Pump.fun Launches PumpSwap to Compete in Solana’s DeFi Market
Solana's protocol Pump.fun has launched a new token swaps service named PumpSwap, increasing its presence in the DeFi economy. Key points include:
- PumpSwap utilizes Pump.fun's liquidity pools, competing directly with existing automated market makers (AMMs) on Solana.
- The service aims to reduce launch costs by providing initial liquidity for promising tokens within its own ecosystem.
- Pump.fun's founders anticipate PumpSwap will become a central platform for permissionless trading across all tokens on Solana.
- Pump.Fun generated $1 million in revenue recently, outperforming many major crypto projects, including Ethereum.
- Raydium is expected to lose trading volume as activity shifts to PumpSwap, though it has introduced its own memecoin launchpad to mitigate this impact.
- PumpSwap plans to implement revenue sharing for token creators, though details on timing and amounts remain undisclosed.