Raydium and Bonk Launch A New Memecoin Launchpad Platform To Support Solana

The race to tap on the potential of memecoins is outdated. Now, web3 projects are racing to build and scale meme launchpads, the platforms that allow users to create and launch their own memecoin.

The centre of this fierce race have become the two leading competitors – Raydium and PumpFun. Both have launched and upgraded their memecoin lauchpads respectively in the last month.

Now, in another major stride by Raydium, it has collaborated with the leading meme project, BONK. Solana DEX Raydium and BONK have come together to launch their new memecoin lauchpad platform, LetsBonk.Fun. As the meme launchpad, it allows users to create and launch their memecoins.

Before discussing the new platform, it is important to note that this launch marks a significant evolution in the market trend. Earlier, there was a race to launch mass memecpins and now the focus has shifted to the launchpads that create them.

The new Bonk platform, LetsBonk, allows users to launch their own memecoin on Solana without coding. Users can simply connect a Solana wallet, fill in token details such as name, symbol, supply as per their choice. Users are then required to customize settings like liquidity and taxes, and pay a small fee in BONK.

Tokens can then immediately integrate with Raydium’s LaunchLab for liquidity and trading. The platform also offers features like liquidity locking to build investor trust.

Interesting, a portion of the platform fees will be used to support BONK buybacks and Solana network security. Letsbonk.Fun aims to democratize token creation while promoting transparency and sustainability within the Solana ecosystem.

Bullish Market Reaction

Since its launch, Letsbonk.Fun has witnessed significant engagement. Within the first 24 hours, the platform has attracted approximately 800,000 visitors and facilitated the creation of over 2,700 tokens.

Among these, more than 70 have been successfully launched.

Notably, the platform’s namesake token, LetsBONK, achieved a market cap of more than $30 million within just six hours of its debut.

Serious Player Or A Marketing Move?

The close integration of LetsBonk with Raydium has lead users raising certain questions. Few view this as a “smart play” by Ray to promote its own platform. Due to similarities in UX of both the platforms, few are calling the new launchpad nothing but Launchlabs.

A user on X highlighted the same program ID for creating tokens on both LetsBonk and Raydiu

\m’s Launchlabs. Another highlighted that only changing the colour won’t bring up a new platform.

However, few analysts are hinting at a bigger strategy by Raydium to beat the monopoly of PumpFun in memecoin creator segment. They argue that it with its platform, LaunchLabs, it is helping other projects to build their own via Launchlabs.

This strategy indirectly supports asset issuance, a core strength that drove Raydium’s success. Unlike AMM, this business moat is less prone to commoditization, offering a more sustainable competitive edge,” said an analyst.

In this way, it is indirectly competing with PumpFun. Notably, on April 26, Raydium’s LaunchLab had its biggest day so far with over 4k tokens launched in a single day of LetsBonk launch.

More than half of these tokens were from Bonk‘s new launchpad (letsbonkdotfun) that is built on top of Raydium Protocol‘s LaunchLab. There was total of $25m in trading volume on Day 1 of its launch.

 

Thus, one thing can be concluded: the new platform built with Raydium’s LaunchLabs can be a mere launch for Bonk
But for Raydium, it is set to serve as a boost for its own platform.

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