Raydium's Ray jumps 13% when Dex reveals his token issuing platform

Solana-based decentralized exchange Raydium is set to launch its own token issuance platform in the coming weeks, and drive more revenues to its already popular trading services.

Raydium's native Ray tokens have risen 13% over the last 24 hours, breaking a 1.62% increase in the broader markets tracked by the Coindesk 100 (CD100) index.

Raydium's LaunchLab initially resembles the hit token issuing platform Pump.fun. Developers say there are a few extras that add some attractive features to launching tokens.

LaunchLab has three types of bonding curves that match the demand and price of tokens, allowing third-party UISs to set the price. The binding curve is an automatic system that adjusts the price when the token is bought and sold on DEXS.

Raydium Developer @0xinfra said in a post on X that it's easy to add services to applications that already use RayDium's existing services, such as AMM V4, CP-SWAP, and CLMM pools.

“We're not here to compete with LaunchPad, which currently uses Raydium. LaunchLab makes it easier for teams to launch tokens on the chain and provide neutral and allowed infrastructure,” he said.

Raydium currently generates more than $1 million in fees daily from trading across Pump.Fun Tokens as well as all liquidity pools. However, according to Dune Dashboard, more than 30% of Raydium's daily trading volume occurred at the time of Pump.Pump.sporuth.

Pump.Fun allows anyone to issue tokens with capital of less than $2. Then select and attach the number of photos for the token, theme, and meme. These tokens are automatically listed for trading on Raydium after reaching a market capitalization of $69,000.

However, in late February, Pump.Fun appears to have been moving away from using Raydium as a mobile platform by launching the AMM tool (which means Tokens can trade more with pumps instead of Raydium).

The two teams have not implemented any official partnerships and have not publicly commented on recent developments.

Meanwhile, @0xinfra shut down early rumors that Launchlab is just a Pump.fun Fork.

“Not a pump fork, LaunchLab's POC UI mimics it for familiarity, but it's much more versatile,” he said in X Post. “This is the first of the ongoing suite of tools to tackle a variety of fluidity needs. It's open to feedback and collaboration on custom models. It's not about stealing users of pumps, it's about enriching Solana,” he added.