Sep, 13 2025
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If you’re looking for a new crypto exchange to try, you might have come across SoupSwap. It sounds promising - multi-ecosystem, MBPoS consensus, no middlemen. But here’s the truth: as of November 2025, SoupSwap isn’t just quiet. It’s practically gone.
What Is SoupSwap Supposed to Be?
SoupSwap is a decentralized finance (DeFi) platform built on Binance Smart Chain (BSC). It launched in 2021 with big claims: eliminate restrictions, support thousands of dApps, and offer a new kind of staking called Multi-Bonded Proof of Stake (MBPoS). The idea was simple - let users stake different tokens without locking their value or limiting what they can do with them. Sounds good on paper. But here’s the problem: none of that actually works in practice. There’s no public smart contract address. No audit reports from CertiK, Hacken, or any reputable firm. No GitHub activity since 2022. No Discord, no Telegram, no active Twitter account. If you search for SoupSwap on Reddit, Bitcointalk, or even CryptoSlate, you’ll find zero user discussions. Not one review. Not one complaint. Not one success story.Why SoupSwap Shows Up as “Untracked” on CoinMarketCap
CoinMarketCap lists SoupSwap as “Untracked.” That’s not a badge of honor - it’s a red flag. This status means the platform doesn’t have enough trading volume to be measured. In fact, CoinMarketCap’s own system puts it in Tier B-3, the lowest category for platforms with no reliable data. Compare that to real DeFi players. Uniswap moved $324.7 billion in Q3 2025. PancakeSwap did $189.3 billion. Even smaller platforms like SashimiSwap have measurable activity. SoupSwap? Zero volume. No liquidity pools. No token swaps recorded on BSC explorers. If no one’s trading on it, it’s not a crypto exchange - it’s a ghost.MBPoS: A Feature That Doesn’t Exist
SoupSwap’s biggest selling point is MBPoS - Multi-Bonded Proof of Stake. According to its website (soupsswap.io - yes, that’s a typo), this system lets you stake multiple assets without losing value. Sounds innovative? Maybe. But no blockchain analyst, researcher, or developer has ever verified how it works. Real staking protocols like StakeWise or Lido have transparent code, audit reports, and public dashboards showing staked amounts. SoupSwap? Nothing. No staking interface you can access. No token supply data. No withdrawal history. If MBPoS were real, you’d see at least one transaction on BscScan. You don’t.No Wallet Integration? No Way to Use It
You can’t use SoupSwap if you can’t connect your wallet. And you can’t connect your wallet because SoupSwap doesn’t support MetaMask, Trust Wallet, or any other major DeFi wallet. There’s no button to “Connect Wallet” on their site - because there’s no functional frontend. Even if you typed in the URL manually, you’d find a static page with vague marketing copy and no interactive elements. Compare that to SimpleSwap or GhostSwap, which let you swap 1,500+ tokens with just a few clicks. They integrate with MetaMask, have live support, and update their interfaces regularly. SoupSwap? It’s a digital ghost town.
Why No One Talks About SoupSwap
You’d think at least one person tried it and left a review. But no. Not on Trustpilot. Not on Reddit. Not on YouTube. Not even on obscure crypto forums. Zero mentions. Zero tutorials. Zero YouTube walkthroughs. That’s not normal. Even failed projects get at least one angry comment. Meanwhile, platforms like Uniswap have 427,000 Twitter followers and 1,800 GitHub stars. SoupSwap? No GitHub repo. No commits. No contributors. No documentation. No developer updates since 2022.Security Risks: No Audits, No Transparency
In 2025, 78% of exploited DeFi protocols had no third-party audit. SoupSwap falls squarely in that category. No audit. No bug bounty program. No security team listed. No public wallet addresses for token contracts. That’s not just risky - it’s dangerous. If you send crypto to a contract that’s never been checked, you’re gambling. And in DeFi, gambling with your funds usually ends in loss. Even small platforms like SushiSwap or KyberSwap publish audit reports. SoupSwap doesn’t even pretend to.Market Context: SoupSwap Is Invisible
The DeFi swap market hit $1.2 trillion in annual trading volume in Q3 2025. Uniswap, PancakeSwap, and Curve Finance control over 60% of that. SoupSwap? It doesn’t register on the radar. Less than 0.01% market share. Not even in the top 500 DeFi protocols by volume. Institutional investors? Zero. Gauntlet Network’s dashboard shows no institutional users. Regulators? No mentions in SEC filings. Industry reports from Messari or Delphi Digital? Not a single reference.
Is SoupSwap Still Operating?
The answer is almost certainly no. Messari’s November 2025 report found that 83% of DeFi platforms with zero trading volume for over 180 days become completely inactive. SoupSwap hasn’t had volume for over two years. No updates. No new tokens. No partnerships. No team announcements. The only thing still online is a static website with outdated claims. That’s not a platform - it’s a digital tombstone.What to Use Instead
If you want a real DeFi exchange, don’t waste time on SoupSwap. Here are better options:- PancakeSwap - Best for BSC users. Low fees, high liquidity, active community.
