The leading decentralized exchanges of the crypto world witnessed a rare upset at the beginning of March 2023, when a newcomerTMS Network (TMSN), eclipsed the industry giants dYdX (DYDX) and Uniswap (UNI) in popularity. For a full 24hr period, TMS Network’s (TMSN) mentions in search engines exceeded those of every other DEX. This development coincided with TMS Network’s (TMSN) conclusion of the stage 1 presale, which witnessed over $500,000 in token sales. Here’s how this news will affect different cryptos.
TMS Network (TMSN) is on a Roll
TMS Network (TMSN) has generated extraordinary buzz in the crypto industry. It’s the first DEX to offer forex and equity trading, besides crypto and CFDs, on its platform. TMS Network’s decision to offer fiat assets marks a huge milestone in the DEX world. TMS Network is also introducing crypto users to advanced features and solutions. With smart contracts and strategy builders, TMS Network is allowing developers to build advanced trading apps to help their users maximize their gains. TMS Network users also benefit from built-in features like on-chain analytics, social trading, and other advanced features.
All of these features have won the confidence of retail and whale investors, who have poured half a million dollars into TMS Network’s development. The stage 2 of the presale will be opening soon, so crypto users have been waiting with bated breath for the same. Frenzied potential investors researching the TMS Network have pushed the platform’s popularity to record levels.
dYdX (DYDX) is Losing Steam
dYdX (DYDX) is a newcomer in the crypto industry. With an ICO as recently as 2019, dYdX was launched to offer superior terms and services to crypto users than what they were used to. In fact, dYdX managed to raise over $10 million in seed funding two years before the ICO. Clearly, trust in dYdX’s promise was high. dYdX promised non-custodial decentralized trading to users. dYdX offers spot trading, margin trading, and derivatives trading. Users of dYdX can also lend and borrow crypto for a variety of purposes. dYdX also brought its own several little innovations. Perpetuals, dYdX’s version of futures, do not carry any expiry date. Users also enjoy up to 25x leverage on synthetic assets. Most importantly, dYdX users zero-knowledge rollup to give its users an extreme degree of privacy.
For a while, dYdX had everything going great for it. However, dYdX’s order book architecture has not been as effective and efficient as the automated market maker (AMM) technology used by other cryptos like Uniswap and TMS Network. So, dYdX’s popularity has been waning.
Uniswap’s (UNI) Dominance is Now Challenged
Uniswap (UNI) continues to be the dominant DEX in the crypto world. Uniswap V3 enjoys the lion’s share of liquidity among all DEXs. In fact, Uniswap’s daily transaction volumes are so big that other DEXs like dYdX pale in comparison. However, if TMS Network’s popularity on search engines is anything to go by, investors have expressed a strong liking for its features and value to the detriment of Uniswap. Although it’s too early to write off Uniswap, there’s no doubt that the DEX will face stiff competition from TMS Network in the coming months. Whether Uniswap will be able to evolve fast and offer superior services than TMS Network remains a possibility, albeit an unlikely one.
Presale: https://presale.tmsnetwork.io
Whitepaper: https://tmsnetwork.io/whitepaper.pdf
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetworkio
Discord: https://discord.gg/njA95e7au6
Twitter: https://twitter.com/tmsnetworkio
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
