Crypto Currency Decentralized Exchanges
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Decentralized exchanges or DEXs are autonomous decentralized applications (DApps) that allow cryptocurrency buyers or sellers trade without having to give up control over their funds to any intermediary or custodian.
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This type of infrastructure is entirely different from centralized exchanges where users hand over their crypto assets to the exchange, which acts as a custodian and essentially issues IOUs for users to trade with on the platform.
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DEXs were initially conceptualized to eliminate the need for any authority to supervise and approve trades made within a particular exchange. Through the help of smart contracts, DEXs operate automated order books (or automated market makers) and trades. This makes them "truly peer-to-peer".
Source = CoinMarketcap
Decentralized Exchanges
Below you will see a list of some of the popular decentralized exchanges.
Pancake Swap
PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
The LP tokens are called FLIP tokens. PancakeSwap also allows users to farm additional tokens – CAKE and SYRUP. On the farm, users can deposit LP tokens, locking them up in a process that rewards users with CAKE. Users can stake CAKE tokens to receive SYRUP, which will have further functionality as governance tokens (and as tickets in a lotteries).
MDEX
Mdex is an automatic market-making decentralized exchange based on the concept of fund pools. MDEX proposes and implements a mix-chain DEX model based on the Heco Chain and Ethereum. Mdex combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem. With MDEX, users can also await dual mining mechanism of liquidity and transactions.
Uniswap
Uniswap is a protocol for automated token exchange on Ethereum. It was launched on November 2, 2018. Uniswap describes itself as a simple smart contract interface for swapping ERC20 tokens. It has a formalized model for pooling liquidity reserves. It serves as an open-source frontend interface for traders and liquidity providers and is committed to providing free and decentralized asset exchange.
1inch
1inch is a DeFi aggregator and a decentralized exchange with smart routing. The core protocol connects a large number of decentralized and centralized platforms in order to minimize price slippage and find the optimal trade for the users. 1inch platform provides a variety of features in addition to swaps. Users can trade via limit orders, deposit funds into lending protocols, move coins between different liquidity pools, and this list expands constantly.
Sushiswap
SushiSwap is a Uniswap fork built with the idea of stripping power from VCs and returning it to the community.
QuickSwap
Quickswap is a fork of the originator of Automated Market Makers in the now rapidly expanding DeFi sector of the cryptocurrency industry, Uniswap.
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