pump.fun推出了DEX -pumpswap，旨在成為一個全面的平台

2024年，Pump.Fun以其創新的代幣創建模型迅速上升，並成為Solana生態系統模因狂熱的重要驅動力。

In 2024, Pump.fun rose rapidly with its innovative token creation model and became an important driving force in the Solana ecosystem Meme token craze. However, with the ebb and flow of the Solana ecosystem Meme market, Pump.fun faces multiple challenges: the solid position of mature DEXs such as Raydium and Jupiter in the trading field, the gradual decline of users' enthusiasm for Meme tokens, and the competitive pressure of the BSC network have hindered Pump.fun's growth momentum, prompting the Pump.fun team to re-examine its development strategy.

2024年，Pump.Fun以其創新的代幣創建模型迅速上升，並成為Solana生態系統模因狂熱的重要驅動力。但是，隨著Solana生態系統模因市場的起伏和流動，Fump.Fun面臨多個挑戰：成熟DEX的穩固位置，例如Raydium和Jupiter在交易領域中的穩定位置，用戶對MEME標記的熱情的逐漸下降，對BSC網絡的競爭壓力以及BSC的競爭壓力都會阻礙Pump.Fun的成長型組合，以促進pumpun Manlymun pummun pummun pummun。

Just this morning (March 21, 2025), Pump.fun officially announced the launch of its DEX - PumpSwap, marking the platform's transformation from a single token launch platform to a comprehensive platform that integrates token launch and trading. Can the launch of PumpSwap inject new vitality into Pump.fun? Recreate its glory in the field of Meme tokens?

就在今天早上（2025年3月21日），泵。Fun正式宣布發射其DEX -Pumpswap，標誌著該平台從單個代幣啟動平台轉換為一個集成了代幣發布和交易的綜合平台。泵送的發射可以將新活力注入泵。在模因令牌領域重現榮耀？

What does PumpSwap do?

Pumpswap做什麼？

PumpSwap adopts a constant product AMM model similar to Raydium V4 and Uniswap V2. The biggest change in PumpSwap is that it eliminates the intermediate step of migrating tokens from Pump.fun to an external DEX (Raydium). All "graduated" tokens that have completed the joint curve will directly create liquidity pools on PumpSwap and start trading.

PumpSwap採用恆定的產品AMM模型，類似於Raydium V4和UNISWAP V2。泵送的最大變化是，它消除了從泵。所有完成聯合曲線的“畢業”令牌將直接在泵送上創建流動性池並開始交易。

The core features of PumpSwap include:

Pumpswap的核心功能包括：

1. Seamless token migration : From now on, all tokens that have completed their joint curves will be directly migrated to PumpSwap instead of Raydium, which they previously relied on, and there is no need to pay a migration fee (previously 6 SOL). This change eliminates the economic barriers for token creators to enter the trading market.

1。無縫的令牌遷移：從現在開始，所有完成其關節曲線的令牌將直接遷移到泵送，而不是雷迪姆（Raydium），而不是先前依賴的雷迪（Raydium），並且無需支付遷移費（以前是6 sol）。這種變化消除了代幣創作者進入交易市場的經濟障礙。

2. Free liquidity pool creation and provision : Users can create liquidity pools at no cost and provide liquidity to existing pools.

2。免費流動性池創建和規定：用戶可以免費創建流動性池，並為現有池提供流動性。

3. Extensive token support : PumpSwap not only supports all Meme tokens graduated from Pump.fun, but also adds trading support for multiple popular project tokens, including PENGU, APT, TRON, cbBTC, USDe (Ethena), FXS, fxUSD, SEI, JUP, ZRO, MNDE, MPLX, DRIFT, PLUME, RETARDIO, SAVE, SCR, OX, W, etc. Among these tokens, APT (Aptos) and TRON are connected to the Solana ecosystem for the first time through PumpSwap, demonstrating the platform's ambition to expand compatibility.

3. Extensive token support : PumpSwap not only supports all Meme tokens graduated from Pump.fun, but also adds trading support for multiple popular project tokens, including PENGU, APT, TRON, cbBTC, USDe (Ethena), FXS, fxUSD, SEI, JUP, ZRO, MNDE, MPLX, DRIFT, PLUME, RETARDIO, SAVE, SCR, OX, W, etc. Among these代幣，APT（APTO）和TRON首次通過泵送與Solana生態系統連接，這表明了平台擴大兼容性的野心。

4. Fees : PumpSwap charges a 0.25% handling fee for each transaction, of which 0.20% is allocated to liquidity providers and 0.05% belongs to the protocol.

