SwapX started migrating SushiSwap liquidity after SwapX

SushiSwap has been regarded as Uniswap's biggest competitor since its launch. SushiSwap attracted the attention of the market not only because of its innovative model, but also because of the roller-coaster market of its platform token SUSHI. In a short period of time, SUSHI has experienced various reversals such as the skyrocketing listing, the sharp drop when the founder cashed out, and then rebounded. When the industry was actively discussing whether SushiSwap could successfully migrate Uniswap liquidity, the result was revealed. SushiSwap successfully migrated Uniswap liquidity 900 million US dollars. As of press time, Uniswap’s total liquidity dropped by more than 70%, which was overtaken by SushiSwap.

However, after the yellow bird, SwapX (www.swapx.org) announced the launch of liquidity mining for SushiSwap. SwapX is the world's first DEX that allows everyone to own their own liquidity pool fund. It is an evolved version of Uniswap.

IRC Partners with Stellar Development Foundation to Pilot Digital Cash Payment System: Jinse Finance reports that International Rescue Committee (IRC) Partners with Stellar Development Foundation to Pilot Digital Cash Payments Powered by Stellar Network, Circle’s USDC, Vibrant, and MoneyGram International A system to help Ukrainian refugees and others affected by the war with the fast, agile, on-chain traceability, and accountability features of cryptocurrencies. [2022/12/16 21:47:55]

Recently, SwapX officially announced the launch of three serial mining operations, and will start Pair Token holding mining on September 11, LP Token Staking mining on Uniswap and SushiSwap on September 15, and start on Balancer on September 16. LP Token Staking mining. It looks like it's a continuous action.

Coinbase released its fourth-quarter financial report: revenue of nearly 2.5 billion US dollars hit a record high: On February 25, Coinbase released its fourth-quarter financial report on Thursday local time. The data showed that its revenue was close to 2.5 billion US dollars, a record high, and its monthly active-ethexc users The volume also soared to 11.4 million, also a record high. In addition, Coinbase's profit reached US$840 million last quarter, double the previous quarter, but lower than the US$1.6 billion profit achieved in the second quarter of 2021. It is worth noting that Coinbase data shows that the share of ETH trading volume on its platform has surpassed that of BTC (BTC's trading share in Coinbase has dropped to 16%), and the share of other asset trading volumes (mainly Dogecoin and SHIB) has increased from 59% to 59%. % increased to 68%. Additionally, more than $200 million of Coinbase’s earnings came from non-trading operations, which primarily include staking and lending. Those numbers didn’t lift Coinbase’s stock, though, which fell to $169 in after-hours trading on Thursday, still far from its post-IPO high of $400. [2022/2/25 10:14:42]

The transaction volume of the NFT project Loot has suddenly surpassed The Sandbox, and has reached 330 million US dollars: Jinse Finance reported that on January 12, according to the latest data, the NFT project Loot had multiple large-value transactions yesterday, resulting in a rapid increase in its transaction volume. At the time of writing this article has reached $330,079,649, surpassing The Sandbox (the current transaction total is $312,672,395). Loot was once a popular NFT project. Its transaction volume exceeded US$100 million on September 3, 2021, and US$200 million on September 96, but then the transaction volume and transaction value shrank. [2022/1/12 8:43:36]

Judging from the roadmap published on the SwapX official website, SwapX V1 is just the beginning. Compared with Uniswap, SwapX has increased platform governance currency SWP incentives, original Pair Token incentives and LP Token Staking incentives.

Bollywood actor Ranveer Singh becomes CoinSwitch Kuber brand ambassador: On October 8, Indian crypto exchange CoinSwitch Kuber announced that Bollywood actor and youth icon Ranveer Singh will become its first brand ambassador. CoinSwitch Kuber aims to capitalize on Ranveer Singh’s mass appeal, as well as his popularity among Gen Z and millennial clients. Ranveer Singh will star in three commercials in CoinSwitch Kuber's ongoing "Kuch Toh Badlega" campaign, the first of which has been uploaded to the company's YouTube channel.

According to previous reports, Indian encryption exchange CoinSwitch Kuber completed a $260 million Series C round of financing at a valuation of $1.9 billion, led by Andreessen Horowitz (a16z) and Coinbase Ventures, and existing investors Tiger Global and Sequoia Capital India (Sequoia Capital India) participated in the investment, which is a16z's first investment in India. (Money Control) [2021/10/8 5:47:55]

SwapX V2 will be launched in October, which will increase the community governance of the liquidity pool. Each liquidity pool can flexibly set the transaction fee rate, and whether the liquidity pool is an open liquidity pool, so that each liquidity pool can achieve community autonomy.

And SwapX V3 will be launched in November. At that time, limit orders and cross-chain will be realized, and other public chain assets can be traded outside of Ethereum.

This is by far the biggest disruption and evolution of Uniswap in the market.

SwapX upgraded three versions in only three months, while Uniswap only upgraded two versions in two years, which shows the strong R&D strength of SwapX.

Haseeb Qureshi, managing partner of Dragonfly Capital, a blockchain venture capital institution, wrote "Uniswap is inevitable to be dismantled" and said: Uniswap binds the following four key functions:

1. Decentralized inventory supply;

2. Fixed fee model (in particular, each transaction is a 0.3% fee);

3. Always open quotes;

4. Its constant product pricing function (x *y = k)

If these functions are analyzed in turn and disassembled, the design space for market making on the chain will immediately become very broad.

The Uniswap liquidity pool allocates transaction fees according to the actual contribution of LPs, ignoring the creators of the liquidity pool, early liquidity contributors, and non-contributing management and marketing contributors, such as KOLs. This is like a fund without GP. Incentives for non-funder contributors are not conducive to mobilizing community power.

Pair Token represents the governance right of the liquidity pool and the distribution right of SWP, the governance currency of the SwapX platform. With SwapX empowering the community of each liquidity pool, the community needs its own tokens for the community autonomy of the liquidity pool.

The SwapX single mining liquidity pool is the default and no voting is required. Which liquidity pools adopt multi-time mining will be decided by community vote. The liquidity pool community can independently decide the transaction fee rate of the liquidity pool, and whether the liquidity pool is an open liquidity pool, etc.

From a financial perspective, Uniswap is essentially an open liquidity fund. Liquidity providers are LPs and investors. Uniswap itself is the only GP. SwapX is more open to upgrade each liquidity pool into a liquidity pool fund, each liquidity pool fund has its own GP, and SwapX is the infrastructure of this platform, not GP. Obviously, this dismantling has achieved quantitative change to qualitative change, and even subversive innovation.

Although SushiSwap successfully migrated Uniswap’s liquidity, due to the almost 100% homogeneity with Uniswap, it obviously lacks a reason for users to stay. SwapX is not the case. The liquidity pool is activated, and there is a reason for users to stay .

For the above-mentioned "Swap" mining, this is just a cold start method for SwapX, and the real goal of SwapX is to become a DEX with unique value that allows everyone to own their own liquidity pool funds.

It is inevitable that Uniswap will be dismantled, and SwapX is the most daring subverter to completely dismantle Uniswap.

The Swap competition has just begun, and the best is yet to come!

Tags：

DAI