Part 1. DEX Updates
— Key Takeaways —
💡 Trader Joe will be deployed to BNB Chain.
💡 Uniswap Permit2 went live.
💡 Sushiswap released its 2023 plan, including routing aggregation, concentrated liquidity upgrade, etc.
💡 In terms of trading volume, the overall trading volume of the market in the past two weeks has increased slightly compared with the previous two weeks. The trading volume of most DEXs has increased. Canto DEX performed very well, with a significant increase in trading volume. Other exchanges that performed better on a month-on-month basis include Trader Joe and Openocean; exchanges that performed poorly include Sunswap and Orca.
— DEX Roundup —
Balancer
- Voted to launch a series of new asset pools, such as: ankrETH/ETH, cbETH/wstETH, wstETH/WETH, etc.
Pancakeswap
- Pancakeswap released a Chinese New Year event.
Paraswap
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Fans are called on to participate in the Token House voting of the Op chain, and Paraswap enters the alternative through voting.
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PSP 2.0 is launched. The official tutorial is released to guide users on how to migrate and how to use mobile applications to stake.
Trader Joe
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Trader Joe's partnered with @GainsNetwork_io in an effort to bring the leveraged trading market to DeFi.
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Trader Joe will be deployed to BNB Chain.
— Market Overview —
QuickSwap
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QuickSwap integrated with Gamma to enable concentrated liquidity management.
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Gamma is a non-custodial, permissionless protocol that builds the infrastructure for concentrated liquidity pools.
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Through the integration with Gamma, LPs can use QuickSwap V3 for proactive liquidity management.
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Integrated with @unstoppableweb, Unstoppable Domains, a Web3 domain name provider.
SpiritSwap
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Fantom recently released a proposal on Gas monetization. The plan has certain qualification requirements for participating DAPPs, such as completing 1,000,000 transactions and being active on the network for at least 3 months. SpiritSwap will participate in the program.
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Launch a proposal to discuss whether to deploy to the new L1 blockchain Canto Network.
Uniswap
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Permit2 is launched. After users use Permit2 to authorize tokens on Uniwap, the authorization will expire after 30 days.
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@dexscreener added Uniswap swap widget, and its trading volume got $1.2M within a week.
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Published a research article on the on-chain foreign exchange market.
Sushiswap
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Sushiswap released its 2023 plan.
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Sushiswap will capitalize on aggregation router introduction in Q1 ’23 to enter the DEX aggregation business.
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Sushiswap will redesign tokenomics to encourage LPs to migrate to Sushi for increased ROI and promote deep integration with its network partners.
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Sushi Studios is Sushi’s decentralized incubator that will license the brand to launch independently-funded projects to support ecosystem growth without burdening the DAO treasury.
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1inch
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Cooperated with @beefyfinance.
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1inch launched a hardware wallet.
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 slightly compared with the previous two weeks. The trading volume of most DEXs has increased. Canto DEX performed very well, with a significant increase in trading volume. Other exchanges that performed better on a month-on-month basis include Trader Joe and Openocean; exchanges that performed poorly include Sunswap and Orca.
In terms of market share, the top three DEXs were: Uniswap, Curve, and Pancakeswap. Uniswap's market share increased. Curve remained in second place with a significant market share increase, and Pancakeswap rose to third place. Moreover, DODO drop into fourth. Canto DEX rose to fifth place. Other exchanges that performed better are Trader Joe and Sushiswap.
The Aggregator share of DEX volume on Ethereum had a slight increase these two weeks, from 23.7% to 25.3%.
Whale Watch
Compared with the previous two weeks, large-scale, medium-scale and small-scale transactions remained the same.
Part 3. Project Analysis
Canto DEX
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Canto is an EVM-compatible chain built through the Cosmos SDK, aiming to provide free public infrastructure, especially DeFi services.
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Canto DEX is one of Canto's core products, which is free.
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In order to prevent the possibility of a predatory evolution toward rent-seeking behaviors, Canto DEX cannot be upgraded and it has no official interface. And it runs in perpetuity without the ability to implement fees.
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Canto DEX only provides two kinds of liquidity pools, the range liquidity pool and the concentrated liquidity pool. The formula used by the concentrated liquidity pool of Canto DEX is yx^3 + xy^3 = k.
About us:
「Dr. DODO」is the research arm of DODO. We track the evolvement of DeFi and related sectors. Dr.DODO leads a group of researchers to decode the crypto world, conduct in-depth research, publish distinctive views and predict the future value of the crypto world
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