Part 1. DEX Updates

— Key Takeaways —

💡 Uniswap launches mobile wallet.

💡 Balancer was affected by the attack on Euler - about $11.9 million in assets were sent to Euler.

💡 Gravity Finance has partnered with Quickswap to launch a perp DEX named QuickPerps.

💡 1inch's proposal to launch an NFT aggregator was approved.

💡 In terms of trading volume, the overall trading volume of the market in the past two weeks has doubled compared with the previous two weeks, a huge increase, which is directly related to the depegging of USDC. From a month-on-month perspective, the trading volume of most exchanges increased from the previous two weeks. Woombat, Curve, and Uniswap performed very well, with huge increases in trading volume; exchanges with poor performance included Apex Pro, Canto DEX.

— DEX Roundup —

Balancer

• Idle Boosted Pool launched.

• Launched a new pool wstETH/WETH on Polygon.

• Affected by the attack on Euler, approximately $11.9 million in assets from the Balancer bbeUSD pool was sent to Euler.

Curve

• Angle Protocol adds LP tokens of Curve 3CRV, LUSD-3CRV, and 2 Pools to the collateral. Currently, LPs can leverage income through Angle Protocol, and the leverage can reach up to 10x.

• Affected by the USDC depegging event, Curve’s daily trading volume soared to nearly $8 billion.

QuickSwap

• The GHST/USDC is the trading pair with the highest trading volume of QuickSwap V2 in the last half month.

• Gravity Finance has partnered with Quickswap to launch a perp DEX named QuickPerps.

— Market Overview —

SpookySwap

• Cooperated with Hecter Network to launch $FTM and SaaS bonding product.

Trader Joe

• Token holders on Arbitrum reached 100,000.

• Trader Joe has launched on BNB Chain.

Uniswap

• On March 11, the daily trading volume reached an all-time high of $11.8 billion.

• Uniswap launched its own mobile wallet.

• Entered the Web3 social platform Lenster.

• Partner with CoinTracker and TokenTax to help US users reduce taxes by up to 20%.

Sushiswap

• Announced that it will be deployed to the Base chain.

• Initiated a proposal to discuss the establishment of a Swiss foundation entity.

1inch

• The proposal is voted and 1inch will develop an NFT aggregator.

• The proposal was passed and 1inch will increase the number of Fusion's Resolver whitelists from 5 to 10.

• On March 11, the transaction volume of 1inch reached 4 billion dollars.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall trading volume of the market in the past two weeks has doubled compared with the previous two weeks, a huge increase, which is directly related to the depegging of USDC. From a month-on-month perspective, the trading volume of most exchanges increased from the previous two weeks. Woombat, Curve, and Uniswap performed very well, with huge increases in trading volume; exchanges with poor performance included Apex Pro, Canto DEX.

In terms of market share, the top three DEXs were: Uniswap, Pancakeswap, and DODO. Uniswap's market share did not change much. Pancakeswap rose to second place; DODO rose to third place; Curve fell to fourth place, and Balancer remained fifth. Other exchanges that performed better include Canto DEX, Trader Joe, etc.

Whale Watch

Compared with the last two weeks, the proportion of large-scale transactions and medium-scale transactions on ETH has increased significantly in the past two weeks, while the proportion of small-scale transactions has decreased. This phenomenon is directly related to the depegging of USDC. It can be seen that the depegging of USDC has a great impact on whales It is also an unexpected event.

Part 3. Project Analysis

Gearbox V3

• Gearbox Protocol is a composable leverage protocol, essentially a lending protocol where users can deposit assets to earn passive income.

• Gearbox's Main Bluechip pool supports the income strategies of mainstream protocols such as Lido and Curve.

• The core of Gearbox V3 is to introduce a new pool design, Alpha Pool. Alpha Pool supports access to new high-yield protocols, users can obtain additional income by re-stake the dToken of the Main Bluechip pool. Users will also bear additional risks.

• Gearbox V3 also proposes the concept of the minimum available tokenomics, which controls the distribution of profits through game theory.