Overview
PulseX is a decentralized exchange built on the PulseChain network that enables fast, ultra-low-fee PRC20 token swaps, featuring deflationary tokenomics and layered yield incentives. The platform primarily targets ERC20 holders, encouraging them to bridge into PulseChain and support liquidity on the DEX. Its native token, PLSX, plays a central role in incentivizing liquidity providers and reducing supply via swap-based burns.
Background and design philosophy
PulseX launched in May 2023 as a Uniswap fork tailored for PulseChain’s high-speed, low-cost environment. It was specifically designed to offer a superior DEX experience with near-instant confirmations and transaction fees under one cent. The platform supports seamless swaps between PLS and PRC20 tokens, bridging in ERC20 assets to foster liquidity and ecosystem growth.
Core mechanics and tokenomics
PulseX uses an AMM framework similar to Uniswap, enhanced for PulseChain’s architecture. A defining feature is its deflationary design: 21% of each 0.29% swap fee is used to buy back and burn PLSX, effectively reducing circulating supply over time. Another 76% goes to liquidity providers as rewards and 3% to governance voters.
In recent activity, ecosystem participants accumulated about 500 million PLSX across two weeks via swaps and burn incentives. This mechanism helps shrink supply while fueling liquidity.
Incentive model and yield farming
PulseX amplifies rewards using layered yield systems through non-custodial farms. Liquidity providers can earn PLSX plus additional tokens while retaining their LP tokens. This multi-reward model enhances user engagement and liquidity depth. As of mid-2025, these farms attracted around 160k dollars in total value locked.
Recent developments and roadmap
- 500 million PLSX distributed and burned in August 2025, reducing sell pressure and intensifying scarcity.
- SEC case against founder Richard Heart dismissed in the U.S. due to jurisdiction limits, though European investigations continue.
- Updated token branding in July 2025 improved UI clarity and ecosystem visibility.
- Roadmap highlights: DAO governance expansion by Q4 2025, staking model upgrades in Q1 2026, and ongoing improvements to burn mechanisms.
Strengths and risks
| Strengths | Weaknesses |
|---|---|
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Market and liquidity snapshot
Current stats show:
- Circulating and total supply: about 143 trillion PLSX
- Market cap: over 5.3 billion dollars
- 24-hour trading volume: around 1.8 million dollars with a recent decline
- All-time high: 0.0001397 dollars in May 2023
- All-time low: 0.0000089 dollars in September 2023
- Recent price in August 2025 was around 0.000039 dollars
Strengths and weaknesses at a glance
| Component | Details |
|---|---|
| Platform Type | Decentralized Exchange on PulseChain |
| Token | PLSX - deflationary governance and reward token |
| Fee Structure | 0.29% per swap - 21% burned, 76% to LPs, 3% to governance |
| Incentives | Layered rewards with multiple tokens |
| Legal Status | SEC case dismissed in U.S. - European probes pending |
| Key Developments | Token burns, DAO expansion, branding updates |
| Risks | High supply, legal uncertainty, reliance on governance |
Final word
PulseX combines speed, low fees, and a unique deflationary design. Its layered yield incentives set it apart from many other decentralized exchanges. Still, questions around supply size, governance participation, and regulatory pressure remain. The upcoming governance and staking upgrades in late 2025 and early 2026 could define its long-term position in the market.