Solana Launchpad StonkFun Integrates Raydium LaunchLab, Sending STONK Up 250% in a Day

StonkFun, a Solana-based token launchpad, saw its native token STONK jump more than 250% in a day after announcing an integration with Raydium's LaunchLab.

The Block reported on September 6 that STONK was trading around $0.16 at about 4:30 p.m., up more than 250% from 24 hours earlier. Its market capitalization was about $140 million, and 24-hour trading volume reached about $135 million. The token climbed as high as a record $0.212 during the session before paring some of its gains.

StonkFun is a platform that allows users to issue tokens by creating trading pairs tied to tokenized stocks and exchange-traded funds, as well as cryptocurrencies, currencies and commodities. STONK is paired with SPYx, Backed's tokenized ETF product designed to track the S&P 500 index. That pairing does not give STONK holders actual ownership of ETF shares or shareholder rights.

The rally came after StonkFun said new token issuance would be integrated with Raydium's LaunchLab. The platform said the integration would lower token distribution costs, reduce the risk of early sniping and expand liquidity after the bonding process. Tokens issued through LaunchLab initially trade on a bonding-curve model, and liquidity is transferred to Raydium pools once a set threshold is reached.

Tokens in the Raydium ecosystem also advanced. Raydium's native token RAY rose about 46% over 24 hours to $1.27, while JUP, the token of Solana-based decentralized exchange aggregator Jupiter, gained about 21% to $0.27.

StonkFun also runs a token buyback-and-burn program funded by trading fees. Under the program, the platform uses part of its trading-fee revenue to buy back and burn tokens among the top 10 by market capitalization on the platform. StonkFun said 78 tokens in total have so far been bought back and burned through the program.