MAEXO

DEX (Decentralized Exchange)

Glossary

DeFi

DEX (Decentralized Exchange)

An exchange that runs entirely on smart contracts, with no central operator.

Definition

In depth

A DEX lets users swap tokens directly from their wallets, with prices set by automated market maker (AMM) pools rather than an order book. Uniswap, Curve, PancakeSwap and Jupiter are the largest. Trade-offs vs CEX: self-custody, no KYC, but you pay gas and may face slippage.

Related

Related terms

AMM (Automated Market Maker)

Pricing model used by DEXs where pool reserves set the price.

CEX (Centralized Exchange)

An exchange operated by a company that holds custody of user funds.

Liquidity pool

A pool of two tokens that powers AMM swaps and pays fees to providers.

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