MonoSwap v3 (Blast) Review: Zero‑Fee DEX or Liquidity Risk?

When you hear about a brand‑new decentralized exchange that promises zero trading fees, the first thought is usually excitement - who wouldn’t love to keep every satoshi from a trade? MonoSwap v3 (Blast) is that buzzword‑filled project: a fresh DEX built on the Blast blockchain and marketed as a yield‑driven launchpad for the Blast ecosystem. Launched in 2024, it’s still a toddler in the crowded DeFi playground. This review unpacks whether the zero‑fee promise outweighs the glaring lack of liquidity, trust scores, and real‑world usage.

What Exactly Is MonoSwap v3 (Blast)?

At its core, MonoSwap v3 (Blast) is a decentralized exchange (DEX) that lives entirely on the Blast layer‑2 network. The platform’s UI mirrors familiar DEX layouts: connect your wallet, pick a pair, hit swap. The twist is the advertised 0% maker and taker fee structure, which the team claims makes the exchange “inherently cost‑effective.” Unlike giant DEXes that span multiple chains, MonoSwap is single‑chain, meaning every trade stays within Blast’s fast, low‑cost environment.

Key Metrics You Need to See at a Glance

*Trust scores are taken from public aggregators; higher numbers mean more confidence from the community.

Zero‑Fee Model - The Good, The Bad, The Realistic

The headline that draws users in is the zero‑fee model. With no maker or taker fees, a trader theoretically saves a full 0.3% on each swap compared to Uniswap. In practice, the only cost you’ll see is the underlying Blast network gas fee, which is already cheap (often under $0.01 for standard swaps).

• Pros: Perfect for tiny‑scale arbitrage or frequent micro‑trades where fee overhead would eat profits.
• Cons: Zero fees also mean the exchange has no built‑in revenue stream to fund security audits, UI upgrades, or liquidity incentives.
• Reality check: Without a sustainable tokenomics design, the platform may have to rely on future token sales or external grants to stay afloat.

Liquidity - The Achilles Heel

Liquidity is the lifeblood of any DEX. If you try to trade a larger amount on MonoSwap, you’ll likely encounter a slippage that dwarfs the 0.609% average bid‑ask spread reported in the limited data set. The exchange lists only 3-4 trading pairs - most active being USDB‑3/WETH‑14 - and the 24‑hour volume hovers around $10k. By comparison, Uniswap processes millions of dollars each hour.

Why does low liquidity matter?

1. Rough price execution: Your trade can move the market price, leaving you with a worse fill.
2. Higher hidden costs: Large slippage can turn a “zero‑fee” trade into a costly one.
3. Risk of front‑running: Thin order books make it easier for bots to sandwich your transaction.

For a casual user who trades under $50, the impact might be negligible. For anyone looking to move $5k or more, MonoSwap’s liquidity issues become a serious blocker.

Trust Scores and Community Signals

Trust scores are a quick sanity check. CoinGecko rates MonoSwap at 0, while BeInCrypto gives it a 2 out of 10 and ranks it #803 in trustworthiness. Those numbers scream “proceed with caution.” The platform’s Twitter account boasts over 100k followers, which sounds impressive, yet the actual on‑chain activity tells a different story: zero transactions in the last 30days (as of September2025) and a negligible web traffic ranking (550/619 among exchanges).

In short, the social hype is not translating into real usage. A community that’s vocal but inactive can be a red flag - it suggests the project may be more about marketing than delivering a functional product.

Getting Started - Step‑by‑Step Walkthrough

If you’re still curious enough to give MonoSwap a test run, here’s what you’ll need:

1. Crypto wallet that supports the Blast network (e.g., MetaMask with a custom RPC, or a dedicated Blast wallet).
2. Some Blast‑compatible tokens - the exchange currently lists only three assets, so you’ll need one of them (USDB, 3, or WETH‑14).
3. Enough native BLAST gas to cover the transaction fee (typically a few cents worth).
4. Navigate to the official MonoSwap URL, click “Connect Wallet,” select your wallet, and approve the connection.
5. Choose the pair you want to swap, enter the amount, and confirm. The UI is straightforward: no hidden settings, just a big “Swap” button.

Behind the scenes, the DEX routes your trade to the on‑chain order book. Because the order book is shallow, always double‑check the estimated slippage before confirming.

Comparing MonoSwap to the “Big Three” DEXes

When you line up MonoSwap next to the market leaders, three themes pop up:

• Fees: MonoSwap wins hands‑down with 0% fees. Uniswap and SushiSwap charge ~0.25‑0.30% taker fees.
• Liquidity & Volume: MonoSwap trails by more than 2 orders of magnitude. Uniswap processes billions monthly; MonoSwap barely eclipses $10k daily.
• Trust & Longevity: Established DEXes have been audited, have bug bounty programs, and enjoy community confidence. MonoSwap’s trust score is near zero, and there are no public audit reports yet.

Bottom line: If you value cheap trades above everything else and you’re comfortable handling potentially high slippage, MonoSwap might be a niche tool. For most traders, the safety and depth of Uniswap or SushiSwap outweigh a few pennies in fees.

Potential Risks and Red Flags

Every DeFi platform carries risk, but here are the ones that stand out for MonoSwap:

• Liquidity vacuum: Thin order books can cause price impact and front‑running.
• Low trust scores: No independent audits, low community activity, and a lack of professional reviews.
• Regulatory opacity: No known registration with any financial authority; the platform operates in a legal gray area.
• Single‑chain dependency: If the Blast network fails to grow or experiences a security incident, MonoSwap’s entire user base is at risk.

Given these concerns, many seasoned users treat MonoSwap as a “play‑with‑caution” platform - perhaps a place to test a few micro‑swaps, but not a primary trading hub.

Future Outlook - Can MonoSwap Turn the Corner?

The platform’s success hinges on three variables:

1. Blast ecosystem growth: If Blast becomes a go‑to L2 for DeFi, liquidity could naturally flow into MonoSwap.
2. Incentive programs: Yield farming, liquidity mining, or a native token that rewards providers could bootstrap depth.
3. Transparency upgrades: Publishing audit reports, roadmaps, and real‑time analytics would boost trust scores.

At the moment, there are no public roadmaps or strategic partnerships announced, so the future feels uncertain. Users who believe in the Blast vision might still keep an eye on MonoSwap, but a prudent approach is to diversify across proven DEXes while waiting for tangible improvements.