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The Core DAO Layer-1 blockchain has seen a lot of development since the mainnet launch on January 14. The promising network provides developers with a safe, adaptable, and decentralized ecosystem supported by the Satoshi Plus Consensus algorithm.
The network is continuously developing and has generated some ground-breaking innovations, most notably Decentralized Exchanges (DEX). However Core DAO has started a bounty program designed to draw all kinds of decentralized enterprises, like GameFi constructors, into its ecosystem.
We will examine the Core DAO DEX sector and identify the leading protocols driving the market while we await the arrival of a number other ecosystems. The integration of the Core network into its ecosystem by the top DeFi aggregator, DefiLlama, allows users to track Core protocols. To determine the top five Core-based DEX in light of this, BSC News will make use of DefiLlama’s statistics:
1. LFGSwap
The most popular DEX on the Core chain is LFGSwap. The Total Value Locked (TVL) for the protocol is greater than $5,000,000. With the support of its native $LFG token, LFGSwap enables users to generate passive revenue through innovative reward-making techniques including farming and staking.
The LFGSwap ecosystem also includes a Non-Fungible Token (NFT) market, an Initial DEX Offering (IDO) Launchpad for farms, and its own native NFT collection in addition to the DEX capabilities (Wolf of Wall Street).
The protocol just released its Wall Street staking product, which allows users to stake LFG and receive LFG in higher Annual Percentage Rates (APR) with no risk.
2. ShadowSwap
The second DEX on Core DAO by TVL is called ShadowSwap. Over $3,800,000 is the TVL for the protocol. Based on Automatic Market Makers (AMM), ShadowSwap is supported by its $SHDW token.
The protocol features a complex ecosystem that includes the launchpad for ShadowPad, Shadow Puppets NFTs, and other components. In the future, the DEX will also introduce more products, such as an NFT DEX.
3. IcecreamSwap
With a TVL over $574,000 on the L1 blockchain, IcecreamSwap DEX is a multi-chain platform that supports the Core chain. The protocol entered the blockchain sector before joining the Core ecosystem by launching the first exchanging service on the Bitgert (Brise) network.
IcecreamSwap provides customers with access to a variety of DeFi services, including as liquid staking, staking pools, and a cutting-edge token locker to safeguard Core aficionados.
The DEX most recently introduced its first $ICE Core staking pool. IcecreamSwap’s native asset is $ICE. Users on the Core mainnet can wager $ICE to receive FSXM via FlashXMax.
4. ArcherSwap
Another DEX on Core that has lately attracted attention is ArcherSwap. Although the protocol’s TVL has not yet surpassed $50,000, it is interesting to observe its quick development. The DEX’s TVL has surged over 900% in the previous seven days since its March introduction.
Users of ArcherSwap can take advantage of both conventional DEX capabilities, such as a launchpad (Bowpad), and cutting-edge Multisender products, which let users transmit Core-based tokens to numerous recipients.
The native $BOW token will soon launch once the protocol gets ready. On March 13 at 12 UTC, the IDO will become live on the Bowpad.
5. CoreSwap
The Core chain-based DEX CoreSwap provides customers with standard decentralized services including trading, farming, staking, and staking. The protocol’s limited ecosystem is partly to blame for its TVL of less than $10,000.
The highlights of the protocol are as follows:
The Core DAO DEX ecosystem has a TVL of $9,178,918 according to DefiLlama. Yet, over the past week, the number has decreased by 15%. BSC News anticipates that as more protocols are added to the network, the TVL will soon rise. Moreover, the Core DAO S-Prize DeFi competition will ultimately have a significant impact on the network’s TVL.
What is Core DAO?
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.
