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  2. Cryptocurrency Ecosystem
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  4. Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It

Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It

oliverchloe
2022-10-21 11:54:29

A vampire protocol has driven Uniswap to the top of the decentralized finance (DeFi) charts.

As of roughly 21:00 UTC, the automated market maker (AMM) has $1.65 billion in total value locked, according to DeFi Pulse, unseating lending platform Aave.

Sources with knowledge of the situation tell CoinDesk this is driven largely by a new Uniswap competitor, SushiSwap. One of the newer members of the Weird DeFi cohort is predicated on giving rewards in perpetuity to holders of its sushi (SUSHI) token.

Post Reply  
AndreasMAntonopoulos
2022-10-21 11:54:59
Uniswap exchange really took over the cryptospace with various trading tokens hitting tens of thousands within few weeks. unfortunately high gas fee often accompanied while executing a trade is one big turnoff for many investors while the high risk takers, took up the challenge.