What is a DEX?

A decentralized exchange (DEX) is a type of exchange that specializes in peer-to-peer transactions of cryptocurrencies and digital assets. Unlike centralized exchanges (CEXs), DEXs do not require a trusted third party, or intermediary, to facilitate the exchange of cryptoassets.

A core tenet of crypto is the disintermediation of finance, because it increases the economic freedom of individuals everywhere in the world no matter who they may be. DEXs are a core component of decentralized finance (DeFI). Arguably, without high-quality, liquid DEXs, DeFi wouldn’t have experienced the incredible growth it has.

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