Part 1. DEX Updates
— Key Takeaways —
💡 DODO integrated the Coinbase PAY service and launched a $MAI - $BUSD liquidity mining campaign on BNB Chain.
💡 Sushiswap launched a proposal to form a community oversight committee.
💡 1inch enters into a partnership with KyberSwap to integrate its liquidity; initiated proposal to discuss diversifying 1inch DAO treasury funding to include ETH, WETH, WBTC, DAI, USDT, etc. as coins supported by the treasury.
💡 The overall market volume declined this week compared to last week. The better performing exchanges were DODO, Balancer, Jupiter, Sushiswap; the worse performing exchanges were Synthetix, Curve, etc., with Synthetix dropping significantly, currently out of the top 10.
— DEX Roundup —
- Integrated Coinbase Pay service.
- Launch a $MAI - $BUSD liquidity mining campaign on BNB Chain.
- deposited 1M $PSP tokens to their bug bounty through the Hats.Finance Dapp.
- Posted a proposal on whether they should add a Build-a-Farm Feature powered by Cryption Network.
- Launching the proposal, which aims to form a community oversight committee for community interaction, taking snapshots, multi-signing, approving budgets, and resolving personnel conflicts.
— Market Overview —
- Integrated Trust Wallet.
- The UI of POOL has been updated to integrate Farm functions on the POOL page, allowing users to add or remove liquidity.
- 1inch founder @k06a gave a presentation at the 2022 World Economic Forum in Davos.
- Launching the proposal, which aims to diversify the 1inch DAO coffers, which currently only consist of USDC, the proposal wants to include ETH, WETH, WBTC, DAI, USDT, etc. as coins to be supported by the coffers.
- Launched the proposal, which aims to adjust the revenue of the 1inch DAO Treasury.
- Partnered with Kyberswap and established liquidity.
- Euro Coin ( stablecoin with 1:1 peg to Euro）backed by full reserves on Curve.
Part 2. Data Tracking
Trading Volume and Market Share Analysis
In terms of trading volume, the overall market was down this week compared to last week. The better performers were DODO, Balancer, Jupiter, and Sushiswap, all of which saw significant gains. The poorer performing exchanges were Synthetix, Curve, etc.
In terms of market share, the top three DEXs are Uniswap, Pancakeswap, and Curve, with Pancakeswap overtaking Curve and moving into second place this week, with Uniswap seeing a significant increase in relative share. Synthetix slipped badly and fell out of the top 10, the other poor performers were Defichain and Osmosis, both of which fell out of the top 20.
Aggregators on Ether saw a small decrease in market share compared to last week, from 21.35% to 20.39%.
This week's Whale trades on ETH had minor changes compared to last week, with small to large sized trades remaining more or less the same.
Part 3. Project Analysis
- Contango is a new type of decentralized exchange that offers future contracts as well as a fixed rate market.
- Contango does not use either the AMM mechanism or the order book model. It innovates a market-making mechanism that enables the exchange of tokens through a fixed-rate market by limiting the time to cash.
- Contango is not in long-term operation and still needs to be tested in practice; this means that early participants need to take on liquidity risk, market risk and smart contract risk.