DEX

Follow the latest news on decentralised exchanges including Uniswap, Hyperliquid, dYdX, PancakeSwap, SushiSwap and more, with updates on AMMs, liquidity pools, perpetual trading, cross-chain swaps, DEX aggregators and DeFi infrastructure shaping global crypto markets.

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Hristina Vasileva

Lighter allocates over $24M to Jump Crypto as market maker in November

In November, Lighter allocated over $24M in LIT to Jump Crypto for market‑making. According to wallet allocations, Jump Crypto received 323,956 LIT in fees and 9,284,890 LIT as liquidity, equal to 0.93% of total supply and 3.72% of circulating supply. DeFiLlama data shows daily fees fell from $1.39M to $139K in December.

Flow exploit freezes NFT-backed loan settlements as network pause disrupts repayments

Following a Dec. 27 exploit on the Flow blockchain, loan settlements on NFT lending platform Flowty were halted after the Cadence execution environment was paused until the morning of Dec. 29. Flowty reported 11 loans maturing during the outage, with multiple defaults and two unsettled positions, and has since stopped all settlements while keeping affected loans outstanding. The FLOW token price fell sharply after the incident and continued to decline to $0.086 as ecosystem functionality, including token swaps, remains impaired.

Yield Basis' IL-free AMM tops BTC DEX; $450,000 distributed week ending Dec. 25

Yield Basis introduces an IL-free AMM that removes impermanent loss via leverage and offers BTC-denominated returns to liquidity providers. LPs can either hold ybBTC to receive trading fees in BTC or stake ybBTC to earn YB emissions, with the fee switch activated earlier this month. Roughly $450,000 was distributed in the week ending Dec. 25.

Lighter's LIT drops 22.2% as airdrop goes live; on-chain metrics flag heavy selling

Lighter's LIT fell roughly 22.2% to around $2.62 after briefly reaching $4.04 as its airdrop distribution went live on Tuesday. Trading activity jumped, with 24-hour volume at 13.43 million, while analysis of 10,000 wallets indicated selling outweighed accumulation early in the distribution. Derivatives net flow readings also showed sustained downside pressure.

Bitwise submits 11 altcoin strategy ETF filings to the SEC on 30 December 2025

Bitwise Asset Management said on 30 December 2025 it filed with the SEC for 11 crypto strategy ETFs covering tokens such as AAVE, UNI, ZEC, TAO, CC, ENA, HYPE, NEAR, STRK, SUI, and TRX. According to its filings, each fund may invest up to 60% directly in the applicable token and 40% via ETPs, with derivatives counted at notional value to meet an 80% minimum. Pending approval, the launch is targeted around 16 March 2026.

Cointelegraph by Zoltan Vardai

Bubblemaps: Lighter's $675M LIT airdrop ranks 10th in crypto history

On Tuesday, Bubblemaps reported that Lighter distributed $675 million in LIT via an airdrop, which CoinGecko ranks as the 10th largest by USD value. As of Wednesday, around 75% of recipients still held and 7% had added more, while Nansen showed a $678 million market cap and a price above $2.71 at 11:20 am UTC.

Collins J. Okoth

Lighter withdrawal issues continue; no team update as of December 30, 2025

Users of Perpetual trading platform Lighter report failed withdrawals showing the error "Too many L2 Withdrawals." On-chain explorer data points to a lag between the Prover and Sequencer, with the last committed block #137759880 finalized prior to the December 30, 2025 update. The team has not issued a formal statement, while LIT trades at $2.84.

Lighter's LIT tokenomics allocate 50% to users and 50% to insiders

On December 30, 2025, Lighter unveiled tokenomics for its Lighter Infrastructure Token (LIT), assigning 50% of supply to ecosystem incentives and 50% to team and investors. The project says insider allocations include a one-year cliff and three years' linear vesting, and confirmed a 25% airdrop tied to two points seasons in 2025.

Onchain perpetuals hit $1T monthly volume in 2025, says David Duong of Coinbase

In a December 29, 2025 post on X, Coinbase researcher David Duong said onchain perpetual futures trading surpassed $1 trillion in monthly volume as leverage demand grew amid a muted altcoin season. Decentralized venues such as Aster and Hyperliquid gained share, and Duong highlighted equity perpetuals as a likely next growth segment for onchain derivatives.

Hristina Vasileva

Lighter Launches LIT Token as Perpetual DEX Volume Hits $4.7B and Supply Tightens

On December 30, 2025, perpetual futures DEX Lighter launched trading for its native Lighter Infrastructure Token (LIT) after months of building activity. The token's early price discovery saw levels around $2.80, while the platform reported about $1.4B in value locked and $4.7B in daily trading volume. LIT will distribute 25% of its total supply to point farmers based on two 2025 farming seasons, fully unlocked for trading.