Pump.fun, a popular token launchpad on Solana, has launched its decentralized exchange (DEX), dubbed PumpSwap, to compete with the likes of Orca and Raydium. Its developer says the DEX will enhance the token migration experience and enable revenue sharing with token creators.

The PumpSwap launch comes three weeks after rumors made rounds that Pump.fun intended to deploy its automated market maker, leading to a massive drop in Raydium’s token price. Interestingly, Raydium has announced plans to launch its own meme coin launchpad to rival Pump.fun.

Meanwhile, Pump.fun’s creator says PumpSwap will reduce the token migration time and cut the related cost from six SOL to zero. The DEX will also improve liquidity for deployed tokens. Currently, it takes approximately ten minutes for a token whose market cap has reached $100,000 on Pump.fun to be migrated to a decentralized exchange. According to the project’s latest statement, token migration to PumpSwap will now be instant.

Pump.fun Announce Revenue-Sharing Model

Pump.fun has generated $600 million in revenue since its launch in January 2024. Many have criticized the protocol’s developer for failing to share this amount with token creators. As a result, Pump.fun has announced that a huge portion of the fees collected on PumpSwap will be shared among coin creators.

While the token launchpad hasn’t revealed the date this revenue-sharing model will be implemented, an unidentified source told crypto media house Decrypt on Thursday that it could take effect in less than a month.

Which Major Tokens Can You Trade on PumpSwap Today?

Besides the newly migrated tokens, several popular coins are available for trading on PumpSwap. They include PENGU, Jupiter’s native token JUP, and USDC.

It is worth mentioning that token creators who didn’t launch their projects via Pump.fun can still migrate them to PumpSwap. They only need to create a liquidity pool to facilitate trading.

Pump.fun to Run a Bug Bounty Program

After losing nearly $2 million through a cyberattack, Pump.fun is taking no chances this year. The protocol plans to run a bug bounty program worth $2 million to encourage Web3 developers to identify and report vulnerabilities on PumpSwap and the token launchpad’s code.

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