DEX definition
Definition
Decentralized Exchange operating without central authority
DEX volume hit $1T in 2024; Curve specializes in stables, while Jupiter on Solana offers fast, low-fee swaps. Types: AMM (Uniswap), order book (dYdX). Volume Leaders (2025): Uniswap $400B annual, PancakeSwap $150B. Advantages: Self-custody, global access.
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