Quick Overview
RocketSwap is a decentralized exchange launched on the Base mainnet. For a time, it ranked as one of the most active DEXs on Base, supporting token swaps, liquidity pools, and yield farming driven by its native RCKT token.
What It Offers
- Token swaps via automated market maker pools
- Yield farming in RCKT-based farms
- Liquidity provision rewards
- Governance tied to RCKT holdings
These services once attracted users, but current data reveals only a fraction of earlier activity remains.
Volume and Activity
Reports show approximately 28K–255K USD in 24-hour volume, or about 2 BTC, which signals a sharp decline from earlier levels. Other sources confirm low liquidity across pairs, with some pools showing negligible trades and very few transactions detected.
Security and Reputation
In August 2023, RocketSwap suffered a major exploit: roughly 865K USD worth of ETH was stolen after hackers accessed private keys stored on a server, draining the protocol’s farms through proxy contract vulnerabilities. The team responded by shutting down farming, revoking minting rights, and planning a redeployment – but trust took a major hit.
There is no widespread independent audit or recent security report, and trust signals remain low.
Fees and Payments
As a DEX on Base, RocketSwap does not support fiat on-ramps. Fees are native gas and swap-based; farming rewards once existed in RCKT. No current fee structure is prominently published or transparent.
User Feedback and Trust
User reviews are virtually non-existent on major rating sites. The exploit itself drew discussion, but post-hack feedback remains limited. Overall, there is no strong community presence or new trust metrics.
Pros and Cons
| Pros | Cons |
|---|---|
| Once popular on Base network among meme coins and liquidity seekers | Trading volume now very low – only tens of thousands per day |
| Features like AMM swaps, farming, and token governance existed at launch | Liquidity shallow across pools |
| Major security breach with large ETH loss in August 2023 | |
| No active audit or recovery transparency | |
| No recent user reviews or community momentum |
Final Thoughts
RocketSwap was once a prominent Base DEX with community farming and liquidity utilities. However, the security breach in August 2023 severely undermined trust, and current data shows drastically reduced trading and engagement. With no visible recovery, audit updates, or liquidity revival, it feels more like a fading experiment than a reliable venue. If you consider trying it, proceed with caution and only risk small sums you can afford to lose.