领先的MemeCoin LaunchPad Pump.Fun推出了泵送泵，这是一种新的分散交易所（DEX），旨在使令牌迁移即时且免费。

Pump.Fun周四表示，它将推出PumpSwap，这是一种新的分散交易所（DEX），旨在使令牌迁移即时且免费。

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

领先的Memecoin Launchpad Pump.Fun周四表示，它将推出PumpsWap，这是一种新的分散交易所（DEX），旨在使令牌迁移立即自由。

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.

该平台将实施创建者的收入共享，这将重新分配给令牌创建者的部分协议收入。鉴于Memecoin交易的流行程度，该平台可能会吸引用户。

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创建的目标是增加交易硬币的流动性，从而使它们更易于买卖，从而改善用户的交易经验。 Fump.Fun表示，其最初的目标是建立“交易硬币最无摩擦的环境”。

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

“使用Pumpswap，我们希望解决减慢硬币势头的主要摩擦点，” Pump.Fun说。

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

该平台使用具有恒定产品公式的自动化者（AMM）类似于流行的平台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.

完成其粘结曲线的硬币，这是管理泵的代价定价和流动性的一种机制。FUN，将自动迁移到泵送，消除了先前的延误和6 sol迁移费。预计此功能将提高交易势头和用户满意度。

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，该分布可能会随着泵的变化而发生变化。FUN计划将来实施收入分享模型。

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.

该团队表示，将尽快部署一项功能 - 部分协议收入将部署给硬币创建者，旨在激励强大的社区发展和高质量的项目推出。

“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，数百万美元将用于使创作者与社区保持一致，并激励更高质量的发射，” 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在内的合作伙伴的9项安全审计。该交易所允许用户免费创建流动性池，添加到现有池中，并从经过验证的合作伙伴的交易代币，包括新桥接到Solana的项目。

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不限于模因硬币；它还具有经过验证的合作伙伴令牌，其中一些正在使他们的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面临来自Raydium的比赛

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币Launchpad，它采用了类似的粘结曲线来泵送。

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的平台将允许第三方界面设定费用，支持多个报价令牌并与Raydium的流动性提供商储物柜集成以确保费用安全。

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.

泵的单独发展。FUN和Raydium对他们的关系提出了疑问，因为自泵以来，它似乎已经削弱了。Fun被谣传今年早些时候开始测试自己的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完全过渡到其自身的AMM，则可以减少对Raydium的依赖，保留其生态系统中的流动性和费用，这已经影响了Raydium的收入和代币价值。

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关系。 pump.fun依靠Raydium为在其平台上推出的代币提供流动性，一旦达到69,000美元的市值，就将令牌转移到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，已经启动了许多Memecoin Launchpads与Pump.Fun竞争。

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.

在特朗普启动官方模因令牌之后，获得了一些成功，例如Moonshot。特朗普推出后，该平台曾经加入了美国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，随着MemeCoin市场的变化，这些平台失去了吸引力。即使是Meme Coins的主要发射台，即使是Pump.Fun，也面临着挑战

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数据表明，pump.fun的毕业率在一个月以上一直低于1％。