4。費用：每筆交易的泵送費用為0.25％的處理費，其中0.20％分配給流動性提供者，0.05％屬於該協議。

5. Creator Sharing : The "Creator Sharing System" is also a highlight of PumpSwap. PumpSwap shares part of the protocol revenue with token creators, aiming to incentivize higher-quality Meme projects. The details of fee distribution will be further adjusted after the launch of this feature.

5。創建者共享：“創建者共享系統”也是泵送的亮點。 Pumpswap與代幣創建者分享了協議收入的一部分，旨在激勵高質量的模因項目。此功能啟動後，將進一步調整費用分配的詳細信息。

In terms of security, PumpSwap has passed 9 security audits conducted by Pashovgroup, OtterSec, bl0ckpain and Sec3, and promised to open source the code in the future to enhance community trust. pump.fun is currently conducting a PumpSwap audit competition with Cantina, a market application for Web3 security solutions, with a total reward of 2.01 million USDC.

在安全方面，Pumpswap通過了Pashovgroup，Ottersec，BL0CKPAIN和SEC3進行的9項安全審核，並承諾將來將開放代碼，以增強社區信任。 Pump.Fun目前正在與Cantina進行泵送審核競賽，Cantina是Web3安全解決方案的市場應用，總獎勵為201萬美元。

What are the advantages and challenges of Pump.fun?

泵的優勢和挑戰是什麼？

Pump.fun believes that the migration of tokens after graduation from Pump.fun is a major friction point that will slow the token's momentum and create unnecessary complexity for new users.

pump.fun認為，從泵畢業後的令牌遷移是一個主要的摩擦點，它將減慢令牌的勢頭，並為新用戶創造不必要的複雜性。

The launch of PumpSwap attempts to solve long-standing pain points and seize new market opportunities. First, the policy of free migration and creation of liquidity pools has greatly lowered the threshold for user participation, especially for small-scale investors and token creators, which enhances the attractiveness of the platform.

Pumpswap的推出嘗試解決了長期存在的痛點並抓住了新的市場機會。首先，自由遷移和創建流動性池的政策大大降低了用戶參與的門檻，尤其是對於小規模的投資者和代幣創建者，這增強了平台的吸引力。

In the past, tokens had to be manually migrated to Raydium after graduating from Pump.fun, a process that was not only time-consuming, but also likely to miss the short-lived window of Meme token fever. PumpSwap natively integrates trading functions, allowing users to instantly enter the market and capture opportunities at the first opportunity.

過去，代幣從Pump.Fun畢業後必須手動遷移到Raydium，這一過程不僅耗時，而且很可能會錯過Meme Token Fever的短暫壽命。 Pumpswap本地整合交易功能，使用戶能夠立即進入市場並在第一個機會中捕獲機會。

The upcoming creator-sharing mechanism is expected to encourage more developers to invest their time and creativity to create more attractive Meme projects, thereby improving the overall quality and activity of the ecosystem by sharing protocol revenue with token creators.

即將到來的創建者共享的機制有望鼓勵更多的開發人員投入時間和創造力，以創建更具吸引力的模因項目，從而通過與代幣創建者共享協議收入來改善生態系統的整體質量和活動。

However, the success of PumpSwap is highly dependent on the continued prosperity of the Meme token market within the Solana ecosystem. The LIBRA token crash in February 2025 highlighted the fragility of the market. If the market continues to cool, PumpSwap's trading volume and revenue will face severe challenges.

但是，Pumpswap的成功在很大程度上取決於Solana生態系統中模因令牌市場的持續繁榮。 20025年2月的天秤座令牌崩潰強調了市場的脆弱性。如果市場繼續冷卻，Pumpswap的交易量和收入將面臨嚴重的挑戰。

In addition, there are already mature DEXs such as Raydium and Jupiter in the Solana ecosystem. As a new DEX player, PumpSwap needs to quickly prove its advantages in terms of functionality and user experience.

此外，Solana生態系統中已經有成熟的DEX，例如Raydium和Jupiter。作為新的DEX播放器，Pumpswap需要快速證明其功能和用戶體驗方面的優勢。