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Integral Insight: May ’23

In May, we made considerable strides in both maintaining steady trade volumes and launching new features aimed at improving our user experience and capital efficiency.

Throughout the month, Integral continued to witness robust volumes. A significant part of this volume came from our integrations with DEX aggregators, demonstrating the widespread utilization of our platform for DeFi trades. See our info site for detailed volume statistics. The continued volume has meant that we continue to rank in the top five DEXs in terms of capital efficiency (TVL/volume) throughout the month, as reported by DeFi Llama.

For more information on why utilization is an important metric to compare DEXs, see our Twitter thread here:

Early in the month we surpassed $300 million in trade volume, and volumes don’t show any sign of slowing down.

Product Updates

One of our most exciting updates in May was the successful launch of the new USDC-USDT pool on mainnet in the first half of the month. This new pair was swiftly integrated with multiple aggregators, and we have also initiated the process to incorporate it with further integrations that will continue to drive volume.

In terms of feature releases and updates, we made significant headway on two fronts:

  • Limit Order Feature: After consistent internal testing on the limit order goerli testnet throughout the month, we were delighted to roll out the limit order feature on the testnet.
  • LP Reward Distribution: We commenced internal testing of a new smart contract to distribute LP reward tokens in the initial weeks of May. We successfully released this new smart contract for LP reward distribution on mainnet.

In our ongoing efforts to optimize the Integral experience, we devoted considerable attention to an upgrade centered around hashed order enhancement. This internal review aims to reduce gas consumption when trading with the SIZE pools, further enhancing the efficiency of our platform.

This month has continued the trend of high utilization and overall trading volume with multiple all time highs reached during the month.

Stay tuned for more updates and improvements as we continue to work diligently towards our mission of providing an efficient and user-friendly decentralized trading platform.