Decentralized Finance (DeFi
) is becoming increasingly popular. Trade your favourite cryptocurrency completely anonymously on various decentralized exchanges (DEX
), but what are the best DEX Coins? Discover our top 10 DEX coins here.
1. Uniswap (UNI)
is the world's largest decentralized exchange (DEX) on Ethereum's blockchain, created in November 2018. Uniswap was, therefore the first major development in the world of DeFi. In September 2020, the protocol received its own native token, UNI. Holders of the token gained governance rights over the future of the protocol. In early May 2021, Uniswap V3 was launched to make transactions cheaper and faster.
2. Osmosis (OSMO)
Osmosis is a multi-chain DEX in Cosmos' network. The DEX focuses on interoperability between different blockchains. Osmosis can process transactions between nearly 50 separate blockchains, all within the same decentralized exchange. No longer a separate DEX per network, but decentralized trading on one DEX. Interoperability is key here, and Osmosis is thus competing with central exchanges.
3. PancakeSwap (CAKE)
is the largest DEX on the Binance Smart Chain (BSC) and went live in September 2020. PancakeSwap aims to compete with Uniswap. PancakeSwap aims to offer fast and cheap transactions on its own DEX. Trade your favourite BEP20 tokens, compete in the lottery, and add your native CAKE tokens to one of the Syrup Pools and receive attractive rewards. And your favourite NFTs? You can also trade those on their native NFT Marketplace.
4. Synthetix Network (SNX)
is an asset protocol that enables the issuance of synthetic assets on Ethereum. Trade assets without owning them yourself. The DeFi protocol uses decentralized oracles to track the prices of assets from the physical world. Not only crypto, but also commodities such as gold and silver and currencies such as U.S. dollars or Japanese Yen. Users can also trade these synthetic assets on other DEXs and DeFi platforms on Ethereum.
5. Curve DAO (CRV)
is a DEX on Ethereum with a focus on trading stablecoins. Curve Finance focuses on stable assets; no volatile rates and prices. The main goal? To trade ERC20 tokens and stablecoins in the easiest and cheapest way possible without slippage or impermanent loss.
To guarantee stability and low transaction costs, sufficient liquidity is required. Curve Finance, therefore, ensures sufficient liquidity in the protocol thanks to attractive yield rates for its users.
6. THORChain (RUNE)
is a cross-chain DEX and liquidity protocol built on Cosmos. THORChain provides liquidity to various platforms. Unlike other cross-chain decentralized exchanges, THORChain does not wrap assets. They use their own native assets, such as RUNE, for this purpose, which serves as the basis for each swap.
Swapping Bitcoin for Ethereum? No problem. THORchain's mechanism swaps Bitcoin to RUNE and then swaps RUNE to Ethereum. With THORChain, you trade assets between different blockchains in a simple way.
7. 1Inch (1INCH)
Looking for the best prices? 1Inch
is a DEX aggregator that compares several decentralized exchanges to offer the best deal. This allows users to use one protocol while comparing prices and making the cheapest transactions. 1Inch sees itself as the No. 1 DEX aggregator with the most liquidity and best rates on Ethereum, Binance Smart Chain, Polygon, and more.
8. Loopring (LRC)
Making transactions faster and cheaper without compromising security? Loopring
is a layer 2 protocol and DEX on Ethereum. On-chain exchanges suffer from high transaction costs and limited speed, among other things. As a result, Loopring performs calculations off-chain. This ensures lower transaction costs and limited slippage. Loopring claims to be 100 times cheaper and faster.
9. Gnosis (GNO)
is a decentralized prediction marketplace on Ethereum's blockchain. Make your voice heard and speculate on different events. Did your prediction come true? Then you will receive a reward. Gnosis uses Gnosis Core to use and execute smart contracts and oracles. The different answer options are included in a smart contract, including the reward model.
10. SushiSwap (SUSHI)
is one of Ethereum's largest decentralized exchanges and a fork of the well-known UniSwap. Like UniSwap and other well-known DEXs, you trade based on liquidity pools and the use of smart contracts. Add liquidity, participate in one of the yield farms and receive rewards. Trade over 16,000 trading pairs on SushiSwap. Do you own SUSHI tokens? Then you get governance right, and you are able to vote on the future of the protocol.