Can DeFi Financial Innovation activate the tepid DEX market?

As an important part of the DeFi ecosystem, DEX is immeasurable. However, the DEX market currently has a problem of less user base and less experience.

In October, DAppTotal has counted 15 DEX platforms on the Ethereum platform: total transaction volume is 700,018 ETHs (down 15% from August); total transactions are 262,149 (down 3.4% from August), on average 2.67 ETHs were traded (down 11% from August).

Among them, there are 9 DEX platforms with a transaction volume exceeding 10,000 ETH in October, as follows:

Compared with September, the trading volume of each DEX slightly subsided, but the ranking did not fluctuate greatly.

First, Eth2dai upgraded to OasisTrade

Eth2dai DEX was originally only applicable to token exchange between WETH and DAI, which has certain limitations in function and limits the mobility of other digital assets.

We observed that Eth2dai had the largest monthly transaction volume between Ethereum DEX. In order to attract more people to use this DEX, Eth2dai's project party launched a new version of DEX OasisTrade in early October.

In addition to the UI adjustment from the Diablo mode to the advanced whitening mode, OasisTrade also added REP, ZRX, BAT three token trading pairs, and then look at the trading data changes brought by the upgrade:

As you can see, the upgrade of OasisTrade did bring a lot of traffic to this DEX, which led to a double increase in transaction volume and transaction volume . Compared to the daily transaction volume of 5,000 ETH, the upgrade brought a peak of 15,000 ETH. The amount of the transaction, this score is very impressive. However, the good times did not last long and the prosperity did not last long. After October 9th, the data did not increase. It can be seen that the upgrade of the operating experience can not bring qualitative changes, the key is to continue to cultivate the user habits of the DEX market.

Second, DDEX Margin online main network

After the completion of the blockchain security company PeckShield audit, the decentralized exchange DDEX Margin was launched on October 17th in the Ethereum main network. DDEX said that the version provides one-stop lending + leverage services, users do not need to go to the lending platform and transactions separately. The platform introduces the futures model from the original centralized exchange into DEX, supporting up to 5 times leverage and bullish Ethereum. In addition, the commonly used lending function in DeFi is directly integrated into DEX. Currently, DAI, ETH, and USDT deposits are supported. The highest annual interest rate is DAI, which is 5.72%, and supports DAI and USDT loans.

DDEX A platform, two experiences, lowering the user's usage threshold, and joining the DeFi lending ecosystem to drive the growth of the DEX market, can such innovative attempts bring results? Throughout October, the data on the number of transactions and the transaction amount of DDEX are as follows:

It can be seen that from the daily transaction volume, the launch of the DDEX Margin version does bring about nearly double the transaction volume of the platform, but similar to the situation of OasisTrade, the basic position is unstable, and it will immediately return to the previous one. Level.

summary

As an important part of the DeFi ecosystem, DEX is immeasurable. However, the DEX market currently has a problem of less user base and less experience. Therefore, many DEX platforms will gradually try to innovate in the direction of financial extensions such as lending, and try to use more innovative gameplay to activate and stimulate traffic growth, but actually It seems that the overall data of the major DEX platforms is still unstable, and the market needs to be continuously cultivated and developed.

The problem is very big, but compared to the traditional exchange, DEX's data transparency brings more imagination space for the development of the industry. Similar to the exploration of Binance DEX, and the extension of DDEX's gameplay in financial innovation, it will gradually Bringing development and opportunities to the DEX market.