Top Decentralized Exchanges (DEX)Between Blockchains
So, before we hop into the TOP DEXES BETWEEN BLOCKCHAINS what exactly is a Decentralized Exchange (DEX)? The first thing you’d look for in a DEX guide would be the definition of decentralized exchange. DEXs are essentially peer-to-peer marketplaces, similar to stock exchanges, where cryptocurrency traders can conduct direct transactions. The most notable feature of decentralized exchanges is that they do not delegate responsibility for managing your funds to custodians or intermediaries. DEXs can ensure transactions by utilizing smart contracts, which are self-executing agreements defined in code.
So now that you’ve just read what a Decentralized Exchange (DEX) basically is, here’s the Top Decentralized Exchanges (DEX )Between Blockchains you came here for.
· PANCAKE SWAP
Volume 24H : $511M
TVL : $4.85B
Blockchain : Binance Smart Chain
PancakeSwap is the leading decentralized exchange on Binance Smart Chain, with the highest trading volumes in the market (sources: 1 2). Why pay more? PancakeSwap runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. Trading fees are lower than other top decentralized exchanges too, so that’s a double win for you! Trade directly from your wallet app. Unlike centralized exchanges like Binance or Coinbase, PancakeSwap doesn’t hold your funds when you trade: you have 100% ownership of your own crypto. Earn CAKE and other tokens for free with super high interest rates. Stake CAKE, earn free tokens. It’s really that easy. CAKE holders right now are earning tens of millions of USD worth of free tokens each week from major projects. New projects join the party every day, so you can earn more, for even longer. Stake LP tokens, earn CAKE. You take on a little more exposure to market fluctuations than with the Syrup Pools, but can earn higher APR to offset the risk. No farm? No problem. Even if your trading pair isn’t supported on the Farms page, you can still earn trading fees when you stake your tokens in Liquidity Pools (LPs). PancakeSwap makes making money fun. Millions of dollars regularly go up for grabs on the PancakeSwap Lottery. Join as many as 11,000 daily players for your chance to win big! Win collectible NFTs for participating in trading competitions and more fun & games. Win BNB if you can predict whether the BNB price will rise or fall. New rounds every 5 minutes!
· SPOOKYSWAP
Volume 24H : $336M
TVL : $1.44B
Blockchain : fantom
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. Different from other DEXs, we’re invested in building a strong foundation with our BOO token as a governance token, diverse farms, a built in bridge, built in limit orders and user-centered service. As of its launch in April 2021, Spooky has:
- Earned endorsement and support from Fantom Foundation
- Passed 7 proposals with the community with BOO as the governance token
- Held airdrop event with Alchemix, Alpha Finance Labs
- Added official WOOFY sponsored farm
- Established partnership with Popsicle
- Maintained the lowest swap fee of 0.2% (0.22% for limit orders), and most diverse farms on the Fantom network
- Been fully audited by Certik
- Made a bridge for Fantom crossing to and from Ethereum, BSC, Polygon, Avalanche, Arbitrum, and OKExChain
- Been listed on CEX, Hotbit
- Supports Coinbase Wallet
- Became the top TVL holder for native Fantom protocols
· SERUM
Volume 24 : $309M
TVL : $945M
Blockchain : Solana
Serum is a protocol and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless. Ecosystem partners can compose with Serum’s on-chain central limit orderbook to share liquidity and power markets-based features for institutional and retail users.
More specifically, Serum’s on-chain central limit order book and matching engine provides liquidity and price-time-priority matching to traders and composing projects. Users benefit from this exchange model through the ability to choose the price, size and direction of their trades. Composing projects benefit from Serum’s existing architecture, bootstrapped liquidity, and matching service.
In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers were limited by high gas costs and slow transactions. Serum’s aim was to solve these problems, and improve issues of centralization, capital inefficiency, and liquidity segmentation.
Serum launched on the 31st of August 2020 and was one of the first major open source projects to build on Solana. It is supported by the Serum Foundation, and backed by a consortium of experts in cryptocurrency trading and decentralized finance, including FTX, Alameda Research, and the Solana Foundation.
Serum Core
· Asset Agnostic order book for matching any Solana based trading product from options, futures, borrow lending positions, or any financial and non-financial instrument that can take advantage of Serum’s backend matching engine.
True Composability
· Serum makes it possible for a diverse range of applications and participants to share middleware in one place. The design of the AOB makes Serum’s architecture more suited to modularity. Programs that use Serum will have more flexibility, all while maintaining some standard design principles and composability.
Developer Ecosystem and Services
· Decentralized on chain order matching service that provides infrastructure for trading applications, giving developers full control and flexibility.
· Permissioned markets allow for even greater flexibility and compliance.
· Serum DEX, built on top of the Asset Agnostic Order book provides the ecosystem with a greater source of pooled liquidity and shared resource to power based trading features.
Serum Token (SRM)
· SRM is the utility and governance token of the Serum ecosystem
· SRM will be fully integrated into Serum and benefit from buy/burn of fees
· Solana Speeds and Costs
· Solana allows for sub-second trading and settlement on top of ultra-low transaction costs of $0.00001 per transaction
· TRADER JOE
Volume 24H : $252M
TVL : $1.45B
Blockchain : Avalanche
Trader Joe is a one-stop trading platform on Avalanche. It will launch first with regular trading and later with lending, which combine together to offer leveraged trading.
Many DEXes like to shift their focus on other horizontals. As degen DeFi users, we are focused on what we know best: DeFi. Nothing else.
DeFi is still young and with so many problems to solve such as capital efficiency, on-chain order books, limit orders and derivatives. We’ve made it our mission to solve problems in this space.
