Does LaunchLab charge a fee to create a token?

Raydium's LaunchLab docs do not publish a flat fee for creating a token. They describe fees on trading instead: each buy and sell on the curve carries a fee that can differ per launch, and a third-party platform can charge its own fees on top. After graduation, fees follow the CPMM config chosen for the pool.

Is the Raydium Protocol available in the USA?

No. The disclaimer on raydium.io lists the USA among the places where the Raydium Protocol is not available, together with several other countries and regions and any other jurisdiction where using it is prohibited. Anyone using the interface represents that they are not located in or a resident of those jurisdictions.

Can a graduated token go back to the bonding curve?

No. Raydium's docs describe graduation as a one-way gate. Once a token has moved to the CPMM pool, a later fall in its pool price does not send it back to the curve, and trading simply carries on in the pool.

Does pump.fun charge extra for trades in its own app?

Yes. From 17 October 2026, trades placed through the pump.fun web app or mobile app carry a Platform Fee on top of the protocol, creator and LP fees. The rate is 0.45% of the trade for a wallet with no referral code and 0.40% for a wallet that has applied another user's referral code.

Raydium LaunchLab: how it works and how it compares

Raydium LaunchLab is Raydium's token launchpad on Solana. A creator deploys a token against a bonding curve, buyers send a quote asset such as SOL or USDC to the curve, and once the curve has collected enough, the token graduates to a Raydium CPMM pool where trading continues. Since its September 2026 upgrade, Raydium's docs describe every new launch as CPMM-only, and third-party platforms can build their own launch pages on it.

What is Raydium LaunchLab?

Raydium LaunchLab is the part of Raydium that lets a creator start a token without first funding a trading pool. Earlier launches on Raydium needed the creator to put in liquidity for both tokens before trading could start. LaunchLab replaces that step with a bonding curve, and the overview page of Raydium's docs says no pre-seeded liquidity is required.

The Raydium site is made available by the Raydium Holding Foundation, and transactions run through permissionless smart contracts.

As of 28 October 2026 the docs record two recent changes. For migrations after the 17 August 2026 upgrade, the platform's and the creator's shares of the liquidity are locked together and one Fee Key goes to the platform's wallet; before it, the creator's share came with a Fee Key of its own. The September 2026 program upgrade rebuilt LaunchLab, and the docs say trading, fees and vesting are unchanged by it.

How does a LaunchLab launch work?

A LaunchLab launch follows one fixed sequence, and every launch passes through it exactly once.

Stage	What happens
Initialize	The creator deploys the token against the curve and sets the curve parameters and graduation threshold
Buy and sell	Traders buy from and sell to the curve
Graduate	When the quote collected reaches the threshold, the program opens a CPMM pool funded with the base and quote amounts the curve holds
CPMM pool	Trading moves from the curve to the pool

The quote asset is SOL, USDC or RAY, fixed when the launch is set up. The docs list three curve shapes: constant-product, linear-price and fixed-price. They also describe constant-product as the default and the only live type, and the bonding curve page walks through its math.

Fees apply at both stages. Each buy and sell on the curve pays a fee that is split between the curve's own liquidity, the protocol and, optionally, the creator. The exact split can differ per launch. After graduation, fees follow the CPMM config the pool was created with, typically the 0.25% tier. The creator fees page covers who can claim what.

How do third-party platforms fit in?

A platform is a third-party launch environment built on the LaunchLab program, so tokens from different platforms still settle on the same program. Each platform can carry its own branding, add its own fees on trades and set how its tokens migrate after the curve.

Platforms cannot add custom curve math: they pick from the curves the program already supports, and the program itself decides when a launch graduates. The platforms page lists the fields a platform controls.

How does LaunchLab compare with pump.fun?

LaunchLab and pump.fun both launch tokens on a bonding curve and then move them into an AMM pool, and they differ in curve options, graduation destination and who makes the product available. The table fills each criterion from the project's own pages.

Criterion	Raydium LaunchLab	pump.fun
Made available or operated by	Interface made available by the Raydium Holding Foundation	Operated by the Pump Entities and their affiliates
Curve	Three shapes listed; constant-product described as the only live type	Constant-product AMM
Graduation trigger	Curve collects enough quote, per a threshold set at launch	Market cap on the curve reaches the graduation threshold
Graduates to	Raydium CPMM pool	PumpSwap
Third-party launchpads	Supported through platforms	Not described in the curve and fee docs

The pump.fun side comes from its bonding curve docs and terms of use.

Raydium vs pump.fun: how do the fees compare?

pump.fun publishes a 1.25% curve fee and a 0.015 SOL graduation charge, while LaunchLab sets the curve fee per launch and follows the CPMM tier after graduation. The figures below are as published on each project's pages as of 28 October 2026.

Fee	Raydium LaunchLab	pump.fun
Creating a token	No flat fee published	No platform fee; the creator pays the Solana network fee and a small SOL deposit
Trading on the curve	Set per launch	1.25% total, split between the creator and the protocol
Graduation	No separate charge published	0.015 SOL per coin
After graduation	Typically the 0.25% CPMM tier	PumpSwap schedule that varies by market cap
App-level fee	A platform can add its own	A Platform Fee on trades in the pump.fun apps from 17 October 2026

The full pump.fun schedule is on its fees page.

What does each project warn about?

Both projects state that their products carry financial risk. Raydium's overview page says it describes protocol mechanics only, that it is not financial, legal or investment advice, and that token launches carry significant financial risk. The pump.fun terms say there is a material risk of economic loss when buying, selling, holding or investing in any digital asset.