What is a DEX?

A decentralized exchange (DEX) is a type of exchange that specializes in peer-to-peer transactions of cryptocurrencies and digital assets. Unlike centralized exchanges (CEXs), DEXs do not require a trusted third party, or intermediary, to facilitate the exchange of cryptoassets.

A core tenet of crypto is the disintermediation of finance, because it increases the economic freedom of individuals everywhere in the world no matter who they may be. DEXs are a core component of decentralized finance (DeFI). Arguably, without high-quality, liquid DEXs, DeFi wouldn’t have experienced the incredible growth it has.

Read more: What is DeFi?
What is a DEX?
DEXs exploded in popularity on Ethereum, but have since migrated to every blockchain with general purpose smart contract functionality. DEXs are important to a blockchain’s ecosystem, because they’re the first decentralized App (dAPP) that you typically interact with when arriving on a new chain. They are how you swap into and out of cryptoassets. In addition to facilitating exchange between different cryptoassets, many DEXs also have ways to earn cryptoassets without trading.

Read more: What's a DApp?

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What's decentralized finance?
What's decentralized finance?

Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.

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What's decentralized finance?
What's decentralized finance?

Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.

What's a DApp?
What's a DApp?

Understand the basics of Decentralized Applications (DApps) on decentralized networks; their features and their current limitations.

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What's a DApp?
What's a DApp?

Understand the basics of Decentralized Applications (DApps) on decentralized networks; their features and their current limitations.

What is liquidity?
What is liquidity?

Liquidity has several slightly different but interrelated meanings. For the purposes of crypto, liquidity most often refers to financial liquidity and market liquidity.

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What is liquidity?
What is liquidity?

Liquidity has several slightly different but interrelated meanings. For the purposes of crypto, liquidity most often refers to financial liquidity and market liquidity.

What is Ethereum?
What is Ethereum?

Understand Ethereum's key characteristics.

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What is Ethereum?
What is Ethereum?

Understand Ethereum's key characteristics.

What are ERC-20 tokens?
What are ERC-20 tokens?

Learn the basics of the Ethereum token standard, what ERC-20 tokens are used for, and how they work.

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What are ERC-20 tokens?
What are ERC-20 tokens?

Learn the basics of the Ethereum token standard, what ERC-20 tokens are used for, and how they work.

What's a smart contract?
What's a smart contract?

Get the basics on the "software" that runs on the Ethereum shared computer.

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What's a smart contract?
What's a smart contract?

Get the basics on the "software" that runs on the Ethereum shared computer.

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