Can LaunchLabs Challenge Pump.fun’s Dominance?

Raydium, Solana’s biggest decentralized exchange, has debuted its eagerly-awaited no-code token deployer, LaunchLabs.

With customizable token supplies, vesting schedules, and creator rewards, LaunchLabs is bringing some much-needed versatility to the token creation process.

What separates LaunchLabs and its greatest rival, pump.fun, and how will Raydium’s newest product support $RAY buybacks?

LaunchLabs Goes Live

Raydium has evolved considerably in 2025. After dominating Solana’s DEX market throughout 2024, Raydium has responded to growing competition by expanding its product suite. After launching perpetual markets in January, Raydium has finally debuted LaunchLabs, a basic token creator application designed to reimagine the pump.fun experience.

Raydium’s new product offers two unique token creation pathways. Similar to pump.fun’s invariable supply and bonding curve mechanic, “JustSendIt” module is the fastest way to deploy a memecoin on Raydium. All coins launched through “JustSendIt” have a set supply, and will migrate directly to the Raydium DEX after fulfilling an 85 $SOL bonding curve.

LaunchLabs, on the other hand, gives deployers much more flexibility. Creators can select their token’s total supply and graduation value, as well as customizing liquidity migrations and token vesting schedules.

Additionally, creators can also opt to receive 10% of all LP fees generated from the AMM pool after their token graduates from the bonding curve. LaunchLabs has already been integrated widely into Solana’s trading ecosystem, with apps like Photon, Trojan, and BullX supporting the platform at launch.

Raydium representative Infra has implied that this is first iteration of the LaunchLabs, with future instalments expected to provide a more expansive range of customized products

LaunchLabs to Supplement $RAY BuyBacks

As expected, LaunchLabs will allocate a portion of accrued fees to $RAY buybacks. Like its main rival pump.fun, Launchlabs charges a 1% fee on all trades that occur while a token is still in its bonding curve. 25% of this fee is then programmatically directed towards buybacks supporting Raydium’s native asset, $RAY.

Since its debut in April 2022, Raydium’s buyback program has been used to spend over $178M worth purchasing $RAY tokens. While it can be difficult to predict how much additional funds LaunchLabs could contribute to $RAY buybacks, comparing the fee model against pump.fun’s current volume can give us a loose estimate.

According to DefiLlama data, pump.fun has processed $136M in volume pre-PumpSwap migration over the last 24 hours. If LaunchLab successfully siphoned half of pump.fun’s bonding curve volume ($68.09M), it can be estimated that $170k (25% of LaunchLabs’ 1% trading fee) would be used supplement $RAY buybacks on a daily basis. 

This would provide a welcome boost to Raydium’s buyback program, which has typically fluctuated between $80k-120k in daily volume so far in April. However, whether or not LaunchLabs can siphon market share from pump.fun remains to be seen.

The Trenches React

Within the first few hours of launch, Solana’s meme economy has shared mixed reactions to Raydium’s LaunchLabs. Notorious crypto personalities like 3AC co-founder Zhu Su have asserted that LaunchLabs is pump.fun’s first viable competitor.

Meanwhile, while some traders have expressed frustration with the platform, blaming Raydium because a memecoin they purchased lost value.

Other social media personalities have been more thoughtful. Commending LaunchLabs composability, one commentator remarked that the two platforms would ultimately be used for different styles of token launches.

Markets, on the other hand, have reacted positively to the launch. According to DexScreener data, $RAY is up 11.41% on a daily time frame, currently exchanging hands at $2.33.

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