Crypto News

How To Overtake Uniswap? The 1-Trick That Most DeFi Projects Miss!

Uniswap is the world’s premier decentralized exchange and liquidity provision service, relying on an orderbook-less trading mechanism through liquidity pools. Since it’s introduction, it has facilitated billions in trading volume through it’s three iterations or version updates. It also constantly ranks as a leading revenue generating DeFi protocol, second only to the Ethereum base layer itself. Here’s how to overtake it and the description of the one trick that most DeFi projects miss.

Sovryn – a RSK side-chain based project with EVM compatibility recently discovered this trick, after the team claimed that they had overtaken the Total Value Locked (TVL) in Uniswap v3. The claim was viewed with skepticism / disbelief as the project is still new, relatively unknown and has no prior record of competing with Uniswap on any level.

It was also worth noting that just 24 hours ago, the protocol’s own statistics module reported a TVL of only $51M. Somehow, it suddenly started showing a $2B TVL figure first without any explanation (right image), directly counting numbers to arrive at a “value” and later by adding a mysterious column of “Bitocracy Staking Contract” (left image). So, how did this happen?