DEX Monthly | Ethereum DEX Shuangxiong: IDEX and Eth2dai

In the past September, DAppTotal.com monitored 15 DEX platforms on the Ethereum Ethereum platform and conducted an in-depth analysis of the data on the chain:

The total transaction volume in September was 823,948 ETH (down 0.7% from August); the total number of transactions was 271,421 (down 24.9% from August), with an average of 3 ETH per transaction (up 31% from August).

Among them, there are 10 DEX platforms with a transaction volume of more than 10,000 ETHs, as follows:

I. Ethereum DEX platform duo: IDEX and Eth2dai

In terms of the number of transactions, the total number of IDEX transactions in the month was 127,044, accounting for nearly 46% of all statistical DEX platforms, and the daily transaction volume has been on average 40%. In terms of transaction volume, IDEX is temporarily the king of Ethereum DEX. DAppTotal analysts believe that IDEX was launched in early 2018. The website has taken into account the user experience in product design, and the order transaction speed is suitable for the high liquidity market, which has become its core competitive advantage for DEX.

In addition, from the transaction value, Eth2dai's total transaction volume in September was 236,251 ETH, accounting for 28% of all statistical transactions on the DEX platform. The Eth2dai platform was created by MakerDao for conversion between ETH and DAI tokens, while DAI was used for Maker CDP reimbursement. As the demand for DeFi borrowing surged, Eth2dai's market demand was also driven.

Second, the market fluctuations stimulated the surge in the volume of the DEX market

From the data point of view, DAppTotal has counted Ethereum DEX's daily trading number of 10,000 strokes, which reached a peak of more than 14,000 on September 24; in addition, the daily turnover amounted to 20,000 ETH, and the transaction reached on September 24th. The peak is 112,222 ETH. September 24 What happened on this day?

As we all know, on September 23, the digital currency market changed, and the price inflection point of ETH dropped sharply. This decline caused users to sell digital money in large quantities on September 24, and many of them exchanged ETH for stable currency. For the need to preserve value, some users also sell ETH in exchange for DAI, and pay DAI to Maker to redeem the previously mortgaged ETH to prevent liquidation by the system. Various factors made the emergence of DEX on September 24th. When this part of the demand was met, DEX returned to the original smooth development track.

It is not difficult to see that when the market changes, users can optimize the assets on their hands through DEX to hedge the loss of digital assets caused by market fluctuations.

summary

DEX is part of the DeFi ecosystem. The stability and security of the platform is above everything else. On September 13th, the AirSwap team launched a new version of the Instant transaction, and was later found to have a fatal flaw in the new online contract. The vulnerability could cause the user's assets to be smuggled by the opponent in some cases, and then AirSwap will take the new contract off the line and roll back the site to the previous version. Here, DAppTotal believes that the DEX project party needs to find a third-party team to audit the security of the contract before launching new features for the sake of respect for users and funds.

Although the current DEX is limited to the performance of the underlying public chain, the data of each indicator is not as good as the traditional centralized exchange, but in the long run (such as the introduction of its own DEX), the advantages of DEX will gradually show up.

Source: DAppTotal