Despite the recent downturn in crypto prices, decentralized finance, or DeFi, is still among the strongest sub sectors in the blockchain industry. According to crypto data aggregator DeFi Pulse, the total value locked in DeFi protocols is currently at levels last seen around March 2021. However, as data from The Block suggests, trading volume on decentralized exchanges (DEX) in the first half of 2022 is considerably higher than during the first half of 2021, from roughly $380 billion to about $540 billion.
Sifchain, a company building innovative software in the DEX space, has recently announced the continued expansion of its current project line. The project announced the addition of several new features to its decentralized exchange, as well as an expansion of its capabilities by adding a second chain to its Omni-EVM program. Here’s what’s going on behind the scenes.