What is a DEX?
A decentralized exchange allows peer-to-peer trading of cryptocurrencies without intermediaries. Users trade directly from their wallets.
DEX Types
- AMM-based: Uniswap, Curve (use liquidity pools)
- Order book: dYdX, Serum (match buyers/sellers)
- Aggregators: 1inch, Paraswap (find best prices)
Benefits
- Self-custody (keep your keys)
- No KYC required
- Access to more tokens
- Transparent operations