The Pump.fun platform was launched on the Solana blockchain, allowing users without technical skills to create and launch memecoins. Since its launch, more than 2.4 million unique tokens have been created, but 98.5% of them have not been listed on decentralized exchanges such as Raydium.
Raydium is a decentralized finance (DeFi) protocol and automated market maker (AMM) built on the Solana blockchain. It integrates with Serum’s order book, providing fast and cost-effective token trading. In January 2025, Raydium recorded a peak daily trading volume of $16 billion, driven by high demand for memecoins.
Recently, Raydium announced the launch of LaunchLab, a platform for memecoins, which some believe is a response to Pump.fun’s plans to develop its own AMM. Previously, Pump.fun and Raydium had a symbiotic relationship, but now Pump.fun is aiming to reduce its reliance on Raydium by retaining liquidity and fees within its platform. Despite significant revenues at the end of 2024, memecoin activity has declined, and Raydium is adapting to remain competitive.
These events highlight the dynamism of the Solana ecosystem and the efforts of key players to adapt to changing market conditions.
