Part 1. DEX Updates
— Key Takeaways —
💡 DODO V3 launches Beta testing. Through the Leveraged AMM(LMM) mechanism, expert LPs can use leveraged funds for market making, improving capital efficiency.
💡 Multiple DEXs support MEV Blocker, including DODO, Balancer, ParaSwap, and more.
💡 Trader Joe Liquidity Book V2.1 upgrade, including auto-pools, sJOE fee dividends, gas optimization, and more.
💡 Uniswap is actively promoting its mobile wallet and introducing various new features.
💡 In terms of trading volume, the overall market trading volume has decreased by about 25% in the past two weeks compared to the previous two weeks. Most exchanges have seen a decline in trading volume compared to the previous two weeks. quipuswap, PancakeSwap, and Openocean have performed well, with a significant increase in trading volume. Exchanges with poorer performance include DODO and SushiSwap.
— DEX Roundup —
DODO
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Supports MEV Blocker.
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DODO V3 launches Beta testing, with new features in V3 including:
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Leveraged Market Maker (LMM): Professional LPs are responsible for market-making and liquidity management, while retail LPs inject capital to earn interest, resulting in more efficient liquidity management. Professional LPs will inject a sum of capital as priority capital, which will be affected first in the event of losses, while the capital injected by retail LPs is subordinate capital. In this way, DODO V3 establishes a leveraged tool for professional LPs, allowing them to use more capital for market-making with leverage, while retail LPs can earn higher returns and improve capital efficiency for the entire system.
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Mixed Asset Pools: Increasing capital utilization, each professional LP has an independent liquidity pool and can customize fees, prices, and token amounts. Through DODO's PMM market-making algorithm, liquidity management is performed efficiently.
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Low Gas Fees: Gas fees are lower when adjusting parameters such as price, reducing transaction costs.
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Designed for All Types of Professional LPs: Whether institutional market makers or individual developers researching in their spare time, as long as they possess strong technical capabilities, they can profit from market-making through DODO V3.
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Balancer
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Supports MEV Blocker.
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New boosted pool launched: Boosted Morpho-Aave USD Pool.
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New LSD asset trading pair introduced, vETH-ETH.
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Upcoming launch of the valory project, funded by the Balancer 5th Grant. Valory enables dynamic adjustments to Balancer pools through off-chain computation.
ParaSwap
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Supports MEV Blocker.
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Supports migration from sePSP1 to sePSP2.
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Verse DEX, SoliSnek, and UrDEX integrated with ParaSwap.
QuickSwap
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Prediction markets removed due to legal reasons.
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Partnership established with Entangle Protocol; QuickSwap will integrate its synthetic asset pools to enhance capital efficiency.
— Market Overview —
SpookySwap
- Partnership established with Entangle Protocol; SpookySwap will integrate its synthetic asset pools.
Trader Joe
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Liquidity Book V2.1 upgrade, including:
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Auto-Pool.
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Fee dividends for sJOE holders on the AVAX chain.
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Launch sJOE on BNB Chain and Arbitrum.
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Gas optimization, reducing costs by 30%-40%.
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Limit order.
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Promoting Auto-Pools, which offer automated liquidity management solutions for the Liquidity Book. Users can access Auto-Pools by depositing tokens into the automated pool, which will then execute strategies for liquidity allocation within the Liquidity Book pool. This lowers the barrier for users to adjust market-making prices.
Uniswap
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Uniswap is currently promoting its wallet and updating it with new features:
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Support for real-time push notifications.
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Fiat transactions supported by Moonpay.
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Functionality to create wallet icons.
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SushiSwap
- Community discussion on whether to deploy SushiSwap on Polygon zkEVM.
Curve
- $ARB grant allocated to a veCRV-controlled contract address; veCRV holders will decide the fund allocation.
1inch
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Deblock partnered with 1inch.
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DZAP integrated with 1inch.
Part 2. Data Tracking
Trading Volume and Market Share Analysis
In terms of trading volume, the overall market trading volume has decreased by about 25% in the past two weeks compared to the previous two weeks. Most exchanges have seen a decline in trading volume compared to the previous two weeks. quipuswap, PancakeSwap, and Openocean have performed well, with a significant increase in trading volume. Exchanges with poorer performance include DODO and SushiSwap.
In terms of market share, the top three DEXs are Uniswap, PancakeSwap, and Curve, Uniswap has seen a slight decrease in market share; PancakeSwap has risen to second place; Curve has dropped to third place; DODO maintains fourth place, and Trader Joe remains in fifth place. Other well-performing exchanges include Balancer and Apex-pro.
Whale Watch
Compared to the previous two weeks, there has been little change in the proportion of large-scale, medium-scale, and small-scale transactions on the Ethereum network in the past two weeks.
Part 3. Project Analysis
CavalRe
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CavalRe aims to provide a decentralized capital market, with Multiswap being its first product, currently in the testing phase.
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Unlike traditional AMM algorithms, the features of Multiswap include:
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Unified liquidity: Multiswap provides a centralized liquidity pool for each token, allowing traders and liquidity providers to achieve better price execution, lower slippage, and higher profitability.
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Multi-token swaps: The platform allows users to simultaneously swap multiple tokens in a single transaction, simplifying the trading process, reducing transaction fees, and increasing efficiency for traders and portfolio managers.
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Fair pricing model: Multiswap adopts a non-subsidized pricing model, optimizing slippage to ensure that liquidity providers receive fair returns for their contributions to the liquidity pool.
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Innovative fee structure: Multiswap's unique unified liquidity pool enables a token-based fee structure, simplifying profitability assessment for liquidity providers and offering them more opportunities for profit.
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