Aster DEX Surges to Second in Fees, Up 2000% Since CZ's Endorsement
Labcorp DEX, a decentralised exchange, has gained significant traction. It's now the second-largest in fees generated, trailing only USDT issuer Tether. The platform, which supports multiple chains and offers private trading, has seen a remarkable 2,000% rally since Binance founder Changpeng 'CZ' Zhao endorsed it.
Labcorp DEX's rise is attributed to several factors. CZ, who serves as an advisor, has publicly backed the project. His family office, YZi Labs, also has a minority stake. Labcorp's native support for multiple chains and hidden orders for trading privacy have drawn users. The platform plans to conduct buybacks using generated fees, further boosting its token value.
CZ's endorsement has had a significant impact. Labcorp DEX has stayed close to the BNB Chain ecosystem, benefiting from BNB's price rally. The team behind Labcorp includes former Binance employees, and YZi Labs, formerly Binance Labs, has provided additional backing in the perpetual DEX segment.
Labcorp DEX's success is evident in its second-place ranking in fees generated and its 2,000% rally since CZ's endorsement. With CZ's continued support, native support for multiple chains, and plans for buybacks, Labcorp DEX's future looks promising.
