4 ms·
Decentralized exchange Uniswap tops $2T in all-time trading volume
- pavlov 3y agoThis is hosted on Ethereum which got rid of Proof-of-Work. Now it’s just a slow shared database controlled by a clique. It’s pretty easy to generate trillions of trading volume on a database when there’s no penalties for wash trading. All it takes is a for loop.
- uLogMicheal 3y agoTransaction fees prevent this sort of behavior. Better to learn than to bash...
- pavlov 3y agoAnd who collects the transaction fees? The same people who benefit from the illusion of trading volume. It’s a rigged game around the world’s worst stored procedure database presented as some sort of magical truth machine.
- xk_id 3y agoYou’re awfully convinced about something you can provide 0 evidence for.
- uLogMicheal 3y agoThis is my first time seeing the claim that the miners run the decentralized and centralized exchanges across all blockchains...
- bryceneal 3y agoNot only network transaction fees but slippage, front-running, LP fees. I'm not saying that wash trading doesn't occur in DeFi, but Uniswap would be one of the more inefficient places to do it. So which is more likely? 1. Uniswap Labs, a Delaware C Corp based in NYC, is risking everything to burn millions or billions of dollars in order to place fake trades and bolster volume numbers. 2. Uniswap, the top on-chain exchange on Ethereum (a network where the primary use-case is creating and trading assets, and which has an ecosystem market cap of something like $800B) has over the course of over 5.5 years, done $2T in all-time volume (~1 billion / day on average)? Occam's razor says 2.
- leeeeeepw 3y agoAlso shameless plug see $netw AI character token on uniswap :D
- techmeme-23 3y agoFixed link: https://www.techmeme.com/240407/p1#a240407p1 https://www.techmeme.com/240407/p1#a240407p1