In just ten days, PumpSwap has established itself as a significant player in the decentralized exchange ecosystem. Launched by Pump.fun, the platform already shows impressive figures.
Launch and Achievements of PumpSwap
PumpSwap was launched on March 20, 2024, and quickly made headlines. In ten days, the decentralized exchange processed a volume of $2.43 billion, attracting over 700,000 active wallets and facilitating over 30.59 million trades, generating $5.4 million in fees for the protocol.
Unique Reward System
PumpSwap has captured 8% of the market share of decentralized exchanges on Solana, while Raydium retains 74%. The fee structure is only 0.25%, with 0.20% going to liquidity providers and 0.05% to the protocol itself. A revenue-sharing system for creators is expected soon.
Strategic Integration with MEXC
On March 25, PumpSwap reached a milestone with its integration with MEXC, a major exchange platform. This collaboration allows 34 million MEXC users across 170 countries to access PumpSwap tokens directly. This integration happens as the decentralized exchanges' global volume on Solana has decreased.
PumpSwap stands out in the rapidly changing market with its unique proposition of combining trading, liquidity management, and token creation on a single platform. This could revitalize the memecoins ecosystem on Solana in the coming months.
