Top 6 DEX - Decentralized Exchanges
The world is a global village, almost everyone is investing in cryptocurrency hence there is a need for one to know more about the top six DEXes for investment in crypto and it is pertinent to at least know what a DEX means before venturing into the top six DEXes in crypto.
What is DEX?
DEX is a decentralized crypto exchange run by code from peer to peer, it is a system whereby people can trade cryptocurrency without a middleman and every transaction is generally written on a blockchain run by a decentralized application (DApps). DEX has no middleman when it comes to trades and this is because all trades are done between two peers with developers who manage the platforms and all aspect of DEXes. In getting involved in the DEX crypto exchange, one must bring into cognizance that a team of developers is always involved in working on the DEX code and developers may also get involved in the addition or subtraction of coins for trade.
It is also of utmost significance to note that the DEX crypto has outperformed its counterparts by five times this year with an average increase of 240% according to DeFi Pulse. While centralize exchange tokens have only increased with just a figure of about 44% this year, the DEX token has increased with an overwhelming figure of 241% this year.
According to reports, most top DEX has a major upgrade plan. This indicates that every major DEX will soon undergo scalability, upgrade, driving up interest, liquidity incentives in their tokens which will in turn be very profitable and beneficial to investors. In as much as investing in DEX is Paramount for growth, it also has its own set back which includes; the inability to reverse a transaction once it is made hence an individual must be fully convinced about indulging in DEX crypto before fully getting involved in it. Another set back is that it is no customer service, it is run by a peer to peer code and each investor is directly linked to his peer.
In the year 2020 and with the rise of Ethereum, DEX has grown in trading and in just last week it spiked with about 68% and about $2.4 billion was swapped on those exchanges. Dune analytics also showed that about $448 million worth was also swapped in the last 24 hours. DEX platforms on ethereums have exploded with demands from investors and every week DEX volume keeps swelling higher and higher and this will introduce us to the top five DEX platforms.
Curve finance is a stable coin trading and a liquidity aggregator that centers on decentralizing Ethereums exchange that promotes the creation of liquidity by offering incentives. It has rapidly become a leading Ethereum and it is the latest Ethereums with a finance offering users to earn on their cryptocurrency and to trade altcoins in a decentralized manner. This cryptocurrency was launched in January 2020 by a team led by Michael Egorov the founder of NuCypher with a Ph.D. in physics and on 13th of August 2020 the curve developers team rolled out CRV to the Ethereums community for investment and the 3% of the distributed supply has already been increased to 5% as a means to reward those that have supported its growth since its inception and it is also working on decentralizing its ownership through a token and all liquidity providers since its inception in January will be considered for the distribution.
Balancer is an automatic market maker, with a decentralized exchange and a liquidity pool code of conduct that allows users to provide liquidity for multiple assets that keep occurring at the same time. Balancer enables users to earn fees on their Ethereums which serves as an investment. Investors can deposit their portfolios into balancers self re-balancing LPs and earn as multiple users trade against their portfolios. Balancer price stands at about $25.26USD and one unique aspect of the balancer is that, instead of paying fees to portfolio managers to rebalance a portfolio, you can collect fees from traders who rebalance your portfolio thereby making you earn a return for providing liquidity as a trader swap between assets in the liquidity pool and this is not to also rule out that balancer charges a percentage on each trade being made and this charges goes entirely to the pool liquidity providers.
Uniswap is a protocol for an automatic token exchange on Ethereum and it was launched on the 2nd of November 2018. Uniswap has a unique style for pooling liquidity reserves which serves as an open-source interface for traders and liquidity providers for free in a decentralized exchanged manner. Uniswap is a simple smart interface for swapping token in there. It also empowers liquidity providers and traders to get involved and participate in their market place that is accessible to everyone for investment.
Bancor is a crypto protocol that enhances the creation of tokens through a decentralized exchanged service. It is liquidity that enables automatic decentralized exchange on Ethereum and blockchains. It is made up of a series of smart contracts designed to enhance liquidity and perform contract trades in a single transaction with no duplicated third party. Bancor has processed an estimated $2 billion in trade volume across thousands of tokens in Ethereum with millions of fees generated by stakes.
Loopring is an automatic execution system in Ethereum and it allows users to exchange and trade assets. Loopring is decentralized and also a blockchain agnostic and this means that any platforms that use smart contracts can easily integrate with loopring. Loopring is also an open-source and noncustodial exchange protocols and this means that nobody in loopring ecological community needs to trust anyone. So each individual is responsible for their transactions but with 100% Ethereum level security guarantees.
The world is changing, and the use of trading tools have been beneficial to several sectors of the market. This steps can be seen in the growth of crypto exchanges such as DEX, as they work towards bringing more crypto enthusiast together.
EazySwap, a sub-platform of BitForex Crypto-currency Exchange will launch on September 5, 2020. EazySwap has one of the most professional and advances semi-decentralized matching Protocols, all the trading records and data will be able to trace by the ERC-20 Blockchain system, EazySwap also provides the most user-friendly structure which designed to solve the "High Gas Fee" problem, while still remain its decentralized advantage. 0 gas fee is charged for any transaction in the system. also, EazySwap will be rewarded up to 80% of the trading fees to each liquidity pool provider.
EazySwap currently supports ERC20 based token and many more mainnet token will be supported soon.
With a low barrier of listing requirements for the project, a unique rewarding system for the user and liquidity provider and one of the most professional and advance semi-decentralized matching Protocol with 100% trading data on-chain structure, EazySwap hope to booth up the Defi market and your participation will make us together achieve this historical and revolutionary moment.
BitForex is an exchange service platform that can be classified as one of the Top 10 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.
BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts, derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.