Understanding The DEX

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Just as the name implies, DEXs are decentralized. When interacting with them, there

is no need for any KYC information. You just link your wallet to the site and start

trading. All the trading is managed by smart contracts. Normally, the fees you pay

are in the native token of the blockchain you are on. A percentage of the fees go to

the DEX to support its function, and some go to the liquidity pool stakers. Some DEXs

allow you to use their token to pay a reduced fee when trading. It is common for

these platforms to have liquidity pools that you can stake your tokens into for a

percentage reward. This is done so that the DEX can ensure it has enough liquidity of

tokens to be traded and keep trading costs low. A DEX does not support fiat money, but they do support stablecoins. Below is a list of some major DEXs. There are links to videos that explain how to navigate them and talk about what they offer. Also next to each name will be the name of the blockchain they are built on and will contain links to their official pages.