Pump.fun Unveils Native DEX, Cutting Migration Costs and Unlocking New Revenue Models
Solana-based memecoin platform Pump.fun has launched PumpSwap, a decentralized exchange that will serve as the new home for its graduated tokens. This move bypasses Solana’s leading DEX, Raydium, eliminating the previous 6 SOL migration fee and setting the stage for potential revenue sharing with creators.
PumpSwap integrates directly with Pump.fun’s bonding curve mechanism, automatically transitioning tokens once they reach the required market cap threshold.
PumpSwap vs. Raydium: A Competitive Turn
Pump.fun’s decision to launch its own DEX marks a competitive shift. Both platforms had reportedly been developing overlapping features, with Raydium building a memecoin launchpad called LaunchLab, while Pump.fun tested its AMM in February.
The PumpSwap DEX charges a 0.25% fee per trade, with 0.2% going to liquidity providers and 0.05% to the protocol—mirroring Uniswap v2 and Raydium v4 mechanics.
Reviving a Fading Ecosystem
Once the fastest-growing memecoin platform on Solana, Pump.fun has seen its trading volume fall 94% in 2025. The number of tokens reaching migration thresholds also dropped sharply, indicating reduced user interest.
The launch of PumpSwap is a strategic move to reinvigorate user engagement and build a self-sustaining ecosystem. Co-founder Alon Cohen said the platform aims to "escape the crypto bubble" and attract non-crypto natives through better UX and creator tools.
