365Crypto
A New Home for Memecoins
Pump.fun just launched PumpSwap, its own decentralized exchange (DEX). This means its memecoins will no longer trade on Raydium, a major Solana-based DEX.
Starting March 20, all new Pump.fun memecoins that pass the liquidity bonding process will go straight to PumpSwap. Before this, they were sent to Raydium, which grew popular because of memecoin trading.
PumpSwap is designed to work like Raydium V4 and Uniswap V2 but with fewer hassles. Pump.fun says it eliminates slow migrations, making trading instant and free.
The Memecoin Battle Heats Up
The timing of this launch is no accident. Just days ago, Raydium announced it was creating LaunchLab, a memecoin launchpad to compete with Pump.fun.
What was once a partnership is now a rivalry. This shift is happening while memecoin trading volumes are dropping from their January highs.
“We welcome competition because users win at the end of the day,” said Pump.fun co-founder Alon.
Pump.fun isn’t the only player shaking things up. Daos.fun, GoFundMeme, and Pumpkin are also trying to grab a piece of the Solana memecoin market.
PumpSwap Adds Revenue Sharing
PumpSwap is adopting a popular feature from GoFundMeme—sharing revenue with memecoin creators.
Soon, part of PumpSwap’s earnings will go back to the people making the coins. This could mean millions of dollars flowing into memecoin projects, encouraging better launches.
Memecoin Fever Is Fading
Back in January, memecoin activity was booming. Now, it’s slowing down.
On February 27, Cointelegraph reported that successful memecoin launches on Pump.fun had dropped 80%. Scandals around memecoins have made traders cautious.
Pump.fun’s daily fee revenue fell from $4 million in January to $1 million in mid-March, according to DeFiLlama.
Still, Solana’s ecosystem is much bigger than before. Its total value locked (TVL) jumped from $1.4 billion to over $9 billion in 2024.
Raydium also had a huge year, with daily trading volumes rising from $245 million to over $2 billion.
