Decentralized exchanges (DEX) Uniswap and CurveFinance recorded lifetime high trading volumes over the weekend as traders rushed to exchange token holdings, specifically USD Coin ($USDC). By shauryamalwa
Decentralized exchanges Uniswap and Curve recorded lifetime high trading volumes over the weekend as traders rushed to exchange token holdings, specifically USD Coin .
DEXs rely on smart contracts instead of middlemen to provide financial services, such as trading, lending, or borrowing, to users. Users deposit their tokens to pools to provide liquidity to the platform for rewards – typically a cut of fees paid by traders who use these services. This generated over $8 million in fees for the Uniswap protocol, adding to Uniswap Labs’ revenue and a smaller percentage paid out to liquidity providers.Circle Internet Financial's USDC stablecoin massively depegged from its intended $1 price on Friday night after Silicon Valley Bank , where Circle parked over $3.3 billion in treasury assets, was shut by regulators.
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