Tag: DeFi

THORChain – DEX Review

Score: 46/100. Unmatched native cross-chain swaps, carrying 2021 hacks, a $200M 2025 crisis, and use as a laundering conduit.

Score: 47/100. The most incidents in this series: four since 2021, including a $116-128M hack that hit twice-audited code.

Score: 62/100. Brilliant DLMM engineering, carrying a 2026 incident and real controversy over memecoin launches on its tools.

Score: 75/100. Zero hacks in 4+ years and six audits from four firms, deliberately trading liquidity depth for that clean record.

Score: 66/100. Less a DEX than shared order-book infrastructure; judge its small TVL by volume and revenue instead.

Score: 62/100. Cosmos’ dominant AMM, currently facing a live, unresolved vote on merging into the Cosmos Hub itself.

Score: 57/100. The lowest score yet: a 2023 hack, an $8B-to-$400M collapse, and a founder who briefly handed control to Sam Bankman-Fried.

Score: 61/100. Pioneered oracle-priced perps, now honestly overtaken: Hyperliquid does ~88x GMX’s 30-day volume.

Score: 75/100. No major hack since 2020 across $2.5T+ volume, tempered by real CAKE concentration and an anonymous team.