Eventually, this leads us to our ultimate long-term vision:
To make Trader Joe an R&D-focused platform for new DeFi primitives not yet seen on any blockchain — not just Avalanche.
Core Values
The Avalanche blockchain is all about speed and innovation, and we believe the top DEX must also embody those qualities. Because of this, we have defined our core values as:
- Build Fast and Securely
- Be Innovative and Different
- Put the Avalanche Community First
· OSMOSIS
Volume 24H : $107M
TVL : $1.4B
Blockchain : OSMOSIS
Osmosis is a fair-launched, customizable automated market maker for interchain assets that allows the creation and management of non-custodial, self-balancing, interchain token index similar to one of Balancer.
Inspired by Balancer and Sunny Aggarwal’s ‘DAOfying Uniswap Automated Market Maker Pools’, the goal for Osmosis is to provide the best-in-class tools that extend the use of AMMs within the Cosmos ecosystem beyond traditional token swap-type use cases. Bonding curves, while have found its primary use case in decentralized exchange mechanisms, its potential use case can be further extended through the customizability that Osmosis offers. Through the customizability offered by Osmosis such custom-curve AMMs, dynamic adjustments of swap fees, multi-token liquidity pools–the AMM can offer decentralized formation of token fundraisers, interchain staking, options market, and more for the Cosmos ecosystem.
Whereas most Cosmos zones have focused the ir incentive scheme on the delegators, Osmosis attempts to align the interests of multiple stakeholders of the ecosystem such as LPs, DAO members, as well as delegators. One mechanism that is introduced is how staked liquidity providers have sovereign ownership over their pools, and through the pool governance process allow them to adjust the parameters depending on the pool’s competition and market conditions. Osmosis is a sovereign Cosmos zone that derives its sovereignty not only from its application-specific blockchain architecture but also the collective sovereignty of the LPs that has aligned interest to different tokens that they are providing liquidity for.
· QUICKSWAP
Volume 24H : $77M
TVL : $731M
Blockchain : Polygon
Quickswap is an automated liquidity protocol powered by a constant product formula and implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain. It obviates the need for trusted intermediaries, prioritizing decentralization, censorship resistance, and security. Quickswap is open-source software licensed under the GPL.
Each Quickswap smart contract, or pair, manages a liquidity pool made up of reserves of two ERC-20 tokens.
Anyone can become a liquidity provider (LP) for a pool by depositing an equivalent value of each underlying token in return for pool tokens. These tokens track pro-rata LP shares of the total reserves, and can be redeemed for the underlying assets at any time.
Pairs act as automated market makers, standing ready to accept one token for the other as long as the “constant product” formula is preserved. This formula, most simply expressed as x * y = k, states that trades must not change the product (k) of a pair’s reserve balances (x and y). Because k remains unchanged from the reference frame of a trade, it is often referred to as the invariant. This formula has the desirable property that larger trades (relative to reserves) execute at exponentially worse rates than smaller ones.
In practice, Quickswap applies a 0.30% fee to trades, which is added to reserves. As a result, each trade actually increases k. This functions as a payout to LPs, which is realized when they burn their pool tokens to withdraw their portion of total reserves. In the future, this fee may be reduced to 0.25%, with the remaining 0.05% withheld as a protocol-wide charge.
Because the relative price of the two pair assets can only be changed through trading, divergences between the Quickswap price and external prices create arbitrage opportunities. This mechanism ensures that Quickswap prices always trend toward the market-clearing price.
· SUNSWAP
Volume 24H : $35M
TVL : $1.32B
Blockchain : TRON
SUN.io was founded to foster the growth of TRON’s DeFi ecosystem. Thanks to the community and open-source smart contracts, SUN.io has established ties with other DeFi projects on the TRON public chain through decentralized liquidity mining. Up to now, SUN.io has gone through several iterations and acquired JustSwap. The upgraded SUN.io platform integrates such functions as token swaps, liquidity mining, stablecoin swaps and decentralized autonomous organisation (DAO) on the TRON public chain, focusing on building TRON’s DeFi ecosystem with decentralized exchanges (DEX) at its core. As the native token of SUN.io, SUN plays an important role in platform governance, buying back and burning rewards, offering rewards to liquidity providers and other features, and aligns with TRON’s aspiration to bring common benefits to all users. SUN.io aims to build an integrated DEX ecosystem with a high level of functionality, profitability and security by leveraging multiple transaction protocols. It provides various incentives for participants, including rewards of transaction fees offered to liquidity market makers, liquidity mining of LP Tokens and staking rewards of the SUN token. Meanwhile, the burning mechanism of SUN and the voting rights of SUN holders together form a closed-loop ecosystem.
· TERRASWAP
Volume : $14M
TVL : $695M
Blockchain : Terra
Terraswap is a Uniswap-inspired automated market-maker (AMM) protocol implemented with smart contracts on the Terra blockchain. This enables a decentralized on-chain exchange for the various assets involved in Terra ecosystem. Terraswap users can become trader, liquidity provider or both.
A trader can exchange their token for another token through Terraswap using the price determined by the liquidity pool ratio.
Liquidity provider adds equal value of two assets to their corresponding Terraswap pair pool, which increases liquidity for the corresponding pair market while maintaining the pool price. In this process, liquidity providers are rewarded by newly minted LP tokens. LP tokens represent the liquidity provider’s share in the pool and provide the benefit of earning trading fees, which are accumulated into the pool on every swap transaction. Liquidity providers can burn their LP tokens to withdraw their share from the pool.
