Pharaoh Exchange Hits Record Monthly Volume and Fees on Avalanche

Pharaoh Exchange, a decentralized exchange on Avalanche, recorded its highest-ever monthly trading volume of approximately $2.866 billion and $2.48 million in fees. The protocol's cumulative volume has surpassed $34 billion, with total lifetime fees exceeding $32 million. Pharaoh utilizes a concentrated liquidity model similar to Uniswap v3, with 100% of protocol revenue distributed to xPHAR governance token holders. The migration from V2 to V3 is scheduled to conclude on October 31, 2026.