The rise of DEXs: Fueled by DeFi and ready to disrupt the status quo
Uniswap is a decentralized exchange and automated liquidity protocol where users can buy and sell ERC-20 tokens and supply liquidity in order to earn exchange fees. While protocols such as Uniswap and Curve have become popular, 0x and EtherDelta were previously the most popular decentralized exchanges on Ethereum, although they look more like a typical exchange, featuring traditional order books but powered completely through smart contracts on the Ethereum blockchain.
As such, decentralized exchanges are, in theory, impervious to hacks, although DeFi liquidity pools have previously been siphoned. Related: Powering DeFi market: Overview of the top 5 DEXs by total trade volume Some centralized exchanges such as Bitrue and OKEx have begun providing high-yield options, both through centralized and decentralized finance tools, as a means to compete with the continued expansion of DeFi.
