領先的MemeCoin LaunchPad Pump.Fun推出了泵送泵，這是一種新的分散交易所（DEX），旨在使令牌遷移即時且免費。

Pump.Fun週四表示，它將推出PumpSwap，這是一種新的分散交易所（DEX），旨在使令牌遷移即時且免費。

Leading memecoin launchpad Pump.fun said Thursday it is launching PumpSwap, a new decentralized exchange (DEX) designed to make token migrations instant and free.

領先的Memecoin Launchpad Pump.Fun週四表示，它將推出PumpsWap，這是一種新的分散交易所（DEX），旨在使令牌遷移立即自由。

The platform will implement creator revenue sharing, which will redistribute a portion of protocol revenue to token creators. Given how popular memecoin trading is, the platform is likely to attract users.

該平台將實施創建者的收入共享，這將重新分配給令牌創建者的部分協議收入。鑑於Memecoin交易的流行程度，該平台可能會吸引用戶。

The goal behind PumpSwap’s creation is to increase liquidity for traded coins, making them easier to buy and sell, thus improving users’ trading experience. Pump.fun stated that its original goal was to build “the most frictionless environment for trading coins.”

Pumpswap創建的目標是增加交易硬幣的流動性，從而使它們更易於買賣，從而改善用戶的交易經驗。 Fump.Fun表示，其最初的目標是建立“交易硬幣最無摩擦的環境”。

“With PumpSwap, we expect to solve the major point of friction that slows a coin’s momentum,” Pump.fun stated.

“使用Pumpswap，我們希望解決減慢硬幣勢頭的主要摩擦點，” Pump.Fun說。

The platform operates similarly to popular platforms Raydium V4 and Uniswap V2, using an automated market maker (AMM) with a constant product formula.

該平台使用具有恆定產品公式的自動化者（AMM）類似於流行的平台Raydium V4和Uniswap V2。

Coins completing their bonding curve, which is a mechanism to manage token pricing and liquidity on Pump.fun, will automatically migrate to PumpSwap, removing the previous delays and the 6 SOL migration fee. This feature is expected to boost trading momentum and user satisfaction.

完成其粘結曲線的硬幣，這是管理泵的代價定價和流動性的一種機制。FUN，將自動遷移到泵送，消除了先前的延誤和6 sol遷移費。預計此功能將提高交易勢頭和用戶滿意度。

Each trade on PumpSwap carries a 0.25% fee, which will be split between liquidity providers (0.20%) and the protocol (0.05%), Pump.fun stated. However, the distribution is subject to change as Pump.fun plans to implement a revenue-sharing model in the future.

泵。但是，該分佈可能會隨著泵的變化而發生變化。FUN計劃將來實施收入分享模型。

The team stated that a feature—where a portion of protocol revenue is deployed to coin creators—will be deployed soon, aimed at incentivizing robust community development and high-quality project launches.

該團隊表示，將盡快部署一項功能 - 部分協議收入將部署給硬幣創建者，旨在激勵強大的社區發展和高質量的項目推出。

“If it succeeds, millions of dollars will go towards aligning creators with their communities and incentivizing higher quality launches,” Pump.fun noted.

“如果成功，數百萬美元將用於使創作者與社區保持一致，並激勵更高質量的發射，” Pump.Fun指出。

On the security side, Pump.fun said that PumpSwap has completed nine security audits from partners including Pashov Group, OSEC, Blockpain, and Sec3. The exchange allows users to create liquidity pools at no cost, add to existing pools, and trade tokens from verified partners, including projects newly bridged to Solana.

在安全方面，Pump.Fun表示，PumpsWap已完成了包括Pashov Group，OSEC，Blockpain和SEC3在內的合作夥伴的9項安全審計。該交易所允許用戶免費創建流動性池，添加到現有池中，並從經過驗證的合作夥伴的交易代幣，包括新橋接到Solana的項目。

PumpSwap is not limited to meme coins; it also features verified partner tokens, some of which are making their Solana debut, including Tron’s TRX, Frax Finance’s FXS and frxUSD, Ethena’s USDe, Aptos’ APT, Plume Network’s PLUME, and Sei Network’s SEI.

Pumpswap不限於模因硬幣；它還具有經過驗證的合作夥伴令牌，其中一些正在使他們的Solana首次亮相，包括Tron的TRX，Frax Finance的FXS和Frxusd，Ethena的USDE，Aptos的Aptos的Apt，Plume Network的羽流和SEI Network的SEI。

Pump.fun Faces Competition from Raydium

泵。Fun面臨來自Raydium的比賽

The launch of PumpSwap comes after Raydium introduced LaunchLab, its own meme coin launchpad that adopts a similar bonding curve to Pump.fun.

Raydium引入了其自己的模因硬幣Launchpad，它採用了類似的粘結曲線來泵送。

Raydium’s platform will allow third-party interfaces to set fees, support multiple quote tokens, and integrate with Raydium’s liquidity provider locker to ensure fee security.

Raydium的平台將允許第三方界面設定費用，支持多個報價令牌並與Raydium的流動性提供商儲物櫃集成以確保費用安全。

The separate developments of Pump.fun and Raydium raise questions about their relationship as it appears to have weakened since Pump.fun was rumored to start testing its own AMM earlier this year.

泵的單獨發展。FUN和Raydium對他們的關係提出了疑問，因為自泵以來，它似乎已經削弱了。Fun被謠傳今年早些時候開始測試自己的AMM。

If Pump.fun fully transitions to its own AMM, it could reduce its reliance on Raydium, retaining liquidity and fees within its ecosystem, which has already impacted Raydium’s revenue and token value.

如果Pump.Fun完全過渡到其自身的AMM，則可以減少對Raydium的依賴，保留其生態系統中的流動性和費用，這已經影響了Raydium的收入和代幣價值。

Pump.fun and Raydium initially had a strong, symbiotic relationship. Pump.fun relied on Raydium to provide liquidity for tokens launched on its platform, transferring tokens to Raydium’s trading pools once they reached a $69,000 market cap.

Pump.Fun和Raydium最初具有牢固的共生關係。 pump.fun依靠Raydium為在其平台上推出的代幣提供流動性，一旦達到69,000美元的市值，就將令牌轉移到Raydium的交易池。

Before Raydium’s LaunchLab, a number of memecoin launchpads had been launched to compete with Pump.fun.

在Raydium的LaunchLab之前，已經啟動了許多Memecoin Launchpads與Pump.Fun競爭。

Some successes were achieved, such as Moonshot, which gained popularity after Trump launched his official meme token. The platform once joined the top 10 finance app on on the U.S. Apple App Store following TRUMP launch.

在特朗普啟動官方模因令牌之後，獲得了一些成功，例如Moonshot。特朗普推出後，該平台曾經加入了美國Apple App Store上的前十名Finance App。

Nevertheless, these platforms lose traction as the memecoin market dries up. Even Pump.fun, the major launchpad for meme coins, faces challenges

然而，隨著MemeCoin市場的變化，這些平台失去了吸引力。即使是Meme Coins的主要發射台，即使是Pump.Fun，也面臨著挑戰

Dune Analytics data shows that Pump.fun’s graduation rate, which measures the number of tokens that successfully move from the incubation phase to full transactability, has been below 1% for over a month.

Dune Analytics數據表明，pump.fun的畢業率在一個月以上一直低於1％。