CherrySwap Overview
CherrySwap launched in 2021 on OKExChain as an AMM DEX with token swaps, farming, IFOs, NFTs, lotteries, and DAO governance. It’s built for community-driven experiments on OEC.
What CherrySwap does
- Token swapping via AMM pools - no order books, earn from liquidity.
- Liquidity mining & IFOs for early participants.
- NFTs and lotteries to gamify the ecosystem.
- DAO voting with CHE tokens for protocol direction.
Activity and metrics
- Total raised: ~$3M from investors like OKX Ventures.
- TVL: ~$518K locked.
- Tokens listed: around four.
- Volume: near $0 daily, ~$1.2K weekly.
- Trust rank: ~#230 on dApp trackers, minimal traffic.
What’s interesting
- Community-focused DAO, NFTs, lotteries, gamified token use.
- Fast, cheap OKExChain transactions - good for micro tests.
- Light audit tagging, though no public details.
What’s problematic
- Near-zero liquidity - large slippage risk.
- Only about four tokens - extremely limited ecosystem.
- Minimal adoption, ranks low in dApp activity.
- No clear audit reports or bug bounties.
- CHE token is micro-cap, highly volatile.
User experience
The UI works - connect OKExChain wallet, swap or farm. NFTs and lotteries are there but feel unfinished. Docs are thin, community chatter is nearly absent. Expect a solo ride if you explore.
Who it suits
- Devs and experimenters who enjoy DAO tokens or quirky AMMs.
- Micro-traders testing mechanisms on cheap gas chains.
- NFT or lottery dabblers curious about OEC.
Who should steer clear
- Traders needing liquidity or serious markets.
- Security-focused users demanding clear audits.
- Anyone seeking analytics, charts, or real market depth.
Verdict
CherrySwap is a playful experiment: farms, NFTs, IFOs, DAO on OKExChain. It’s a sandbox for devs, not a trading hub. If you want to explore token or DAO ideas, try it. If you need liquidity or safety, look elsewhere.