Dark Pool Trading Platform HumidiFi has reached a trading volume of $34 billion in the past month, becoming the largest DEX on Solana

BlockBeats News, October 20th

On-chain dark pool trading platform HumidiFi has become the largest on Solana, setting a record of processing a trading volume of $34 billion in the past month.

According to DefiLlama data, HumidiFi has surpassed the $31 billion liquidity protocol Meteora in trading volume and has also outperformed Solana's flagship DEX Raydium ($21 billion), whereas just three months ago, the platform's daily trading volume struggled to break $1 billion.

Dark pool trading platforms (also known as dark pool automated market makers or proprietary market makers) are a type of trading platform on the Solana blockchain that has surged in popularity in recent months. Unlike the largest decentralized exchange Uniswap, dark pool market makers operate in the background. They usually do not have an official website and do not allow users to provide liquidity to earn exchange fees. These platforms often rely entirely on the liquidity provided by their creators (often anonymous) and only accept trades routed through aggregators such as Jupiter.

While dark pool market makers are more transparent than centralized exchanges due to all trades being publicly visible on-chain, they have lower transparency in other aspects. Dark pool operators typically choose to remain anonymous as they only interact with aggregators and not directly with traders. The development team behind HumidiFi remains anonymous to this day, although activity on its X account suggests that their identity may be revealed soon.