pump.fun has announced the launch of PumpSwap to compete with the Solana ecosystem DEX.

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On March 21, CoinDesk reported that Pump.fun is vying for a larger share of the Solana on-chain DeFi economy. This highly popular Meme coin Launchpad platform launched a token exchange service based on protocol liquidity pools on Thursday. The service, named PumpSwap, positions the project directly in competition with Automated Market Makers (AMMs) that specifically provide on-chain token trading within the Solana ecosystem. Previously, high-volume Meme coins would often 'graduate' to Raydium, the long-standing core platform for Solana DeFi liquidity pools. However, Pump.fun will now provide initial liquidity for promising tokens directly on PumpSwap. This fully-owned model will drop project launch costs, its founder revealed, and will change Pump.fun's historically high revenue model. According to the project launch documents, the founders of Pump.fun believe that PumpSwap can become the core infrastructure for permissionless trading of all tokens on Solana. They have reached agreements with several token projects that will establish liquidity directly within the PumpSwap framework.

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