Kyber uses a native token – Kyber Network Crystals ($KNC) – for governance and a claim on trading fees. Kyber’s DEX – Kyber Swap – has seen significant growth in recent months and is expected to lead as one of the top DEXs throughout 2020. Kyber Network is a leading liquidity protocol that incentivizes Reserve Managers to contribute to an aggregated pool of liquidity for a pro-rata share of 0.3% trading fees.
dYdX offers spot markets for seamless conversion between supported assets like Dai, USDC, and ETH. Users can purchase smart contract covers on dYdX using Nexus Mutual. Capital supplied on dYdX collects interest even while it is being used on an active trading position. Better yet, dYdX provides cross-margin lending and borrowing, meaning users earn passive income while supported assets sit on the exchange. Certain projects – like Synthetix – offer incentives for seeding liquidity on UniswapĭYdX is unique as it allows users to go long or short on Ether with up to 5x leverage in a permissionless fashion. Applications can seamlessly integrate a Uniswap front-end into their product. Aave recently introduced a Uniswap Money Market – allowing users to post UNI LP tokens as collateral for a loan. Uniswap currently does not have a native token, meaning liquidity providers earn the fees dominated in the assets within their respective market. Liquidity providers earn a pro-rata portion of the 0.3% trading fees each time the trading pair is used. Trading with Uniswap is trustless and permissionless thanks to liquidity pools which allow anyone to create or seed a market by supplying it an equal value of the two ERC20 tokens being paired. Uniswap offers a simple one-click interface to swap any two Ethereum assets against an underlying liquidity pool. Dune Analytics offers an awesome interface for quickly seeing which DEXs have had the most volume in the past 24 hours.įor your convenience, we’ve aggregated a list of our top picks on the DEX market today: Uniswap In a rapidly developing market, it’s important to ensure users are trading on a trusted exchange. No profile or background information is required. Pseudo-anonymous – Users simply connect a wallet of their choice to start trading. Intuitive – Newer trends have evolved DEX trading from order books to simple point and click swaps. Globally Accessible – Most DEXs do note require any sign-ups, and largely come with no counterparty risk. Cost-Efficient – Many DEXs have minimal trading fees, allowing users to swap assets at little to no cost. Automated – With no intermediaries, DEX trading is instantaneous so long as there is sufficient liquidity. Non-custodial – Ownership of the underlying assets is never revoked. Some of the most notable aspects of DEXs include: In the past year alone, DEXs have made serious improvements in both usability and liquidity – signaling that they are ready to compete with their goliath counterparts. 
Gox in 2014 and Quadriga in 2018, many traders have come to recognize the value of non-custodial solutions offered by decentralized exchanges. Despite these notions, many have been quick to point out that centralized exchanges come with their own inherent risks – namely those of custody.įamously highlighted by hacks on once-prominent exchanges like Mt. When it comes to exchanging crypto, many have long been focused on centralized players like Binance or Coinbase largely due to their fiat onramps and ease of use.
#LIST OF DEFI COINS ON BINANCE FULL#
With that, be sure to keep a close eye on impermanent loss as it’s sure to come and bite you in the midst of a full blown bull market! An Overview on DEXs Long story short, there’s never been stronger incentives to provide liquidity to the DEX ecosystem. Curve is debuting it’s new CRV governance token and rewarding LPs handsomely for doing so. Balancer has made a suite of adjustments to its Liquidity Mining program in which users can earn BAL governance tokens for providing liquidity by focusing on useful liquidity and penalizing those looking to game the distribution.īancor V2 is quietly rolling out its new pools with LINK, LEND, REN, renBTC, SNX and more in the coming weeks. Now, DEXs are competing to capture market share in the rapidly growing sector. Most notably highlighted by the rise of Uniswap, dYdX, Balancer and Curve, DEXs have quickly taken center stage as the primary market for new DeFi tokens.
Looking to stay up with emerging trends from DeFi DEXs? Check out our newsletter! Decentralized Exchanges News 2021Īugust is shaping up to the biggest month for DEXs to date. With optimized usability, deeper liquidity, and emerging composability, the DEX ecosystem is as strong as ever. 2020 was the year for decentralized exchanges (herein referred to as DEXs) to take the mainstage and 2021 will be when they mature and possibly become mainstream.
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