While memecoins are far from their former glory days, another altcoin announced that it will launch a token issuance platform after Solana (SOL) and Tron (TRX).
Accordingly, Solana-based decentralized exchange Raydium announced that it will launch its own token issuance platform, LaunchLab, to increase its revenues and user base.
Raydium’s LaunchLab will initially be similar to popular memecoin issuance platform Pump.Fun, but the developers have noted that it will have several additional features that will make Launchlab more appealing.
Raydium developer Infra said that the LaunchLabs project will allow anyone to run cryptocurrencies on Solana.
Infra also stated that they have no intention of competing with Pumpfun or other platforms, saying, “We are not here to compete with launchpads that currently use Raydium. LaunchLab makes it easy for teams to launch on-chain tokens and provides a neutral, permissionless infrastructure.”
The reason behind Raydium’s introduction of this new token launch platform has been attributed to conflicts with PumpFun, as Solana memecoin issuance protocol PumpFun hinted last month that it was developing its own market maker and that its partnership with Raydium, which served as a market maker, would be coming to an end.
Following the Launchlab news, Raydium's native token, RAY, has increased by up to 13% in the last 24 hours.
Adding some more color here…
LaunchLab is launching as a permissionless, customizable bonding curve program for Solana token launches and third-party UIs
Here’s the deep dive on what’s coming: (1/7) https://t.co/Cs1FZ4UEJz
— Infra | Raydium (@0xINFRA) March 19, 2025
*This is not investment advice.
