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      Pharaoh Exchange Achieves Record Monthly Volume and Fees on Avalanche

      Pharaoh Exchange, a prominent decentralized exchange (DEX) operating on the Avalanche blockchain, has reported unprecedented trading activity for the month of September 2026. The DEX recorded approximately $2.866 billion in trading volume over the past 30 days, alongside fees totaling around $2.48 million, as indicated by data from DefiLlama.

      This surge in activity marks a significant milestone for Pharaoh Exchange, which has now surpassed a cumulative trading volume of $34 billion and lifetime fees exceeding $32 million. For context, the exchange had reported $4.90 billion in trading volume for the entire third quarter of 2025, highlighting that the latest monthly figures represent more than half of that quarterly total.

      Pharaoh Exchange employs a concentrated liquidity model, akin to Uniswap v3, allowing liquidity providers to select specific price ranges for their capital. This innovative approach enables the DEX to manage billions in monthly volume despite a total value locked (TVL) of approximately $50 million. As of late September 2026, the exchange's revenue-to-market-cap ratio was noted at 792%, suggesting a favorable valuation relative to its cash generation capabilities. The transition from Pharaoh V2 to V3 is nearing completion, with the final phase set to conclude on October 31, 2026.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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