PumpSwap DEX Reaches $1.52 Billion in Trading Volume Just a Week After Launch

Dune Analytics data shows that PumpSwap DEX has handled more than 14 million swaps, bringing in a total of $303 million in fees.

Pump.fun’s new decentralized exchange, PumpSwap, has already reached $1.52 billion in trading volume just a week after launch.

According to Dune Analytics, the exchange has handled more than 14 million swaps, bringing in a total of $3.03 million in fees. The current 0.25% trading fee structure allocates 0.20% to liquidity providers and 0.05% to the protocol, but this will change after Creator Revenue Sharing is implemented.

The majority of PumpSwap transactions are small despite the high trading volume. Data from Flipside reveals that 21.40% of trades fall between $10 and $100, and 65.22% involve amounts smaller than $10. Currently, 441,000 wallets are actively engaging with the platform.

As of March 25, PumpSwap commands a 19% market share, trailing Raydium (RAY) with a 45% share.

Constructed on Solana (SOL), PumpSwap commenced operations on March 20 and utilizes a constant product automated market maker model, similar to Raydium v4 and Uniswap (UNI) v2. AMMs, or decentralized exchanges, facilitate trading without intermediaries by employing liquidity pools to process transactions, distinct from the order books used in centralized exchanges.

To facilitate seamless trading, PumpSwap has introduced instant migrations, eliminating the previous 6 SOL migration fees. The platform also supports tokens beyond memecoins, including those from Pudgy Penguins (PENGU), Aptos (APT), Tron (TRX), Jupiter (JUP), and LayerZero (ZRO), along with wrapped assets like Coinbase’s (COIN) BTC (BTC), Ethena’s USDe, and Frax Finance’s (FRX) frxUSD and FXS.

As competition in the Solana memecoin domain intensifies, Raydium has launched LaunchLab, a memecoin factory offering token creation and launch features much like those provided by Pump.fun.

LaunchLab grants projects the ability to modify token prices dynamically and allows third-party interfaces to set custom fees, catering to diverse user preferences. However, despite these features, the platform has yet to attract significant attention.