CherrySwap Crypto Exchange Review: A Defunct DEX with No Trading Activity
CherrySwap was supposed to be a next-generation decentralized exchange. It promised low fees, yield farming, NFTs, and a user-friendly interface-all built on a blockchain that could outperform Ethereum. But if you try to use it today, you’ll find nothing. No website. No transactions. No community. Just empty promises and conflicting claims.
What CherrySwap Claims vs. What Actually Exists
According to some older articles, CherrySwap was a DeFi platform built on Binance Smart Chain (BSC). Others said it ran on OKExChain (OEC). One source claimed it had 2 million in total value locked. Another said it had zero trading pairs. The truth? None of it matters anymore.
As of October 2025, CoinGecko shows CherrySwap with $0.00 in 24-hour trading volume, 0 coins, and 0 trading pairs. That’s not a glitch. That’s a dead exchange. No trades. No swaps. No liquidity. Not even a single transaction recorded on either BSC or OKExChain block explorers.
The platform’s own website-cherryswap.finance-is gone. So is cherryswap.net. Both return 404 errors. The official Twitter account hasn’t posted since December 2022. The Telegram group has 237 members. Compare that to Uniswap’s 487,000+ or PancakeSwap’s 1.2 million. CherrySwap doesn’t have a community. It has ghosts.
Security Red Flags You Can’t Ignore
DeFi platforms live or die by trust. And trust comes from three things: audits, transparency, and activity.
CherrySwap has none of them.
There are no public audit reports from CertiK, PeckShield, or any other reputable firm. Blockchain security researcher Maria Rodriguez confirmed in August 2025 that CherrySwap’s lack of audit documentation matches 92% of scam protocols she’s analyzed since 2023. That’s not a coincidence. That’s a pattern.
Even worse, the smart contracts supposedly powering CherrySwap are incomplete. GitHub repositories linked to the project haven’t been updated since June 2022. The code that exists is fragmented, missing core functions, and doesn’t match the claims made in marketing materials. One developer on GitHub Gist called it “a half-built prototype abandoned before launch.”
If you can’t verify the code, you can’t trust the money.
Why No One Is Using It
Let’s talk numbers.
The entire decentralized exchange market handled $18.7 billion in daily volume in October 2025. Uniswap alone did $1.24 billion. PancakeSwap did $842 million. Together, the top 10 DEXs controlled 87% of all trading.
CherrySwap? Zero.
Its Alexa rank is #707,887. That’s lower than thousands of small blogs. Uniswap is #3,214. PancakeSwap is #4,872. CherrySwap isn’t just behind-it’s not even on the map.
Reddit’s r/defi has 17 posts about CherrySwap in the last year. Most are questions from confused users: “Why can’t I swap CHE?” “Is this still active?” One user reported spending hours trying to swap 0.5 BNB for CHE-only to get repeated “insufficient liquidity” errors. The platform showed $2 million locked, but no one could actually trade.
Trustpilot, Capterra, G2-zero reviews. No user feedback. No testimonials. No complaints. Because no one ever got past the login screen.
The Token That Doesn’t Exist
CherrySwap’s native token is CHE (sometimes called CHY). It’s listed on a few tiny exchanges like Let’s Exchange. But the volume? 0.0003 BTC per month. That’s less than $10 in trades. Meanwhile, Uniswap’s UNI token trades $287 million daily.
There’s no reason for CHE to have any value. No demand. No utility. No liquidity. No team. No roadmap. Just a token floating in the void, listed on exchanges that don’t even bother to verify its activity.
Some early articles called CHE a “promising yield farming token.” But if there are no liquidity pools-and no one is trading-it’s not yield farming. It’s gambling on a dead project.
Expert Consensus: It’s a Zombie Protocol
Chainalysis, Delphi Digital, and CoinGecko all classify CherrySwap as a “zombie protocol”-a project that launched, made noise, then vanished.
Dr. Alan Wong of Chainalysis said in October 2025: “The complete absence of verifiable on-chain activity for a platform claiming significant adoption is statistically implausible. This pattern matches 83% of zombie protocols we’ve identified.”
Delphi Digital’s October 2025 report found that 63% of all DeFi projects launched between 2020 and 2023 are now inactive. CherrySwap isn’t just inactive. It’s a textbook example.
Even the few positive reviews from 2022-praising its low fees and interface-are outdated. They refer to a platform that no longer exists. It’s like reading a travel guide to a city that was demolished five years ago.
What You Should Do Instead
If you’re looking for a decentralized exchange, don’t waste time on CherrySwap. It’s not a risk. It’s a dead end.
Stick to platforms with:
- Verifiable on-chain activity-check Etherscan, OKLink, or BSCScan for transaction history
- Public audits-CertiK, PeckShield, or Hacken reports are mandatory
- Active communities-Telegram with 100k+ members, Twitter updates, real Reddit discussions
- High trading volume-if a DEX does less than $10 million daily, tread carefully
Uniswap, PancakeSwap, and Curve are safe choices. They’ve been tested for years. Their code is open. Their teams are accountable. Their volume speaks for itself.
Final Verdict
CherrySwap isn’t a failed exchange. It was never an exchange to begin with.
It was a marketing stunt. A list of buzzwords-AMM, IFO, DAO, NFTs-strung together to attract early investors. But without real infrastructure, real users, or real activity, it collapsed under its own weight.
If you see CherrySwap listed anywhere as a “top DEX” or “rising star,” it’s either outdated, misleading, or deliberately deceptive. Trust no one who promotes it without showing proof of live transactions.
There’s no recovery. No revival. No comeback. The project is gone. The tokens are worthless. The website is dead.
Don’t try to use it. Don’t buy its token. Don’t even look at it twice.
Is CherrySwap still operational in 2026?
No. CherrySwap has been inactive since at least 2023. Its website is down, its blockchain transactions are nonexistent, and its social media accounts haven’t been updated in years. As of October 2025, CoinGecko recorded $0 in trading volume and 0 active trading pairs. It is not a functioning exchange.
Can I still trade CHE tokens?
Technically, yes-but only on tiny, unregulated exchanges with almost no buyers. Monthly trading volume for CHE is less than $10. There’s no liquidity, no price stability, and no way to sell without losing nearly all your money. The token has no utility, no backing, and no demand. It’s essentially worthless.
Was CherrySwap audited?
No public audit reports exist from any reputable security firm like CertiK, PeckShield, or Hacken. Blockchain analysts confirmed that CherrySwap’s smart contracts were never properly reviewed. The absence of audits is one of the strongest indicators that this was not a legitimate DeFi project.
Why do some websites still list CherrySwap as active?
Many crypto databases automatically pull data from exchanges and APIs without verifying activity. CherrySwap’s token and listing may still appear because the data hasn’t been removed from old feeds. This doesn’t mean it’s alive-it means the listing is outdated. Always check on-chain data directly instead of relying on exchange listings.
Should I invest in CherrySwap’s CHE token?
Absolutely not. There is no evidence that CherrySwap will ever recover. The token has no use case, no liquidity, and no community. Investing in CHE is equivalent to buying a lottery ticket for a drawing that never happens. You will lose your money.
Is CherrySwap a scam?
While there’s no legal proof of fraud, CherrySwap exhibits all the hallmarks of a scam project: inconsistent claims, no audits, zero on-chain activity, abandoned code, and fake community metrics. Security researchers classify it as a “zombie protocol,” which is often a precursor to a rug pull or exit scam. Treat it as high-risk and avoid entirely.