- Uniswap - Top choice for Ethereum and multi-chain swaps.
- SimpleSwap - Supports fiat on-ramps and 1,500+ tokens with no KYC.
- GhostSwap - Cross-chain swaps, clean UI, verified contracts.
Leo Lanham
November 7, 2025 AT 06:27This SoupSwap thing is a scam dressed up like a startup. Zero activity, zero audits, zero brain cells behind it. People still falling for this? Bro, go touch grass.
And no, I'm not mad. I'm just disappointed in humanity.
Brian Webb
November 7, 2025 AT 09:52I actually checked this out last year when I saw it pop up in a Reddit ad. Took me 10 minutes to realize it was a ghost site. No wallet connect button, no docs, nothing. I felt bad for whoever paid for that domain.
It's wild how many of these projects just vanish after a flashy launch video.
Whitney Fleras
November 8, 2025 AT 09:52It's sad when projects like this get attention because they sound cool on paper. Real DeFi is about transparency, not buzzwords.
At least the author gave us alternatives - that’s the real value here.
Colin Byrne
November 9, 2025 AT 22:36One must consider the epistemological implications of a DeFi platform that exists solely as a static HTML page. The ontological void left by the absence of a GitHub repository, audit trail, or even a single transaction on BscScan suggests not merely abandonment, but a fundamental failure of the project’s very raison d'être.
One might argue that SoupSwap represents the apotheosis of crypto vaporware - a digital phantom haunting the ledger of speculative capitalism. The fact that it was ever listed on any aggregator speaks volumes about the current state of market diligence.
Allison Doumith
November 11, 2025 AT 18:44Scot Henry
November 13, 2025 AT 11:48Man I tried to connect my wallet to SoupSwap last summer. Just a blank screen. Thought my MetaMask was broken. Turned out the site literally had no JS. Just a banner and a 2021 slogan.
Wasted 20 minutes of my life. Don't let it happen to you.
Sunidhi Arakere
November 14, 2025 AT 16:48This is a very clear and well-researched analysis. I am from India and have seen many such projects here too. They promise big, deliver nothing, and vanish. Always check for audits and community before investing.
Thank you for the honest review.
Vivian Efthimiopoulou
November 15, 2025 AT 19:14Let us not forget: the architecture of trust in decentralized finance is built upon transparency, verifiability, and accountability. SoupSwap, in its complete absence of these pillars, does not merely fail - it negates the foundational ethos of DeFi itself.
It is not a platform. It is a cautionary tale encoded in HTML. May this serve as a monument to the perils of hype over substance. The blockchain remembers. The market forgives nothing.
Fred Kärblane
November 17, 2025 AT 08:22MBPoS? More like Make Believe Proof of Stake. This is the kind of jargon that gets retail investors to throw money at a blank screen.
Real protocols don’t need buzzwords - they need code, audits, and users. SoupSwap has none. It’s a 2025 relic wrapped in vapor.
gerald buddiman
November 18, 2025 AT 06:51Wait wait wait - I just checked the domain… soupsswap.io? That’s not even the right spelling?!
They misspelled ‘SoupSwap’ in their own URL and people still thought this was legit??
That’s not negligence - that’s a neon sign screaming SCAM.
Arjun Ullas
November 19, 2025 AT 10:22It is a disgrace that such a project ever received any visibility. In India, we have seen numerous fraudulent DeFi platforms that vanish after raising funds. This is no different. The absence of audit reports, GitHub activity, and community engagement is not an oversight - it is a deliberate design of deception.
Regulators must act against such entities before more retail investors are harmed.
Steven Lam
November 20, 2025 AT 10:34Noah Roelofsn
November 22, 2025 AT 02:55SoupSwap isn’t just a dead project - it’s a graveyard of misplaced hope. The website looks like it was built by someone who googled ‘how to make a crypto site in 10 minutes’ and then immediately quit.
It’s the crypto equivalent of a Myspace page from 2007 with a ‘coming soon’ banner that never came.
At least the domain owner got a good laugh out of it.
Sierra Rustami
November 22, 2025 AT 18:20Glen Meyer
November 23, 2025 AT 13:54Christopher Evans
November 24, 2025 AT 01:29It is regrettable that the absence of verifiable technical infrastructure is not universally recognized as a disqualifying criterion for participation in financial systems. SoupSwap exemplifies the erosion of due diligence in decentralized finance.
One must conclude that the platform's operational nonexistence renders any further analysis redundant.
Ryan McCarthy
November 25, 2025 AT 07:34I appreciate the thorough breakdown here - it’s exactly the kind of clarity the crypto space needs right now.
It’s easy to get sucked in by flashy names and buzzwords, but real value always shows up in the code, the community, and the consistency.
Thanks for pointing out the real alternatives too. I’ll be sharing this with my new crypto friends who keep asking me about ‘the next big thing’ - this is the perfect answer.