The last year or so has seen the decentralized finance (DeFi) market grow exponentially and reach unfathomable heights. To put things into perspective, over the course of 2021, the total amount of money entering this space rose from $25 billion to over $108 billion, which is extremely remarkable, especially when considering how nascent this sector is.
In this regard, it should be pointed out that DEX aggregators — short for Decentralized Exchange aggregators — have gained a lot of traction recently. They are essentially platforms that utilize a blockchain-based service (baas) model and allow their users to benefit from a plethora of novel crypto-finance tools from the comfort of a single unified interface. In this article, we will list out some of the best, most prominent DEXs in the market today, so without any further ado, let’s jump straight into the heart of the matter.
RocketX can be thought of as a ‘hybrid liquidity aggregator’ that offers users the best of both worlds, i.e. it provides individuals with access to various centralized as well as decentralized crypto platforms seamlessly. Owing to the use of such a novel setup, users can source a high level of financial liquidity with the touch of a button. Operationally speaking, Rocket X leverages order books from a number of prominent trading desks as a result of which it is able to not only offer the best rates possible but also minimize any slippage-related issues.
Furthermore, the platform is a first of its kind to support multiple chains cross-chain swaps & token bridges, making it extremely easy for users to transact between different ecosystems. Lastly, RocketX is fully licensed and offers a high degree of regulatory compliance.
One of the most popular DEXs operating within the fast-growing Solana ecosystem today, Atani packs in a number of technical attributes that crypto enthusiasts these days seem to be looking for. For starters, the platform comes replete with ‘advanced order’ features such as a stop-loss module as well as an automated profit-booking feature (amongst many others).
Furthermore, the platform provides users with the ability to perform technical analysis with the touch of a button, allowing for wiser investment choices. Lastly, Atani’s DEX comes packed with a quality portfolio tracker as well as a price alert module that enables users to maximize their gains quite effortlessly.
One of the most popular DEXs operating on the Binance Smart Chain (BSC) today, PancakeSwap is meant primarily for facilitating BEP-20 related token operations. The platform makes use of an automated market maker (AMM) model wherein users have the ability to trade against a liquidity pool that consists solely of customer funds. In addition to this, it should be noted that the protocol is routinely audited by CertiK, one of the most prominent smart-contract security firms in the market today.
One of the most popular DEX aggregators in existence, 1inch offers its users attractive exchange rates primarily by sourcing efficient swapping routes across a number of different trading platforms. Also, from an operational standpoint, it should be highlighted that the platform has been designed to run atop the Ethereum network as well as the Binance Smart Chain (BSC), thereby allowing users to diversify their trading options.
The undoubted OG of this list , Uniswap is one of the first DEX protocols to make a mark for itself within the fast-evolving decentralized finance market. The platform allows users to facilitate automated token exchanges and has been built atop the Ethereum ecosystem. From an operational standpoint, it should be noted that the system employs a functional model that allows for the pooling of the platform’s native liquidity reserves, thus allowing users to access a high level of monetary in/outflow at any given time.
The last entry on our list is dYdX, a decentralized exchange that utilizes a highly sophisticated smart contract framework that is routinely audited by prominent third-party cybersecurity firms. As a result, the platform allows for a high level of data privacy, safety as well as transparency. Furthermore, it should be noted that dYdX is extremely efficient and features a simple user interface that can be employed by anyone — irrespective of their technical abilities or crypto prowess.