Recently, more and more decentralized exchange (DEX) tokens have come onto the market. But what are currently the largest DEX tokens? The five largest decentralized exchange tokens are examined below.
In addition, the popularity of decentralized exchanges has increased dramatically in the last few months. Uniswap even overtook Coinbase in September, recording a trading volume of $ 15 billion
The main advantage of a DEX is that it does not have a central intermediary. As a result, you no longer have to hand over your assets to a central exchange, but remain in control of your cryptocurrencies. In addition, various coins can be listed on a Bitcoin Bank scam without much effort. In addition, users have more privacy, less market manipulation, sometimes better liquidity and often an accessible user interface.
However, for some trading pairs, the decentralized exchanges need to improve the depth of liquidity, accelerate the speed of order execution, and lower the fees. Even if the trading volume on the decentralized exchange decreased in October, a clear trend of steady growth can be seen.
SushiSwap (SUSHI): Market capitalization $ 67 million
SushiSwap is a fork of the Uniswap protocol . The SUSHI token grants the holder control over the decentralized exchange protocol and pays part of the collected trading fees plus the SUSHI token to the liquidity providers.
In addition, for the governance of the protocol, SUSHI token holders can submit a SushiSwap improvement proposal (SIP), which the community can vote on with SUSHI tokens.
The aim of SushiSwap is to be a further development of Uniswap. But after Uniswap has distributed its UNI token , the two DEXs are even more similar than before.
The main difference is that some key parameters such as trading fees and the amount of payouts to liquidity providers are different. SushiSwap strives for a fairer distribution of profits and also wants to give smaller investors the opportunity to provide profitable liquidity.