一. DEX Updates

— Key Takeaways —

💡 Uniswap announced their vision for Uniswap v4.

💡 Hexens conducted a security audit of QuickPerps and found 26 issues.

💡 1inch adopted [1IP-28] to stop collecting profits generated by positive slippage in user transactions.

💡 $JOE was one of the first assets to adopt OFT and be integrated directly with StargateFinance.

💡 In terms of trading volume, the overall trading volume of the market in the past two weeks increased by 28.54% compared with the previous two weeks. From the sequential point of view, the trading volume of most exchanges increased significantly compared with the previous two weeks. iziswap performed well and the trading volume increased significantly. Among the poorer performers were Syncswap and pulse x

— DEX Roundup —

DODO

• Integrated to SenderWallet、AirSwap.

Balancer

• Increased rewards in Arbitrum pool in collaboration with Lido and AAVE.

• Data disclosure to promote 8020 model.

• Preheat the deployment to Polygon zkEVM.

Paraswap

• FlashFlow.org taps into Paraswap and uses paraswap quotes on the polygon Ethereum chain.

• Enzyme Finance updated UI and extended support for Paraswap v5.

• Intergrated to Hector Network and Bitkee.

• Partnered with Algebra Protocol.

Quickswap

• Hexens' security audit found 26 issues, including one critical vulnerability and four high vulnerabilities.

• Introduction of referral rebate scheme.

Curve

• $crvUSD still performs well in an extreme market where it falls 4% in 10min.

• The founder of Curve borrowed 63M USDT with 288M of $CRV as collatera.

— Market Overview —

Trader Joe

• Launch of Auto-Pool: Automated Liquidity based on Liquidity Book.

• EUROC joins Avalanche, Euro Coin is a fully reserved euro-backed stablecoin.

• Joe became one of the first assets to adopt OFT and integrate directly with Stargate.

Uniswap

• Introduced FLAIR—a metric to evaluate LP competitiveness in AMMs

• Launch of Uniswap V4 liquidity model to provide increased capital efficiency, security and scalability：

  • Hooks: Allow developers to do more custom behavior and innovation on top of Uniswap.

  • The Singleton: Put all money in one contract, handle ledger logic in-house, reduce gas consumption and transaction complexity.

  • License and Governance: Released under license, v4 Source code can be used in commercial or production environments for up to four years.

  • Market significance: Increasing the capital efficiency of the protocol attracts more advanced traders and improves its competitiveness with centralized exchanges.

Sushiswap

• Partnering with ThunderCore to build a sustainable DeFi ecosystem.

1inch

• Adopted [1IP-28] to stop collecting the profits generated by the positive slippage of user transactions and give the profits to users to improve the product experience.

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 increased by 28.54% compared with the previous two weeks. From the sequential point of view, the trading volume of most exchanges increased significantly compared with the previous two weeks. iziswap performed well and the trading volume increased significantly. Among the poorer performers were Syncswap and pulse x

In terms of market share, the top three DEX are :Uniswap Pancakeswap Curve The market share of Uniswap has not changed much; Pancakeswap remained in second place; Curve moves up to third place; DODO maintains fourth place,Apex-pro maintains fifth place and other better-performing exchanges all Trader Joe's and others

Whale Watch

The proportion of large transactions, medium transactions, and small transactions on ETH did not change much in the last two weeks compared to the last two weeks.

Part 3. Project Analysis

Orange Finance

Orange Finance is an automated liquidity management protocol for centralised liquid DEX such as Uni v3 that maintains an efficient price range through statistical modelling and delta hedging strategies to maximise the capital efficiency of an LP.

• With Uniswap v3 requiring frequent rebalancing and higher levels of liquidity management, Orange Finance Treasury strategically deploys liquidity ina narrow price range and dynamically adjusts its hedging positions in response to market conditions.

• Orange Finance improves capital efficiency, resulting in higher returns for liquidity providers (LP).

• Benefits: Provides an automated liquidity management library that automatically re-balances liquidity positions by using statistical models to set effective price ranges, reducing exposure to asset volatility.

• Risk: Orange uses the off-chain strategy module to algorithmically rebalance and rearrange positions according to market conditions, and the breakdown of the off-chain system strategy may pose a risk to the user.