WOO X Research: Raydium vs Pump Fun, does LaunchLab really have a wealth creation effect?

Raydium is the top Dex on Solana, and Pump Fun is the biggest Launchpad. Interestingly, although each other has different tracks and businesses, they still attack each other and try to fight for more revenue.

First, Pump Fun launched PumpSwap, which has recently stabilized its daily trading volume at 400 million USD, approaching Raydium’s 600 million USD daily trading volume. Raydium’s officials have pointed out that Pump Fun contributed up to 41% of its AMM revenue in the past month, but after Pump Fun built PumpSwap, Raydium’s traffic significantly decreased, forcing it to launch LaunchLab to “reclaim liquidity dominance.”

What are the differences between LaunchLab and Pump Fun? What noteworthy projects are there? Let WOO X Research show you.

LaunchLab Basic Introduction

The LaunchLab launched by Raydium is essentially a “no-code token issuance tool + automated liquidity migration service,” with two main usage modes:

JustSendIt Mode: Allows users to create tokens with one click, preset to raise 85 SOL. After successful fundraising, it will automatically migrate to Raydium’s AMM, and burn LP tokens to achieve liquidity lockup.

LaunchLab Pro Mode: Customizable total supply, customizable minimum fundraising of 30 SOL for issuance, bonding curve slope, vesting conditions, and whether to enable AMM profit sharing (up to 10% transaction fee can be returned to the project team).

In terms of the fee structure, Raydium uniformly charges a 1% base fee, of which 50% goes to the Community Pool, 25% is used for $RAY buybacks, and 25% is allocated for infrastructure and operational funds.

LaunchLab also allows third-party interfaces to connect to its backend services to establish their own token issuance front end. The most well-known among them is cook.meme.

cook.meme is the first “meme token platform” that uses the LaunchLab contract but has its own UX front end, featuring zero fees, instant trading, and a simple UI. It attracted many developers to try it out as soon as it launched, positioning itself somewhat like a UI copy of Pump Fun, but with liquidity bound to Raydium.

Raydium adopts this open model not only to attract traffic but also to replicate the content and ecological flywheel built by Pump Fun through the community front end in those years.

LaunchLab V.S Pump Fun

Key Projects

LaunchLab is now live, and the most direct benefit is the 25% repurchase of $RAY( fees, while the price of $RAY has increased by about 8% after the announcement of LaunchLab. If LaunchLab can maintain its momentum, the repurchase力度 of $RAY will also increase, leading to opportunities for price increases when demand exceeds supply.

The lifecycle of the LaunchPad depends on how many “golden dogs” can be produced. When the platform continuously generates wealth effects, user assets will naturally concentrate on that platform. After the assets become dense, the probability of producing golden dogs will also increase, ultimately forming a positive flywheel closed loop.

Therefore, the first step of the flywheel is to have the Golden Dog, but unfortunately, within 24 hours of LaunchLab going live, only the graduation token $TIME had a market value exceeding 1 million dollars. Other tokens like $ARUA, $Gaydium, etc. soared in market value during the initial launch, but ultimately, the market forces determined to raise the market value of a single token.

So what are the narratives of $TIME, $ARUA, and $Gaydium?

As mentioned above, Raydium allows third parties to connect to their routing platforms and issue coins, and currently Raydium, Cook.meme, and Pump Fun Robinhood are currently working with them, and $TIME is the first meme coin created by Cook.meme; Raydium’s own coin is $ARUA, which was launched earlier than $TIME but was launched later.

$Gaydium, aside from the pun, is a situation where the developers of Raydium placed the contract address of $Gaydium on the Rytdium GitHub, but it was deleted less than an hour later, which caused the token to plummet.

$TIME

Current Market Value: 6 million

Highest market cap: 8.5 million

24 HR trading volume: 30.2 million

Number of holders: 7,600

Conclusion

Raydium’s LaunchLab seems like a “late counterattack,” but its overall design has systematically responded to the advantages of Pump Fun, not only providing a customizable token issuance model but also expanding an open front-end strategy represented by cook.meme, with the goal of bringing traffic, transaction fees, and narrative back to the Raydium ecosystem.

But whether LaunchLab can truly create wealth and reignite a wave of meme frenzy still depends on three core elements:

Whether it can produce strong viral projects;

Are the fee and liquidity design friendly to retail investors?

Can the ecosystem quickly gather frontend tools and create network effects?

Although it seems that all three factors still need improvement at the moment, LaunchLab has only been open for less than a month, and it would be too hasty to declare the platform a failure because of this. The cryptocurrency world is ever-changing, and perhaps the next hundred-fold meme will be born in LaunchLab; let’s wait and see.