- Pump.fun has launched its own decentralized exchange PumpSwap
- PumpSwap functions as “Raydium v4 and Uniswap v2”
- Pump.fun will migrate its coins to the new DEX
The rivalry between Solana memecoin launchpad Pump.fun and popular DEX Raydium has taken a twist after the memecoin platform launched its own DEX, PumpSwap. PumpSwap “functions similarly to Raydium v4 and Uniswap v2” and uses an in-house automated market maker model (AMM). The DEX’s launch means that Pump.fun-based tokens will no longer be migrated to Raydium when they complete their bonding curve, something that comes barely a day after reports emerged that Raydium is creating a Pump.fun rival called LaunchLab.
From 6 SOLs To Free Instant Migrations
The memecoin platform disclosed that PumpSwap will offer free instant migrations for tokens that complete their bonding curve. According to Pump.fun, such migrations previously cost six SOL tokens.
Introducing PumpSwap, Pump’s new native DEX
beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap
PumpSwap enables
– instant migrations
– 0 migration fees (down from 6 SOL)
– more liquidity
– creator revenue sharing (coming soon)& more 👇 pic.twitter.com/T9BkmmaVVS
— pump.fun (@pumpdotfun) March 20, 2025
According to the memecoin launchpad, the decision to create a decentralized exchange was influenced by the need to lower the friction between token creation and trading. It noted that migrations were the main friction point because they introduced unnecessary complexities that slowed “a coin’s momentum.”
The new DEX is also working on a model to allow it to share its revenue with token developers. Trades on the platform carry a 0.25% transaction fee with most of it going to liquidity providers. PumpSwap will allow users to trade a variety of tokens, create their “own liquidity pool[s] for free [and] add to existing liquidity pools.”
Some of the tokens available for trading include Pudgy Penguins’ PENGU, Aptos’ APT, and Coinbase’s cbBTC. PumpSwap’s smart contracts have passed through nine audits and the platform is running an audit competition with over $2 million in prizes.
PumpSwap allows you trade much more than memes
we’re proud to announce that you can now trade select tokens from our verified partners, many of whom have bridged to Solana for the very first time!
huge thank you to@pudgypenguins $PENGU @aptos $APT@trondao $TRON$cbBTC by…
— pump.fun (@pumpdotfun) March 20, 2025
An Open Source Future
Pump.fun disclosed that it plans to “eventually open source the PumpSwap program” allowing the public to use its source code to make similar platforms.
The discord between Pump.fun and Raydium became visible when the memecoin platform announced it was creating its own AMM model thereby ditching Raydium’s AMM. The news saw Raydium’s token price plummet as investors anticipated that the memecoin platform would migrate its coins from Raydium.
With Raydium being a popular Solana DEX, it’s to be seen whether PumpSwap will be able to attract a sizeable following considering the number of Pump.fun tokens entering active trading have dropped by over 80%.
