Pump.fun, the dominant Solana memecoin launchpad, has introduced PumpSwap, its own Solana-native decentralized exchange, and begun routing newly “bonded” or “graduated” memecoins there instead of to Raydium, which had been the main secondary market venue for Pump.fun launches. PumpSwap is an automated market maker (AMM) DEX similar in design to Raydium v4 and Uniswap v2, allowing users to provide liquidity and trade tokens, with a 0.25% trading fee split between liquidity providers (0.20%) and the protocol (0.05%). From March 20 onward, memecoins that complete Pump.fun’s bonding curve liquidity bootstrap now migrate automatically and at no additional cost to PumpSwap, eliminating the previous step of creating or moving liquidity pools on Raydium. The launch of PumpSwap marks a strategic effort by Pump.fun to internalize more of the Solana memecoin trading stack, keep liquidity within its own ecosystem, and directly challenge Raydium and other Solana AMMs as the default venue for trading new memecoins. Pump.fun has emphasized security and transparency, subjecting PumpSwap to nine independent audits, planning to open-source its code, and hosting a $2 million audit competition to incentivize external review. The team is also signaling a shift toward deeper alignment with token creators through a proposed creator revenue-sharing model that would direct a portion of protocol fees to coin creators, potentially amounting to millions of dollars in incentives and aiming to raise the quality of new launches. As Pump.fun’s role in Solana’s memecoin economy grows, PumpSwap’s adoption could significantly reshape order flow, fee capture, and competitive dynamics across Solana DeFi by reducing Raydium’s dominance in memecoin listings and consolidating both launch and secondary trading under a single platform.

AI-generated background, compiled from web sources — not editorial content.

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