MonoSwap v3 (Blast) Crypto Exchange Review: Low Liquidity, Zero Fees, and Big Risks

When you hear about a new crypto exchange promising zero trading fees, it’s tempting to jump in. But MonoSwap v3 (Blast) isn’t just another DEX with a catchy slogan. It’s a high-risk experiment built on a barely-used blockchain, with trading volumes so low they’re almost invisible. If you’re thinking about using it, here’s what you need to know - the good, the bad, and the dangerously quiet.

What Is MonoSwap v3 (Blast)?

MonoSwap v3 (Blast) is a decentralized exchange built specifically for the Blast blockchain, launched in early 2024. Unlike Uniswap or PancakeSwap, which work across multiple chains, MonoSwap is locked into Blast. That means you can’t trade from Ethereum, Solana, or Polygon - you need Blast-native assets and a wallet connected to Blast’s network. Its main selling point? Zero maker and taker fees. No matter how much you trade, you pay nothing in platform fees. That sounds amazing - until you look at what else is missing.

Trading Volume? Almost None

As of September 2025, MonoSwap v3 (Blast) reported zero transactions in the last 30 days. That’s not a typo. Zero. Not 100. Not 10. Zero. CoinMarketCap lists its 24-hour volume around $10,700, but that’s less than what a single popular token on Uniswap moves in five minutes. The most active trading pair is USDB/WETH, with maybe a handful of trades per day. If you want to buy or sell more than a few hundred dollars’ worth of crypto, you’ll likely get slippage so bad you lose money before the trade even confirms.

Trust Score? Zero

CoinGecko gives MonoSwap v3 (Blast) a trust score of 0. BeInCrypto rates it 2 out of 10 and ranks it #803 out of all crypto exchanges. These aren’t just numbers - they’re red flags. A trust score of 0 means the platform doesn’t meet even the most basic criteria for reliability: no verifiable team, no audits, no history of stable operations. There’s no public record of a security audit. No known development team. No whitepaper with clear technical details. Just a website and a Twitter account with over 100,000 followers - which doesn’t mean anything if no one is actually trading.

Liquidity Is a Ghost

Liquidity is the lifeblood of any exchange. MonoSwap v3 (Blast) has none. Its normalized volume percentile is 0%. That means compared to every other exchange in the world, it’s at the very bottom. The bid-ask spread is 0.609%, which sounds small - until you realize that on Uniswap, it’s often under 0.1% for major pairs. When liquidity is this thin, your buy order might get filled at 10% worse than the market price. Your sell order could get stuck for hours. And if you try to move more than $500 in one go? You’re likely to crash the price.

Who’s Using It?

No one, really. Web traffic data shows MonoSwap ranks 550 out of 619 crypto exchanges in organic traffic. Pages per visit? 0. Average visit duration? 00:00:00. That’s not a glitch - it means visitors land on the site and leave immediately. No one stays. No one explores. No one comments on Reddit, Discord, or Telegram about their experience. There are no user reviews on CashbackForex, Trustpilot, or any major platform. Even the community is silent. That’s not a sign of a hidden gem. That’s a sign of abandonment.

Why Does It Even Exist?

MonoSwap v3 (Blast) isn’t trying to compete with Uniswap. It’s trying to survive as a side project for the Blast ecosystem. Blast itself is a Layer 2 chain that promises free ETH rewards for staking, but adoption has been slow. MonoSwap exists to give Blast users a place to trade - but without users, it’s just a digital ghost town. The zero-fee model might sound smart, but it’s unsustainable. Most DEXs make money through token incentives, protocol fees, or yield farming. MonoSwap has none of that. There’s no native token. No staking rewards. No liquidity mining. Just a website with a trading interface and a whole lot of emptiness.

How to Use It (If You Must)

If you still want to try it, here’s how:

1. Get a Web3 wallet like MetaMask or Rabby.
2. Add the Blast network manually (RPC: https://rpc.blast.io, Chain ID: 81457).
3. Get some USDB or WETH on Blast - you can bridge from Ethereum or get it via Blast’s native airdrop programs.
4. Go to monoswap.xyz and connect your wallet.
5. Trade. But keep it small. Under $100.

Remember: you still pay Blast network gas fees. Those aren’t zero. And if your trade doesn’t go through? There’s no customer support. No email. No live chat. Just a website that might disappear tomorrow.

What’s Missing

MonoSwap v3 (Blast) lacks nearly everything you’d expect from a working exchange:

• No margin trading
• No limit orders
• No stop-loss
• No token launchpad features (despite being called a “Launchpad”)
• No mobile app
• No API for traders
• No educational content
• No documentation beyond a basic UI

This isn’t a beginner-friendly platform. It’s a barebones tool for people who already know what they’re doing - and even then, there’s nothing here worth risking real money on.

Alternatives That Actually Work

If you’re looking for a zero-fee DEX on Blast, consider these instead:

• BlastSwap - More active, better liquidity, same chain.
• Uniswap v3 on Arbitrum - Massive liquidity, low fees, proven track record.
• PancakeSwap on BSC - High volume, strong community, reliable.
• QuickSwap on Polygon - Low gas, solid user base.

None of these are perfect, but they all have real users, real volume, and real support. MonoSwap doesn’t.

Final Verdict: Don’t Risk It

MonoSwap v3 (Blast) is not a scam - at least, not yet. But it’s not a real exchange either. It’s a prototype with no users, no liquidity, no team, and no future unless Blast explodes overnight. The zero fees are a trap. They make you think you’re getting a deal, when really you’re just trading in a vacuum. If you want to explore Blast, use it to stake and earn rewards. Don’t use it to trade. There’s nothing to trade with.

Save your time. Save your crypto. Stick with exchanges that have real activity - not just a website and a Twitter account.