Serum, a Solana based decentralized exchange launched by popular cryptocurrency exchange FTX, went live on 30th August. The launch of decentralized exchange from FTX comes at a perfect time, give the truly decentralized products and services are seeing an ICO like boom, be it decentralized Exchanges or Defi tokens.
The newly launched Serum exchange would offer eight markets, namely Bitcoin (BTC), Ethereum (ETH), SRM, and MSRM. Each of the markets would be paired against USDT and USDC.
Just like the Defi ecosystem, which reached its first milestone in the first quarter of 2020 with over a billion locked in Defi tokens, even DEX has managed to show phenomenal performance. Data from Dune Analytics suggests that DEXs have managed to generate a combined trading volume of $10.42 billion in just the last 30 days.
If we compare the trading volume from DEX protocol from a month ago in July, the figure has more than doubled last month. In July, the combined trading volume of DEX protocols were $4.3 billion.
Most of the trading volumes came from two prevalent DEX protocols, namely Uniswap, whose trading volume has surpassed many mainstream crypto exchanges. Uniswap recorded a $1.7 billion volume in the last seven days itself and around $430 million in the past 24 hours. Uniswap contributed 60.6% of the overall volume generated by DEX protocols in August. Curve, another popular DEX protocol, contributed 18% of the total DEX volume in August.