Part 1. DEX Updates

— Key Takeaways —

💡 DODO becomes one of the top five DEXs on Manta in terms of TVL.

💡 Uniswap Routers consumed 9001 ETH in the past 30 days.

💡 Llamalend is about to launch: the crvUSD lending market.

💡 PancakeSwap integrates LINK oracle quotes on Arbitrum.

💡 Balancer launches ezETH/WETH liquidity pool, @RenzoProtocol is the first LRT protocol to adopt Balancer technology as its liquidity host.

💡 Project Interpretation - Jupiter: A DEX based on the Solana ecosystem.

💡 In terms of trading volume, the market's overall volume fell by 30.2% in the past two weeks, indicating a subdued performance. This reflects a cooling trend in the overall on-chain trading market. Most DEXs saw a significant decrease in volume compared to the previous week, with Camelot, which performed well last week, experiencing a particularly notable drop. Following the decline in popularity of Troll and Smilly, Uniswap's volume also fell by over 40%.

— DEX Roundup —

DODO

• AMA with Bitget wallet.

• Integrates @symbiosis_fi into DODO's cross-chain service.

• Education: What is MEV? MEV (Maximum Extractable Value) extracts value from users in a first-come-first-served manner, causing concern in the Ethereum ecosystem due to block congestion from Priority Gas Auctions (PGA) and potential vulnerabilities between validators and block producers.

• Integration: EIP-6963, smooth wallet switching, enhancing user experience.

• Data: DODO becomes one of the top five DEXs on Manta in terms of TVL.

• Event: The 31st DODO repurchase and distribution completed, repurchasing 255,695 $DODO tokens, with the remaining 14,563.5 USDT transferred to the community treasury.

• Recruitment: Hiring Korean ambassadors.

Uniswap

• Data: Uniswap Routers consumed 9001 ETH in the past 30 days.

• Regular outreach: Wallets, UniswapX, Permit 2.

• Uniswap Web and mobile app interface for directly purchasing cryptocurrencies like ETH with fiat currency.

Curve

• Borrowing rates for crvUSD on the mainnet dropped to a low due to ARB incentives flooding into Arbitrum.

• Llamalend is about to launch the crvUSD lending market:

  • One-way isolated market - ready;

  • Two-way isolated market (collateral can be borrowed) — almost ready.

• Curve founder Michael Egorov's CRV debt position faces liquidation risk again, with CRV price dropping to 0.36U, and his 54 million U debt across 6 lending platforms set for liquidation.

PancakeSwap

• Integrates LINK oracle quotes on Arbitrum.

Balancer

• ezETH/WETH liquidity pool launched on Balancer, with @RenzoProtocol being the first LRT protocol to adopt Balancer technology as its liquidity host.

• Data: ve8020 increased the LP liquidity of $ALCX by over 10 million dollars, generating 300,000 dollars in Swap fees, greatly enhancing incentive efficiency.

— Market Overview —

Trader Joe

• Trader JOE hints at a possible mobile launch.

Sushiswap

• Exploring SUSHI-supported L2.

• Sushi Bar: Stake $SUSHI, get $xSUSHI, dividends of 0.05% fee on Sushi v2 AMM (standard trading fee is 0.3%).

— Aggregators —

Matcha

• Outreach: When U.S. user IPs are restricted, consider using 1inch's aggregator alternative - Matcha.

Part 2. Data Tracking

Trading Volume & Market Share

In terms of trading volume, the market's overall volume fell by 30.2% in the past two weeks, indicating a subdued performance. This reflects a cooling trend in the overall on-chain trading market. Most DEXs saw a significant decrease in volume compared to the previous week, with Camelot, which performed well last week, experiencing a particularly notable drop. Following the decline in popularity of Troll and Smilly, Uniswap's volume also fell by over 40%.

In terms of market share, Uniswap and PancakeSwap continue to hold the first and second positions, respectively. Astroport maintains third place, leading on Sei, with Raydium and Orca in fourth and fifth. Curve and previously strong performer Thorchain are in seventh and eighth, respectively.

III. Project Interpretation

Jupiter: Creating a World-Class Exchange Experience.

Jupiter: A DEX based on the Solana ecosystem. Its goal is to help users provide a world-class experience with as little effort as possible. Tools include Swap, Payment API, limit orders, DCA. Jupiter's growth in 2023 has been remarkable, with monthly trading volume increasing approximately tenfold, from $650 million in January to $7.1 billion in December. After announcing the JUP token, November saw a record-breaking monthly trading volume of over $16 billion.

• Has become an important DeFi aggregator on Solana;

• Community airdrop on January 31, 2024, with tokens directly listed on Binance and OKX;

• It is claimed that those who had at least $10 worth of tokens on the platform or made at least 10 transactions on it before March 2022 will also receive up to 500 additional tokens in the JUP airdrop.