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Decentralized exchange aggregator trading volumes surge to new highs

December 6, 2021 Coin Telegraph

More and more traders are turning to DEX aggregators to seek out the best rates for token swaps.

Trading volumes on popular decentralized exchange (DEX) aggregators have surged to new highs over the past few weeks.

Decentralized exchange aggregators provide a way for token traders and swappers to scan several DEX platforms to get the best swap rates at the time.

According to Dune analytics, popular DEX aggregators such as 1inch, 0x, and Paraswap have seen volumes surging over the past month. The combined volume for those three hit a cumulative weekly all-time high of $6 billion last week, increasing by around 50% since the beginning of November.

DEX aggregator weekly volumes - dune.xyz

1inch has a minor lead in terms of the current market share at 53%, but 0x is rapidly catching up with 42% recorded for December so far. Last week, 1inch announced a Series B funding round led by Amber Group that raised $175 million.

On Dec. 5, 0x actually surpassed 1inch in terms of daily volume share with 49% compared to 43.7% according to Dune. According to 0xTracker, the DEX aggregator has processed $3 billion in volume over the past 7 days.

0x provides an application programming interface (API) that can be used by DeFi developers to integrate token swaps sourced from leading DEXes directly into smart contracts.

The 0x protocol also has a native DEX called Matcha which has processed $4.7 billion in trade volume over the past 30 days as reported by its dashboard.

Dune’s DEX analytics reports that there has been $4 billion in trading volume on decentralized exchanges over the past 24 hours and $33 billion for the past week. The aggregator share of that volume is currently 20%.

Uniswap is the current DEX market leader by a long way with a 79% share according to Dune. It has processed $26.2 billion in trading volume over the past week. SushiSwap, which was originally cloned from Uniswap, ranks in second place with a 9.8% share of the DEX market.

0x expands partnership with Celo to distribute $4.5M to DAO ecosystem

December 3, 2021 Coin Telegraph

0x expands partnership with Celo to distribute .5M to DAO ecosystem

The two firms were part of a consortium of DeFi projects that founded the financial inclusion and education initiative DeFi for the People in August.

0x protocol and Celo blockchain have announced a joint partnership to allocate $4.5 million — consisting of $3 million CELO and $1.5 million ZRX — towards the growth of 0x’s ecosystem via its community-centric decentralized autonomous organization (DAO).

The news follows an agreement penned in mid-November between the two firms to integrate a zero-cost 0x API functionality on the Celo blockchain to enhance the experience of DeFi developers seeking to access multi-chain aggregated decentralized exchange (DEX) liquidity services.

Celo is an open-source collective of tech, nonprofit and nongovernmental organizations (NGOs) unified to promote greater global access to decentralized applications (dApps) and cryptocurrency payments via its mobile-centric model, while 0x is a decentralized web infrastructure that facilitates tokenized ERC-20 investing through the use of public smart contracts.

0x claims that, since its launch, its API feature has enabled more than 21 million trades across more than 1.8 million unique addresses for a sum of over $100 billion in volume across popular chains Ethereum, Binance Smart Chain, Polygon, Avalanche, and Fantom.

Celo's head of ecosystem growth Xochitl Cazador said the new partnership is designed to foster "rapid expansion" of a "truly decentralized DeFi within the 0x community DAO."

Founded upon principles of decentralization, community governance and transparent objectives, the re-emergence of DAOs over the past 12 months has ignited the conversation for the technology becoming the next major sub-sector of mass growth within DeFi during 2022, and as such, accelerating the growth of an industry already establishing historic total value locked (TVL) of $274.65 billion. By comparison, DeFi's TVL was less than $20 billion a year ago and virtually non-existent at the start of 2020.

In August this year, both Celo and 0x were founding members of the decentralized finance philanthropic initiative DeFi for the People. The collaborative venture, which included notable projects such as Aave, SushiSwap and Curve, among others, raised $100 million to support a panoply of financial inclusion and education schemes.

Aligning with these collaborative principles in this latest funding, 0x Labs’ co-founder and co-CEO Will Warren said the Celo partnership is expected to have a positive impact on his platform's native ZRX token. ZRX is currently valued at $1.07 for a total market capitalization of $910 million, according to CoinGecko.

Non-Custodial Dex Platforms Continue to Expand — Curve, Pancakeswap, Sushiswap, Uniswap Lead the Pack

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Polygon committing $10M to reach 1M users using 0x API

June 10, 2021 Coin Telegraph

Polygon committing M to reach 1M users using 0x API

The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem."

The network onboarding a large number of decentralized applications aims to hit one million users through 0x’s decentralized exchange liquidity aggregator API.

In an announcement today, Polygon said its project would be committing $10.5 million towards securing decentralized finance infrastructure on its network through the support of developers and projects. The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem” with initial support offered for Matchaxyz, Dexguru, Dexkit, MyCrypto, Set Protocol, Zapper.fi and Zerion.

Last month, 0x released a Polygon version API for its decentralized exchange liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The API allows major Ethereum-based DEX liquidity channels including SushiSwap, Dfyn, Curve, Dodo, mStable, QuickSwap and Cometh to integrate Polygon.

The network has the support of major investors including billionaire Mark Cuban, who said last month that the price of cryptocurrencies should better reflect real market demand, with “a current network effect and significant user growth.” Though the price of Polygon’s native token, MATIC, exceeded $2 for the first time in May, the cryptocurrency has since fallen to $1.39 at the time of publication.

0x launches DEX liquidity API on Polygon

May 31, 2021 Coin Telegraph

Polygon’s decentralized finance footprint continues to grow, with 0x releasing a version of its decentralized exchange liquidity aggregator API on the “Ethereum scaler.”

0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market.

The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon.

According to the announcement, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, as well as Dodo, mStable, QuickSwap and Cometh.

Detailing the ease of using the 0x API on Polygon, the announcement reads:

“Developers are able to access the open source 0x API and accompanying documentation to start building on Polygon instantly. The API has been designed to make it easy for DeFi devs to tap into DEX liquidity in a fast, reliable, and easy to use way.”

0x reportedly plans to expand its DEX liquidity aggregation capability with the team promising access to its open book orders and request for quote (RFQ) system in the next 0x API iteration scheduled for release in June.

As part of the announcement, the 0x team stated that its API service had facilitated $26 billion in trading volume from over 1 million trades carried out by about 250,000 unique entities. This $26 billion in activity has been across both the Ethereum and Binance Smart Chain networks, which are currently the two most active DeFi markets.

According to the 0x team, Polygon attracting major DeFi protocols like Aave, Curve and Augur is proof of the platform’s vibrant DeFi scene. As previously reported by Cointelegraph, Polygon recently debuted an SDK framework for building Ethereum-compatible chains.

Interblockchain liquidity protocol Ren is also interfacing with Polygon. Earlier in May, Ren announced a new bridge to port Ren-based wrapped tokens — ERC-20 representations of “coins” like Bitcoin (BTC), Dogecoin (DOGE) and Zcash (ZEC), among others — to the Polygon network.

0x

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