raydium，orca和pump.fun：solana dex平台的新三人

隨著索拉納（Solana）繼續引起人們對其模因硬幣狂熱和閃電般的低收入交易的關注，其領先的分散交易所之間的競爭正在加熱。

Solana's DeFi ecosystem is heating up as several decentralized exchange platforms are battling for dominance amidst the blockchain's meme coin frenzy and popularity for low-fee transactions.

索拉納（Solana）的Defi生態系統正在加熱，因為在區塊鏈的模因硬幣瘋狂和低電費交易中，幾個分散的交換平台正在爭奪優勢。

While Raydium has maintained the top spot in weekly trading volume, challengers like Orca and Pump.fun are quickly closing the gap, according to recent figures from Blockworks.

根據Blockworks的最新數據，儘管Raydium在每週交易量中保持了每週交易量的排名第一，但諸如Orca和Pump.fun之類的挑戰者正在迅速縮小差距。

The roots of this competition can be traced back to March when Pump.fun split from Raydium to introduce its own decentralized exchange, PumpSwap.

當pump.fun與Raydium分開以引入自己的分散交易所Pumpswap時，這項比賽的根源可以追溯到3月。

Prior to the split, Raydium served as the primary liquidity provider for tokens emerging from Pump.fun. In a strategic counter, Raydium unveiled LaunchLab, a dedicated platform for meme coin creation.

在分裂之前，Raydium是來自pump.fun出現的代幣的主要流動性提供商。在戰略櫃檯中，Raydium揭幕了LaunchLab，這是一個專門的模因硬幣創建平台。

Today, with PumpSwap witnessing a surge in trading volume and LaunchLab facilitating the launch of thousands of tokens, both platforms are vying for user attention and narrative control.

如今，隨著Pumpswap目睹了交易量的激增和啟動LAB，促進了數千個代幣的推出，這兩個平台都在爭奪用戶的注意力和敘事控制。

LaunchLab: Raydium's Bold Move Comes with Early Hurdles

LaunchLab：Raydium的大膽舉動帶來了早期障礙

Raydium's launch of LaunchLab on April 16 signaled a significant shift in its strategy, transitioning from primarily serving as a backend automated market maker to establishing itself as a dedicated launchpad for meme coins.

Raydium於4月16日推出了LaunchLAB，這表明其戰略發生了重大轉變，從主要作為後端自動化做市商轉變為將自己確立為Meme Coins的專用發射台。

The announcement followed closely on the heels of Pump.fun's disruptive move to launch PumpSwap, effectively cutting Raydium out of its token launch flow and heightening the competition in the Solana DEX space.

該公告緊隨其後。 FUN的顛覆性舉動以發射Pumpswap的顛覆性，有效地將Raydium從代幣的發射流中降低了，並增加了Solana Dex Space的競爭。

LaunchLab was designed with versatility at its core, offering two distinct paths for token creation. The "JustSendIt" option allows anyone to launch a token without writing a single line of code. It utilizes a bonding curve model, requiring 85 SOL to be raised before liquidity is automatically deployed into a Raydium pool.

LaunchLab的設計具有多功能性，為代幣創建提供了兩條不同的途徑。 “ JustSendit”選項允許任何人在不編寫單行代碼的情況下啟動令牌。它利用粘結曲線模型，在將流動性自動部署到Raydium池中之前，需要提高85個SOL。

For more experienced developers, LaunchLab provides a custom mode that grants full control over tokenomics, vesting schedules, and other advanced parameters.

對於經驗豐富的開發人員，LaunchLAB提供了一種自定義模式，該模式可以完全控制令牌，歸屬時間表和其他高級參數。

Raydium also integrated strong incentives into the platform. A 1% trading fee is shared among the protocol's operations, $RAY token buybacks, and a community pool. Token creators receive 10% of trading fees, and the platform includes a referral system that rewards users with 10 basis points of swap volume in SOL for introducing new participants.

Raydium還將強大的激勵措施納入了平台。協議的運營，$ ray代幣回購和社區池之間共享1％的交易費用。代幣創建者將獲得交易費的10％，該平台包括一個推薦系統，該系統獎勵用戶在SOL中具有10個基點的用戶，以介紹新的參與者。

Despite its feature-rich offering, LaunchLab's early results showed a mixed trend. In less than a week, it enabled the launch of over 3,800 tokens. However, only 44 tokens made it to active trading on Raydium's AMM, reflecting a low 1.12% success rate.

