The decentralized Alcor Exchange will be happy with the increased gaming activity on the Wax blockchain. The decentralized exchange, or simply DEX, has seen the number of active wallets increase more than 90% over the past 30 days.
Decentralized exchanges generally earn from a trading fee on every trade. Alcor Exchange has doubled its number of transactions to 2.77 million in the past month. This number doesn’t only include trades, but also adding or removing tokens from a liquidity pool. During that period the exchange has seen $2.21 billion worth of tokens flow through its smart contracts.
This impressive amount of value is an achievement on its own. While Alcor now transacts more than $70 million per day, the DeFi protocol only had $3 million per day back in May. This growth in value comes from increased token prices, as the native WAX token had quintupled in price from $0.15 in May to its current $0.75 price tag.
Looking at the most popular trading pairs, the influence of gaming is also clearly visible. Back in May the exchange had TLM, the native Alien Worlds token, as the main attraction. Nowadays we see various tokens from Farmers World, the MARTIA token from Colonize Mars, VOID from the Onessus Game Studio ecosystem, and TOCIUM from Train of the Century. While Alien Worlds and their TLM are currently seeing a revival.
Not all tokens are exclusive to the Wax blockchain, as for example TLM also exists on BINANCE Smart Chain. You can trade TLM through our Token Swap feature.
Wax growing across the board
As an ecosystem, Wax is thriving. The success and increased popularity of play-to-earn gaming brings audiences to various services. NFT trading on Atomic Hub has increased 291% in the past 30 days to more than $148 million. Games like Farmers World and Alien Worlds remain in the top of the DappRadar Rankings, while there’s increased activity in crypto trading on Alcor Exchange.
Alcor Exchange supports a variety of blockchains aside from Wax, including EOS and Telos. However, thanks to the rise of play-to-earn gaming the exchange has seen its market share grow on the Wax blockchain. Like any other DEX it allows users to swap tokens straight from their wallet. Users can provide liquidity for trading to the DEX in exchange for rewards.
