Which platform excels more in providing ARB liquidity yields: Kyber, Traderjoe, Uniswap, or Camelot LP?

Source: DeFi Made Here Twitter

Compiled by: Shenchao TechFlow

The author lists several DEXs providing ARB liquidity, including KyberNetwork, Trader Joe, Uniswap, and Camelot, and provides a comparison of their yields. It is worth noting that the ecosystems and incentives among these platforms vary, leading to different yields. On this basis, the author also explains in detail how some aggregators route swaps between these DEXs, along with their advantages and disadvantages.

• KyberNetwork: 5866%

• Trader Joe: 571%

• Uniswap: 315%

• Camelot: 207%

Here are some details.

KyberSwap has the highest yield at 5866%, and this yield is not affected by incentives.

I added liquidity to a 5% fee tier pool with an APR of 588%, hoping that the additional airdrop would be higher than the difference generated.

The yield from Trader Joe's incentive pools is lower than those without additional rewards. People want to earn more $JOE rewards rather than profits from fees.

Uniswap ranks third without any additional incentives. People trust and are accustomed to using Uniswap, and LPs are willing to accept lower yields as long as they can stay on the platform they are familiar with.

Camelot has the lowest yield. It seems that many people prefer simple position management, even if it means receiving lower rewards.

But how do aggregators route swaps between these DEXs? I entered DefiLlama's meta DEX aggregator to see the best path for a 100 $ETH swap.

It guided me to the Kyber aggregator.

KyberSwap's own DEX aggregator routes only about 2.8% through its own pools, while the remaining 97% is routed through Uniswap.

To make the experiment clearer, I decided to check how 1inch routes the same trade. In this transaction, 5% is routed through KyberSwap, 10% through Trader Joe, and the remaining 85% through Uniswap.

This indicates that DEXs with concentrated liquidity are the most efficient trading methods; liquidity is key.

While other DEXs offer additional incentives to attract LPs in competition, Uniswap has captured most of the TVL and trading volume without any effort. Inefficient DEXs like Camelot are a good choice for those who do not want to actively manage their positions and seek higher rewards through additional incentives.

*Note: The APR displayed on pools in KyberSwap is based on fees generated over 30 minutes (not 24 hours).

The 5% fee tier pool on KS will only have trading volume when the difference between the spot price of $ARB and the $ARB price in this round of voting is > 5%.