Raydium（Ray）代币的低迷在25％的谣言中，关于Memecoin Launchpad Pump.fun正在测试自己的自动化做市商（AMM）

专家说，pump.fun的AMM可以带来更高的费用和更多的收入。

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).

在有传言称Memecoin Launchpad Pump.Fun正在测试自己的自动化市售商（AMM）之后，Raydium的本地令牌（Ray）价格在2月24日坠毁了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.

猜测引起了人们对pump.fun的新功能的担忧。

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.

当X上称为“ Trechdiver”的OnChain调查员分享了Pump.fun正在设置和测试AMM流动性池时，谣言首先浮出水面。

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促进交易者购买和出售加密货币的加密货币，从而无需与另一方交易。 Raydium目前通过托管泵。

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，它可以保留其交易费用，而不是与Raydium共享。

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

OnChain调查员分享了泵的证据。FUN测试新的流动性池

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

为了证实该索赔，Trechdiver共享了指向泵的链接。FUN品牌的AMM接口，该界面表明该功能在Beta测试中。

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，从2月20日起的一笔链交易似乎显示出泵。通过在其流动性池中添加称为降雪（Crack）的令牌来测试该功能。

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.

该代币似乎受到2017年电视连续剧“降雪”的启发，其价值激增。它在Trechdiver的职位后一小时内达到了540万美元的峰值，但很快下降了40％，其市场价值降至180万美元。

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

相关：律师事务所猛击泵。

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

专家建议pump.fun的AMM可能会带来更高的费用和收入

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

如果Pump.Fun确实推出了自己的AMM，Raydium可能会失去大量的收入来源。

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.

根据浅滩研究创始人Gabriel Tramble的说法，Raydium目前收取0.25％的掉期费用，Pump.Fun可以将其设置为更高的收入，前提是交易员继续使用其平台。

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还强调，许多称为“ Degens”的商人习惯于支付高交易费用，这可以使Pump.fun从其自己的AMM中获利而不会损失用户。

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

同时，播客主持人泰勒·华纳（Tyler Warner）简洁地将雷迪姆（Raydium）的处境描述为“从悬崖上掉下来”，指它的价格下降。

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

尽管有谣言，但pump.fun尚未发表有关推出自己的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的数据表明，自2024年1月推出以来，Pump.Fun已经收取了超过5亿美元的费用，证明其在市场上的占地面积不断增长。