Editor's Note: This article comes fromIOSG（ID： IOSGVC）, reprinted by Odaily with authorization.
Editor's Note: This article comes from
The increasing complexity of the DeFi ecosystem makes it difficult for ordinary users to keep up with the latest trends. As such, aggregators are becoming an increasingly important part of Web 3, giving users broad access to the DeFi world from a single point of entry. Similarly, with the vigorous development of protocols built on Web 3, aggregators are also taking on an increasingly important role in Web 3.
source：https://twitter.com/jpurd17/status/1288869696654184449?s=20
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On the other hand, for smaller transactions, trading directly with the Uniswap pool used to be the best option. However, as of recently, 0x Labs built a hyper-optimized contract that allows the 0x API to transact in a more gas-efficient manner than default Uniswap transactions.
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According to historical data, DEX aggregators represented by 1inch, Matcha, DEX.AG, and Paraswap contributed an average of 10% of today's DEX trading volume, and this value reached 25% at the peak.
source：https://colab.research.google.com/drive/1dwLwT7ETzKSjJWGiayFzNaaewtIVQzW9?usp=sharing
As for user participation, generally speaking, 10% of DEX users will choose DEX aggregators to execute transactions. It is worth noting that 30% of the current DEX aggregator users are brought about by the explosive growth in the past 30 days.
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In addition to DEX aggregators, another increasingly important aggregation layer in the DeFi field is the DeFi dashboard (DeFi -dashboard), which focuses more on assisting users in asset management and trying to expand one-stop services in lending, investment, trading, etc. .
Zapper, Debank, Zerion and InstaDapp are leaders in this direction. They attract more new users by providing users with access to the DeFi ecosystem, simplifying the logic of the DeFi ecosystem and lowering barriers to entry. However, as MetaMask allows users to conduct transactions directly on its internal interface and will further expand user vertical business in the coming months, MetaMask may become a "disruptor" in this field.
Backed by more than one million monthly active users, MetaMask is in a dominant position determining the room for further development of the service. After all, users need MetaMask (or other wallets) to interact with aggregators and vice versa. Therefore, if MetaMask expands its services within its network, it may directly affect the number of other aggregator platforms.
source：https://link.medium.com/aE5gzzA58cb
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source:https://www.dapp.com/app/defizap
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Considering the huge transaction volume generated in the aggregation layer, whether the project can successfully capture value and realize it has become another question worth thinking about.
Currently, except for 1inch and MetaMask, other protocols have no positive income. 1inch and MetaMask have been leveraging their dominant position in the aggregator space and capturing value through positive slippage mechanisms (ie: positive difference between quote and actual price) and dynamic fees respectively.
Regarding the former, the greater the volatility of the market, the slower the update speed of the front-end price, and the greater the possibility of positive slippage. Such revenue may exceed that generated by transparent fee categories. But given the indirect nature of this fee, it may be more acceptable to users than directly paying a small transaction fee.
On the other hand, most other protocols through aggregators cannot charge convenience fees due to their small market share. Therefore, they have been focusing on product optimization and user acquisition to increase potential future revenue. Ultimately, we should expect most protocols to experiment with different fee structures in order to create value for their shareholders.
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