Top 5 Decentralized Exchanges (DEX) in 2022

 If you've been trading cryptocurrency, you've most likely done it on centralized exchanges like Binance or Huobi. However, things have progressed significantly in recent years, and decentralized exchanges are gradually eroding the utility and usability of centralized platforms, which are still the most popular means for bitcoin users to trade.

DEXs, or decentralised exchanges, allow consumers to purchase and sell cryptocurrencies without the involvement of brokers. Users connect their cryptocurrency wallet to a DEX, choose their preferred crypto trading pair, enter the amount, and click the swap button.

Let's talk about the top five decentralized exchanges in this edition.

Uniswap

On Ethereum, Uniswap is a decentralized system for automated liquidity provision.
Uniswap, one of the first automated market makers, allows users to act as liquidity providers by donating assets to decentralized liquidity pools. Liquidity providers earn a passive income by sharing a portion of the fees their pool produces.
Uniswap V3 has been released, which improves the capital efficiency, execution, and infrastructure of the Uniswap platform. Even though competing protocols with a similar interface have arisen to rival Uniswap, the Uniswap team has managed to keep their platform new for consumers by developing it.

Curve

Curve is a decentralized exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading. Launched in January 2020, Curve allows users to trade between stablecoins with low slippage, low fee algorithm designed specifically for stablecoins and earning fees.

Curve is an Ethereum-based decentralized exchange liquidity pool. It was created with the following purposes in mind:

  • extremely effective, minimal slippage Fee income for liquidity providers, reliable cryptocurrency trading with low risk.
  • The gap between a trade's projected price and the price at which it is performed is known as slippage.

SushiSwap

SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain. SushiSwap is also non-custodial, which means that—unlike centralized exchanges—SushiSwap does not need to possess your tokens in order for you to be able to trade them. Instead, SushiSwap allows users to trade trustlessly, peer-to-peer, with liquidity that is supplied by other users.

The platform was one of the first DExs to launch on the Avalanche, Fantom, Harmony, and Celo blockchains, and has earned a reputation for being one of the first DExs to launch on new chains.
SushiSwap, as an automated market maker, allows users to earn money by contributing liquidity to the site. It also has a range of other features, such as a variety of yield pools, an on-chain lending solution, and a MISO launchpad.

SushiSwap, like most DEXs, has its own utility token, which is called SUSHI in this case. This token can be staked to receive a portion of the platform's trading fees as well as participate in the platform's governance.

MDEX

MDEX is a decentralized platform for cross-chain transactions and deployed on BSC, HECO and Ethereum. MDEX aims to integrate the advantages of multiple chains to build a high-performance compound DEX ecology. The dual mining mechanism of liquidity mining and transaction mining provides participants with maximum rewards. MDEX is now available on Heco and BSC, and users can use MDEX Bridge to complete cross-chain transactions on Heco, Ethereum, and BSC.

Despite the fact that gas taxes on the Ethereum blockchain will be reduced soon, MDEX has managed to surpass Uniswap in terms of market cap volume when both MDEX and MDEX (BSC) market cap volumes are considered. MDEX isn't bashful about claiming to be the world's largest DeFi ecosystem.

MDEX should be on your radar if you're looking for a decentralized exchange. Its user-friendliness and the services it provides have fueled remarkable growth for any decentralized exchange.

PancakeSwap

PancakeSwap is an Automated Market Maker (AMM) and decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.

PancakeSwap, like many of the other DEXs on our list, did not generate funds through an ICO or IDO. Instead, the PancakeSwap team directly bootstrapped it. Currently, the platform is funded by the PancakeSwap treasury, which receives a commission of 12 percent of all trading fees.
PancakeSwap offers a variety of yield farms, a Binance Coin prediction market, a lottery game, initial farm offerings, an NFT market, and more in addition to its DEX capabilities.


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