How many Uniswap type AMM projects you can name?
No, not Bancor or Balancer but the ones that launched after Uniswap v2. This questions just came to my mind and I wanted to test myself by giving the next 2 minutes to recollect some of these projects.
The first that comes to my mind is obviously SushiSwap. (BTW, I'd like to thank SushiSwap for the UNI airdrop 😜).
Okay, let's forget about several food-themed clones launched immediately after, on the Ethereum chain. But how about the ones that tried to improve upon current model albeit slightly?
No doubt, owing to high Ethereum gas fee, low gas / transaction fee models are quite popular. BurgerSwap on Binnace Smart Chain with incentivized governanace participation and no LP tokens, JustSwap on Tron, MoonSwap on Conflux (Ehtereum Layer 2), EOS projects like DeFiBox, Pizzalend, DolphinSwap, EvoDEX (with dynamic/vairable pool swap fee), UnifiProtocol on Tron (cross-chain asset swap), BlackholeSwap by Hakka Finance (Stablecoin Swaps with infinite pool depth), Bepswap by Thorchain (on Binance Smart Chain), another Uniswap like interface on Thorchain under development - can't recollect the name ...but it's soon to be announced.
Could recall only about a dozen.
Well, I intentionally gave a pass to various food-themed meme projects on Ethereum and CEX-promoted forks like DefiSwap but there must be many more projects on other chains, at least in development if not already launched.
How many projects can you recall?
I'm surprised that if a noob like me can casually recollect so many recently launched projects in the AMM field, there must be plenty of them around.
Every project is eyeing for investors' liquidity and want to get to moon with their own token. But only time will tell how many of these can survive & thrive profitably.
The way the crypto-race is designed, most investers are rushing to put their money into these projects to be the first to get there and to reap unimaginable rewards later. But given the crowd of so many me-too projects, the probability to grab the right one is very very low.
IMHO, it's not actually the project but the hype created around it makes it big! That's why it's called speculative phase. Even the best of the projects can't moon if they ain't endorsed by some biggies in the industry. So checking on who in the industry is investing and supporting the project is quite important too.
So amidst all these AMM projects, CREAM has come up with yet another AMM ...well, not "just another AMM" but something that improves a lot upon the present AMM design.
It's called creamY- a collaborative Y-project. creamY defines itself as "Capital Efficient, Dynamic AMM". It brings some very interesting features like consolidated liquidity and single-sided liquidity. Refer their announcement post here for more details.
Just after a couple of days with their mega coin burn (which almost 2x-ed their prices), Cream has come up with this huge announcement. Cream has already got some of the Coumpound team as its advisors. What's more creamY idea is backed by none other than Yearn Finance's Andre Cronje and Hakka Finance's Ping Chen.
It seems all the right ingredients are in place for the next pump.
But how many AMM projects can lead the market?
My take: With UNI token launch and v3 coming soon, it won't be easy to beat Uniswap. At $5 currently, UNI is cheap!