DEXs
DEXs are decentralized exchanges, a type of cryptocurrency exchange that operates on a blockchain and allows users to trade cryptocurrencies directly with each other without the need for a central authority.
Unlike centralized exchanges, which hold users' funds and rely on centralized servers and databases, DEXs use smart contracts on a blockchain to execute trades and manage the exchange's order book. This allows users to remain in control of their own funds at all times and there is no single point of failure.
DEXs are built on different blockchain, such as Ethereum, EOS, TRON, and Binance Smart Chain.
They also have different ways of trading, such as Automated Market Maker (AMM), Order Book, and Hybrid.
Some popular DEXs include:
- Uniswap
- SushiSwap
- 0x, and Kyber Network
Please be aware that DEXs are still a relatively new technology and there is a lot of innovation happening in this space.
Be aware of the trade-offs and the risks involved when using DEXs, such as lower liquidity and higher volatility.
DEX on XRPL
Several decentralized exchanges (DEXs) are built on the XRP Ledger, also known as the Ripple protocol. These DEXs allow users to trade XRP and other assets that are issued on the XRP Ledger, such as other cryptocurrencies and digital assets.
Some examples of DEXs that are built on the XRP Ledger include:
- XRPL DEX
- XRPTipBot
- Bithomp
- XRPScan
It's important to note that these DEXs may have different features, user interfaces, and trading capabilities.
Also, it's always a good idea to do your own research and evaluate the security, reliability and the team behind the project before using any exchange, centralized or decentralized.
Learning Resource
MickeyBFresh has a video that explains the importance of the XRP DEX and its Automated Market Maker (AMM).
See: The Vision for XRP Part 1 and Part 2
DEX on Stellar
From the looks of it, there is a Stellear Decentralized Exchange that is a decentralized trading platform built on the Stellar network. Several individual programming entities have build UI to enable people to interact with the DEX.
Stellerterm built by Lobstr.