When you’re looking for a new crypto exchange, you want speed, safety, and enough liquidity to actually trade without losing half your money to slippage. DoveSwap v3 claims to be a decentralized exchange built on Polygon zkEVM, promising lower fees and better capital efficiency. But here’s the truth: DoveSwap v3 isn’t a viable option for anyone serious about trading crypto in 2025.
What DoveSwap v3 Actually Is
DoveSwap v3 is a decentralized exchange (DEX) that runs on Polygon zkEVM, a Layer 2 blockchain that’s compatible with Ethereum but cheaper and faster. It uses a concentrated liquidity model - the same one Uniswap V3 pioneered - which lets liquidity providers put their funds only within specific price ranges instead of across the whole curve. That’s smart in theory. It means less capital is wasted and fees are more efficient.
But theory doesn’t pay your bills. DoveSwap v3 launched in 2023 and hasn’t gained any real traction since. As of October 2025, it only supports 4 tokens and 5 trading pairs. The most active pair, USDC/WETH, sees just $540 in daily volume. That’s not even enough to cover the gas fees for a single large trade on most other DEXs.
The Numbers Don’t Lie
Let’s break down the numbers. CoinGecko shows DoveSwap v3’s total 24-hour trading volume between $800 and $2,700. That’s less than 0.0001% of Uniswap’s daily volume. To put that in perspective: if Uniswap is a highway with 10,000 cars an hour, DoveSwap v3 is a dirt road with two cars, one of which is probably the developer testing the app.
The entire liquidity pool across all pairs is under $3,000. That’s not a market - it’s a sandbox. If you try to trade $200 of ETH for USDC, you’ll likely see a 5% slippage. You’ll pay more in price impact than you’d pay in fees on Coinbase or Kraken. And there’s no margin trading, no native token for fee discounts, no staking - nothing to keep users coming back.
No Audits, No Trust
Security is the biggest red flag. DoveSwap v3 has never been audited by a reputable firm. Not by CertiK. Not by OpenZeppelin. Not by anyone. The code is live on-chain, and it’s non-upgradeable, which sounds good - until you realize that means any bug, exploit, or vulnerability is permanent. There are no emergency shutdowns, no freeze functions, no recovery options.
Since 2022, over $2 billion has been lost in DeFi hacks - and nearly all of them targeted unaudited protocols. You don’t need to be a hacker to know this is dangerous. If you’re putting more than $50 into DoveSwap v3, you’re not trading - you’re gambling.
Who Even Uses This?
There’s no community. No Reddit threads. No Telegram groups. No YouTube tutorials. Just 2,139 Twitter followers - less than a single tweet from a popular crypto influencer gets. No one’s writing reviews because no one’s using it. The few people who do are likely the developers themselves, testing liquidity positions with their own funds.
Compare that to Uniswap, which has over 1.2 million Twitter followers and daily volume in the billions. Or PancakeSwap, which runs on BNB Chain and has over 1.5 million followers. DoveSwap v3 doesn’t just lose - it doesn’t even register on the radar.
How to Use It (If You Must)
If you’re still curious - and you really shouldn’t be - here’s how it works. You need a wallet like MetaMask, configured for the Polygon zkEVM network. You’ll need MATIC tokens to pay for gas. Then you connect your wallet to the DoveSwap interface, pick a pair, and trade.
But here’s the catch: the interface is basic. No price charts. No order book. No advanced settings. You’re stuck with the default AMM model. And because liquidity is so thin, even small trades can tank your price. If you’re trying to swap $100 of USDC for WETH, you might end up getting 15% less than the market rate.
There’s no customer support. No help center. No email. No Discord. If your transaction fails, you’re on your own. No one’s answering.
Why It Doesn’t Compete
Polygon zkEVM itself isn’t the problem. It’s a solid Layer 2 with growing adoption. But DoveSwap v3 isn’t the only DEX on it. Other projects like QuickSwap and SushiSwap have already built deeper liquidity and stronger communities on the same chain. Why would anyone choose DoveSwap v3 when they can get 100x more volume and better security elsewhere?
Even within the Polygon ecosystem, DoveSwap v3 is invisible. Its TVL (Total Value Locked) is so low it doesn’t even show up on DefiLlama’s rankings. Meanwhile, Uniswap, Curve, and SushiSwap dominate across Ethereum and multiple Layer 2s. DoveSwap v3 doesn’t just trail the pack - it’s not in the race.
The Bottom Line
DoveSwap v3 is a ghost. It’s a prototype that never scaled. A project that launched, then vanished. The tech behind it isn’t bad - concentrated liquidity on zkEVM could be powerful. But without audits, without volume, without users, and without updates, it’s just code sitting on a blockchain with no purpose.
If you’re a developer experimenting with liquidity models, maybe you’ll tinker with it using test funds. But if you’re a trader, investor, or anyone who cares about safety and reliability - walk away. There are dozens of better DEXs on Polygon zkEVM, Arbitrum, and Optimism. You don’t need to risk your crypto on a dead project.
There’s no future here. Just noise.
Is DoveSwap v3 safe to use?
No, DoveSwap v3 is not safe. It has never been audited by any reputable security firm. The smart contracts are live on-chain with no way to fix bugs or vulnerabilities. There’s no emergency shutdown or recovery mechanism. Using it means risking your funds on untested code. Even small amounts could be lost to exploits.
What tokens can I trade on DoveSwap v3?
DoveSwap v3 supports only four tokens: USDC, WETH, DVS (its own token, if it even exists), and MATIC. That’s five trading pairs total. The most active pair is USDC/WETH, which accounts for nearly 70% of the platform’s entire trading volume. Most other pairs have virtually no activity.
Does DoveSwap v3 have a native token?
Yes, DoveSwap v3 has a token called DVS, but it serves no real function. There are no fee discounts, no staking rewards, no governance rights. It’s not listed on any major exchanges, and no one trades it. The token appears to be a placeholder with no economic utility.
Can I earn yield or stake on DoveSwap v3?
No. DoveSwap v3 does not offer staking, liquidity mining, or yield farming. The only way to earn anything is by providing liquidity to a trading pair - but with such low volume, your capital will sit idle with minimal fee income. You’re better off putting your funds into a well-audited DEX like SushiSwap or QuickSwap on Polygon.
Why is DoveSwap v3 so slow to update?
There’s no evidence of active development since its 2023 launch. No blog posts, no GitHub commits, no social media updates. The project appears abandoned. With no team activity, no community engagement, and zero media coverage, it’s likely the developers moved on. Projects like this often die quietly when funding runs out or interest fades.
Should I use DoveSwap v3 instead of Uniswap or PancakeSwap?
Absolutely not. Uniswap and PancakeSwap have billions in daily volume, multi-million dollar TVL, and have been audited multiple times. They’re battle-tested. DoveSwap v3 has less than $3,000 in total liquidity. Choosing it over established DEXs is like choosing a bicycle over a jet plane for a cross-country trip - you might get there, but you’ll be exhausted, slow, and at risk of breaking down.