PumpFun Competitor Raydium Launches Another Meme Coin Launchpad With Bonk – Whats Happening

The new launchpad built with Raydium's LaunchLabs can be a mere debut for Bonk but for Raydium, it is a "smart move". See how

Published by

Sneha Agrawal

April 28, 2025

PumpFun Competitor Raydium Launches Another Meme Coin Launchpad With Bonk – Whats Happening

Raydium’s Smart Move:- The race to tap on the potential of memecoins is outdated.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, LetsBonk allows users to create and launch their memecoins.

LetsBonk launch comes after Raydium launched its own memecoin launchpad, LaunchLabs last week.

Raydium Launches Another LaunchPad – Whats Happening

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 memecoins 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.

We’re proud to partner with @RaydiumProtocol’s new LaunchLab contract—so you get instant access to Raydium pools and bot integrations from day one.https://t.co/YRGAhlNDki users are also eligible for the LaunchLab Prize Pool with 50k $RAY already up for grabs.

— Letsbonk.Fun (@bonk_fun) April 25, 2025

Interestingly, 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 on April 25, 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 UI 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 Raydium’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 launch of LetsBonk with the help of Raydium signifies that it is helping other projects to build their own launchpads 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 with over 4k tokens launched within 24 hours 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: For BONK and users, the LaunchLab–built platform can be just another place to debut a memecoin. But for Raydium, it’s a strategic move that will affirm its place in market and drive new user engagement.

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About Author

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Brandtalk section, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.