PANews reported on March 21 that according to The Block, the Solana-based Meme coin release platform Pump.fun has launched a native decentralized exchange (DEX) called PumpSwap. Pump.fun's tokens will be directly transferred to PumpSwap after completing their bonding curve, seemingly skipping the step of migrating to the Solana-based decentralized exchange and automated market maker (AMM) Raydium.

Pump.fun wrote on social media platform X that the move not only eliminates the 6 SOL migration fee, but also opens up opportunities for future creator revenue sharing. Every transaction on PumpSwap will be charged a 0.25% fee, of which 0.2% goes to liquidity providers and 0.05% belongs to the protocol. Pump.fun said that PumpSwap is comparable to Uniswap v2 and Raydium v4 through its constant product AMM mechanism.

PumpSwap’s launch comes at a time when both Pump.fun and Raydium appear to have plans to sideline each other. Pump.fun tested its AMM functionality in late February, while Raydium has reportedly been developing its own meme coin creation platform, LaunchLab, over the past few months. PumpSwap’s launch also comes at a time when Pump.fun has seen a 94% drop in trading volume since the beginning of 2025, and subsequently a decrease in the number of graduated tokens migrating to Raydium. Tokens must reach a market cap of $69,000 on Pump.fun in order to migrate to Raydium for secondary market trading.