Reports & Analysis

6 decentralized exchange tokens that grew exponentially in 2021


Digital currencies for decentralized exchanges have quietly experienced triple-digit jumps as new weekly records are recorded in defaults locked in defai.

to the the report Coin Telegraph, Decentralized Finance, has grown steadily over the past year thanks to the solid foundations created by Decentralized Exchanges (DEX) for easy access to the latest tokens and projects.

Examples of decentralized exchange user interfaces such as IDEX or Etherdelta already exist. But trading on the Difai network really started when it facilitated the launch of financing tokens when the decentralized Uniswap exchange started operating.

Here are six tokens that have performed best in decentralized finance.

Uniswap Token (UNI)

6 decentralized exchange tokens that grew exponentially in 2021

Uniswap was originally a simple user interface that allowed the exchange of tokens between two ERC-20 tokens. But it has now become a major part of rapidly evolving defense, with an average daily trading volume of $ 1 billion and a locked-in liquidity of $ 3.95 billion.

The ion-swap platform initially operated without its own internal token, and commissions received were deposited in liquidity reserves. But after launching its rival platform, SuchiSwap, the project launched an amazing airdrop for platform users and liquidity providers. The SUSHI swap platform (SUSHI) had the same ion-swap user interface at launch, but also provided a sushi governance token.

The price of the Uniswap token quickly rose above $ 7 after being published and listed on several top exchanges, but corrected to $ 1.93 on November 4. Since then, the price of the Uniswap has continued to rise, reaching a record high of $ 32.50 on February 20. At the time of editing this report (March 8 – March 18, 1999) Uniswap has set a new historical record by reaching over $ 33.

The excitement of the release of the third version of Uniswap and the possibility of sharing and earning part of the fees for the holders of this token continues to motivate the increase in demand and prices.

SUSHI token token

6 decentralized exchange tokens that grew exponentially in 2021

The beginning of Sushi Swap has a controversial story. The exchange started as a similar version of UniSwap, and its main developer unloaded its tokens in the market and then donated all the financial resources for the development of the project. But the exchange has since become a superior decentralized exchange in terms of user participation and token prices.

Governance and equity were among the first facilities enjoyed by sushi swap owners. There were also growing incentive schemes for early suppliers of liquidity, which some called a “vampire attack” on Uniswap.

The price of the sushi swap token rose from $ 1.16 on August 29 to $ 8.84 on September 1 after being listed, but the release of the token by the main developer Chef Nomi in the open market pushed the sushi swap token to zero. $ 475 will fall on November 4.

The token has risen more than 4,080 percent since then, reaching a record high of $ 19.77 on February 20. Sushi Swap Exchange, with $ 3.56 billion in current liquidity for the protocol, ranks sixth among Diffie platforms in terms of total locked value.

CAKE token

6 decentralized exchange tokens that grew exponentially in 2021

PancakeSwap has seen a significant increase in its token price in the first two months of 2021; It has emerged as a competitive decentralized exchange and the first billion dollar project in Smart China Bainance (BSC).

Ethereum’s staggering fees (ETH) have paved the way for Smart China Bainance to snatch liquidity and users from Ethereum’s top competitors, and Cake has stepped in to facilitate this process.

The protocol provides an extensive list of shareholder pools, yield farming opportunities, a collection section, and an in-house lottery, which in addition to becoming a defa platform, has many hot topics in the field of cryptocurrencies. .

Prior to the end of January 2021, the cake token was generally trading below $ 0.70 and the bottom price was at $ 0.194 on November 3, 2020. The increase in the price of this token started around the last week of January, which coincided with the influx of r / Wallstreetbets traders in the traditional markets.

The token exploded 11,000 percent after hitting a $ 0.194 mark, hitting a historic high of $ 20.33 on Feb. 19 when Smart China Binance became Ethereum’s top competitor thanks to impressive resources in the Binance ecosystem. Experienced.

Serum Token (SRM)

6 decentralized exchange tokens that grew exponentially in 2021

Serum is a decentralized derivatives exchange (futures and options) operating in the Solana blockchain network. This decentralized exchange is the product of a collaboration between the Solana team and the operators of the FTX encrypted derivatives exchange.

Solana was chosen to host the decentralized exchange because it has a potential of 710,000 transactions per second and its current capacity has passed the test of 50,000 transactions per second. Given that Ethereum currently operates at 15 transactions per second and its fees are very high due to network congestion, Solana and Serum could soon see an increase in usage by traders looking for lower fees.

Serum allows its token holders to deposit their tokens for dividends and also use them to reduce transaction fees by up to 50%. With the support of inter-chain transactions, this exchange allows the exchange of assets without the need for trust among different blockchains through a network consisting of more than 100 validators.

Following the failure of prices following the launch of Difai in the summer of 2020, the Serum price fell to $ 0.78 on November 4 and then climbed with support. Since then, with increasing attention to non-Ethereum options, serum prices have risen 944 percent to a new high of $ 8.13 on February 25th.

Lina

6 decentralized exchange tokens that grew exponentially in 2021

Linear Finance is a newcomer to the field of defense that has just been launched on the Smart China Binary after its initial release as the ERC-20 token.

This protocol provides the ability to lock tokens for multiplication of synthetic asset tokens in liners known as “liquid”. In addition, it allows users to access traditional assets such as foreign currencies and commodities by using dynamic commissions and trading them in a decentralized financial context.

The liner mid-chain method allows users to benefit from lower fees. Also, its internal Oracle solution helps to address the problem of frontranging that is currently seen in Ethereum-based protocols.

Introducing governance capabilities and enabling them to vote on the future direction of the project is part of Lina’s plans for the future of the protocol. This vote will also include a decision on the amount of the transaction fee and the amount of budget allocated to the insurance fund.

Following the release of the Lina token in September 2020, its price fell to its lowest level on November 19, at $ 0.0047. But after migrating to Smart China Bainance and announcing several partnerships and listing in exchanges, it rose a whopping 3,300 percent to $ 0.112 on February 12th.

View Exchange and growing Defy software

6 decentralized exchange tokens that grew exponentially in 2021

Waves is a multi-purpose blockchain that supports a variety of decentralized software and smart contracts, including decentralized exchanges.

One of the inseparable parts of the View ecosystem is the View Exchange, which was initially launched in 2017 under the name Waves DEX. The exchange enabled fast, secure and low-cost trading and equity for major digital currency assets as well as tokens created on the View protocol.

The average 24-hour trading volume at the View Exchange is currently $ 10 million. But the recent rise in the price of WAVES, along with a growing portfolio of Defy software such as Swop.fi, and a significant increase in ecosystem activity, given that Ethereum Network fees are expected to remain high until the full release of Ethereum 2. Will be view.

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