泵。FUN试验自动化做市商（AMM），威胁着Raydium对Solana的统治地位

Pump.Fun是一个以对模因硬币的关注而闻名的平台，正在通过自己的自动营销商（AMM）的试验彻底改变Solana的流动性格局。

Platform pump.fun, renowned for its meme coin focus, is making waves in the liquidity landscape on Solana by trialing its own Automated Market Maker (AMM). The test version of amm.pump.fun has sparked interest, hinting at the possibility of shifting liquidity flows in the Solana network. Currently, tokens created on Pump.fun move to Raydium to utilize its liquidity pools.

以其模因硬币的重点而闻名的平台泵。通过试用自己的自动营销商（AMM），在Solana的流动性环境中浪潮。 AMM.Pump.Fun的测试版引发了兴趣，暗示可能会在Solana网络中转移流动性流动。目前，代币在泵上创建。FUN转移到Raydium以利用其流动性池。

In these pools, liquidity providers earn a commission of 0.25% on each trade. Of this fee, 0.22% is distributed to liquidity providers (LPs), while the remaining 0.03% is used to repurchase RAY tokens. However, if Pump.fun fully implements its AMM, it could keep those fees within its own ecosystem, boosting its revenue stream and gaining tighter control over liquidity.

在这些池中，流动性提供商在每次交易中获得0.25％的佣金。在这笔费用中，0.22％分配给流动性提供商（LPS），而其余0.03％则用于回购射线令牌。但是，如果pump.fun完全实现其AMM，则可以将这些费用保留在自己的生态系统中，增强其收入流并对流动性进行更严格的控制。

This news has had an immediate impact on the market. The price of the RAY token dropped over 28% in just a few hours, trading at around $3. This sharp decline is attributed to the market’s expectations of a reduction in Raydium’s commission-based revenue, especially if Pump.fun manages to attract trading volumes to its platform.

该消息对市场产生了直接的影响。射线令牌的价格在短短几个小时内下跌了28％，交易约为3美元。这种急剧下降归因于市场对Raydium基于佣金的收入减少的期望，尤其是如果Pump.Fun设法吸引了其平台的交易量。

While Pump.fun's AMM is still in the testing phase, analysts foresee its potential to disrupt the liquidity dynamics of Solana. Some speculate that Pump.fun might introduce higher trading fees, in the range of 2% to 3%, and incorporate a reward system for its users.

虽然Pump.Fun的AMM仍处于测试阶段，但分析师预计其破坏Solana流动性动态的潜力。有些人推测pump.fun可能会引入更高的交易费用，范围为2％至3％，并为其用户纳入奖励系统。

With over $509 million in transaction fees generated since its launch, the platform stands to solidify its dominance in the meme coin space within Solana if its AMM achieves success. Meanwhile, Raydium has played a key role in the growth of these projects, receiving payments of up to 6 SOL (roughly $950) from projects migrating to its liquidity pools.

自推出以来，该平台就产生了超过5.09亿美元的交易费用，如果其AMM取得了成功，则可以巩固其在Solana内模因硬币空间中的优势。同时，Raydium在这些项目的增长中发挥了关键作用，从迁移到其流动性池的项目中获得了高达6个SOL（约950美元）的付款。

In addition to testing its AMM, Pump.fun has also stepped up its efforts against money laundering, especially after discovering that stolen funds from the Bybit hack were being used to create a token named QinShihuang on its platform. Upon detection, Pump.fun swiftly blocked and removed the token, demonstrating its commitment to maintaining the crypto ecosystem's security.

除了测试其AMM外，Pump.Fun还加大了对洗钱的努力，尤其是在发现Bybit Hack被盗资金之后，它被用来在其平台上创建一个名为Qinshihuang的代币。发现后，泵迅速阻止并取下令牌，表明了其对维护加密生态系统安全的承诺。