Abstract DEX Trading Volumes Hit Highest Level Since Launch

Ethereum Layer 2 network Abstract experienced a surge in decentralized exchange (DEX) volume yesterday, driven by an onchain DeFi game called Bigcoin.

Abstract processed $21 million in total DEX volume on April 10, the highest since the chain’s launch on Jan. 26, when almost $30 million was recorded. That’s roughly five times the network’s daily average of $4 million throughout the month of March.

More than 50% of the volume is being driven by one token in particular, called Bigcoin. Bigcoin has done $10.8 million in volume over the last 24 hours, according to DexScreener.

Bigcoin is an onchain degen DeFi game paying ode to Bitcoin, where owners can purchase in-game facilities and mine Bigcoin, which obeys an accelerated halving mechanism. The game loop features a heavy burning mechanic in an attempt to moderate the token’s supply on the market. Players can upgrade their facility to mine more $BIG by spending their $BIG tokens.

The game is highly speculative and reminiscent of many high yield games that were experimented with in 2021.

Abstract is an Ethereum Layer 2 blockchain developed by Igloo Inc, the parent company of the Pudgy Penguins NFT project. The Pudgy Penguins launched their own PENGU token on Solana in December, but Abstract also has plans to introduce its own native token, with a presumed airdrop for NFT holders and users who are accumulating Abstract XP.