儘管提供了功能豐富的產品，但LaunchLab的早期結果表現出了不同的趨勢。在不到一周的時間裡，它使得超過3,800個令牌能夠推出。但是，只有44個令牌能夠在Raydium的AMM上進行積極的交易，這反映了1.12％的成功率。

Still, LaunchLab's debut managed to generate buzz around the Solana ecosystem. Notably, SOL's price jumped nearly 6%, briefly breaking key resistance levels, suggesting that the market is closely watching how this rivalry unfolds.

儘管如此，LaunchLab的首次亮相還是在Solana生態系統周圍引起了嗡嗡聲。值得注意的是，Sol的價格上漲了近6％，短暫地打破了關鍵阻力水平，這表明市場正在密切關注這種競爭的發展。

From Meme Coin Launcher to Solana DEX Heavyweight

從Meme Coin Launcher到Solana Dex重量級

The debut of PumpSwap on March 21 marked a major milestone for Pump.fun, eliminating the need for token launches to rely on Raydium for liquidity. This shift eliminated the standard 6 SOL migration fee and drastically simplified the process for creators.

3月21日，Pumpswap的首次亮相標誌著泵的主要里程碑。這種轉變消除了標準的6 SOL遷移費，並大大簡化了創建者的過程。

The impact was immediate and overwhelming. In just a few days, PumpSwap surpassed $2.5 billion in total trading volume, hitting a daily peak of $417.8 million.

影響是直接和壓倒性的。在短短幾天內，Pumpswap的總交易量超過了25億美元，每天達到4.178億美元。

During this explosive phase, more than 264,000 wallets were active, highlighting the scale of user adoption.

在這個爆炸性階段，超過264,000個錢包活躍，突出了用戶採用的規模。

Pump.fun announced that all tokens completing their bonding curves would now transition directly to PumpSwap. The platform offers benefits such as instant migrations, zero fees, improved liquidity, and, coming soon, a revenue-sharing model for token creators.

Pump.Fun宣布，所有完成其粘結曲線的代幣現在都將直接過渡到Pumpswap。該平台提供了諸如即時遷移，零費用，提高流動性的好處，以及即將推出的代幣創建者的收入分享模型。

With a lean and appealing fee structure of just 0.25% per trade, split between liquidity providers (0.20%) and the protocol (0.05%), PumpSwap competes directly with established players. Its architecture draws inspiration from platforms like Raydium V4 and Uniswap V2, enabling permissionless liquidity pools and low operational friction.

每次交易的精益和吸引人的費用結構僅為0.25％，流動性提供者（0.20％）和協議（0.05％）之間的分配，Pumpswap直接與已建立的參與者競爭。它的架構從Raydium V4和Uniswap V2等平台中汲取靈感，使無許可的流動性池和低操作摩擦。

However, not all news has been positive. Pump.fun is currently facing legal difficulties. A class-action lawsuit filed by Burwick Law alleges that the platform facilitated the sale of unregistered securities, with particular attention given to the PNUT token.

但是，並非所有新聞都是積極的。 pump.fun目前面臨法律困難。 Burwick Law提出的集體訴訟稱該平台有助於出售未註冊的證券，並特別關注Pnut令牌。

The suit claims the platform enabled Ponzi-like behavior without offering sufficient protection for investors. While the case remains unresolved, it casts a shadow over PumpSwap's otherwise explosive entrance.

該訴訟聲稱該平台實現了類似龐氏騙的行為，而沒有為投資者提供足夠的保護。雖然案件仍未解決，但它卻對Pumpswap原本爆炸性的入口蒙上了陰影。

Despite this legal turbulence, the larger Solana ecosystem may emerge as the ultimate beneficiary. With Raydium, Pump.fun, and now Orca in fierce competition, trading activity is surging.

儘管有這種法律動盪，但較大的Solana生態系統可能會成為最終的受益人。隨著Raydium，Pump.Fun和現在的Orca，在激烈的競爭中，貿易活動正在激增。

Meme coin launches are booming, and user engagement is reaching new highs. In this intensifying DEX war, Solana stands as the true winner. It is gaining momentum as the go-to blockchain for meme coin innovation and high-speed decentralized trading.

模因硬幣的發布正在蓬勃發展，用戶參與到了新的高點。在這場加劇的DEX戰爭中，索拉納（Solana）成為真正的贏家。作為模因硬幣創新和高速分散交易的首選區塊鏈，它正在獲得動力。

The post Solana DEX platforms battle for dominance as Pump.fun soars and Raydium's LaunchLab sparks interest appeared first on BlockChain.com.

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