Success in DEX? Fast-growing crypto exchanges may hurt DeFi investors
Cointelegraph
Published Jul 16, 2021 09:07AM ET
Updated Jul 18, 2021 11:40AM ET
With the rise of various meme-coins over the last year or so, a whole host of decentralized exchanges (DEXs) have continued to emerge and accrue massive sums of liquidity seemingly overnight. As a result, a number of security firms have started to call into question over the recent weeks regarding the overall security and transparency of these platforms.
For example, DEX ShibaSwap, which has been able to capitalize on the budding popularity of the style of Dogecoin (DOGE) with native token Shiba Inu (SHIB), was recently able to accrue a total value locked (TVL) of more than $1 billion within a day of its launch. This calls into question the DEX’s liquidity quotient, especially since the protocol’s design was given low marks by platform reviewer DeFi Safety.
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Written By: Cointelegraph
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