Decentralized Exchanges (DEXs)
Also known as: DEX, Decentralized Exchange
Blockchain-based platforms for peer-to-peer token trading without intermediaries.
Decentralized Exchanges (DEXs) are decentralized platforms that allow users to trade cryptocurrencies directly with one another via smart contracts, without centralized intermediaries. Trades are executed on-chain, custody remains with users, and pricing often relies on algorithms such as Automated Market Makers (AMMs). DEXs offer advantages like censorship resistance, global access, and composability with other DeFi protocols. Common DEXs include Uniswap, SushiSwap, and Curve, supporting trading, liquidity provision, and yield strategies.