PumpSwap Records $668K Trading Volume on Launch Day, Just 0.2% of Raydium’s

PumpSwap, a decentralized exchange (DEX) developed by Pump.fun, officially debuted on Solana on March 21. Although its launch attracted significant attention within the crypto community, its first-day performance might fell short of expectations.

Data tracked by @ai_9684xtpa shows that PumpSwap achieved a trading volume of $668,000 within its first 24 hours, positioning it as the 7th largest DEX in the Solana ecosystem. During the same period, the platform’s Total Value Locked (TVL) reached $21.49 million.

Despite its initial traction, PumpSwap’s scale pales in comparison to established DEXs. Its 24-hour trading volume accounted for just 0.2% of Raydium, 0.04% of Uniswap, and 0.03% of PancakeSwap. Similarly, its TVL represented only 1.87% of Raydium, 0.54% of Uniswap, and 1.28% of PancakeSwap. These figures underscore the considerable gap between PumpSwap and its more mature counterparts.

As previously reported, Pump.fun recently introduced its DEX platform, PumpSwap, positioning it as a direct competitor to Solana's leading DEXs, such as Raydium. Built on Solana, PumpSwap V1 adopts a Constant Product Automated Market Maker (AMM) model, similar to Raydium V4 and Uniswap V2. The platform enables users to create liquidity pools for free, add liquidity to existing pools, and trade tokens with ease.

To attract users and liquidity providers, PumpSwap has introduced several innovative features. One of its key improvements is the streamlined token migration process, which now offers instant transitions with zero fees—a notable reduction from the previous 6 SOL charge. Additionally, PumpSwap plans to roll out a revenue-sharing model for creators. The platform charges a standard 0.25% transaction fee, of which 0.05% is retained by the protocol. Once implemented, the revenue-sharing model will allocate a portion of the protocol’s earnings to coin creators, incentivizing greater participation in the ecosystem.

These features highlight PumpSwap’s ambition to establish itself within the Solana DEX ecosystem by prioritizing user-friendly and creator-focused solutions. However, as a newcomer, it must contend with formidable competition from established platforms like Raydium and Jupiter, which have secured user trust and liquidity through years of proven performance. While the launch marks a promising start, PumpSwap’s ability to scale and attract significant liquidity will determine its long-term success in the highly competitive DeFi landscape.