Pump.fun launches a DEX called PumpSwap, which can instantly migrate graduation tokens

According to The Block, Pump.fun, a Solana based Meme coin publishing platform, has launched a native decentralized exchange called PumpSwap (DEX). After completing its binding curve, Pump.fun's token will be directly transferred to PumpSwap, seemingly skipping the step of migrating to Solana based decentralized exchange and automated market maker (AMM) Raydium. Pump.fun wrote on social media platform X that this move not only eliminates the migration fee for 6 SOLs, but also opens up opportunities for future creators to share their profits. Every transaction on PumpSwap incurs a fee of 0.25%, of which 0.2% belongs to the liquidity provider and 0.05% belongs to the agreement. Pump.fun states that PumpSwap is comparable to Uniswap v2 and Raydium v4 through its constant product AMM mechanism. The launch of PumpSwap comes at a time when Pump.fun and Raydium seem to have plans to exclude each other. Pump.fun tested its AMM functionality at the end of February, while Raydium has reportedly been developing its own Meme coin creation platform, LaunchLab, over the past few months. The launch of PumpSwap also coincided with a 94% decrease in trading volume for Pump.fun since early 2025, followed by a decrease in the number of graduation tokens migrating to Raydium. The token must reach a market value of $69000 on Pump.fun in order to migrate to Raydium for secondary market trading.