Quick overview
Shido DEX is the native decentralized exchange on the Shido Network, integrating Cosmos and EVM chains. It offers gasless limit orders, perpetual trading up to 200x, yield farming and cross-chain swaps - all packed into a single permissionless DeFi toolkit.
Architecture and protocol design
Built on Shido Network, the protocol combines Cosmos-level interoperability with EVM smart contracts. Users access aggregated liquidity across 200+ sources, deploy permissionless pools, and execute trades with low slippage. The SHIDO token governs the protocol.
TVL and trading activity
Total value locked remains low (~$70k), with daily volume between $5k and $9k. Monthly turnover is about $100k–$248k, showing slow but consistent growth. Lifetime cumulative volume hovers around $4.7 million.
Token support and depth
Only a few trading pairs are live, such as USDC–WSHIDO and KENSEI–WSHIDO. Liquidity is very thin, so slippage can be high — the DEX currently suits only small trades or ecosystem-native swaps.
Core features
- Gasless limit orders for zero-fee execution
- Cross-chain AMM bridging EVM and Cosmos tokens
- Perpetuals with up to 200x leverage on BSC and ETH
- Yield farming and staking for SHIDO rewards
- Aggregated liquidity from 200+ AMMs
User experience and security
The UI integrates swaps, farms, leverage and more in one place. While the design is user-friendly, performance can vary. Development pace is moderate, with about 3 monthly commits. All smart contracts are audited by Oak Security and published open-source.
Risks and tradeoffs
- Very low liquidity and limited token listings
- Speculative ecosystem - not suited for blue-chip trading
- High technical risk and complexity
- Not beginner-friendly - DeFi fluency required
Final verdict
Shido DEX is a feature-rich but early-stage DeFi platform. It targets experienced users seeking leverage, composability, and cross-chain tooling. But liquidity, adoption and credibility are still works in progress. For risk-tolerant users, it offers unique mechanisms. For everyone else, caution is advised.