一. DEX Updates

— Key Takeaways —

💡 Introducing DODO X, a cross-chain aggregator that allows users to trade, perform cross-chain swaps, and place limit orders.

💡 Curve stable pools (alETH/msETH/pETH) suffered a reentrancy attack, resulting in a maximum TVL drop of 51%.

💡 Balancer launched on the AVAX chain, with the intention of opening its LST market on AVAX.

💡 Trader Joe is live on the mainnet, achieving a TVL of $1 million within 2 days.

💡 DODO, Sushiswap, and Balancer went live on the Base chain.

💡 In terms of trading volume, the overall market volume for the past two weeks decreased by 7.18% compared to the previous two weeks. Looking at the week-over-week performance, the trading volume of exchanges varied. Sushiswap and Maverick showed strong performance with significant increases in trading volume, while Uniswap and Trader Joe performed poorly.

— DEX Roundup —

DODO

• Introduced DODO X, a cross-chain aggregator that allows users to trade, perform cross-chain swaps, and place limit orders. It has been deployed on the Base Mainnet and Scroll Alpha testnet, with upcoming deployments on the Scroll Mainnet and Linea Mainnet.

• DODO went live on the Base chain.

• Hosted an AMA session in the TG group, discussing topics such as hacking attacks, V3, and PMM.

• Collaborated with Keystone Wallet to release Keystone Pro 3 featuring DODO designs.

Balancer

• Balancer went live on the Base chain and AVAX chain, with the aim of opening its LST market on AVA

• X.

Paraswap

• Total trading volume reached $50 billion.

Curve

• Due to vulnerabilities in certain versions of the underlying Vyper language, Curve stable pools (alETH/msETH/pETH) were subjected to a reentrancy attack, leading to a maximum 51% TVL drop.

• Curve issued a statement, committing to return 90% of the funds by August 7th without pursuing legal action. Most of the stolen funds will be returned.

• crvUSD supply reached 100 million, but due to the hack incident, $crvUSD suffered a maximum loss of 0.35%. This incident was similar to SVB/USDC, and stability has been restored.

• Concerns were raised over the founder's significant $CRV position on lending protocols, causing market panic amid worries that the exponential growth of Frax Finance's interest rate index could trigger a cascade of liquidations on protocols like AAVE.

— Market Overview —

Trader Joe

• Trader Joe launched on the mainnet, achieving a TVL of $1 million within 2 days.

• Introduced on-chain limit orders: Place Order and Pool Order, enabling grid trading.

• Auto-Pool went live, offering automated liquidity management tools for LPs.

• PIP payment layer support for Joe's usage: allowing sending and receiving, tipping, and paying invoices with $JOE.

• Collaborated with lending protocol @stellaxyz_ on the Arb chain.

• Reduced fees for trading pairs $USDC.e / $USDC, $USDT / $USDC.e, $USDT / $USDC on ARB chain from 0.02% to 0.005%, becoming the cheapest DEX for stablecoins on ARB, with USDC.e/USDC pool APR rising to 30.45%.

Uniswap

• Uniswap wallet added the feature of refreshing balance with pull-down gesture.

Sushiswap

• Launched on the Core chain, becoming the largest DEX on Core.

• Announced collaboration with @Aquarius Loan to promote lending on the Core chain.

• Went live on the Base chain, allowing cross-chain assets through @squidrouter.

• Introduced 'Permissionless Incentive Creation', enabling permissionless incentivization of pools.

• Achieved Interchain Sushi on @squidrouter, $tSUSHI, currently supported on 10 chains including ETH, BSC, Polygon, etc.

Pancakeswap

• Mainnet trading volume crossed $750 million.

• Went live on ZK mainnet, with accompanying cross-chain videos and tutorials. Achieved $10 million in trading volume after 4 days and $20 million after 7 days.

1inch

• Released proposal: Approving $1.98 million for sponsoring 8 activities in the third and fourth quarters.

• Collaborated with Grand X, a Korean cryptocurrency wallet.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall market volume for the past two weeks decreased by 7.18% compared to the previous two weeks. When compared week-over-week, the trading volumes of exchanges varied. Sushiswap and Maverick showed impressive performance with significant increases in trading volume, while Uniswap and Trader Joe performed less well.

In terms of market share, the top three DEXs are Uniswap, Curve, and Pancakeswap. The top five remain unchanged.

Whale Analysis

Compared to the previous two weeks, there has been a significant increase in both large and medium-sized transactions on ETH in the past two weeks, possibly related to the Curve attack incident.

Part 3. Project Analysis

FLock.io

FLock.io integrates on-chain decentralized machine learning, providing a secure and efficient solution for fine-tuning and inferring AI models.

• Leveraging the combined strengths of blockchain technology and artificial intelligence, it offers a powerful environment for organizations or individuals dealing with large datasets.

• User authorization and control: Users have direct ownership of their data, can define specific training processes, and control access without the involvement of third parties.

• Transparency and security: Utilizing blockchain and smart contracts, all transactions and processes within the platform are transparent, secure, and verifiable.

• Scalable and robust environment: The decentralized nature allows for scalability and resilience, meeting the demands of training extensive datasets.

• Use cases: In the process of intent execution, users declare objectives and constraints. Third parties seek the most suitable computational path for them, optimizing user experiences. FLock has built an on-chain ML network that allows community-made models to utilize user data to offer personalized services without needing to provide data to large tech companies. Through FLock, users can execute intent without disclosing personal information, providing a solution against MEV.