Uniswap may have a solid competitor which has the backing of Lido Finance Although UNI active addresses are around the same zone, development activity is at its peak Uniswap’s [UNI] status as the top Automated Market Maker (AMM) could be at risk after a certain Maverick protocol announced a partnership with Lido Finance [LDO]. Like […]
also registered incredible volumes, it has remained difficult to boot the Hayden Adams-led project off its peak.
In fact, the protocol was the go-to AMM for most investors during the FTX contagion as users scrambled for asset safety on DEXs. Nonetheless, Maverick’s collaboration with Lido Finance still poses a threat. A notable part that could foster competition for Uniswap is Lido’s dominance of DeFi Total Value Locked . At press time, Lido’s five chains wereit maintain the top spot. Here, the TVL generally indicates the aggregate amount of assets in a liquidity pool.
However, Uniswap is nowhere near Lido in this regard. While Lido’s 30-day TVL saw a 6.20% hike, Uniswap fell by 3.78%. And, with over $5 billion in difference, it could be difficult for the latter to catch up.showed that the yields of the collaboration may already be here. This, because Maverick protocol had jumped into the top-10 DEXs under the Ethereum blockchain. However, with a weekly change of -13.58%, it could still be a hassle to catch Uniswap with a $ 6.58 billion seven-day volume.
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