ON-367: DEXs Part 1 🔀
Coverage on Sector Update, Velodrome, Dragon Swap, Shadow Exchange, Ekubo
📝 Editor’s Note:
Welcome to OurNetwork’s latest on decentralized exchanges.
Leading off, we have our friends at Token Terminal providing an overview. Oğuz covers Velodrome’s by chain dynamics, Jelena digs into DragonSwap, Sei’s leading DEX, and Oluwole checks out Shadow Exchange and its token mechanics. Last but not least, Alex checks out Ekubo’s surprising momentum facilitating trades of on the USDC-USDT pairs.
The chains never sleep. Let’s get to it.
– ON Editorial Team
Sector Update | Velodrome | DragonSwap | Shadow Exchange | Ekubo
👥 Token Terminal | Dashboard
📈 Onchain Trading Activity at All-Time High, With Concentration of Chains & DEXs powering ~80% of Trading Volume
DEX activity is at an all-time high as quarterly trading volume surpassed $1 trillion in Q2 2025. DEX trading volume is up ~100% year-over-year.
