Golden Observation | Lively Sushi and flustered centralized exchange

The hottest project in the past two days is "Sushi" Sushiswap.

SushiSwap was launched on August 27, and the total value of its locked assets has exceeded US$1.3B in just 5 days. However, during these five days, the embarrassment of the centralized exchange was also exposed.

SushiSwap will be launched at 11:50 on August 27;

At 18:45 on August 27th, Coinbase software engineers claimed that SushiSwap had a backdoor, so that the project could steal funds;

At 19:45 on August 27, SushiSwap has handed over the management authority to the Timelock contract;

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2. Huobi Group issued a notice on the handling of the new leaders who "set off internal fighting" that did not match the actual situation and dismissed those who violated discipline

3. North Dakota issued a cease and desist order to three ICO companies including Bitconnect

4. XRP can be converted into cash on Japanese ATMs

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7. SEC accuses traders of violating securities laws, allowing only Bitcoin to be used to buy swaps

8. Vice President of IBM Food Trust: There are still difficulties in applying blockchain to agriculture

9. The Colombian encryption regulatory draft has been criticized by the technology community for placing cryptocurrencies under the jurisdiction of the Ministry of Information Technology and Communications [2018/9/28]

On August 29, CertiK revealed that there are multiple loopholes in the Sushiswap smart contract;

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At 14:00 on August 30, Gate.io will be the first to list Sushi;

Jinse Finance live report Feng Shuixing, chairman of Wanguo Group: blockchain technology is the leader of the next generation of technological revolution: Jinse Finance live report, at the 2018 world's first Wanguo Blockchain Technology Expo, Feng Shuixing, chairman of Wanguo Group, made an opening speech. He pointed out that the blockchain is the leader of the next generation of technological revolution, and this expo provides a platform for the industry to communicate on industry development and discuss the implementation of blockchain applications. Wanguo Group hopes to explore blockchain landing projects, hoping to form a blockchain ecosystem and realize Wanguocheng Group's corner overtaking. The social and economic development is changing rapidly, and enterprises can only adapt to the needs of social and economic development by adjusting their own pace. [2018/4/21]

At 15:30 on August 30, a user of the Gate.io platform sent 400,000 USDT to the SushiSwap token issuance contract by mistake;

At 17:00 on August 30, SUSHI broke through $2.639, with a maximum increase of 178.6%;

At 15:35 on August 31, the liquidity of Sushiswap was nearly 1 billion US dollars, equivalent to 68% of the liquidity of Uniswap;

BKEX global will list SUSHI at 16:30 on August 31;

BiKi will list SUSHI at 18:00 on August 31;

September 1st: AOFEX Exchange, FTX, OKEx, Huobi, Chainlink Cloud Platform, Binance, Jubi, WBF, CoinBene, BBKX, etc. successively launched SUSHI; Gate.io even launched SUSHI perpetual contract trading.

Obviously, facing the traffic and funds under the huge wave of DeFi, CEXs are a little panicked.

Not only bowed their heads to the "flow" in a panic, but the centralized exchange also endured the hot pursuit of DEX.

Figures for August show that monthly trading volume on decentralized exchanges exceeds $11 billion.

According to data released by Dune Analytics, which tracks the trading volume of the DEX industry, DEX had a trading volume of US$11.318 billion in August, an increase of 163% from the US$4.310 billion in July.

As was the case in July, most of the DEX volume comes from Uniswap. Overall, Uniswap accounted for 58% of total trading volume in August, while Curve accounted for 16%.

In the past 24 hours, the trading volume of Uniswap exceeded 771 million US dollars, followed by Curve 149 million US dollars.

The carnival of DEX is the loneliness of centralized exchanges.

DeFi itself is still in the early stages of development, and there are various hidden dangers such as security attacks and contract code vulnerabilities, and many projects that have been launched in a hurry to take advantage of the popularity of DeFi have magnified the risks. At this time, more market participants need to strengthen user education: how to allow more users to participate in the DeFi ecosystem, and how to remind users of the risks of DeFi. For the exchange, while chasing excitement, it is also necessary to strengthen risk awareness in order to stay forever.

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