CandleFocus Instadapp’s Fluid DEX Takes on Uniswap in DeFi
2024-11-19
Author: Content Editor
Instadapp CEO Sowmay Jain believes that Fluid, a DeFi protocol developed by his company, is a strong competitor for Uniswap. Jain highlighted Fluid's achievements, stating that it has become one of the fastest-growing DEXs in DeFi. Fluid has ranked among the top DEXs on Ethereum by volume, achieving this with only three pools in just three weeks on the mainnet. Jain emphasized that Fluid's growth is organic, with users not receiving any extra rewards. He also noted that INST purchases have experienced significant growth. Despite these achievements, Jain considers Fluid to be undervalued compared to other projects with similar volumes. He predicts that Fluid's trading volume will increase with the launch of volatile crypto pairs. However, Uniswap remains the top DEX with a daily trading volume of $1.69 billion, presenting a challenge for Fluid to compete for the top position.
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