Part 1. DEX Updates

— Key Takeaways —

💡 Pancakeswap supports multiple chains and initiates proposals to discuss whether to deploy to Aptos.

💡 Uniswap closed $165 million in Series B funding.

💡 SpookySwap Expert Trader V2 was launched.

💡 In terms of trading volume, the overall trading volume of the market in the past two weeks has doubled compared with the previous two weeks. The well-performed exchanges were Dystopia, Serum, Mango, and Biswap; the poorly-performed were Trader Joe, Velodrome, and Jupiter.

— DEX Roundup —

Pancakeswap

• Support multiple chains and has been deployed to the Ethereum main network.

• Initiated a proposal to discuss deployment to Aptos.

Quickswap

• Added online Gamehub function.

— Market Overview —

Uniswap

• Added token search box and popular token list functions.

• Passed the proposal to deploy Uniswap to the zkSync network.

• Uniswap closed Series B funding, worth $165 million.

Sushiswap

• Trident launched the stablecoin pool to support stablecoin transactions. This function has deployed on Polygon, Optimism, and Kava.

Curve

• Initiated a proposal to allow projects to add their own project tokens as rewards without DAO voting.

SpookySwap

• SpookySwap Expert Trader V2 was launched, new functions include

  • The expert trading page has been rebuilt and launched.

  • The watchlist appeared directly below the navigation bar.

  • An expert trader watchlist went live, tokens were searchable by whitelisted names or their addresses.

  • Market and limit orders were displayed in the same order history panel.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall trading volume of the market in the past two weeks has increased by four times compared with the previous two weeks. The exchanges that performed better month-on-month were Quipuswap, Sunswap, and Jupiter; the exchanges that performed poorly were Uniswap and Pancakeswap.

In terms of market share, the top three DEXs were: Uniswap, DODO, and Curve. Uniswap's market share decreased; Curve rose to third place and Sushiswap remain fifth place. Sunswap performed better, rising to the sixth. Zigzag is new to the top 20 and performed better on new exchanges.

The Aggregator share of DEX volume on Ethereum had a slight increase compared to the previous two weeks, from 14.6% to 19.94%.

Whale Watch

Compared with the previous two weeks, large-scale, medium-scale and small-scale transactions remained the same.

Part 3. Project Analysis

0x Protocol V4

• 0x Protocol is a trade aggregator that provides limit order trades and supports ETH, BSC, and Polygon chains.

• 0x Protocol aggregates liquidity to provide the best price. With so-called Smart Order Routing, 0x API obtains quotations from various DEXs, and calculates the proportion of completed orders to get the optimal price.

• Offering plug-and-play liquidity, 0x Protocol V4 allows customized on-chain liquidity pools to be embedded via standard interfaces and easy integration with other liquidity sources.

• 0x Protocol also decreased gas fee. According to the official introduction, compared with V3, 0x V4 reduces RFQ gas by nearly 70%, and the gas of outstanding orders is reduced by 10%.