INSTANTLY. Seamless, on-chain token creation. No migration fee. No gatekeepers,” the firm claimed in its launch announcement.

Pump.fun is the most popular meme coin launchpad on Solana, and its business has been intertwined with Raydium in a few ways. Since it launched Pumpswap, its own DEX, both exchanges have fueled a meme coin frenzy.

A month and a half ago, rumors that it was testing an AMM made Raydium’s RAY token drop significantly.

Last month, however, this same asset soared when Raydium first announced Launchpad. Pump.fun entered the DEX sector, and Raydium is enabling users to launch their own meme coins.

Since this launch announcement took place, RAY spiked around 10%, signifying the community’s enthusiasm.

Raydium (RAY) Daily Price Chart. Source: BeInCrypto

There may be another explanation for this token rally in addition to community hype. Raydium also mentioned that all of Launchpad’s trading fees will go towards ecosystem development.

More specifically, 25% of these fees will directly fund buybacks of RAY tokens, while the other 75% go towards a Community Pool and Program fee.

These other funds can enable a few generous user incentives. Raydium claimed that Launchpad token creators can earn up to 10% of trading fees from the AMM pool post-graduation, and users can also receive SOL tokens from referring new clients. Token creators will also enjoy several other quality-of-life features.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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