“OKX announces expansion into the United States and establishes regional headquarters in California”
“Binance CEO: We have contacted many countries to help develop crypto regulatory frameworks and help some countries build strategic reserves”
“Binance adds new fiat channel ZEN.com, supporting deposits and withdrawals of Danish kroner, Swedish kronor, and Swiss francs”
“Bitget launches on-chain rebate plan to achieve cross-ecological benefits between CEX and DEX”
"Gate.io releases limited edition F1 commemorative gift box for its 12th anniversary"
“Uniswap has reopened liquidity mining, and the APR is generally in the three digits”
This is the latest situation of the exchange. The gap is obvious. As the boss, Binance has been devoting some energy to "compliance" since CZ was arrested. The investment in Abu Dhabi is also a microcosm of this. After all, $BNB needs a place to cash out. Binance has recently made surprising moves in various aspects, such as using memes to boost BSC. For details, please see the previous article " BSC Ecosystem Leads Strongly: DEX Trading Volume Reaches a New High, Meme Wealth-Making Effect Explodes On-Chain Prosperity".
Since February, Binance has launched many new coins. The speed of launching new coins makes the outside world feel that it is competing with second-tier exchanges for the "downstream market". The following are the projects on Launchpool recently. The average airdrop reward is 0.92U, the highest reward is LAYER 3.55U, and the lowest is BMT 0.13U. On average, one project is launched every 5 days .
The number of fiat currencies supported by a crypto exchage mainly reflects three aspects: user convenience, market competitiveness and compliance . First, supporting multiple fiat currencies can provide users with more payment channels, reduce exchange troubles, and attract international users. For example, an exchange that supports the US dollar, euro, and yen can cover users in more countries and expand the market scope.
Secondly, the diversity of fiat currencies helps improve liquidity and attract more capital inflows, thereby increasing trading volume and stability. For example, exchanges that support multiple fiat currencies can better handle large orders, reduce price fluctuations, and enhance market competitiveness.
Finally, supporting multiple fiat currencies usually means that exchanges need to comply with regulatory requirements in different countries, such as anti-money laundering and know your customer (KYC) regulations, which shows that they are highly compliant, can gain user trust and expand the market. For example, exchanges that meet the regulatory requirements of the European Union and Japan can operate legally in these regions and further expand their business scope.
In short, the amount of fiat currency support is an important indicator to measure an exchange's user coverage capabilities, market adaptability, and compliance level.
The All-Time High Returns (ATH ROI) of an exchange’s Launchpad (initial exchange offering platform) is an important indicator of its profitability, reflecting the rate of return from the project’s initial offering (IEO) to its historical high. This data can reveal information in many aspects:
- Project screening ability of the exchange: An exchange with a higher ATH ROI usually means that its Launchpad is able to select outstanding projects. This indicates that the exchange's team has strong capabilities in project evaluation, due diligence, and market insights, and is able to provide investors with high-potential investment opportunities.
- Market heat and investor confidence: ATH ROI data can also reflect the market's enthusiasm for new projects and investor confidence. High returns are usually accompanied by high market activity and optimism, while low returns may indicate a cooling market or a lack of investor confidence.
- Attractiveness of exchange ecosystem: Exchanges with higher ATH ROI tend to attract more high-quality projects and investors to participate in their ecosystem. The success of high-quality projects not only enhances the reputation of the exchange, but may also bring more trading volume and user growth, further consolidating its market position.
- Balance between risk and return: Although a high ATH ROI indicates greater potential returns, it may also be accompanied by higher market volatility and risk. Investors need to combine other indicators (such as project fundamentals, market cycles, etc.) to fully evaluate the sustainability of the project.
According to the Launchpad data of exchanges in the past year, only Bybit has achieved a profit of 19.6% at present. Although Gate claims "fast listing of coins" and "more spot products", with the highest IEO reaching 362 projects, its profit is a terrible -61%; Bybit also has the highest ATH ROI, with a return rate of up to 1095.9% .
The spot rate is the fee paid by users when conducting spot transactions, while the contract rate is the fee paid by users when conducting contract transactions, which usually includes the opening rate, closing rate and funding rate. The rate directly affects the transaction cost of users. Low rates are more beneficial to high-frequency traders and large-volume traders, while high rates may inhibit trading activities.
The impact of fees on exchanges is mainly reflected in revenue sources and market competitiveness. Exchanges with low fees are usually more attractive and can attract more users and trading volume, but may affect short-term profitability; while exchanges with high fees may bring higher short-term profits, but may weaken long-term competitiveness. Exchanges usually dynamically adjust fees based on trading volume, market volatility or user level to balance revenue and user needs.
