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The Decentralised Exchange (DEX) is the most secure way of trading or investing in cryptocurrencies. Being completely decentralised, you have to connect your wallet to the DEX before you are able to purchase any coins. However, as comes with the territory in blockchain, with great decentralisation comes great limitations.
Uniswap’s (UNI) rise to ascendancy
Uniswap has become the largest player in the DEX scene with the largest trading volume of any decentralised exchange by over a factor of 3. However, Uniswap, which is built on the Ethereum blockchain and has a native DEX for ERC-20 tokens (coins built in the Ethereum ecosystem), reported the same scalability issues as its parent network.
Like any DEX, Uniswap's gas fee is an Ethereum footprint. Simply put, Uniswap uses Ethereum gas fees for all purchases made on the exchange.
While Ethereum is undoubtedly the king of DeFi (decentralized finance), these transaction costs spill over into its system with a domino effect on the tokens built into its ecosystem, i.e. UNI.
Despite having the highest trading volume of any DEX, these inherent problems may pose a problem for further adoption and ultimately the longevity of the exchange itself. However, it is very true that UNI will likely share in ETH's success. The arrival of ETH 2.0 is just around the corner and should provide a solution to Ethereum's high and unpredictable gas fees. It should only be noted that the exchange is limited by the lack of interoperability with other blockchains and ecosystems.
Curve Finance, what it is and what it indicates.
CRV is Curve DEX's native currency that acts as a governance and utility token. It is as a DeFi stable coin marketplace giving the lowest Ethereum gas fees and the lowest slippage (difference between assumed transaction cost and actual cost) despite being built on the ETH network.
Curve Finance has a total value locked (TVL) of $17 billion, yet a market cap of less than $1 billion. Currently trading at just above $2 dollars with a local high of $6.50, CRV offers an exceptional long-term investment opportunity with possibly life-changing returns. A 10x from here is more than likely in the next bull cycle and CRV should certainly be on your shortlist radar.
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