PumpSwap, a new decentralized exchange from Pump.fun, has demonstrated significant success in the first ten days following its launch. The platform has achieved impressive results, establishing itself as a major player in the market.
PumpSwap Launch and Key Metrics
Since its launch on March 20, PumpSwap has attracted $2.43 billion in trading volume and generated $5.4 million in protocol fees. The platform registered 700,000 active wallets and 30.59 million swaps, according to Dune Analytics. As of March 30, PumpSwap accounted for 8% of Solana's total DEX trading volume.
Platform Model and Features
PumpSwap was created to simplify the trading of memecoins and provide liquidity by combining various operations on a single platform, eliminating the need for migration seen with Raydium. The platform uses a constant product automated market maker model similar to Raydium v4 and Uniswap v2.
Integration with MEXC and Market Impact
PumpSwap recently integrated with MEXC, a leading exchange, resulting in a significant inflow of users. Over 34 million MEXC users from 170 countries gained access to platform tokens through the MEXC app and website. This move is expected to potentially draw more liquidity to the platform.
Amid a decline in Solana's total DEX volume, PumpSwap and Raydium continue to develop, hoping for a market rebound in the future.
