Aggregator

SushiSwap’s new DEX aggregator will ’10x our market share’ — Head Chef

January 17, 2023 Coin Telegraph

2023 plans

SushiSwap’s roadmap for the coming year includes the development of a DEX aggregator, a decentralized incubator, and "several stealth projects."

Just a month after warning of a "significant deficit" in its treasury, the CEO of decentralized exchange (DEX) SushiSwap has shared several planned updates to the platform which it says is intended to "10x" its market share in 2023.

Sushi CEO Jared Grey laid out the plans for the decentralized finance (DeFi) platform in a Jan. 16 Medium post saying it will focus on its product stack in line with prior plans to make Sushi more sustainable.

"Sushi commands ~2% of the AMM market & 0% of the aggregation market. By executing our vision, we intend to 10x our market share in 2023."

Newly announced plans include a DEX aggregator set for launch in Q1 and a “decentralized incubator” on the cards for 2023.

Grey said the upcoming DEX aggregator — a tool giving users access to various DeFi protocols — was built in “stealth mode” throughout last year, and is part of its plans to drive scalability and sustainability of its business.

Read how we're revitalizing @SushiSwap in 2023!https://t.co/KTnNgtUMaw
— Jared Grey (@jaredgrey) January 16, 2023

Grey also laid out the vision for Sushi Studios, a so-called decentralized incubator where Sushi will help launch self-funded projects “to support ecosystem growth without burdening the DAO treasury.”

He added “several stealth products” are currently in development along with its long-awaited nonfungible token (NFT) marketplace Shoyu expected for a first-quarter launch and a perpetual DEX platform.

The push for more offerings comes after a Dec. 6 governance proposal put forward by Grey revealed Sushi’s treasury only had one and a half years of runway left that “threatens Sushi’s operational viability.”

On Dec. 11, Grey said the DEX lost $30 million over the prior 12 months on incentives for liquidity providers (LPs).

Later that month he put forward a proposal to redesign the tokenomics of the SushiSwap (SUSHI) token to try to strengthen Sushi’s treasury reserves.

Grey confirmed in his latest post that "we took measures to secure our runway for multi-year operations."

As for Sushi’s other 2023 plans, the platform is also building a governance dashboard and focusing on user experience.

The dashboard showcases Sushi's budget, crypto wallets for each project and Treasury expenditure audit results.

“Ultimately, we will provide deep liquidity, optimal pricing, sustainable tokenomics, & an easy-to-use platform, placing you first in everything we build,” Grey said.

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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.

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FOMO or fundamentals? Here’s why Orion Protocol (ORN) rallied by 730%

March 27, 2021 Coin Telegraph

Aggregator

Orion Protocol has rallied 730% since February to hit a $500 million market cap, but what’s really behind the recent gains?

As the decentralized finance (DeFi) industry grows, new exchanges and liquidity pools constantly emerge. For the average investor, keeping track of all of them and finding the best yield opportunities has become increasingly complicated.

The situation becomes even worse as centralized exchanges also offer staking opportunities. Therefore, the need for a liquidity aggregator that connects to several decentralized and centralized exchanges has become quite clear. Orion Protocol aims to provide access from a single platform for users to trade and swap pools.

Instead of competing with exchanges, the service aggregates order books and liquidity into one decentralized platform. When in place, Orion Terminal will offer Binance and KuCoin trading without the need for any accounts or Know Your Customer (KYC) verification. Moreover, it will provide connectivity to both Ethereum and Binance Smart Chain.

The Orion Terminal aims to go live on March 31, and since February, Orion Protocol's ORN token has rallied by 730%.

*ORN/USDT on Binance. Source: TradingView*

According to the Orion Protocol blog, users will trade and stake without giving up their private keys, using MetaMask, Fortmatic and Coinbase wallets. By depositing funds into the smart contract, users will be able to trade across exchanges with no need for multiple accounts.

As for the staking and liquidity pool aggregation services, final testing and a mainnet are expected for mid-2021. The project also has amassed over 40 partners, bringing additional volume to the protocol and boosting potential staking rewards.

Expansion plans include derivatives, leveraged exchange-traded funds (ETFs), nonfungible tokens (NFTs), lending, margin trading and staking for many digital assets.

This all sounds very enticing, but promises of Bloomberg-like crypto trading terminals have been coming and going since 2017, and none of those have lived up to expectations. Furthermore, in October 2020, MetaMask launched its own decentralized exchange aggregation service.

Furthermore, the number of non-KYC centralized exchanges is declining every year, leaving little room for Orion Protocol to expand its service.

In short, DEX aggregation is an extremely competitive sector with little to no entry barriers. Therefore, the ORN token might have priced in some market share that may never come to fruition.

*Balancer TVL and trading volume. Source:* *DeBank*

As a comparison, the Balancer Protocol Governance Token (BAL) has a $1.7 billion total value locked (TVL) and $50 million in daily average volume. Meanwhile, BAL’s market capitalization stands at $743 million, 28% above Orion Protocol’s yet-to-launch product.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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