DragonSwap Rides Sei Network Waves
DragonSwap launched in 2024 on the Sei Network, leveraging Sei’s parallelized EVM for fast trades and low fees. The platform is positioned as a community-driven AMM hub for Sei-native assets.
What It Offers Today
- Token swaps between Sei-native tokens
- Concentrated liquidity pools (V3-style)
- Listings tied to Sei projects such as DRG, WSEI, and MILLI
- Simple swap and liquidity interface
No cross-chain assets are supported – all activity remains within Sei.
Metrics and Daily Usage
- ~$200K daily trading volume (often less)
- Liquidity concentrated in a few pools (SEIYAN, DRG)
- Other pools remain quiet or inactive
- Global TVL data limited but shows shallow liquidity overall
Trust and Decentralization
- Non-custodial AMM – trades via smart contracts
- Integration with Sei-native wallets
- Open-source code, mentions of audits (details unclear)
- No central team, minimal governance, community-driven
- Risks include low liquidity traps and unverified tokens
Token Support and Ecosystem
- Under 20 trading pairs supported
- Most active tokens: MILLI, DRG, WSEI pairs
- No governance token beyond DRG
- No yield farming or staking programs – LPs earn swap fees only
UX and Interface
- Minimalist design, works on desktop and mobile
- Displays key pool liquidity and fee info
- No advanced charts, analytics, or routing
- Fast execution, simple liquidity provision
Target Audience
DragonSwap is suited for Sei-native traders and builders. Liquidity is too shallow for large trades, but it provides a clean, functional AMM for everyday swaps within Sei. Developers can also integrate or fork its codebase for new projects.
Pros and Cons
| Pros | Cons |
|---|---|
| Optimized for Sei’s high-throughput architecture | Low liquidity, ~$200K daily volume |
| Concentrated liquidity pools with tighter spreads | No cross-chain support |
| Community-driven, open-source | No active team or structured governance |
| Simple UX, fast execution | Limited tokens, no extra incentives |
Final Thoughts
DragonSwap is a niche DEX built for the Sei ecosystem. It provides fast swaps and concentrated liquidity for a handful of native tokens, but liquidity and adoption remain modest. For Sei users and builders, it’s a straightforward tool. For mainstream DeFi traders, larger cross-chain DEXes offer deeper liquidity and broader functionality.