Part 1. DEX Updates

— Key Takeaways —

💡 Paraswap launched the limit order function and an invitation event, had been deployed to Optimism.

💡 Quickswap initiated a proposal to discuss whether to deploy to Dogechain.

💡 SpiritSwap V2 has been launched with an updated user interface and protocol.

💡 Sushiswap was deployed to Arbitrum Nova.

💡 The overall trading volume of the market in the past two weeks has dropped by about 50%. The better-performing exchanges were Uniswap, Pancakeswap, Balancer, and Sushiswap; the lower-performing exchanges were Curve, Spookyswap, and Raydium.

— DEX Roundup —

Paraswap

• Paraswap launched the limit order function, and the limit order transaction of tokens and NFTs are supported. It claims that gas can be saved by 8%. The currently supported chains include ETH, Polygon, BSC, Fantom, AVAX, and Arbitrum.
• Paraswap launched the invitation event. Users who share the invitation link can get 25% of the invitee's transaction positive slippage.
• Paraswap was deployed to Optimism.

PancakeSwap

• Binance APP did affiliate marketing for Pancake. When searching the crypto on Binance APP, Binance APP will direct users to trade on PancakeSwap if Pancake has such a pair.
• PancakeSwap launched the pottery tickets beta version, in which users can deposit $CAKE to get Pottery tickets.

QuickSwap

• $QUICK token was listed on a CEX, AscendEX.
• Quickswap launched the proposal on August 16, hoping the community would quickly discuss whether to deploy Quickswap to Dogechain. The discussion will last for 48 hours. Voting will begin 12 hours after the discussion and last 36 hours.

SpriritSwap

• SpiritSwap V2 has been launched. LPs must manually migrate their liquidity, and the migration ratio does not exceed 10% during the test period.
• User interface and protocols have been upgraded on V2, which has customized transaction rates and dropped protocol fees.

BeethovenX

• The Beethoven V2 version has been launched and is in testing. More details have not been disclosed.

— Market Overview —

TraderJoe

• The new AMM Alpha version will go live on August 22.

Uniswap

• Updated Uniswap's transaction routing API.
• Updated the swap widget.
• @NoahZinsmeister has transferred the wildly popular Github repo, web3-react, to Uniswap Labs.

Sushiswap

• Sushiswap was deployed to Arbitrum Nova.
• Sushiswap added Reddit tokens $MOON and $BRICK tokens to Arbitrum Nova.

1inch

• 1inch was deployed to Klaytn Network
• 1inch was integrated with Aurora, allowing users to trade with DEXs on Aurora including DODO.
• KuCoin Wallet integrated with 1inch API.

Curve

• On August 10, the curve.fi DNS domain was hijacked. with $450,000 stolen funds. Binance subsequently froze/recovered the majority of stolen funds from this DNS attack. The investigation found that hackers poisoned the DNS cache and suggested migrating from DNS to ENS.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall market trading volume in the past two weeks dropped by about 50% compared with the previous two weeks. The better-performing exchanges were Uniswap, Pancakeswap, Balancer, and Sushiswap; the lower-performing exchanges were Curve, Spookyswap, and Raydium.

In terms of market share, the top three DEXs were: Uniswap, Pancakeswap, and DODO. Uniswap's market share continued to expand. Pancakeswap rose sharply, and DODO maintained third place with better performance. Balancer rose to fourth place, surpassing Curve. Curve performed poorly due to the DNS attack; Spookyswap and Raydium showed even worse performance.

The Aggregator share of DEX volume on Ethereum had a slightly increasing compared to the previous two weeks, from 15.23% to 18.63%.

Whale Watch

Compared with the previous two weeks, large-scale transactions remained the same, while medium-scale transactions increased and small-scale transactions decreased this week.

Part 3. Project Analysis

GMX

• GMX is a decentralized spot and perpetual exchange with shared liquidity, focusing on the trades of perpetual futures.
• Users can purchase $GLP by any assets backed by $GLP before starting market making. And users can provide single-side staking liquidity without impermanent loss.
• GMX brings low margin slippage supported by Chainlink price feeds and prevents huge volatility in liquidity.