DEXes · Review

Inactive

PlunderSwap V2 Review 2026: Zilliqa DEX Shutting Down

PlunderSwap V2 was the first decentralized exchange on Zilliqa's EVM, but the team has announced a shutdown and the site goes offline on 26 November 2026. Anyone with a liquidity position should withdraw it.

Zilliqa

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

2.5/10

Weak

Visit PlunderSwap V2

Our verdict on PlunderSwap V2

2.5/10

PlunderSwap V2 is a historical Zilliqa DEX rather than a venue to start using. The team says liquidity has gone, the site goes offline on 26 November 2026, and pools and bridged tokens have been hit by exploits. Existing liquidity providers should withdraw promptly. New users have little reason to trade here, and those interested in the code can look at the open-source frontend.

Score breakdown

How PlunderSwap V2 scores

Security: 2.0/10
Ease of use: 5.0/10
Fees: n/a
Features: 4.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is PlunderSwap V2?

PlunderSwap V2 is a decentralized exchange built on the Zilliqa EVM. DefiLlama describes it as the first DEX on that network, and it has been tracked since November 2023.

The project is winding down. Its homepage says there is no longer any liquidity on Zilliqa, and that Zilliqa is becoming an Ethereum Layer 2 for regulated institutions, so the DEX is no longer needed. The site goes offline on 26 November 2026.

The homepage also carries two security warnings. A Zilliqa node bug let ZRC2-backed tokens be spent without leaving the sender, which drained pools. Separately, about $800k was stolen from X-Bridge, leaving several bridged tokens unbacked. Tracked TVL is about $52.9k.

How PlunderSwap V2 works

PlunderSwap V2 is an automated market maker. Instead of an order book, users trade against liquidity pools holding two tokens. Prices follow a constant-product formula, so the ratio shifts as people trade.

Liquidity providers deposit both tokens of a pair and earn a share of trading fees. In V2, as in Uniswap V2, liquidity is spread across the entire price range rather than concentrated. Providers can lose value to impermanent loss when prices move.

The exchange ran on the Zilliqa EVM. It is now being wound down, and its frontend code is open source for anyone who wants to host their own copy.

5 features

Key features

V2 liquidity pools

V2 pools follow the constant-product model, with liquidity spread across the whole price range, as in Uniswap V2.

Token swaps

The interface offers a Trade page for token swaps on the Zilliqa EVM.

Bridge and cross-chain

The site links to a StealthEX cross-chain option and a Bridge page for moving assets to Zilliqa.

ZIL staking

The site includes a Stake ZIL page and a Validator Insights page. The team says its validator will keep running.

Open-source frontend

The team points to an open-source frontend that others can use to keep running the DEX.

Pros and cons

What we like

Was the first DEX on the Zilliqa EVM
Clear shutdown notice with a specific date and withdrawal instructions
Open-source frontend lets others keep the DEX running
Team plans to keep its staking validator running
Warned users about the exploited and unbacked tokens and removed them from the token list

Watch out for

The project has announced it is shutting down, and the site goes offline on 26 November 2026
Its homepage says there is no longer any liquidity on Zilliqa
A node bug has let ZRC2-backed tokens (SEED, zUSDT, ZOGE, kUSD) be spent without leaving the sender, and it was used to drain pools
About $800k was stolen from X-Bridge, leaving bridged zUSDC, zUSDT, zWBTC and XCAD unbacked
TVL is only about $52.9k, down 7.2% over seven days, and no audits are listed
No native token and no published fee details

PlunderSwap V2 fees

PlunderSwap does not publish fee details on its homepage. Swap fees and liquidity provider rates would be shown in the Trade and Pool interfaces, though those features are being wound down.

There is no native token. Users also pay network gas in ZIL.

Is PlunderSwap V2 safe?

No audits are listed for PlunderSwap V2, and the team behind it is not named. The main risks now come from the ecosystem. A Zilliqa node bug drained pools holding ZRC2-backed tokens, and X-Bridge lost around $800k, leaving the tokens it bridged without backing.

The shutdown is itself a risk. Funds left in liquidity positions after the site goes offline are harder to reach through the official interface, so withdraw them before 26 November 2026. Treat any token or bridge the team has flagged as unsafe.

5 steps

How to get started with PlunderSwap V2

1
Read the shutdown notice on the homepage and note the 26 November 2026 offline date.
2
If you hold a liquidity position, connect your wallet and open the Pool page.
3
Remove your liquidity and confirm the withdrawal in your wallet.
4
Avoid the tokens the team removed from its list (SEED, zUSDT, ZOGE, kUSD, zUSDC, zWBTC, XCAD) and do not bridge through X-Bridge.
5
If you want to keep trading on Zilliqa, check Zilliqa's own announcements, since the project is moving toward an Ethereum Layer 2.

Open PlunderSwap V2

Who PlunderSwap V2 is for

This page is mainly for existing liquidity providers and Zilliqa users who need to know what is happening and how to withdraw. It is not aimed at new traders, since the project is closing and liquidity is minimal.

PlunderSwap V2 FAQs

Is PlunderSwap shutting down?

The homepage says PlunderSwap is shutting down because there is no longer any liquidity on Zilliqa. It also says Zilliqa is becoming an Ethereum Layer 2 for regulated institutions, so the DEX is no longer needed.

When does PlunderSwap go offline?

The site is scheduled to go offline on 26 November 2026. Liquidity providers are asked to withdraw their positions before then. The team says its staking validator will keep running.

What should I do with my liquidity position?

Withdraw it through the Pool page before the shutdown date. The team has also warned against providing liquidity with the exploited or unbacked tokens it removed from the token list.

What happened with the ZRC2 token exploit?

The homepage says a bug in the Zilliqa node let ZRC2-backed tokens (SEED, zUSDT, ZOGE, kUSD) be spent without leaving the sender, and that this was used to drain pools holding them. Those tokens were removed from the token list.

Was PlunderSwap affected by the X-Bridge hack?

The homepage says around $800k was stolen from X-Bridge. Tokens bridged through it (zUSDC, zUSDT, zWBTC, XCAD) are no longer backed. Do not bridge through X-Bridge.

Can the exchange continue after the shutdown?

Yes. The team says anyone who wants to keep running the DEX can use its open-source frontend. Whether that brings back liquidity is not stated.

Compare

PlunderSwap V2 alternatives

All alternatives

Uniswap V3

DEXes

Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.

TVL $1.51B−3.7%Ethereum · Base · Arbitrum +38

Uniswap V4

DEXes

Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.

TVL $1.14B−2.9%Ethereum · Robinhood Chain · Base +19

Uniswap V2

DEXes

Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.

TVL $864M−4.1%Ethereum · Base · Polygon +14

PancakeSwap AMM V3

DEXes

PancakeSwap AMM V3 is a multichain decentralized exchange using concentrated liquidity pools, for traders and liquidity providers, led by BNB Chain.

TVL $694M−2.5%BNB Chain · Ethereum · Base +8

Project X

DEXes

Project X is a DEX on Hyperliquid offering token swaps and liquidity provision with advertised 0% fees, aimed at DeFi users in that ecosystem.

TVL $34.0M−6.4%Hyperliquid L1

Fluid DEX

DEXes

Fluid DEX is the trading layer of Instadapp's Fluid protocol, where LP positions can also serve as collateral on a shared liquidity layer.

TVL $216M−2.7%Ethereum · Arbitrum · Base +2

Same category

More DEXes

DEXes rankings

Curve

DEXes

Curve is a decentralized exchange on Ethereum built for low-slippage swaps of stablecoins and similar assets, with CRV governance and a crvUSD stablecoin.

Ethereum