Raydium LaunchLab Explained: The Engine Behind LetsBonk

Raydium LaunchLab is Raydium's bonding-curve program. On its own it is a launchpad on raydium.io; more importantly, it is the engine behind other launchpads - LetsBonk being the best known. If you launch or trade bonk.fun tokens, you are using LaunchLab. Here is how it works and what it means in practice.

One program, many platforms

Every LaunchLab token is created with a platform attached. The platform is an on-chain account that identifies who the launch belongs to - Raydium's own launchpad or a partner such as LetsBonk - and sets its share of fees and its branding. The curve, the pool account and the migration are the same for all of them. So a "LetsBonk token" and a "Raydium LaunchLab token" are the same kind of object; they differ only in the platform they were created with, which decides which site lists them.

That is why SolBundle offers both in the launch wizard: LetsBonk sets the LetsBonk platform (and a ...bonk address), Raydium LaunchLab sets Raydium's.

The curve

With the default settings used by LetsBonk and Raydium:

• Supply: 1 billion tokens, 6 decimals.
• Sold on the curve: about 793.1 million tokens. The rest is kept for the pool at migration.
• Target: the curve completes when it has raised 85 SOL.
• Quote asset: SOL, held as wrapped SOL (wSOL) inside the pool.

Like the pump.fun curve, LaunchLab prices tokens with a constant-product formula over virtual reserves: each buy removes tokens and adds SOL, so the next token costs more. The general idea is in bonding curves explained; the practical consequence for buy sizing is in slippage on bonding curves.

Buying and selling on the curve

LaunchLab trades in token accounts, including for SOL. A buy wraps SOL into a temporary wSOL account, swaps it on the curve and closes the account in the same transaction - which is why every buying wallet needs about 0.002 SOL of temporary rent (wrapped SOL explained). A sell does the reverse and unwraps the proceeds back to SOL.

Because all of this happens inside one transaction, a launch on LaunchLab bundles the same way as on pump.fun: the creation and the first buys go in one Jito bundle and land in the same block, or not at all (how same-block bundling works).

Migration

When the curve reaches 85 SOL, trading on it stops and the pool migrates: the raised SOL and the reserved tokens are deposited into a Raydium CPMM pool (constant-product, no order book). From then on the token trades like any Raydium token - on bonk.fun, raydium.io, Jupiter and other aggregators. The full comparison with pump.fun and Bags is in where tokens go after the curve.

What to check on a LaunchLab token

• Authorities. Live LetsBonk mints have mint and freeze authority revoked (why it matters).
• Holder distribution. Remember the pool itself holds the unsold tokens while on the curve. The holder checker shows the wallets that matter.
• Curve progress. How far the token is from 85 SOL tells you how close it is to migration.

Frequently asked questions