Raydium has introduced LaunchLab, a new token launchpad to compete with Pump.fun. The announcement of this platform last month has garnered excitement from the community.

The competition between Pump.fun and Raydium in the Solana ecosystem has been intense. Pump.fun recently launched its decentralized exchange, and now Raydium has followed suit with its own launchpad.

Raydium is strengthening its presence in the Solana ecosystem with the release of its Launchpad. The platform is set to benefit from the resurgence of Solana meme coins, which are experiencing increased trading activity and rising token values. Raydium's new project features a comprehensive launchpad service that supports various tokens beyond just meme coins, allowing for direct trading on the exchange.

The LaunchLab by Raydium is positioned as an all-in-one token launchpad catering to creators, developers, and the community. The platform boasts features like JustSendIt mode, with a seamless on-chain token creation process that incurs no migration fees or gatekeepers. This launch by Raydium has caused excitement among the community, resulting in a 10% rise in RAY token value.

Raydium has also outlined its commitment to ecosystem development by allocating trading fees generated through Launchpad. A portion of these fees will fund RAY token buybacks, while the rest will contribute to a Community Pool and Program fee, offering various incentives to users. Token creators using the Launchpad can earn a percentage of trading fees post-graduation and receive SOL tokens for referring new users, along with other beneficial features.