Raydium announced the launch of a new memecoin platform, LaunchLab, aimed at reclaiming lost ground in the meme token market following a split with Pump.fun.
Launch of LaunchLab
LaunchLab was introduced on April 16, just a month after Pump.fun severed ties with Raydium, moving its token liquidity to its own platform, PumpSwap. This has set the stage for direct competition in the market.
Advantages of LaunchLab
The platform offers creators of memecoins unique features: customizable bonding curves, no migration fees, and instant migration to Raydium’s AMM for tokens raising at least 85 SOL, approximately $11,150 at current prices.
Market Reaction and Future Competition
The market reacted swiftly to the news, with RAY rising nearly 14%, reaching $2.41. Meanwhile, PumpSwap, the new project from Pump.fun, also recorded significant trading volume, hitting $460 million.
The launch of LaunchLab could reshape competition in the DeFi space, particularly given the recent intensification of rivalry between Raydium and Pump.fun.
