Governance tokens explode the DEX market? In the first half of 2020, DEX trading volume increased by 500% year on year

Decentralized trading platforms have a huge impact on the DeFi ecosystem and the Ethereum blockchain. Therefore, this article will evaluate the development of head decentralized trading platform in the second quarter of 2020, focusing on the transaction volume, the number of transactions and the most traded assets.

In Q2 of 2020, DEX's trading volume and number of transactions hit record highs.In the second quarter of 2020, trading volume and number of people increased by 54% and 37%, respectively, compared with the same period last year. The emergence and outbreak of governance tokens COMP and BAL were the main reasons for this increase.The top eight ranked DEX had $3 billion in trading volume in the second quarter of 2020 and had more than 5,000 active wallets per day in June.While most DApp transactions have soared due to the popularity of tokens, many DApp are still struggling due to ethereum's high gas charges.

2020 is a key year for ethereum and DeFi, thanks to the decentralized trading platform ecosystem. Overall, turnover rose 54 per cent month-on-month. Uniswap has maintained its leading position with a 109% increase in trading volume to $900 million, representing 30% of total trading volume in the second quarter of 2020. Curve had a good performance in the second quarter of 2020. COMP's addition triggered a 210 percent increase, or $426 million. Balancer's trading volume also soared to nearly $100 million in the second quarter of 2020, largely due to its BAL token management.

In contrast to Uniswap, Oasis and Kyber saw transaction volumes decrease by 42% and 13%, respectively.Oasis has not recovered from the 312 incident, with both volume and number of traders falling.

The number of top 8 DApp traders increased by 37% in q2 2020 compared to q1 2020, and the number of active wallets exceeded 5,000 in June 2020.The biggest increases in active wallets came from IDEX, which grew by 550, and Kyber, which grew by 300. Curve's trading volume and number of transactions have skyrocketed, with daily active wallets up 92% in the second quarter of 2020.

In The fourth quarter of 2019, The Maker system upgraded DAI for multiple mortgages, SAI migrated to DAI. Since the second quarter of 2019, DAI growth has been impressive. DAI-WETH trades the most in the second quarter of 2020, with a trade volume of $525 million.

In the second quarter of 2020, the top eight DEX currency pairs most traded were mainly stabilizers. Through the -USDC, WETH-DAI, USDT-USDC and WETH-HEX as the trade volume is increased by 150%, 183%, 63%, 116%, 100% and 100% respectively in the second quarter of 2020 compared with the first quarter of 2020. The big impact of q2 2020 was MakerDAO's announcement of USDC and USDT as new collateral in March and June, respectively, which increased trading volumes.

According to DappRadar data, Uniswap is the number one application in the DEX category. In the second quarter of 2020, trading volume was nearly $900 million, an increase of 109% over the first quarter of 2020 and 624% over the second quarter of 2019. In the more-dai and wing-UBT WETH up 18%, 11%, 10% and 4% respectively in the second quarter of 2020, with the biggest influence on the total trading volume.

Kyber's trading volume is down 13% from the first quarter of 2020 and up 220% from the second quarter of 2019.With the wildest -DAI, USDT and UBT through the most traded through Kyber with a total of $353 million in the second quarter of 2020, the WETH is up 19%, 16%, 13% and 4%, respectively.

IDEX outlined the growth in its May report. The total value of transactions in the second quarter of 2020 tripled from the first quarter, up 144%.The biggest trade in IDEX in the second quarter of 2020 is WETH-UBT, which accounts for 19% of the total trading volume. Microsoft and Ernst&Young participated in the Baseline Protocol and contributed to the increase in the price of scrip. Through -USDC, WETH-DAI and -USDT transactions contribute less to the total volume of trade.

Curve was released in the first quarter of 2020, increasing 210% in the second quarter of 2020 compared to the first quarter of 2020.DApp's total turnover was about $426 million. The most significant trading pairs were USDT-USDC and USDC-DAI, accounting for 44 per cent and 20 per cent of the total, respectively.

The number of community members has skyrocketed since 0X was introduced in July 2019. Total transactions in the second quarter of 2020 almost doubled from the first quarter of 2020 to $347 million.The wildest -USDT, USDC, DAI, USDC-Dai and USDT-USDC account for 44%, 16%, 13%, 5% and 4% of the trade volume respectively in the second quarter of 2020.

DYdX is one of the fastest growing dapps in the Ethereum DeFi ecosystem.It has grown every quarter since its launch in the second quarter of 2019. In the second quarter of 2020, DApp's revenue reached nearly $433 million. 2020 is a critical year for dYdX, with a 30% increase in q2 from q1 2020. The higher-ranked transactions are, WETH-DAI, and USDC-Dai, accounting for 44%, 32%, and 9% of the total volume, respectively.

Oasis had total revenue of $167 million in the second quarter of 2020. That's down 42 percent from the first quarter of 2020.DAI has played an important role in launching deals on many global trading platforms and on the DEX. The WETH-DAI and USD-DAI transactions account for 74% and 19% respectively.

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