Decentralized Exchanges (DEXs) are platforms that allow users to trade cryptocurrencies directly with one another without a central authority. SmarDex and Uniswap are two popular DEXs. This case study demonstrates the superior performance of SmarDex over Uniswap using real-world data, making it easy to understand for those new to the world of decentralized finance (DeFi). — Background: On 13th March 2023, a user added a combination of two cryptocurrencies (65 ETH and 103,215 USDT) into a shared pool (known as a liquidity pool or LP) on SmarDex, and let’s imagine, on Uniswap too. The price of 1 ETH (in its wrapped form, WETH) at that time was…