The StarkNet DEX, operating as a decentralized exchange on the Ethereum network, functions as a Layer 2 solution. Utilizing a permissionless decentralized validity rollup, or zk-rollup, it enables decentralized applications (DApps) to achieve limitless scalability for computations while upholding the composability and security of the Ethereum ecosystem.
Playing a pivotal role in StarkNet’s governance, the StarkNet Foundation was established to advance its vision. The foundation actively nurtures the StarkNet community, including users, developers, and researchers, overseeing ongoing network development and promoting StarkNet’s decentralization.
In November 2023, the StarkNet Foundation initiated a targeted program to foster DeFi growth on StarkNet. This initiative prioritizes liquidity provisioning, intending to allocate 40M STRK tokens over a span of six to eight months to participating DeFi protocols on StarkNet.
The top Decentralized Exchanges (DEXs) on StarkNet
1. mySwap
mySwap, a prominent Decentralized Exchange (DEX) operating on StarkNet, serves as a comprehensive DeFi hub. It seamlessly integrates DEX, NFT, and DAO functionalities, fostering MST through a range of ecosystem applications. Renowned for its intuitive interface and innovative Concentrated Liquidity (CL) model, mySwap enhances capital efficiency. It boasts the highest APR within the ETH-USDC pool, empowering users to easily rebalance their positions for optimized liquidity and improved earnings. Positioned within the crypto landscape as a DeFi platform built on OKExChain, mySwap distinguishes itself through its commitment to excellence and innovation.
2. SithSwap
It stands as an advanced Automated Market Maker (AMM) platform engineered for StarkNet. It delivers instant swaps for both volatile and stable assets with exceptionally low slippage and near-zero fees, all while ensuring the robust security of Ethereum¹. SithSwap boasts a comprehensive incentives framework, incorporating features like escrows, staking pools, gauges, bribes, and native $SITH emissions. Pioneering functionalities such as governable directional fees, integrated TWAP oracles, and efficient, low-slippage trades for correlated assets set SithSwap apart. With its dual-liquidity engine accommodating both volatile and stable swaps, SithSwap plays a pivotal role in providing the liquidity backbone for StarkNet protocols to thrive in a decentralized and sustainable manner¹. Boasting a significant trade volume of $340M and a user base of 143K, SithSwap emerges as a cornerstone of the StarkNet ecosystem, facilitating protocol launches, bootstrapping, and expansion.
3. Ekubo
It emerges as a cutting-edge Automated Market Maker (AMM) platform designed for StarkNet. With its distinctive features such as concentrated liquidity, singleton architecture, and extension capabilities, Ekubo empowers users to unlock new possibilities in trading. Through third-party extensions, users can create innovative order types, automated strategies, oracles, and more. Ekubo stands out for its super-concentrated liquidity, allowing orders to be placed with remarkable precision, resulting in unparalleled capital efficiency and precision. Optimized for StarkNet, Ekubo’s contracts boast lower fees and higher capital efficiency, setting a new standard in the AMM space on StarkNet and delivering enhanced execution for traders.
4. Paradex
Paradex stands as a high-performing Decentralized Exchange (DEX), renowned for its deep liquidity, capital efficiency, and minimal fees¹. It facilitates the trading of perpetuals, offering financial derivatives without expiration dates. With a 24-hour trading volume of $164,229,065, an open interest of $6,127,040, and a total value locked of $10,017,048, Paradex boasts substantial activity and user engagement. Built upon a robust infrastructure prioritizing scalability and resilience, Paradex emerges as a preferred choice for traders seeking efficient and cost-effective trading solutions. Its steadfast commitment to performance and user experience positions it at the forefront of decentralized exchange platforms.
5. Haiko
Haiko represents an innovative Automated Market Maker (AMM) protocol operating on Starknet, offering custom, modular strategies for automated market making¹. This platform empowers liquidity providers to explore, create, and refine personalized AMM strategies, effectively managing liquidity autonomously. Users benefit from Haiko’s comprehensive suite of tools, allowing for the development, backtesting, and iteration of new market-making strategies. Additionally, Haiko actively participated in the Starknet Foundation DeFi Incentives Program, launched on February 22, 2024. This initiative incentivizes productive Total Value Locked (TVL) growth on Starknet. With its pioneering approach to liquidity management, Haiko emerges as a distinctive entity within the DeFi landscape.
6.10KSwap
10KSwap stands as a decentralized exchange (DEX) within the cryptocurrency domain, offering secure and transparent trading solutions. As the pioneering open-source Automated Market Maker (AMM) on Starknet, it leads the way in the ecosystem. Its enhanced iteration, 10K DEX, boasts a unique multi-asset pool, ensuring robust trading depth and liquidity. Supporting both market and limit order trading for spot and perpetual contracts, 10K DEX strives to broaden its reach across multi-chain marketplaces, including platforms like zkSync Era, Scroll, and Starknet. This underscores their dedication to a comprehensive cross-chain liquidity trading approach for the future.
Conclusion
In conclusion, the leading decentralized exchanges (DEXs) on StarkNet are revolutionizing decentralized finance (DeFi) by offering innovative solutions for liquidity provisioning and trading efficiency. Supported by the StarkNet Foundation’s proactive initiatives, these platforms are driving adoption and shaping the future of DeFi on StarkNet. Together, they represent a dynamic and inclusive ecosystem poised to redefine the global financial landscape.
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Princy Agarwal, a postgraduate in English from Delhi University, writes content for Tricky Finance, where they simplify complex financial topics for readers. With a knack for clear communication, Princy’s work helps make finance understandable and accessible to all.
