As we explained in the Decentralized Exchanges article, a DEX is an exchange without a central authority, replaced by smart contracts.
Between 2020 and 2021, two were the rulers of the DEX: Uniswap and Pancakeswap, respectively, on the Ethereum network and Binance Smart Chain (BSC).
Some of the most promising and best DEX platforms for 2022
Curve
It’s an Automated Market Maker (AMM) with a retro aesthetic developed by Michael Egorov in 2019 under “StableSwap.” Thanks to its highly efficient bonding curves, users can swap stablecoins and wrapped versions of several tokens (over 45) with minimal slippage via liquidity pools. Moreover, it focuses on assets with parity 1 to 1 with national currencies, supporting a wide range of stablecoins like DAI, USDC, USDT, BUSD, PAX, and sUSD. Swaps on the Curve platform cost a transaction fee of only 0.04%.
Curve was initially deployed on Ethereum, but now it has expanded to blockchains like Avalanche, Polygon, Fantom, and some layer-2 solutions. This DEX differs from other AMM platforms because it prefers stability instead of speculation reducing volatility and its slippage fees. In a nutshell, Curve and its pools are designed not only to act as an exchange but also to provide liquidity to other protocols. Its native token is CRV, born to incentivize liquidity providers on the platform; it’s used to vote in the DAO and for staking.
If you want better understand the pros and cons of using Curve, read this article.
SushiSwap
This DEX is a “fork” of the popular Uniswap protocol, and now it has become the best DEX for liquidity minig. SushiSwap allows traders to swap assets across over a dozen…
