ON–344: Aggregators 🔄
Jun 6, 2025


📝 Editor's Note:
On a dramatic week, welcome to OurNetwork's latest. For this one, we're covering aggregators, a subsector that's become key to crypto's user experience.
As the industry moves to abstract away blockchain's technical complexity, aggregators are positioned to capture value by finding optimal trading routes across blockchains and exchanges. They're already big business—aggregators have generated $150.8B in monthly volume so far in 2025, up 132% from the $64.9B monthly average in 2024.
We have three of the top aggregators below, courtesy of Pavel, Ario, and Alex. We'll also get into up-and-comers thanks to contributions from Nakita, yasmin, and Williams.
– ON Editorial Team

1inch | Jupiter | CoW Swap | Barter | LFJ | Symphony


📈 In 2025, 1inch Proved To Be A Leading DeFi aggregator, Achieving Record-Breaking Growth in Terms of Volume, Swaps and Users
- Since 2019, 1inch has been a leading force in DeFi. In May, boosted by strong user activity in Binance Wallet, 1inch saw a major surge — 63% market share by volume, 80% by swaps, and 59% by users. These milestones reaffirm its dominance in the DeFi aggregator space and its appeal to a wide user base.

- On May 21, 1inch processed $4.7B in 24-hour trading volume – a massive 10-to-12x surge compared to its daily average.

- In 2024, Base led all blockchains by number of swaps on 1inch Router. But in 2025, BNB Chain took a commanding lead, becoming the top chain by swap activity with a significant margin.


📈 Jupiter’s DEX Routing Volume Rebounded in May, Climbing to Over $67.2 Billion — a 33% Increase from the Previous Month
- Jupiter, Solana’s leading aggregator, has dominated the ecosystem with remarkable trading volumes over recent months. In January, Jupiter achieved an all-time high exceeding $185B, commanding over 90% of the aggregator market share on Solana. Despite a dip amid fading memecoin excitement, May saw a notable recovery with volumes surpassing $67.2B, reflecting a 33% increase. Over the past eight months, Jupiter's total volume topped $688B, representing over 93.7% of aggregator trading on Solana.

- Each aggregator employs a unique strategy for selecting decentalized exchanges (DEXs), resulting in varied integration levels. Jupiter stands out with a diverse DEX portfolio, led by Raydium at 26.2%, closely trailed by SolFi—a private, interface-less AMM—at 18.5%, and Orca rounding out the top three with 12.9%.

- Jupiter’s standout feature is its robust integration of private AMMs, now comprising 27.2% of its routing volume. This shift has decimated Raydium’s share from 40.1% in October 2024 to under 11% by May 2025, and Orca’s from 17.8% to 8.1%, while SolFi surged from 0.06% to 34.9% in May.


👥 Alex Vinas | Website | Dashboard
- CoW Swap hit $6.1B in volume last month, leading all Ethereum DEXs in frontend market share. That’s double its 2024 monthly average of $3B and matches 2025’s current $6B average. This growth reflects rising trust in CoW Swap’s unique batch auction model, which protects users from MEV and helps them secure better prices—fueling its rapid climb in the DEX Aggregator landscape.

- Since early 2025, CoW Swap has led the Ethereum DEX aggregator space in top-layer market share. In March, it reached an all-time high of 42% market share, showcasing sustained growth and solidifying its position as the go-to aggregator for best price, efficient, and MEV-protected trading.

- DeFiLlama aggregates quotes from all major DEX aggregators, making it a neutral source for price discovery. When looking at the top 15 traded tokens on Ethereum, CoW Swap has consistently led in "won" volume since 2024.

The biggest Coincidence of Wants (CoW) on CoW Swap in 2025 matched 4 users directly: $3M of LINK↔USDC and $20K of stETH↔wstETH, settled by the Fractal solver matching 2 users on each side. One trader swapped $3M of LINK for USDC, matched with a counterparty trading $5M USDC worth of LINK. Simultaneously, 10 stETH was swapped for wstETH, matched with 22 wstETH worth of stETH. This kind of multi-party settlement is only possible on CoW Swap.

👥 Nikita Ovchinnik | Website | Dashboard
📈 Barter’s Routing Architecture Enables Highly Efficient Execution, Securing Optimal Prices Across Fragmented Liquidity
- Barter is an intent-based aggregator operating across EVM-compatible blockchains. Through the use of advanced routing algorithms and integration with diverse liquidity sources, the platform frequently achieves highly competitive execution prices. To date, Barter has processed over $12.57B in cumulative trading volume, spanning more than 240,000 transactions and involving over 77,000 unique wallet addresses, indicating consistent usage and market traction.

- Barter’s weekly volume grew steadily through 2024, nearing $500M by early 2025. This growth reflects Barter’s ability to rapidly integrate new protocols—especially large ones like Fluid and Uniswap v4—enabling it to quickly expand access to high-volume liquidity sources.

- Barter is integrated with over 35 DEXs and routes across more than 60,000 liquidity pools. Its advanced routing logic distributes volume across venues, demonstrating the platform’s ability to systematically identify and access the most efficient sources of liquidity.

On Feb 1, 2025, Barter routed a user’s sale of 50,000 SPX6900 for USDC via a single order executed through 21 swaps across Uniswap v2/v3, Maverick v2, PancakeSwap v3, Bebop, Wintermute, Sky, and Sushiswap. Despite the fragmented execution, the resulting price improvement exceeded execution costs. This transaction illustrates both the complexity of Barter’s routing algorithms and the aggregator's efficacy in optimizing trade outcomes across fragmented liquidity.

- LFJ has become Avalanche's go-to aggregator since January 2025, routing $800M+ volume through strategic DEX partnerships. Beyond dominating Trader Joe with a 78.29% share, LFJ taps into Pharaoh, GMX, and Uniswap liquidity pools. With an average of 415.7 daily trading pairs and $0.09 average fees, LFJ's multi-DEX approach delivers superior price execution while maintaining 6.9k daily transactions across stablecoin-heavy trading patterns.

- LFJ averages $5.7M daily volume and ranks third among Avalanche aggregators by volume year-to-date.

- LFJ averages $0.1377 per transaction, which is a 17.32% fee percentage of trade value. Higher fees are justified by extensive token pair coverage and liquidity provision for less common trading pairs that other aggregators don't support.


👥 Williams Lin | Website | Dashboard
- Symphony, an aggregator built for Sei, has hit a cumulative volume of over $19M, with over 16% of that occurring in the last 7 days. With the recent integration on various partners, as well as the roll out of SDK documentation along with the release of an embeddable Symphony swap widget, Symphony is going through an explosive growth as more updates and upgrades are coming. Looking deeper into Dune, Symphony has been performing exceptionally in May. Daily volume hit an all time high in the month, with over $875k+ of volume moving on a single day on May 10.

- Comparing Symphony's explosive growth with Sei's total trade volume on-chain, we can see that while Sei's volume remained steady, Symphony's volume did not. This means that an increasing number of traders are now preferring Symphony as their main venue for swapping.

