DEX|Weekly Brief 7.22-8.4 (EN)
0x7056
August 5th, 2022

Part 1. DEX Updates

— Key Takeaways —

💡 QuickSwap initiated a proposal about using banner ads to increase the revenue. The proposal has passed.

💡 Sushiswap planned to launch cross-chain product — SushiXSwap which is built on LayerZero’s Stargate.

💡 Pangolin planned to launch on FlareNetworks in August.

💡 1inch announced to partner with Wirex. The 1inch API will be added to Wirex’s wallet.

💡 The overall market trading volume rose significantly last two weeks. One potential reason was that growing cyber attacks increased on-chain transactions. The better performing exchanges were Uniswap, Sushiswap and Sunswap; the worse performing exchanges were Curve, Pancakeswap, etc.

— DEX Roundup —

QuickSwap

  • QuickSwap initialized a proposal about using banner ads to increase the revenue. The proposal has passed.

Sushiswap

  • Sushiswap planned to launch cross-chain product SushiXSwap which is built upon LayerZero’s Stargate protocol. SushiXSwap will provide cross-chain AMM trading services.

— Market Overview —

Pangolin

  • Pangolin planned to launch on FlareNetworks in August.

1inch

  • AAVE added support on 1inch token as collateral, this would allow users to borrow and lend 1inch token.
  • 1inch announced to partner the fiat trading platform Wirex. The 1inch API will be added to Wirex’s wallet.

SpiritSwap

  • Spookyswap initiated a proposal to discuss the emission restriction when launching V2. The community agreed to launch V2 with 10% emission restriction.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall market volume rose significantly last two weeks. One potential reason was that growing cyber attacks increased on-chain transactions. The better performing exchanges were Uniswap, Sushiswap, Sunswap; the worse performing exchanges were Curve, Pancakeswap, etc.

Source: Coingecko
Source: Coingecko

In terms of market share, the top three DEXs were: Uniswap, Pancakeswap, and DODO. DODO surpassed Curve and rose to third place while Uniswap's relative share has risen sharply. Meanwhile, Uniswap's relative share were increasing means other exchanges’ relative shares were declined.

From the perspective of share, DODO had a better performance. It were in the top five past few weeks and successfully broke through the third this week. Its share this week was very close to Pancakeswap’s. Sushiswap rose to fifth place. Saber, Trader Joe and QuickSwap were having worse performance.

Source: Coingecko
Source: Coingecko

The Aggregator share of DEX volume on Ethereum decreased slightly compared to the previous two weeks, from 18.57% to 15.23%.

 Source: Dune Analytics
Source: Dune Analytics

Whale Watch

Compared with the previous two weeks, the large-scale, medium-scale and small-scale whale trades on Ethereum remain largely the same in the past two weeks.

 Source: Dune Analytics
Source: Dune Analytics

Part 3. Project Analysis

Sudoswap

  • Sudoswap is a NFT marketplace. It allows users to create liquidity pools using bonding curve and customize price curves. The protocol determines the NFT price through the aggaregated pools to improve the liquidity of NFT transactions.
  • Sudoswap provides NFT with on-chain liquidity, which can be accessed by other protocols. Its features includes low gas fee, low transaction fee, and no royalties.
  • Since the launch, Sudoswap’s trading volume has increased rapidly. According to Dune Analytics, its cumulative trading volume breakouts 2.4 million dollars.
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