- Raydium is reportedly working on a Pump.fun rival called LaunchLab
- The development comes a few weeks after Pump.fun announced its own AMM model
- LaunchLab will be ideal for Pump.fun users who want to use “Raydium’s AMM v4 for pool migrations”
Raydium, a leading Solana DEX, is working on a Pump.fun rival called LaunchLab according to sources familiar with the development. Although Raydium doesn’t portray the platform as a direct rival to Pump.fun, the development comes a few weeks after Pump.fun announced its own automated market maker (AMM) model that would essentially see it stop using the DEX’s AMM. LaunchLab will accommodate the memecoin project’s users still interested in using its AMM model and those looking for a non-technical platform to “develop their own programs from scratch,” something that seems like a retaliatory move against the memecoin platform for ditching its AMM.
Token Developers To Set Fees and User Interfaces
Speaking to Blockworks, sources familiar with the development said LaunchLab will let token developers dictate the fees and create customized user interfaces. LaunchLab will also implement bonding curves that respond to a token’s price and demand.
According to Infra, an anonymous Radium contributor, the Solana DEX had previously halted LaunchLab’s development to avoid competing with other teams in its ecosystem. Infra added that Raydium feels like Pump.fun’s success was partly due to the DEX’s infrastructure.
Infra also told Blockworks that LaunchLab will support multiple tokens, adding that the platform is among other token-creation tools in Raydium’s pipeline.
Memecoin Fans Ditching Pump.fun?
The development comes as Pump.fun is experiencing a decline in usage. Three weeks ago, for example, a report emerged showing that new token listings on the memecoin platform had plummeted by over 80%. The decline was attributed to tokens failing to complete the bonding curve or reach an initial market capitalization of $69,000.
It also comes four months after the platform was forced to deactivate its livestreaming feature due to community backlash. The platform is also facing rivalry from similar projects cropping up on Bitcoin, BNB Chain, and Solana.
With Raydium seemingly responding to Pump.fun’s ditching its AMM model, it’s likely that Pump.fun will retaliate by completely cutting ties with Raydium.
