Cumulative trading volume on StarkEx reaches $1 trillion

Cumulative on-network trading and swaps on the StarkEx decentralized exchange and compatible applications have reached $1 trillion since its launch in June 2020.

*$1T* cumulative trading volume; it’s so simple

Secure
Seamless UX
Self-custodial
Battle-tested
Low-cost
Efficient

This is StarkEx.

This is how you scale Ethereum. pic.twitter.com/T0cj3RuBe5

— StarkWare (@StarkWareLtd) June 29, 2023

According to the developers, the bulk of the amount is accounted for by the DEX DEX dYdX. The team at StarkWare noted that other applications, including ImmutableX, Sorare and Rhino, have also made a substantial contribution. 

According to the project’s site, the total value of assets locked in StarkEx stands at $532 million. Since launch, users have completed 458 million transactions and minted 113 million non-fungible tokens. 

«We have built an infrastructure that supports the most complex and user-friendly blockchain applications,» said co-founder and chief executive Uri Kolodny.

StarkWare positions the trading platform as a SaaS-solution for scaling the Ethereum network. The project also has its own layer-2 network — StarkNet.

In December 2022, payments giant Visa used StarkNet in a proof-of-concept for automated and programmable payments.

In February 2023, the StarkWare startup expanded its collaboration with the Chainlink decentralized oracle network to speed up the adoption of the L2 solution.

Later, the project team presented a roadmap focused on performance and user experience in 2023, and in the following year on decentralisation of operations and decision-making. Analyst Colin Wu saw signs in the document of preparation for a utility-token launch and an airdrop.