Raydium, Pump.Fun and Jito Become Solana's Main Sources of Income

Bittime - In recent months, the Solana blockchain network recorded a large increase in transaction volume and the number of daily active addresses. Raydium, Pump.Fun, and Jito became a major contributor to transaction fee revenue on the Solana network.

Raydium: Platform DEX Solana

Raydium, a DEX operating on the Solana network, is the largest source of revenue for this ecosystem. In July 2024, Raydium recorded trading volume reaching $30 billion, making it the second largest DEX after Uniswap. 

Revenue from transaction fees generated by Raydium in July reached more than $65 million, almost double the revenue in June of only $33 million.  

Pump.fun: Platform Meme Coin Solana

Pump.fun, which launched in March 2024, has become a new phenomenon in the Solana ecosystem. This platform allows users to create meme coins easily. 

Pump.fun has become popular among the crypto community looking to create and trade celebrity or political themed tokens. Since its launch, Pump.fun has facilitated the creation of more than 1.5 million meme coins.

In July, Pump.fun recorded transaction fee revenue of $28 million, the highest figure since the platform launched. This success is due to the friendly UI and low transaction fees offered by Solana, which makes Pump.fun even more attractive to users who want to participate in the meme coin market.

Jito: MEV Protocol on Solana

Apart from Raydium and Pump.fun, Jito has also established its position as a popular Maximal Extractable Value (MEV) protocol on the Solana network. Jito allows traders to send transactions in bundles with certain offers. 

In July, MEV tips collected by validators using clients jito reached about $36 million, up 26% compared to June. This upgrade marks a significant spike in on-chain activity on the Solana network.

This increase also leads to an increase in the number of MEV tips paid to validators. On July 28 alone, daily MEV tips soared to $3.2 million, becoming the highest earning day on the Solana network in July.

Contribution Raydium, Pump.Fun, and Jito for Solana

These three DApps are not only major revenue contributors to the Solana network, but also play an important role in attracting more users to the ecosystem. With over 2 million daily active addresses (based on a 7-day average), Solana demonstrated its capacity to handle high transaction loads.

Raydium with its large trading volume, Pump.Fun with its meme coin popularity, and Jito with its lead in the MEV space, all three have contributed significantly to the sustainability and growth of Solana.  

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