On a typical Monday morning, Raydium—the unstoppable force of Solana’s AMM universe—decided it was time to face some less-than-flattering rumors. Whispers on the blockchain suggested that Pump.Fun, the memecoin juggernaut, was on the verge of ditching Raydium for its own AMM. Raydium, naturally, was less than thrilled about this.
In an act of sheer confidence—or perhaps just a little overblown self-assurance—Raydium’s core contributor, InfraRAY, dashed to X (formerly Twitter, because we all know rebranding is what cool kids do) to proclaim that any idea of abandoning Raydium would be a “strategic miscalculation.” Oh, and just to add some flair: he doubted Pump.Fun could replicate its dazzling success with its own trading infrastructure. Not exactly the encouragement Pump.Fun was hoping for, huh?
Despite this warning, the token markets did what they do best—panic. Investors started dumping RAY tokens like hot potatoes as rumors swirled that Pump.Fun was testing its own AMM, likely plotting a quiet, sneaky replacement of Raydium’s beloved liquidity pools. If this happens, it could send shockwaves through the decentralized trading scene on Solana. And who doesn’t love a good shake-up?
Now, let’s break it down. Raydium has been the big dog in this space, capturing juicy trading fees from Pump.Fun memecoins that “graduated” from its launchpad to the cool kids’ pools. Raydium’s been raking in the profits while Pump.Fun reaps its own rewards from early-stage token launches. So far, so good, right? Except, well… Pump.Fun doesn’t get a cut of the long-term growth of the tokens. But who’s complaining when you’ve got half a billion dollars sitting in fees, am I right? 🤑
Raydium, for its part, isn’t just feeding off Pump.Fun. It’s churning out over $1 million a day in fees from all its liquidity pools (not just Pump.Fun’s tokens). But—oh, there’s always a but—over 30% of Raydium’s daily volume comes from those same Pump.Fun tokens. So, if Pump.Fun decides to go rogue, Raydium’s daily fee revenue could take a nice little hit. Oh, the drama! 🎭
“100%, revenue hit is real,” InfraRAY confessed in a moment of brutal honesty to CoinDesk. But he also couldn’t resist throwing in a little jab: he thought the 30% drop in RAY’s value was “overblown” and mostly thanks to SOL’s own lackluster performance. Burn.
In the same breath, InfraRAY offered a piece of sage advice for Pump.Fun, warning that their “grand pivot” could face problems like weak infrastructure, a lack of demand for their new tokens, and, worst of all, a total flop in volume when they launch. But hey, what does he know? He’s just the guy who’s been holding Raydium together while it was making those sweet fees. 😏
Pump.Fun co-founder Alon Cohen, always the mysterious figure, refused to comment. So, is this a classic case of “watch this space,” or will it be a colossal misstep for Pump.Fun? Only time—and the blockchain—will tell. ⏳
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2025-02-25 05:56