Sep, 13 2025
Crypto Exchange Health Checker
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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.