DEX|Weekly Brief 4.28 - 5.12 (EN)

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Part 1. DEX Updates

— Key Takeaways —

💡 DODO launched DIP-13: Migration of 1.5 Million $DODO Tokens to Polygon for Liquidity Mining Incentives

💡 Trading volume and TVL fluctuated drastically due to market volatility.

💡 Bancor V3 is officially live.

💡 Curve launched a community governance proposal to allow users to stake CRVE for magic CRV (mCRV).

💡 Trading volume across the market increased drastically due to market volatility.

— DeFi Closeup —

DODO

  • DODO launched DIP-13: Migration of 1.5 Million $DODO Tokens to Polygon for Liquidity Mining Incentives
  • Launched recurring weekly NFT campaign “DODO’s Crazy Thursday” that gives away one DODO Minion NFT per week.

Paraswap

  • Integrated Platypus liquidity on Avalanche for stablecoin pair price quotes.

Tokenlon

  • Optimized limit order feature.

Bancor

  • Bancor V3 is officially launched and it will add liquidity incentive to following pools,ETH, DAI, USDT, USDC, LINK, wBTC.
  • Add liquidity to $PDI,$MFG,$THALES.
  • Bancor V3 is officially live and will provide liquidity mining incentives for the following pools: ETH, DAI, USDT, USDC, LINK, wBTC.

Astroport

  • Trading volume on Astropot has increased while TVL plummeted drastically due to market volatility.
  • An announcement was made to address the $Luna $UST fiasco.

Uniswap

  • Enzyme now aggregates Uniswap V3
  • A governance vote was passed to deploy Uniswap on Celo
  • A research paper was published to explain that Uniswap V3 has deeper liquidity for ETH/BTC, ETH/USD than Binance and Coinbase.

Sushiswap

  • Sushiswap is now hiring for CEO
  • Suchi 2.0 proposal passed

1inch

  • Integrated Transak for fiat on-ramp
  • Kleros now becomes a member of 1inch DAO

— DeFi Closeup —

SpookySwap

Curve

Balancer

  • Balancer launched a series of initiatives to improve capital efficiency.

Part 2. Data Tracking

- Trading Volume and Market Share -

Overall trading volume increased drastically over the week, mainly due to the market volatility caused by UST depegging.

Trading volume on Astropost increased significantly while volume on Sushiswap dropped evidently.

 数据来源:Coingecko
数据来源:Coingecko

In terms of market share, Uniswap still maintains its TVL dominance among all DEXes.

数据来源:Coingecko
数据来源:Coingecko

Market share of aggregators on Ethereum mainnet increased slightly over the week.

数据来源:Dune Analytics
数据来源:Dune Analytics

-Whale Watch -

Whale trades increased significantly due to market volatility.

数据来源:Dune Analytics
数据来源:Dune Analytics

Part 3. Project Analysis

magicCRV

  • Curve and Abracadabra have developed a system called magicCRV (mCRV). This cauldron is based on a lending market where users provide CRV as collateral for 0% interest fee. In doing so they lock their CRV and delegate their voting power to Abracadabra.
  • New magicCRV cauldrons will focus on attracting CRV through preferential cauldron rates, which will act as a token sink for any CRV used in them.
  • Every time a user deposits CRV in our market, the token is locked for 4 years, and wrapped into mCRV. When a position needs to be closed users get back mCRV.
  • A mCRV <> CRV pool on Curve will allow the user to swap mCRV for their CRV tokens if they wish.
  • At the same time, we are now able to use the voting power of those locked CRV to improve MIM peg on the main MIM-3Pool as well as the mCRV <> CRV pool, resulting in more volume and hence fees for CRV token holders.
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