The latest news, updates, and development on decentralized exchanges, otherwise known as DEXs.
Crypto asset management firm Ikigai ‘caught up in the FTX collapse’
The firm will continue to trade assets that are not trapped on FTX, despite uncertainty regarding the "timeline and potential recovery for FTX customers."
DEX trading volumes spike as users leave CEXs en masse
The market crisis caused by the FTX fallout put the security of user funds into question and could have pushed retail traders away from centralized exchanges.
KuCoin CEO addresses rumours surrounding FTX, FTT exposure
Johnny Lyu, KuCoin's CEO, attests to the transparency of the exchange, discloses KuCoin holdings, and denies FTX, FTT exposure
BNB surges 20% in 2 hours after news of Binance’s planned acquisition of FTX, but plummeted later
Based on the current FTX situation, the Binance CEO also predicted that FTX's FTT would be extremely volatile in the near future.
Sushi DAO approves proposal to evolve into 3 legal entities
Sushi's new legal structure will include a Cayman Island-based DAO foundation, a Panamanian foundation, and a Panamanian corporation.
Financial web3 project userbases decline; blockchain gaming has 5x user retention versus web2
According to on-chain data compiled by Cluster the majority of web3 projects saw a decline in YoY user growth. Yet - web3 gaming records better user retention than the average web2 games
USDC, Axelar’s new protocol has bridge-free cross-chain swaps; does away with bridged tokens
Cross-chain swaps can now be routed through USDC and transferred via CCTP to a new chain without the need for a traditional web3 bridge
Mango Markets DAO set to approve $47 million bounty for hacker
Under the proposal, the hacker will return up to $67 million and keep the remaining $47 million as a bug bounty.
What Features Differentiate the Top Perpetual Futures DEXs?
In the financial system, a perpetual futures contract, also known as a perpetual swap, is a transaction representing an agreement to buy or sell an asset at an unspecified point in the future. It also allows users to trade using margin or leverage (using borrowed funds).
Sushi price rises 6.6% following $5.3M investment from GoldenTree
SUSHI spiked 6.6% in the last 24 hours, according to CryptoSlate data. The digital asset has been able to maintain a positive price performance over the last seven days, rising 24.4%.
GMX DEX spikes 35% as Binance, FTX announce listing
GMX token gained wide popularity in early September when its value rose above the $50 mark during a period when the broader market was trading flat.
Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports
Elliptic stated that over $3 billion was laundered through decentralized exchanges.
Transit Swap hacker returns $16.5M of stolen funds
Joint efforts of top security firms have lead to the hacker returning 70% of the $21 million stolen from Transit Swap's smart contract exploit.
Uniswap Labs rumored to be raising $100M in funding at a $1B valuation
Techcrunch reported that Uniswap Labs is being valued at $1B ahead of a proposed new $100M funding round
Crypto trader exploits GMX, manipulates AVAX price to remove $565K
An opportunistic crypto trader leveraged GMX's zero slippage design to move AVAX's price in a long and short position for five consecutive trades.
Crypto community lambasts dydx’s new facial verification requirement
Industry stakeholders reacted negatively to dYdX's verification requests, with some suggesting that the exchange was acting on regulators' instructions.
Solana-based DEX OptiFi loses $661,000 permanently after mistakenly closing program
OptiFi said it used the "Solana close program" without fully understanding the impact of the action.