Tag Archives: Decentralized Exchange

Coinbase submitted its third comment letter highlighting significant flaws in the US Securities and Exchange Commission’s (SEC) cost-benefit analysis of the proposed rule. The letter argued that the agency has failed to assess the rule’s economic impact on efficiency, competition, and capital formation. Despite acknowledging a lack of critical information on decentralized exchange (DEX) operations and compliance costs, Coinbase said the SEC has proposed vague benefits that...

The latest market manipulation report from Solidus Labs, specializing in crypto-native trade surveillance and risk monitoring, has identified wash trading activity of at least $2 billion worth of cryptocurrency on Ethereum-based decentralized exchanges (DEXs) since 2020. Solidus Labs Exposes Wash Trading in DEXes Solidus Labs analyzed a sample of approximately 30,000 DEX liquidity pools and found that wash traders manipulated 67% of them. Wash trading refers to traders...

The dYdX Foundation, a non-profit organization behind the decentralized crypto exchange dYdX, has released its semi-annual report detailing its ecosystem growth and milestones reached in 2023. According to the report, the foundation fostered the development of the dYdX protocol and grew the community in preparation for the release of the v4 open-source software – the dYdX Chain. The Journey So Far in 2023 The foundation said the regulatory challenges of the crypto industry,...

dYdX Foundation – the non-profit organization behind the popular decentralized exchange (DEX) DYDX – announced some requirements that chain validators and stakers must comply with to ensure maximum user protection. Good practices are organized into six categories: Maximal Extractable Value (MEV), operations and security, performance, transparency, governance participation, and dYdX ecosystem consideration. According to a recent blog post shared by dYdX Foundation, chain...

The developers of MuesliSwap, a decentralized exchange built on the Cardano blockchain, have announced plans to provide refunds to users who experienced significant slippage issues throughout the past year. In an announcement on August 8th, the platform admitted falling short in offering adequate clarity on the slippage feature within the MuesliSwap Pool DEX protocol. Slippage refers to the variance in price between the moment a transaction is submitted and when it is...

Signs of recovery during the later stages of Q1 dampened as trading volumes failed to continue the upward trend in Q2. While centralized crypto exchanges were the biggest losers due to the mounting pressure from regulators, the resultant choppy market conditions didn’t spare the decentralized counterparts either. The latest data compiled by CoinGecko revealed that the spot trading volume on decentralized exchanges plummeted by over 28%. Uniswap, however, maintained its...

Bitcoin has shown immense resilience this year. While the overall rally hasn’t been smooth sailing per se, it holds significance as it came against the backdrop of the banking scandal. This essentially represented a shift in investor sentiment shifted toward viewing Bitcoin as a hedge against banks. According to the latest report by the market tracking platform CoinGecko, spot trading volume across the top 10 crypto exchanges was recorded to be at $2.8 trillion for 2023 Q1,...

Last week’s collapse of Silicon Valley Bank (SVB) and the subsequent contagion appeared to have worked in favor of the decentralized exchanges as trading activity soared to levels not seen since November 2022. According to the latest data from DeFiLlama, the daily trading volume on decentralized exchanges was up by an astonishing 255.36% over the past week and is inching closer to $60 billion, a level last seen four months ago. The figure reached almost $25 billion on March...

Hayden Adams, the Uniswap creator, was just a 23-year-old native of the suburbs of New York in 2017 when he was laid off from his role as an engineer at Siemens. Adams began by writing an application from scratch, and his friend built a sleek new interface for Uniswap on top of what he describes as an “incredibly shitty” React codebase. Fast forward five years, and Uniswap has still managed to retain its position as a DEX leader. Uniswap’s Continued Dominance According to...

Raydium – a Solana-based decentralized exchange (DEX) – was hacked for over $2 million on Friday.  According to Raydium, the hacker appears to have taken control of the exchange’s admin address to carry out the attack.  Over $2 Million Lost Raydium acknowledged the hack over Twitter, noting that investigations were still ongoing.  It provided a link to the attacker’s account, which appears to hold $1.45 million worth of Solana-based tokens at writing time. Solscan shows that...