WaultSwap Looks to Become Dominant Multichain DEX, Inching Past QuickSwap

As market volatility disrupts the crypto industry, Wault Finance continues its forward momentum.

By
John Tunney
on
June 25, 2021
Category:
BSC News

A Multi Chain DEX

Wault Finance reported that they have landed once again within the top 10 decentralized exchanges (DEX) for 24 hour trade volume, across all blockchain exchanges.  What’s even more remarkable is the Wault Finance Polygon DEX, which just recently launched, has placed 11th for largest 24 hour trading volume. The incredible feat was reported on June 23rd, following WaultSwap’s $WEX falling 45% over the last 7 days. WEXPOLY, which is WaultSwap’s Polygon token, has also been down in price over the last 7 days, falling 62%. While token prices are plummeting the team continues to innovate and push forward.

Source

What’s remarkable, even as the price of WEX and WEXPOLY are sliding with the rest of the crypto industry, the tokens corresponding platforms have “sandwiched” Quickswap, a very popular DEX on the Polygon blockchain network. Many consider Quickswap the go-to DEX on the Polygon network, so to have WaultSwap Polygon trailing right behind the DEX, it shows tremendous potential for the WaultSwap Polygon DEX.

Although the huge trading volume is great to see for the Wault Finance platform, the Wault Finance team has seen a lot of action in addition to the large trading volume. First, the protocol announced that they now have over 40,000 WEX holders. 

Source

Not only that, but the Wault Finance team has seen their deflationary mechanism work wonders, as the protocol had a large daily burn of 8,582,113 WEXPOLY, equivalent to $102,00 USD, and 5,294,117 of WEX, equivalent to $90,000 USD. 

As the market tumbles a bit, it looks as if Wault Finance has found a new home in the exchange marketplace, predicated upon a growing desire for the platform from crypto investors.


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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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