泵的崛起及其对索拉纳的影响

Meme Coin Launchpad Pump.Fun因其能够向Solana区块链推动大量收入和贸易量的能力而迅速增长。

Solana (CRYPTO: SOL), one of the leading blockchain networks, has gained nearly 2% in the last 24 hours and is currently trading at $118.28 on Thursday.

索拉纳（Crypto：Sol）是领先的区块链网络之一，在过去的24小时内上涨了近2％，目前在周四的交易价格为118.28美元。

While Solana continues its upward momentum, a fierce battle for dominance is unfolding between two prominent projects built on the Solana blockchain — Pump.fun and Raydium.

尽管索拉纳（Solana）继续向上势头，但在索拉纳区块链上建立的两个著名项目 - 泵。

The rivalry between these two platforms has led to intense competition for user engagement and transaction volume. However, in this ongoing battle, Solana itself emerges as the ultimate winner, as both protocols drive activity and liquidity on the network.

这两个平台之间的竞争导致了激烈的竞争用户参与和交易量。但是，在这场持续的战斗中，索拉纳本身成为最终的赢家，因为两种协议都推动了网络上的活动和流动性。

The Rise of Pump.fun and Its Impact on Solana

泵的崛起及其对索拉纳的影响

Pump.fun, a meme coin launchpad, has rapidly grown in popularity for its ability to drive significant revenue and trade volume to the Solana blockchain. The platform’s user-friendly approach and seamless meme coin launches have attracted a large user base, cementing its position as a key player in the Solana ecosystem.

Meme Coin Launchpad Pump.Fun因其能够向Solana区块链推动大量收入和贸易量的能力而迅速增长。该平台的用户友好方法和无缝的模因硬币发布吸引了大型用户群，巩固了其作为Solana生态系统中关键参与者的地位。

However, its success has also led to strategic changes, particularly in its relationship with Raydium, a decentralized exchange (DEX) also built on Solana.

但是，它的成功也导致了战略变化，尤其是与Raydium的关系，Raydium（也是基于Solana的分散交易所（DEX））。

Previously, Pump.fun had partnered with Raydium to facilitate the trading of its launched tokens. However, in a surprising move, Pump.fun decided to sever its partnership with Raydium and launch its own DEX — PumpSwap.

此前，Pump.Fun与Raydium合作，促进其发射的代币的交易。但是，令人惊讶的是，Pump.Fun决定切断与Raydium的合作伙伴关系，并启动自己的DEX -Pumpswap。

This strategic shift has resulted in an interesting rivalry between the two platforms as they compete for users, liquidity, and transaction volume.

这种战略转变导致两个平台与用户竞争，流动性和交易量之间的竞争。

Raydium vs. PumpSwap: The Battle for Market Share

Raydium v​​s. Pumpswap：争取市场份额的战斗

Raydium, which is ranked among the top DEX on Solana, has long been a dominant force in decentralized trading. However, the launch of PumpSwap has threatened Raydium’s market share, forcing it to defend its position in the ecosystem.

Raydium在Solana上排名最高的DEX之列，长期以来一直是分散交易的主要力量。但是，Pumpswap的推出威胁到Raydium的市场份额，迫使其捍卫其在生态系统中的地位。

Pump.fun’s decision to create its own Automated Market Maker (AMM) DEX has allowed it to retain more value within its platform, providing users with a seamless trading experience for meme coins launched on its launchpad.

pump.fun决定创建自己的自动化做市商（AMM）DEX允许其在其平台内保留更多价值，从而为用户提供了在其Launchpad上推出的Meme Coins的无缝交易体验。

According to a research report by K33 on Wednesday, PumpSwap has been gradually chipping away at Raydium’s trade volume. The report highlights how Pump.fun’s ecosystem has managed to capture higher value by ensuring that users remain within its infrastructure rather than engaging with external platforms like Raydium.

根据K33周三的一份研究报告，Pumpswap逐渐消除了Raydium的贸易量。该报告强调了pump.fun的生态系统如何通过确保用户保留在其基础架构中而不是与Raydium这样的外部平台互动来捕获更高的价值。

This shift in user activity and value retention has had a noticeable impact, as evidenced by the decline in Raydium’s trading activity and liquidity dominance.

用户活动和价值保留的这种转变产生了明显的影响，这证明了Raydium的交易活动和流动性优势的下降。

The Future of Solana’s DEX Landscape

Solana Dex景观的未来

As the rivalry between Pump.fun and Raydium continues to heat up, both platforms face a common challenge: the need for improved market conditions and user sentiment.

随着Pump.Fun和Raydium之间的竞争继续升温，两个平台都面临着一个共同的挑战：需要改善市场状况和用户情绪。

The broader cryptocurrency market has experienced fluctuations in recent times, which could be impacting overall trading activity and liquidity. For both Raydium and PumpSwap to continue their growth trajectories, a market rebound could be pivotal.

近来，更广泛的加密货币市场经历了波动，这可能会影响整体交易活动和流动性。对于Raydium和Pumpswap都可以继续其增长轨迹，市场反弹可能是关键的。

Despite the competitive rivalry, Solana emerges as the ultimate beneficiary. Increased transaction volume, user engagement, and liquidity on Solana’s blockchain ultimately contribute to its long-term growth and adoption.

尽管有竞争性的竞争，但索拉纳还是成为最终受益人。 Solana区块链上的交易量增加，用户参与度以及流动性最终有助于其长期增长和采用。

As the rivalry between these two platforms unfolds, Solana’s ecosystem continues to expand, offering users a diverse range of decentralized finance (DeFi) solutions.

随着这两个平台之间的竞争，Solana的生态系统继续扩展，为用户提供了多种分散的财务（DEFI）解决方案。

This competitive landscape is likely to evolve further, with more protocols emerging and vying for attention within the Solana ecosystem.

这种竞争格局可能会进一步发展，随着索拉纳生态系统中的更多方案和争夺关注的更多协议。

The ongoing battle between Pump.fun and Raydium highlights the dynamic nature of the Solana ecosystem. While Pump.fun’s strategic move to launch PumpSwap has disrupted Raydium’s dominance, the competition ultimately fuels innovation and growth on the Solana blockchain.

pump.fun和Raydium之间的持续战斗突出了Solana生态系统的动态性质。尽管Pump.Fun启动Pumpswap的战略举动破坏了Raydium的统治地位，但竞争最终为Solana区块链提供了创新和增长。

With both platforms striving to capture market share and optimize their protocols, the coming months will be crucial in determining which protocol emerges as the leading DEX within Solana’s DeFi landscape.

由于两个平台都在努力捕获市场份额并优化其协议，因此未来几个月对于确定索拉纳（Solana）Defi景观中的领先DEX出现了哪些协议至关重要。

Regardless of the outcome, Solana stands to benefit as the network experiences heightened activity, reinforcing its position as one of the top blockchain ecosystems in the crypto space.

无论结果如何，Solana都将受益，因为网络经历了增强的活动，从而加强了其作为加密货币空间中顶级区块链生态系统之一的地位。