DeFiLlama’s New DEX Aggregator Surpasses Metamask In 24h Trading Volume

Key Points:

• The most popular application presently being tracked by 0x is the new DEX aggregator by DeFiLlama.
• DeFiLlama is currently pushing towards decentralized finance.
• What really sets the aggregator apart is that the platform is launched without incentives like a liquidity mining program.

Despite being newly launched, DeFiLlama’s liquidity aggregator DEX has surpassed both Metamask and Matcha in the past 24 hours in terms of the trading volume.

The most popular application over the last 24 hours, according to the 0x platform that aggregates liquidity across most of the top DEXs, was the new decentralized exchange aggregator from data analytics platform DeFiLlama, which minimizes transaction costs for swaps.

DeFiLlama has slowly become one of the most popular data platforms in the crypto world and is currently driving the DeFi sector. DeFiLlama’s liquidity aggregation protocol, called DefiLlama DEX aggregator, is currently still in beta but has shown promising signs since its launch earlier this week.

1/ Congrats to @defillama on the successful beta launch of their aggregator!

We’re excited that they’re tapping into the best of 0x Swap API to access liquidity and pricing from our 70+ exchanges.

Moreover, DeFiLlama hit the top spot on 0x Explorer today

— 0x (@0xProject) January 4, 2023

The aggregator also helps users to transact privately by routing transactions through their own servers and does not store IP data. Besides, what makes the DefiLlama DEX aggregator really different is that the platform is launched without incentives like liquidity mining programs.

Eliézer Ndinga, research director at 21.co commented that because there is no LP mining program and other incentives, the DEX aggregator still enjoys great interest from users, showing that they are looking for a platform that can affect the ability to accurately analyze data for their research and trading purposes. And this is also considered the first successful step of the project when touching the real needs of users.

Impressive launch @DefiLlama and @0xngmi without any LP mining program and other incentives.

Why? One thing is clear — users want a platform with data analytics, form their own opinions, and act on them with a click of a button. pic.twitter.com/RCvRthUgKy

— Ξli (@elindinga) January 4, 2023

According to DeFiLlama, it enables consumers to compare swap prices from eight other aggregators and choose the best deal. The aggregator offers integrations with most EVM-compatible chains and doesn’t charge consumers. By routing transactions through its own server, which does not record IP information, the aggregator also enables users to conduct transactions in privacy.

Many other DEXs on the market have turned to liquidity mining schemes over the past two years to try and gain users. However, that model is not conducive to long-term growth and sustainability. DeFiLlama took a different approach, first developing a free data usage platform and then launching DeFi applications once it had a strong initial user base.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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