Pump.fun launched its own decentralized exchange (DeX) called Pmpswap, and may displace Raydium as the main trading place for Solana (Sol).
Starting on March 20, Memecoins, which has succeeded in obtaining liquidity, or “Bond”, on pump.fun, will migrate directly to Pumpswap, Pump.fun He said In the X.
Previously, the symbols tied to the worshipers moved to Raydium, which appeared as the most popular dex in Solana to a large extent thanks to the Memecoins trading activity.
According to Pump.fun, Pumpswap “works similar to the Raydium V4 and UISWAP V2” and is designed “to create a more environment without contact with trading.”
“[M]The migrants were a major friction point – it slowed the momentum of the coin and provides a complexity that does not need new users. ”
“[N]OW, migrations occur immediately and for free. “
Raydium trading sizes rose in 2024, due significantly to Memecoins. source: Devilia
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The growing competition
The launch comes just a few days after Raydium planning to create Its memecoin launch platform – It is called Launchlab – to compete directly with pump.fun.
Pump.fun and Raydium from partners to competitors, stands to reshape the ecosystem of decentralized financing in Solana (Defi) at a time when Memecoin trading sizes significantly decrease from its highest level in January.
“We welcome the competition because users win at the end of the day,” said Alon, one of the founders of Pump.fun, who participated in Cointelegraph on March 20.
كما تتنافس بروتوكولات أخرى – مثل daos.fun و gofundmeme و pumpkin – للحصول على حصة من سوق Memecoin في Solana.
Pumpswap plans to adopt one of the most popular features in competing gofundment – sharing revenue with creators.
Soon, “a percentage of protocol revenues with creators will be shared.”
“[I]It will succeed, millions of dollars will go towards the creators aligning their societies and stimulate high -quality launch operations. ”
POMP.fun fee revenue decreased sharply from its highest levels in January. source: Sandin dune analyzes
Decreased mechanical activity
On February 27, Cointelegraph reported that the successful MEMECOIN launch at PEMP.fun decreased by 80 % of its highest level in January after a series of scandals related to mechanics refrigerated among retailers.
As a result, the average daily fee revenue for Pump.fun decreased from more than $ 4 million in January to a little more than Data From sand dune analyzes,
Memecoins led an explosive growth on Solana in 2024, when the total closed value (TVL) increased from about $ 1.4 billion to more than 9 billion dollars that year, According to To Devilia.
Raydium was among the largest beneficiaries, as daily sizes rose from about 245 million dollars to more than two billion dollars over the course of 2024, Defillama Data He appears.
In January, Raydium launched a permanent future trading platform in an attempt to challenge the current Jupiter, another protocol of the best Solana Defi.
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