The company behind Solana-based automated market maker (AMM) Raydium has launched LaunchLab, the Memecoin Making Protocol, which is considering competing with Pump.fun.
The launch pad arrival on April 16th came a month after Pump.Fun, previously a key contributor to Raydium’s revenue, but it cut ties with the company by moving the token transition from Raydium’s liquidity pool to Pumpswap, its own new decentralized exchange.
LaunchLab aims to take advantage of Raydium’s liquidity pool and abdicate the pump.
Raydium said LaunchLab will provide Memecoin enthusiasts with a customizable bonding curve and transition fee, with the token (currently worth $11,150) raising 85 Solana (SOL) moving immediately to Raydium’s AMM.
According to the LaunchLab platform, around 10 LaunchLab tokens have already exceeded this threshold.
Raydium said tokens can be started for free, and creators can opt-in to earn 10% of their trading fees from the AMM pool after graduation.
LaunchLab’s transaction fees are set at 1%, and 25% of these fees will be used to buy back Raydium (Ray).
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The news sparked a surge in price of nearly 14% for ray tokens, reaching $2.41 four hours after the announcement and returning to $2.21 at the time of writing, Coingecko data shows.
Tear pump wap volume
After posting $460 million on April 17, Pumpswap’s daily record in trading volume has been broken for five consecutive days.
The April 17th tally shows a merely shut down the $454.9 million trading volume seen on April 16, bringing the four consecutive days of over $400 million.
Pumpswap has now processed $7.3 billion worth of volume since its launch on March 22nd, Defillama data shows.
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