Decentralized Exchange News

2023-01-31 20:05:24 Uniswap on BNB Chain: Wormhole wins bridge selection vote

Wormhole has won a temperature check vote on the Uniswap DAO as the preferred crypto bridge provider for the proposed deployment of Uniswap v3 on the BNB Chain, according to the details of an off-chain vote concluded on Tuesday. The vote spurred a spirited debate about the correct approach to multi-chain protocol design. Wormhole was among a list of four crypto bridge protocols in the vote. The others were LayerZero, Celer, and deBridge. Wormhole secured 62% of the votes to win the polls, according to data from Snapshot. Wormhole will now be included in the final governance proposal for the deployment of Uniswap v3 on the BNB Chain. The Uniswap community had recently finished a preliminary vote to deploy its decentralized exchange protocol on the BNB Chain.

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2023-01-30 21:49:00 Uniswap Team Is The Champion Of Web3 Dev Gaming Competition 0xmonaco: Battle Of Titans

The opening of MatchBox Arena, an esports event expressly created for developer engagement, has been announced by MatchBoxDAO, a collection of developers, artists, and designers constructing on-chain game infrastructure using StarkNet. Teams from Web3 firms like Ledger, Polygon, Uniswap, NEAR, Yield Guild Games, Chainlink, OKX, and Bybit participated in the tournament, which was organized by Starkware-based on-chain gaming ecosystem MatchboxDAO and aired on Twitch. To succeed in 0xMonaco and similar games in the future, players will need strong technical aptitude, originality, and agility. Through video simulations that show the exact code logic used throughout the round.

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2023-01-29 21:19:01 Uniswap dev team wins web3 gaming Battle of Titans competition

Uniswap won the web3 dev gaming competition, 0xMonaco: Battle of Titans. The event, run by Starkware-based on-chain gaming ecosystem MatchboxDAO and streamed on Twitch, featured teams from web3 companies including Ledger, Polygon, Uniswap, NEAR, Yield Guild Games, Chainlink, OKX and Bybit.Uniswap, Polygon and security auditors OtterSec made it to the finals. The three competed in a hotly contested final with Uniswap emerging as the eventual winner. Developers competed in a Mario Kart-style racing game rewarding technical abilities where each team’s cars are a smart contract. MatchboxDAO described it as a web3 version of "chess and poker.". While there is a trend towards web3 games only having assets on-chain rather than the gameplay itself, 0xMonaco is a fully on-chain game.

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2023-01-28 19:32:33 Decentralized Exchange Vela’s DXP Token Surges Ahead of Beta Release on Arbitrum

Arbitrum-based decentralized trading platform (DEX) Vela Exchange’s DXP utility token has mounted a powerful rally as the project prepares to release its much-anticipated beta version next week. Vela Exchange was originally known as Dexpools on Ethereum before moving development to Arbitrum, an Ethereum layer 2 blockchain. The platform allows for spot and perpetual futures trading, as well as peer-to-peer over-the-counter (OTC) trading where traders can avoid slippage and frontrunning. The platform’s beta version opens for registered testers with early access on Jan. 31, and will be available for the broader public starting Feb. 7, according to the project’s website.

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2023-01-27 20:41:03 DeFi Lender Aave Launches On Ethereum Network Version 3

Aave, a decentralized lending and borrowing system, has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal. Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days. The Aave V3 upgrade will put a special emphasis on reducing user risk and enhancing capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are contracts for derivative products that let consumers keep an asset’s liquidity while staking it in exchange for a payout. According to DeFiLlama, the Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.

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2023-01-26 19:32:37 Sushiswap to launch a perp dex on Sei Network, 'Head Chef' says

Decentralized exchange Sushiswap is launching a decentralized perpetual futures exchange on the Sei Network, “Head Chef” Jared Grey said at a conference in Miami. Grey said at Quantum Miami, adding that a contract had been signed earlier in the week. Sei Network, a new Layer 1 blockchain that specializes in decentralized trading applications, is “focused on having an order book and matching engine in their consensus layer, and they want to focus solely on that vertical, and I think that makes a lot of sense," Grey said. The move will take Sushiswap into non-Ethereum-based ecosystems and a different sector of decentralized finance. The decentralized exchange passed a governance proposal earlier this week.

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2023-01-25 22:02:26 DYdX pushes back $156 million of token unlocks for investors to December from February

Decentralized exchange dYdX delayed its token unlocks for investors to Dec. 1 from Feb. 3, according to a note sent out to investors obtained by The Block. The exchange was set to release 150 million tokens ($282 million) to investors, community members and the project’s treasury next month.Under the new schedule, the 83 million tokens — 30% of the 277 million tokens destined for investors in total — will be unlocked On Dec. 1, according to the note. After that happens, 40% of the total tokens will unlock monthly over the following six months, then 20% over the following year and 10% the year after that. DYdX is currently based on StarkEx, a zero-knowledge proof-powered layer running on top of Ethereum.

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2023-01-24 20:45:59 Early vote shows strong support for deploying Uniswap on BNB Chain

A proposal to deploy decentralized exchange Uniswap v3 on the BNB Chain has passed an early temperature check and will now be put up for a full governance vote on the Uniswap DAO. Data from Snapshot shows 80% of the 6,495 wallets that participated in the preliminary polls. Following the vote, the proposal will now move to a full governance vote. The proposal, put up 0xPlasma Labs, seeks to deploy Uniswap v3 on BNB Chain, with Celer selected as the preferred bridge protocol. Bridges enable users to send crypto tokens across different blockchain networks. 0xPlasma Labs stated that the Uniswap community stands to gain significant benefits from the move. BNB Chain currently ranks as the third largest blockchain network for DeFi in terms of total value locked, according to DeFiLlama.

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2023-01-23 20:36:27 Sushi DAO implements proposal to direct all trading fees to treasury

Sushi DAO is set to implement a governance action that will see all fees generated by the SushiSwap decentralized exchange diverted to the DAO’s treasury, following the results of its latest vote on Monday. unlike the previous one which was a tight contest. Sushi’s new “Kanpai” ratio now goes into effect following the vote. Kanpai is SushiSwap’s fee-diversion protocol. It enables the DAO to determine how much of the exchange’s trading fees can be sent to the treasury. The default Kanpai ratio is 10% but this vote has now raised the figure to 100%. the Kanpai ratio should revert to its original form on Dec. 19, 2023, unless a new tokenomics model is adopted before then. Sushi token holders will not receive rewards from trading fees during this period.

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2023-01-22 17:30:44 Uniswap Detected Bug Doesn’t Refund Unspent ETH In Partial Swaps

A developer found a bug in the Uniswap core contract SwapRouter, and the unspent ETH in the transaction will remain in the SwapRouter contract and will not be refunded. The developer said the vulnerability was discovered in December last year but was rejected by Uniswap security. The developer said the vulnerability was discovered but was rejected by Uniswap security researchers after submitting a bug report. The bug allows users to lose funds while interacting with the contract in the standard way. Additionally, SwapRouter allows anyone to withdraw ETH from the contract; it could be an MEV bot or anyone calling for refunds after the transaction. This bug was established due to Uniswap’s decision to introduce the Universal Router, which combines NFTs and ERC-20 tokens into a single swap router.

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