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

随着索拉纳（Solana）继续引起人们对其模因硬币狂热和闪电般的低收入交易的关注，其领先的分散交易所之间的竞争正在加热。

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.

索拉纳（Solana）的Defi生态系统正在加热，因为在区块链的模因硬币疯狂和低电费交易中，几个分散的交换平台正在争夺优势。

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.

根据Blockworks的最新数据，尽管Raydium在每周交易量中保持了每周交易量的排名第一，但诸如Orca和Pump.fun之类的挑战者正在迅速缩小差距。

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

当pump.fun与Raydium分开以引入自己的分散交易所Pumpswap时，这项比赛的根源可以追溯到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是来自pump.fun出现的代币的主要流动性提供商。在战略柜台中，Raydium揭幕了LaunchLab，这是一个专门的模因硬币创建平台。

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，随着Pumpswap目睹了交易量的激增和启动LAB，促进了数千个代币的推出，这两个平台都在争夺用户的注意力和叙事控制。

LaunchLab: Raydium's Bold Move Comes with Early Hurdles

LaunchLab：Raydium的大胆举动带来了早期障碍

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于4月16日推出了LaunchLAB，这表明其战略发生了重大转变，从主要作为后端自动化做市商转变为将自己确立为Meme Coins的专用发射台。

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.

该公告紧随其后。FUN的颠覆性举动以发射Pumpswap的颠覆性，有效地将Raydium从代币的发射流中降低了，并增加了Solana Dex Space的竞争。

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的设计具有多功能性，为代币创建提供了两条不同的途径。 “ JustSendit”选项允许任何人在不编写单行代码的情况下启动令牌。它利用粘结曲线模型，在将流动性自动部署到Raydium池中之前，需要提高85个SOL。

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

对于经验丰富的开发人员，LaunchLAB提供了一种自定义模式，该模式可以完全控制令牌，归属时间表和其他高级参数。

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还将强大的激励措施纳入了平台。协议的运营，$ ray代币回购和社区池之间共享1％的交易费用。代币创建者将获得交易费的10％，该平台包括一个推荐系统，该系统奖励用户在SOL中具有10个基点的用户，以介绍新的参与者。

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.

尽管提供了功能丰富的产品，但LaunchLab的早期结果表现出了不同的趋势。在不到一周的时间里，它使得超过3,800个令牌能够推出。但是，只有44个令牌能够在Raydium的AMM上进行积极的交易，这反映了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.

尽管如此，LaunchLab的首次亮相还是在Solana生态系统周围引起了嗡嗡声。值得注意的是，Sol的价格上涨了近6％，短暂地打破了关键阻力水平，这表明市场正在密切关注这种竞争的发展。

From Meme Coin Launcher to Solana DEX Heavyweight

从Meme Coin Launcher到Solana Dex重量级

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的首次亮相标志着泵的主要里程碑。这种转变消除了标准的6 SOL迁移费，并大大简化了创建者的过程。

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.

影响是直接和压倒性的。在短短几天内，Pumpswap的总交易量超过了25亿美元，每天达到4.178亿美元。

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

在这个爆炸性阶段，超过264,000个钱包活跃，突出了用户采用的规模。

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，所有完成其粘结曲线的代币现在都将直接过渡到Pumpswap。该平台提供了诸如即时迁移，零费用，提高流动性的好处，以及即将推出的代币创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费用结构仅为0.25％，流动性提供者（0.20％）和协议（0.05％）之间的分配，Pumpswap直接与已建立的参与者竞争。它的架构从Raydium V4和Uniswap V2等平台中汲取灵感，使无许可的流动性池和低操作摩擦。

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，并非所有新闻都是积极的。 pump.fun目前面临法律困难。 Burwick Law提出的集体诉讼称该平台有助于出售未注册的证券，并特别关注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.

该诉讼声称该平台实现了类似庞氏骗的行为，而没有为投资者提供足够的保护。虽然案件仍未解决，但它却对Pumpswap原本爆炸性的入口蒙上了阴影。

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.

尽管有这种法律动荡，但较大的Solana生态系统可能会成为最终的受益人。随着Raydium，Pump.Fun和现在的Orca，在激烈的竞争中，贸易活动正在激增。

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.

模因硬币的发布正在蓬勃发展，用户参与到了新的高点。在这场加剧的DEX战争中，索拉纳（Solana）成为真正的赢家。作为模因硬币创新和高速分散交易的首选区块链，它正在获得动力。

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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