Decentralized Exchange News

2023-01-21 19:48:02 Crypto Analysts Warn Against Shorting DYDX Ahead of $200M Token Unlock

Perpetuals-focused decentralized exchange dYdx is set to unlock 150 million or about $200 million worth of its native token, DYDX, on Feb. 2, which could be a potential shorting opportunity for traders. The supply release, however, isn't necessarily bearish, some analysts said, cautioning against making short bets in the derivative market tied to the cryptocurrency. "While the upcoming token unlocks will give venture capitalists who invested in the project access to part of their token allocation, the market feels they will more likely hold instead of sell, continuing to show support for DYDX and signaling their commitment to the community that they are here for the long term," said Charles Storry, head of growth at Phuture, a crypto index platform.

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2023-01-20 17:38:03 PancakeSwap Plans v3 Upgrade in 2023 Roadmap

PancakeSwap is looking to assert its dominance on BNB Chain and continue its multichain expansion in 2023. Check out the DEX's new Roadmap. According to a newly updated Roadmap for 2023, PancakeSwap has ambitious plans beginning in the first quarter of the year, including a v3 Swap & Liquidity Upgrade, Smart Router Upgrade, Market Maker Integration, and continuing Multichain Expansion.PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain and available multichain on Ethereum and Aptos. It offers users various features such as Liquidity Pools (LPs), swapping, yield farming, Syrup Pools, an Automated Market Maker, Initial Farm Offerings (IFOs), an NFT profile system, and other tools. In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on BNB Chain.

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2023-01-19 18:01:11 1inch Network enters the hardware wallet business

Decentralized exchange aggregator 1inch Network has developed a hardware wallet that aims to provide a secure device for crypto users to hold their assets. The hardware wallet will be a physical device that claims to offer a secure way to store users' private keys offline. 1inch's hardware wallet is undergoing its final stages of development and testing before being released for sale later this year, 1inch said in a statement shared with The Block. Once launched, it will compete with larger players in the hardware wallet niche, such as Ledger and Trezor. The 1inch Foundation-supported hardware wallet will have a 2.7-inch touch display. The wallet will be a wireless device, will run on a rechargeable battery, and users can sign transactions wireless using QR codes or NFC technology.

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2023-01-18 17:24:02 SushiSwap’s Jared Grey Unveils “10x Market Share” Plan

SushiSwap’s new initiatives for “revitalizing SushiSwap” will focus on scalability and sustainability. Grey’s announcement further stated: “by executing our vision, we intend to 10x our market share in 2023.”. Positioning Sushi as a market-leading, community-centric DEX via “deep liquidity, optimal pricing, sustainable tokenomics,” and a user-friendly platform. Maintaining a decentralized organizational structure to promote product autonomy via best principles like “self-custody, equitable governance, & permissionless trading.”. Implementing newly optimized tokenomics and improving liquidity, sustainability, community ownership, and DAO treasury diversification.

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2023-01-17 18:10:31 Decentralized Exchange Trading Volumes Remain Lackluster in the New Year, Uniswap Leads the Way with Daily Swaps

According to statistics, decentralized exchange (dex) monthly trading volumes have dropped significantly since Jan. 2022. After a brief spike in volume in Nov. 2022, dex trade volumes have been lackluster for the past 44 days. As of Jan. 14, 2023, Uniswap version three (V3) has the highest trade volume during the past 24 hours at $1.9 billion and the second-highest total value locked (TVL) at $3.57 billion. Metrics show that Curve holds the second-largest trade volume on Saturday with $399 million in 24 hours and the highest TVL in terms of assets locked in dex platforms, with $4.19 billion locked.

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2023-01-14 17:49:23 DOJ Investigating Solana’s Stablecoin Dex Saber Labs

Amidst many growing concerns regarding projects over Solana network, a new issue reported related to the same. People with familiarity with the matter stated the United States Department of Justice (DOJ) proceeded with the investigation over Saber Labs creator brothers, Ian and Dylan Macalinao. The platform is a stablecoin exchange based on Solana. The investigations are said to be the result of a report published in August noting the brothers duo created an interlocking financial products ecosystem by using eleven pseudonymous identities. These products are said to make the crypto deposits reach to double and even triple the count simply by passing on the tokens. Behind Solana’s bull run of 2021, this instance acted as a key factor.

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2023-01-13 17:26:26 PancakeSwap Leads with Daily Active Users - DAU

According to data from Token Terminal, a platform that aggregates financial data on the leading blockchains and decentralized applications (dapps), PancakeSwap is currently topping the charts for Daily Active Users - DAU. The achievement reinforces the dominance of the leading Decentralized Exchange (DEX) on BNB Chain after recently achieving over 50% dominance of the Total Value Locked (TVL) on the Aptos blockchain. PancakeSwap has also been live on Ethereum since September 2022, having earlier announced its plans for a potential multichain expansion.PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.

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2023-01-12 18:33:39 Position Exchange Announces Launch of Decentralized Perpetual Trading Protocol

After a long period of unremitting efforts, Position Exchange is overwhelmingly honoured to announce that our Decentralized Perpetual Trading Protocol (DPTP) 2.0 - a 100% decentralized futures trading platform, has been officially released. On July 28, 2021, Position Exchange introduced itself to the world for the first time. A journey has gone by full of up-and-down events. Despite the crypto market volatility, the team has kept an optimistic outlook and, side by side built Position Exchange to become the ultimate crypto platform for all DeFi users. At the moment, Position Exchange has gained almost 720 thousand POSI holders, over $6.2 million Total Value Locked and numerous new features to be introduced.

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2023-01-11 17:46:56 PancakeSwap Attains Majority Share of TVL on Aptos Chain

PancakeSwap now accounts for more than 50% of the TVL on the growing Aptos chain, mirroring its status as the dominant DEX on BNB Chain. The chefs have done it again. PancakeSwap has broken the 50% barrier in terms of Total Value Locked (TVL) on the Aptos blockchain, meaning the majority of Decentralized Finance (DeFi) funds are on the platform.PancakeSwap is not only the dominant Decentralized Exchange (DEX) on both BNB Chain and Aptos, but it is head-and-shoulders above competing DeFi Decentralized Applications (Dapps) on those chains. The DEX marked its Aptos achievement with a celebratory Tweet.

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2023-01-10 17:56:42 Jumbo Raises $3.5M to Deliver Its Decentralized Exchange Ecosystem to the NEAR Protocol

Jumbo, a leading decentralized exchange built on the NEAR Protocol, is proud to announce the successful completion of a $3.5 million fundraising round led by Pantera and Huobi Incubator, with additional funding from DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital. The funds contributed to developing the user-friendly design and feature offerings that have positioned Jumbo as one of the largest DEXs on NEAR since its establishment in late 2021. Jumbo Exchange also employs HAPI, a novel security system that uses know-your-transaction (KYT) technology to ensure safety and security of users."Thanks to the trust of investors, Jumbo is delivering a user-friendly exchange experience that is rapidly developing, keeping pace with market demands and with the NEAR ecosystem," said Alex Dyatlenko, CEO of Jumbo.

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