DragonSwap V3 (Kaia) market summary
Decentralized (DEX). Country Panama Canal Zone. Established 2024. Trust rank 823. Reported 24h volume 5.48 BTC.
Coverage: 20 active pairs across 14 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 99.8%. Key pairs include USDT/WKLAY, BORA/WKLAY, USDT/USDT, GRND/WKLAY. Leading pair USDT/WKLAY. Median spread on leading markets 0.63%.
Liquidity structure and trading conditions
Volume mix: WKLAY is the largest tracked quote currency at about 94.4% of measured flow. Data scope: 23 tickers observed, with spread readings on 23 markets. Trust rank is a comparative marker across venues, while 24h BTC volume gives a practical sense of recent turnover. Coverage reflects breadth of markets you can access here, which matters when you need alternatives beyond the top pair. Concentration helps explain whether liquidity is diversified or tied to a handful of dominant pairs. Median spread summarizes typical distance between bid and ask on the most active books and is a useful proxy for execution friction. With a compact set of pairs, most activity tends to funnel into the leaders, so the top pairs list becomes especially important. Top ten share is very high here, which can make liquidity feel deep on the leaders while thinner elsewhere. To evaluate fit, use coverage, conce.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy