Raydium（Ray）代幣的低迷在25％的謠言中，關於Memecoin Launchpad Pump.fun正在測試自己的自動化做市商（AMM）

專家說，pump.fun的AMM可以帶來更高的費用和更多的收入。

Raydium’s native token (RAY) price crashed by over 25% on Feb. 24 after rumors emerged that memecoin launchpad Pump.fun is testing its own automated market maker (AMM).

在有傳言稱Memecoin Launchpad Pump.Fun正在測試自己的自動化市售商（AMM）之後，Raydium的本地令牌（Ray）價格在2月24日墜毀了25％以上。

The speculation raised concerns that Pump.fun’s new feature could siphon off Raydium’s trading volume, potentially depriving it of a key revenue stream.

猜測引起了人們對pump.fun的新功能的擔憂。

The rumors first surfaced when an onchain investigator, known as “trenchdiver” on X, shared a claim that Pump.fun is setting up and testing an AMM liquidity pool.

當X上稱為“ Trechdiver”的OnChain調查員分享了Pump.fun正在設置和測試AMM流動性池時，謠言首先浮出水面。

An AMM facilitates traders in buying and selling crypto against a liquidity pool, eliminating the need for another party to trade with. Raydium currently plays a pivotal role in this process by hosting Pump.fun tokens after they complete their initial trading phase.

AMM促進交易者購買和出售加密貨幣的加密貨幣，從而無需與另一方交易。 Raydium目前通過託管泵。

However, if Pump.fun launches its own AMM, it could retain its trading fees instead of sharing them with Raydium.

但是，如果pump.fun推出了自己的AMM，它可以保留其交易費用，而不是與Raydium共享。

Onchain investigator shares evidence of Pump.fun testing new liquidity pools

OnChain調查員分享了泵的證據。FUN測試新的流動性池

To substantiate the claim, trenchdiver shared a link to a Pump.fun-branded AMM interface, which showed that the feature is in beta testing.

為了證實該索賠，Trechdiver共享了指向泵的鏈接。FUN品牌的AMM接口，該界面表明該功能在Beta測試中。

Moreover, an onchain transaction from Feb. 20 seemed to show Pump.fun testing the feature by adding a token called Snowfall (CRACK) to its liquidity pool.

此外，從2月20日起的一筆鏈交易似乎顯示出泵。通過在其流動性池中添加稱為降雪（Crack）的令牌來測試該功能。

The token, which appears to be inspired by the 2017 TV series "Snowfall," saw a massive surge in value. It peaked at $5.4 million within an hour of trenchdiver’s post but quickly dropped 40%, bringing its market value down to $1.8 million.

該代幣似乎受到2017年電視連續劇“降雪”的啟發，其價值激增。它在Trechdiver的職位後一小時內達到了540萬美元的峰值，但很快下降了40％，其市場價值降至180萬美元。

Related: Law firms slam Pump.fun for hosting fake tokens amid lawsuit battle

相關：律師事務所猛擊泵。

Experts suggest Pump.fun’s AMM could lead to higher fees and revenue

專家建議pump.fun的AMM可能導致更高的費用和收入

If Pump.fun does launch its own AMM, Raydium could stand to lose a substantial revenue stream.

如果Pump.Fun確實推出了自己的AMM，Raydium可能會失去大量的收入來源。

According to Shoal Research founder Gabriel Tramble, Raydium currently charges a 0.25% fee on swaps, which Pump.fun could set higher to double its revenue, assuming traders continue to use its platform.

根據淺灘研究創始人Gabriel Tramble的說法，Raydium目前收取0.25％的掉期費用，Pump.Fun可以將其設置為更高的收入，前提是交易員繼續使用其平台。

Tramble also highlighted that many traders, known as "degens," are accustomed to paying high trading fees, which could enable Pump.fun to profit from its own AMM without losing users.

Tramble還強調，許多稱為“ Degens”的商人習慣於支付高交易費用，這可以使Pump.fun從其自己的AMM中獲利而不會損失用戶。

Meanwhile, podcast host Tyler Warner succinctly described Raydium’s situation as "falling off a cliff," referring to its steep price decline.

同時，播客主持人泰勒·華納（Tyler Warner）簡潔地將雷迪姆（Raydium）的處境描述為“從懸崖上掉下來”，指它的價格下降。

Despite the rumors, Pump.fun has yet to make any official announcements regarding the launch of its own AMM pools.

儘管有謠言，但pump.fun尚未發表有關推出自己的AMM池的任何正式公告。

However, data from DefiLlama shows that since its launch in January 2024, Pump.fun has already collected over $500 million in fees, attesting to its growing footprint in the market.

但是，Defillama的數據表明，自2024年1月推出以來，Pump.Fun已經收取了超過5億美元的費用，證明其在市場上的佔地面積不斷增長。