Decentralized Exchange News

2022-09-06 22:15:55 BLOCKSTREAM, SEVENLABS PARTNER TO LAUNCH DECENTRALIZED BITCOIN EXCHANGE

Blockstream and Sevenlabs, bitcoin infrastructure service providers, have partnered with Poseidon Group to launch the first decentralized security token exchange for Bitcoin in Switzerland, per a press release sent to Bitcoin Magazine. The exchange, XDEX, will support assets within the Bitcoin ecosystem and allow peer-to-peer trading, effectively removing intermediaries from the transaction. “The use of P2P infrastructure by current financial markets is inevitable,” said Lars Schlichting, XDEX general counsel.

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2022-09-05 20:47:44 Uniswap Labs ‘eagerly awaiting’ Ethereum ‘merge,’ signals support for proof-of-stake chain

Uniswap Labs is eagerly awaiting the merge. It’s an important step in scaling Web3 and immediately reduces the environmental impact of Ethereum,” a Uniswap Labs spokesperson tells Fortune. “During this transition, users should know that the Uniswap protocol and web app will continue to work seamlessly.”Being the largest decentralized exchange on Ethereum, the Uniswap protocol is noncustodial, permissionless, and self-executing through the use of smart contracts—or collections of code that run on a blockchain.

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2022-09-04 22:32:02 Kyber Network offers bounty following $265K hack of decentralized exchange

KyberSwap, the decentralized exchange built on liquidity protocol Kyber Network, has offered a hacker 15% of the funds from a $265,000 exploit as a bug bounty. In a Thursday blog post, Kyber Network said a hacker had used a frontend exploit to pilfer roughly $265,000 worth of user funds from KyberSwap. The protocol said it will compensate all users for any missing funds related to the exploit, and directly addressed the hacker to give them an opportunity to return the funds in exchange for “a conversation with our team” and 15% of what was taken — roughly $40,000.

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2022-09-02 20:52:01 dYdX ends contentious promo claiming ‘overwhelming demand’

Decentralized crypto derivatives exchange dYdX says it has ended its short-lived and contentious $25 first deposit bonus promo amid a wave of backlash over its facial recognition requirements for new users. The exchange, however, simply cited “overwhelming demand” as the reason for its short-lived promotional campaign, which ended on Thursday “effective immediately.”

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2022-09-02 13:52:11 Decentralized Exchange THORSwap to Support Cross-Chain Swaps for Over 4,300 Ethereum-Based Tokens

The developers behind THORChain-based decentralized exchange (DEX) THORSwap this week said the protocol had added more than 4,300 Ethereum-based tokens to its cross-chain liquidity aggregator – a move that allows users to swap them into other supported blockchains, such as Bitcoin, Cosmos, Dogecoin and THORChain. Liquidity aggregators rely on smart contracts to gather token prices across a number of decentralized exchanges (DEX) on other blockchain networks. This allows users to get better tokens prices on their trades with low slippage. Slippage is the difference between the expected price of a trade and the price that's actually achieved, while gas is the blockchain transaction fee.

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2022-08-31 22:23:44 Decentralized Exchange Hashflow Onboards Global Market Maker Wintermute

DeFi trading platform Hashflow has announced the addition of Wintermute, a leading global algorithmic market maker, to the Hashflow ecosystem. With cumulative trading volumes of more than $1.9 trillion to its name, Wintermute adds significant liquidity and market efficiency to Hashflow. Coming on the heels of a $25 million funding round bringing the company’s valuation to $400 million, the addition of Wintermute builds on Hashflow’s ever-growing market maker ecosystem expansion.

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2022-08-30 21:45:30 DEX accidentally hits kill switch on mainnet, locking 660,000 USDC inside

A decentralized cryptocurrency (D options exchange cut its own life short after unwittingly executing a command that closed its mainnet program and made it irrecoverable. OptiFi informed users that its platform had come to an unceremonious end after its development team tried to update its code on Monday. According to the decentralized exchange, the program incident also locked up some 660,000 USD Coin (USDC) on-chain.

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2022-08-29 22:15:09 1inch plugs into KuCoin Wallet to improve token swaps

Cryptocurrency exchange KuCoin will introduce native token swap functionality to its in-house wallet after integrating decentralized finance (DeFi) market maker 1inch’s application programming interface. 1inch’s Pathfinder algorithm will increase the functionality of KuCoin Wallet, the exchange’s recently launched decentralized wallet platform, which features cross-chain trading, and DeFi and nonfungible token (NFT) support.

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2022-08-28 22:57:37 Shiba Inu DEX ShibaSwap Trading Volume Crashes 89% In Year

HLShiba Inu’s (CRYPTO: SHIB) decentralized exchange (DEX), ShibaSwap, has seen its trading volume decline by over $1.5 billion since it first launched last year. Data from Dune Analytics shows ShibaSwap’s monthly trading volume for July was 311 million, an 80% decline from the $1.85.billion it recorded in July 2021. Trading volume on the DEX reached a peak of $4.2 billion in October 2021 when SHIB’s price was trading at an all-time high of $0.00008616. The meme coin is currently trading at $0.00001317, down 84% over the last 10 months.

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2022-08-27 18:17:01 Uniswap in Talks with NFT Lending Protocols for NFT Financialization

Decentralized crypto exchange Uniswap has been in the news a lot this month. Its Head of NFT Product, Scott Lewis, revealed that they are in talks with seven NFT lending protocols to build NFT financialization. Basically, someone with the underlying NFTs can not only profit from the increasing value of these NFTs, but they can also provide liquidity on a decentralized exchange like Uniswap. The next step will be to “financialize” NFT assets using the DeFi protocols mentioned by Lewis. Uniswap is working to tackle two major issues in the space: liquidity fragmentation and information asymmetry.

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