PumpSwap, a new DEX on Solana, reached over $1 billion in trading volume in its first week and generated $1 million in daily fees.
PumpSwap redirected the migration of memecoins from Raydium to its platform, offering a smoother trading experience and eliminating migration fees.
Within days of its launch, PumpSwap became the second-largest automated market maker (AMM) on the Solana network, attracting meme tokens with funny names like DOGEMOON and ballscoin.
PumpSwap's popularity is fueled by its lower fees, incentivizing liquidity providers and offering open liquidity for new token creators and smaller communities.