Crypto Narratives: The DEx
I have been thinking for quite some time during the break that I took from writing content on Medium. I was burned out and needed some time to collect my thoughts and really consider the purpose behind my crypto investments. This led me to consider the idea of crypto narratives. Over the next few articles, I will discuss different narratives in the crypto and DeFi space. Starting with decentralized exchanges or DExs in this article. The DEx narrative is rather simple to get your head around but a bit harder for mainstream investors to see the purpose behind. Simply put, it is a market place to pool liquidity and trade value away from the clutches of government and centralized financial institutions. Coinbase defines the DEx model as “peer to peer” and emphasizes the lack of officiation by bankers and brokers as a key component of the decentralized exchange model. This narrative is a key component in the drive towards a fully autonomous decentralized financial system.
The biggest drawback of DExs is that they are highly experimental in nature and have not been around for long, they have not yet stood the test of time. In their current form they are fairly complex and are perhaps not intuitive to use for those that are new to the crypto space. They contain a number of different features and require the user to become literate with their function. This can be a lot of reading of white papers and…