In addition, fees are closely related to market liquidity. Low fees can lower the trading threshold and attract more traders to participate, thereby improving market liquidity; while high fees may inhibit trading activities, especially when market volatility is low. A reasonable fee policy can not only improve user satisfaction and loyalty, but also help exchanges establish a long-term market position.
According to announcements from major exchanges, Bybit has the lowest fee rate .
Judging from the latest developments of these exchanges, except for Gate, which are all seriously engaged in business, Binance is the strongest and is strengthening and expanding in all aspects. Gate has recently been focusing on its 12th anniversary celebration. This exchange is the most special one here. It is not in any industry focus. It is said to be the "Foxconn of the crypto", but the results of the rollout are really ridiculous. There is not one item that is worthy of praise. Perhaps the only surprising thing is that "it has survived for 12 years."
I once asked a friend why it just didn’t make progress in its business?
" If I were the boss of Gate, I wouldn't have any pursuit. I'd just take advantage of celebrities every day, but I can't catch up with those in front of me. So I'd just muddle along like this. As long as the money I make doesn't decrease every year, that's enough ."
Now that we have written about the latest developments in CEX, let’s take a look at DEX. One thing that must be mentioned is that Uniswap has reopened liquidity mining, which is currently limited to 2 weeks (ending on April 29), and the annualized rate of return (APR) of the reward is generally in the three digits .
The incentive funds reached 24 million US dollars, opening $USDC/$ETH, $USDC /$USDT0, $ETH/$WBTC, $USDC/$WBTC, $UNI / $ETH, $ETH / $USDT0, $WBTC /$USDT0, $wstETH/$ETH, $weETH/$ETH, $rsETH/$ETH, $ezETH/$ETH, and $COMP/$ETH.
Phase 1: Starting on April 15, 12 funding pools.
Mining Guide:
Take the ETH-WBTC trading pair as an example: The logic remains the same, but the language form has been adjusted:
Cross-chain ETH : withdraw ETH from the exchange to the OP chain and cross it to Unichain through the Across Protocol. Across provides an efficient and low-cost cross-chain solution to ensure fast and secure asset transfer.
Cross-chain WBTC : withdraw WBTC from the exchange to the Ethereum mainnet and cross it to Unichain through Superbridge. Superbridge supports cross-chain operations of multiple assets, which is simple and fast.
Form LP : Provide liquidity for the ETH-WBTC trading pair on Uniswap. Novice users are advised to choose the full range, which is simple to operate and can effectively capture transaction fees; users with DeFi experience can choose a customized range to maximize the capture of transaction fees and improve efficiency by setting the range reasonably. Subsidy rewards are mainly calculated based on the contribution value of transaction fees, accounting for up to 98%.
Rewards viewing and claiming : Subsidy rewards can be viewed and claimed on Merkl . Merkl takes a snapshot every 3 hours, and users can view the reward status and claim the benefits at any time.
Through the above steps, users can efficiently participate in the liquidity mining of the ETH-WBTC trading pair, and use cross-chain tools to achieve rapid transfer and optimized configuration of assets.
USDT lossless cross-chain bridge: http://usdt0.to/transfer
USDC lossless cross-chain bridge: http://app.across.to/bridge
Funding pool link: http://app.uniswap.org/explore/pools/unichain…
In the universe of cryptocurrency, the competition between centralized exchanges (CEX) and decentralized exchanges (DEX) is a profound game about trust, power, and the future financial order. CEX and DEX are not just differences in technology choices, but the collision of two completely different belief systems in the crypto world.
CEX believes in efficiency and order . They believe that through centralized management and optimization, they can provide users with a convenient and efficient trading experience. This belief is deeply rooted in the logic of the traditional financial system, emphasizing the realization of market stability and user trust through centralized resource allocation and professional risk management. The driving force of CEX is to build a strong and controllable ecosystem to attract global users by providing diversified financial products, high liquidity and seamless user experience. Their future vision is to become the "bank" of the cryptocurrency world, find a balance between compliance and technological innovation, and provide users with a safer and more reliable trading environment.
DEX believes in freedom and sovereignty . They firmly believe that true decentralization is the soul of cryptocurrency, and users should have full control over their assets and transactions. This belief is a rebellion against the traditional financial system, attempting to break the centralized monopoly through technical means and give individuals more financial autonomy. The driving force of DEX is to promote the democratization of finance, allowing every user to participate in the construction of the financial ecosystem through mechanisms such as smart contracts and liquidity mining. Their future vision is a permissionless and borderless financial network in which trust no longer depends on institutions, but is guaranteed by code and consensus mechanisms.
This battle of faith is not only a battle of technology, but also a different interpretation of the nature of cryptocurrency. CEX pursues innovation and integration within the framework of the existing financial system, while DEX attempts to completely subvert this framework and build a new financial order . With the advancement of technology and the evolution of the market, this battle between centralization and decentralization will continue to shape the future of cryptocurrency.
