The difference from traditional exchanges lies in the different matching methods. Decentralized exchanges use smart contracts, while centralized exchanges use exchange matching algorithms. Wallets with currency-to-crypto swaps are actually decentralized. The prototype of an exchange, now many wallets have also transformed into decentralized exchanges. Decentralized exchange platforms include: 1. Uniswap; 2. MDEX; 3. JustSwap; 4. SushiSwap; 5. Bancor Network; 6. Curve.
First, Uniswap
was established in 2018-11. The number of U.S. currencies registered in the area is 1152 (1915 trading pairs)
Introduction: Uniswap V2 is a DEX platform fully deployed on the Ethereum chain, based on "constant product Automatic market making "model [reserve pool mode, on-chain matching, on-chain clearing], and promotes automatic exchange transactions between ETH and ERC20 token digital assets. The trading design of Uniswap V2 is different from the traditional limit order model. The Uniswap V2 protocol creates a single liquidity reserve for each ETH and ERC20 token trading pair. Each token's liquidity reserve is a trading smart contract that holds a certain amount of ETH and ERC20 tokens. Uniswap V2 trading contract as an automatic market maker
Second, MDEX
The establishment time is unknown and the registration area is unknown
Introduction: MDEX supports the decentralized cross-chain trading protocol of BSC, HECO and ETH, aiming to integrate the advantages of multiple chains , to create a high-performance composite DEX ecosystem, maximize feedback to participants with the "dual mining incentives" of liquidity mining and transaction mining, and realize a self-driven value capture ecological closed loop through the fee repurchase and destruction mechanism. MDEX is now available on Huobi Ecological Chain Heco and Binance Smart Chain BSC. Users can use MDEX Bridge to realize cross-chain interoperability of assets between Huobi Ecological Chain Heco, ETH and Binance Smart Chain BSC.
Third, JustSwap
The establishment time is unknown and the registration area is unknown
Introduction: JustSwap is a TRON-based exchange protocol that can be used for the exchange of TRC20 tokens. Any two TRC20 tokens can be exchanged, the system is priced, and transactions are convenient, and the protocol will not charge handling fees. All handling fees are provided to the liquidity provider of the protocol. The decentralization and security of the protocol are reliably guaranteed.
Fourth, SushiSwap
Established in 2020-08, registration area unknown
Introduction: SushiSwap is a fork of Uniswap, launched on August 27. It adopts UniSwap's core liquidity pool design, which is still liquidity mining and automatic market maker (AMM). At the protocol and smart contract level, SushiSwap and Uniswap share the same interface, and the front-end interface Sushiswap is also the same as Uniswap. But it essentially changes the original protocol, and SushiSwap pushes the Uniswap theory one step further.
Fifth, Bancor Network
Established in 2017-01, registered in Israel
Introduction: Bancor is a decentralized trading protocol that enables traders, liquidity providers and developers to participate in a barrier-free in open financial markets. No license is required to use the Bancor open source license. Bancor serves as a decentralized autonomous organization (DAO), owned and operated by its community. The Bancor protocol is governed through a democratic and transparent voting system, allowing all stakeholders to participate and shape Bancor’s future.
Sixth, Curve
Time of establishment - registration area unknown
Introduction: Curve is a decentralized stablecoin trading pool based on Ethereum. It is characterized by an efficient and low-slippage stablecoin trading experience, and for doing The market maker provides low-risk fee income. Under the hood, tokens held in the liquidity pool will also be provided to the Compound protocol or iearn.finance, where more revenue is generated for liquidity providers.
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