Back

Sun Wukong Hits 44,000 Users and $4.1B Volume After Zero Maker Fee Launch

The Chinese decentralized contract exchange continues rapid growth with a newly reported staking feature offering up to 10% APY on USDT deposits alongside active trading.

USDT

Summary

Sun Wukong, a Chinese decentralized contract exchange, has grown to over 49,000 users and reached $4.4 billion in cumulative trading volume. The platform now offers USDT staking with up to 10% annual percentage yield (APY), allowing users to earn returns without interrupting trading activity. These milestones follow earlier growth driven by a zero Maker fee initiative launched on October 21, which tripled Maker trade volume.

Terms & Concepts
  • Maker fee: A fee charged to traders who add liquidity to an order book; in this case, Sun Wukong reduced it to zero, boosting trade volume.
  • Decentralized exchange: A cryptocurrency trading platform that operates without a central authority, enabling peer-to-peer transactions directly between users.
  • Annual Percentage Yield (APY): A standardized measure of the annual return on an investment, accounting for compounding interest over a year.