ZyberSwap Sets the Bar High with Lifetime Volume Reaching $230 Million
By
Soumen Datta
March 7, 2023
2
MINS
ZyberSwap, a decentralized exchange (DEX) based on the Arbitrum blockchain, has achieved a lifetime volume of $230 million. Presently, the volume stands at $214.93 million, with $26.97 locked up in ZyberSwap V3.
A Milestone for ZyberSwap
Arbitrum blockchain-based Decentralized Exchange(DEX), ZyberSwap, reached a lifetime volume of $230 million on March 5, with a noteworthy $40 million generated in just six days since the launch of its latest version, V3.
According to data from Defillama, the current volume stands at $214.93 million, with $107.47 million locked in the Zyberswap platform, $46.63 million in ZyberSwap AMM, $33.86 million in ZyberSwap stable swap, and $26.97 million locked in ZyberSwap V3.
ZyberSwap DEX was launched on Arbitrum on January 23 with Zyber-USDC pair. The protocol has also made its yield farm live, providing WETH/USDC, WBTC/USDC, and USDT/USDC trading pairs. ZyberSwap launched V3 Concentrated Liquidity on February 27 on 1 inch distributed network protocol.
With the V3, liquidity providers can concentrate their liquidity within a specific price range, increasing capital efficiency and reducing impermanent losses. In addition, the V3 ensures a higher APR and a reduction in $ZYB emissions. As of press time, ZyberSwap native token, $Zyb is trading at $4.87 with over 10,000 holders.
What is ZyberSwap:
Zyberswap is one of the first decentralized exchanges (DEX) with an automated market-maker (AMM) on Arbitrum. According to its website, Zyberswap offers low crypto asset swapping fees and some of the most ‘lucrative’ rewards for staking and yield farming.
ZyberSwap has been audited by Solidproof and is part of Solidproof’s incubator program. As a result, Zyberswap has access to Solidproof’s expertise as well as KYC and auditing for new projects.
Learn more about ZyberSwap:
Website | Twitter | Discord | Telegram
Author
Soumen Datta
Soumen Datta
Soumen is an experienced writer in cryptocurrencies, DeFi, NFTs, and GameFi. He has been analyzing the space for the last several years and believes there is a lot of potential with blockchain technology, even though we are still at an early stage. In his spare time, Soumen enjoys playing his guitar and singing along. Soumen holds bags in BTC, ETH, BNB, MATIC, and ADA.
