Raydium's revenue grew 69% quarter-over-quarter to $24.3 million in Q3 2025, with LaunchLab contributing $12.8 million (53% of total revenue) and becoming the primary revenue driver. Total trading volume reached $51.9 billion (up 31% quarter-over-quarter), with Solana DEX expanding its market share to 15.9%. The protocol maintained a 95% profit margin while treasured assets grew 34% to $239.9 million, despite revenue concentration in the LaunchLab token, which is backed by LetsBonk, creating diversification challenges.

[Gauntlet issued a document to explain the criteria and methods of Unichain incentive pool selection] On April 29, DeFi research and risk management company Gauntlet issued a document to clarify the criteria and methods of Unichain incentive pool selection. Gauntlet said the Uniswap Foundation and Gauntlet will work together to dynamically adjust the target pool and incentive allocation. Every two weeks, Gauntlet collects and analyzes real-time data and updates strategy outlooks to include in the next round of incentive allocations. Gauntlet prioritizes DEX liquidity and volume migration, while the Uniswap Foundation prioritizes Unichain’s strategic growth priorities. In addition, incentive policies for the Hook pool will also be introduced.