Part 1. DEX Updates

— Key Takeaways —

💡 Balancer partnered with GyroStable to launch concentrated liquidity strategies. 💡 Liquidity Book of Trader Joe had integrated with the 0x API and @matchaxyz aggregator. 💡 Uniswap Wallet added support for moonpay fiat transactions and integrated WalletConnect 2.0. 💡 In terms of trading volume, the overall market trading volume has decreased by 37.16% over the past two weeks compared to the previous two weeks. Looking at the week-on-week comparison, most exchanges experienced a decline in trading volume compared to two weeks ago. However, DODO and Apex-pro performed well, showing a significant increase in trading volume. On the other hand, Spookyswap and Syncswap performed poorly, exhibiting a decrease in trading volume.

— DEX Roundup —

DODO

• Collaborated with Clique to host an event.

Balancer

• Soon to collaborate with LayerZero to support veBAL cross-chain to Layer2.

• Partnered with GyroStable to launch concentrated liquidity strategies, with GyroStable specifically building a market-making model for LST assets, currently supporting $stMATIC/$wMATIC.

• Launched Binance Staked ETH, supporting $WBETH/$wstETH fund pool.

Paraswap

• Integrated Pancake V3 liquidity.

• Launched the ParaTroopers program to incentivize DAO members.

• Swing (a B2B service provider offering various components, SDKs, and APIs) integrated with Paraswap.

• Published a new proposal, aiming to modify the governance framework and adjust parameters.

• Defispot (a cross-chain trading platform) integrated with Paraswap.

Maverick

• Initiated market-making incentives, migrating fund pools, and releasing position NFTs.

• Launched unshETH-ETH asset on the LSD track.

Quickswap

• Prepared to launch the cbETH pool, Coinbase's $cbETH token, which is an LSD token.

• MNI/USDT surged to first place in trading volume on V2. MNI is a token issued by MnI Corp, representing a Southeast Asian project.

— Market Overview —

Trader Joe

• Participated in the #Roadto1Million Presents: The Seed Phrase Hunt event organized by BSC News.

• Liquidity Book had integrated with the 0x API and @matchaxyz aggregator.

Uniswap

• Positioned in the Account Abstraction track, where Uniswap engineers won the Best Project Award for Account Abstraction at the Ethereum conference in Tokyo.

• Uniswap Wallet added support for moonpay fiat transactions and integrated WalletConnect 2.0.

• Integrated with Rabby Wallet.

• Proposal to deploy Uni V3 to Moonbeam was approved.

1inch

• Passed a proposal to deposit the USDC from the treasury into the lending pool of AAVE V3 to earn passive income. Proposal link: here.

• Created a separate Twitter account for 1inch DAO.

• Community discussions were held on whether to stop charging profits generated from users' trades' positive slippage and instead give the profits to the users to enhance the product experience.

Part 2. Data Tracking

Trading Volume and Market Share Analysis

In terms of trading volume, the overall market trading volume has decreased by 37.16% over the past two weeks compared to the previous two weeks. Looking at the week-on-week comparison, most exchanges experienced a decline in trading volume compared to two weeks ago. However, DODO and Apex-pro performed well, showing a significant increase in trading volume. On the other hand, Spookyswap and Syncswap performed poorly, exhibiting a decrease in trading volume.

In terms of market share, the top three DEXs are as follows: Uniswap, Pancakeswap, and Openocean. Uniswap's market share has remained relatively stable. Pancakeswap maintains its position as the second-largest DEX. Openocean has risen to the third position. DODO remains in the fourth position, while Apex-pro maintains the fifth position. Other exchanges that have performed well in terms of market share include Pulse x and Quickswap, among others.

Whale Watch

Compared to the previous two weeks, there hasn't been a significant change in the proportion of large-scale, medium-scale, and small-scale transactions on ETH in the past two weeks.

Part 3. Project Analysis

Timeswap

Timeswap is an innovative liquidity management protocol that combines the features of an uncollateralized money market and an options market in a decentralized manner, without the need for oracles.

• The protocol provides prices based on a formula similar to Uniswap, saving on gas fees.

• Timeswap improves capital efficiency, resulting in higher returns for liquidity providers (LPs).

• Advantages: No need for oracles; interest rates are determined by borrowing demand, facilitating market price discovery; no liquidations (fixed-term) and the introduction of external LPs increase flexibility for borrowers and lenders.

• Risks: If borrowing demand increases, interest rates may rise, and the capital efficiency of the protocol could be affected without additional LPs providing liquidity. Attracting external LPs to participate in providing liquidity poses a potential challenge.