Decentralized Exchanges (DEXes) Summary 🌐📊
Decentralized exchanges (DEXes) offer peer-to-peer cryptocurrency trading without a central authority. They emphasize user autonomy and security. Here’s a brief overview of some of the top DEXes:
dYdX 🔄
Founded in 2017 by ex-Coinbase engineer, Antonio Juliana.
Focused on cryptocurrency perpetual trading.
Uses StarkWare’s layer two solutions for security and low fees.
Market share: 25%, with 25,000 global traders.
2. Uniswap 🦄
Based on Ethereum blockchain.
Native token: UNI.
Offers low transaction fees, vast crypto choices, and user autonomy.
3. Pancake Swap 🥞
Built on Binance Smart Chain (BSC).
Native token: CAKE.
Features include daily lottery and NFTs.
4. Curve Finance 🔃
Specializes in efficient on-chain stablecoin trading.
Includes liquidity pool rewards and low fees.
5. Apex Pro 🌄
Launched in 2022 on the Abitrum blockchain.
Offers advanced trading features and utilizes StarkWare’s layer two solutions.
6. Balancer ⚖
Ethereum-based.
Users can create customizable liquidity pools.
7. Sushi Swap 🍣
Started as a Uniswap clone.
Supports multiple blockchains and offers several ways to earn.
8. Trader Joe 🤵
Built on Avalanche.
Features decentralized NFT marketplace and a unique earning system.
These DEXes come with various pros, such as low fees, user-friendly interfaces, and multiple earning opportunities, and cons, such as high gas fees on Ethereum-based DEXes and limitations on supported tokens.
🚀 DEXes are continually evolving, providing traders with diverse options and features.
To dive deeper, check out the complete article: https://droomdroom.com/top-dex-projects/
