Before PumpSwap, graduated coins migrated to a Raydium V4 pool Here's what a trade on a $100M+ coin costs in each: Raydium V4 (old setup): 0.25% total - 0.22% LP - 0.03% to raydium - 0% to pump - 0% to holders/creators PumpSwap (now): 0.3% total - 0.20% LP - 0.05% to pump - 0.05% to holders/creators Note: Holder Rewards/Creator Fees are the main difference, and were introduced far later than PumpSwap itself. These fees are higher at lower market caps and reduce as market caps increase based on the fact that high fee tokens are far less attractive to whales who speculate on higher market cap tokens It was VERY important for Pumpfun to keep the fee UX as close to the OG as possible, as that's what the end user was used to and enjoyed. The only difference is Holder Rewards/Creator Fees (which reward people for holding a token or the creator of the token) alongside an additional 0.02% fee for Pumpfun. This did not "kill the runners." So, the LPs are essentially the same, with the main difference being the rewards fee and an additional 0.02% fee for Pumpfun. Retweeted by @a1lon9 from @json1444