Solana-based decentralized exchange Raydium is set to start its own token issuing platform in the coming weeks to generate more revenue for the already popular trade service.

Raydium’s original Ray token has increased by 13% over the last 24 hours and beats a 1.62% gain in the wider market traced by Coindesk 100 (CD100) index.

Raydium’s launchlab will originally look like Hit Token Issuing Platform Pump.Fun, Blockworks reported first. Although developers say it will have more added features that make it more appealing to token launches.

Launchlab will have three types of bonding curves that match demand and price for a token and lets third -party uis set their fees. An bonding curve is an automatic system that adjusts prices as symbols are purchased or sold on DEXS.

Raydium Developer @0xinfra said in an X-post that the service could easily be added to applications that already use Raydium’s existing services-such as AMM V4, CP-SWAP, CLMM pools.

“We are not here to compete with Launchpads, which currently uses Raydium-Launchlab makes on-chain token launch easier for teams offering a neutral, permitted-free Infra,” he said.

Raydium is currently generating over $ 1 million in fees each day from trading across all its liquidity pools, not just pump.fun -tokens. However, over 30% of Raydium’s daily trading volume from Pump.Fun -tokens from February came, according to a dune dashboard.

Pump.Fun, which lets anyone issue a token for less than $ 2 in capital, after which they select the number of tokens, theme and meme image to accompany it. These symbols are automatically displayed for trading on Raydium after reaching a market value of $ 69,000.

But at the end of February, pump.Fun apparently moved away from using Raydium as its migration platform by launching its AMM tool (which means tokens would be available for further trade in pump instead of Raydium).

The two teams do not have an official partnership in place and have not publicly commented on recent development.

Meanwhile, @0xin from early rumors closed that launchlab is a pure pump.fun fork.

“Not a pumping fork, Launchlabs POC UI mimics it for confidentiality, but it’s far more versatile,” he said in X Post. “It’s the first of a tool suite – several models in the process of tackling different liquidity needs. Open for feedback and collapse for custom models. Not about stealing pump users – it’s about enriching Solana,” he added.