An increasing number of individuals prefer decentralized crypto exchanges to centralized ones for several reasons. First of all, centralized exchanges usually charge considerably high transaction fees for their services. Another reason is that there is a merely higher risk of hacking for centralized platforms. Organizations that run centralized exchanges are liable for their client's assets. Large crypto exchanges typically house billions of dollars in bitcoin, thus making them an attractive target for hackers and theft.
On the contrary, DEX platforms prevent market manipulation, provide anonymity and a high-security level. When using a decentralized crypto exchange, there is no third-party interference. With regards to market manipulation, DEX also reduces it by enabling peer-to-peer cryptocurrency exchange. Last but not least, decentralized exchanges do not need clients to complete know-your-customer (KYC) forms, allowing users to maintain their privacy and anonymity.
We have prepared a list of the best new DEXes you should see.
Starly is a brand new decentralized trade platform that focuses on internal community assistance. What makes it stand out from the crowd is its significantly low transaction charge – only 0.1%. Starly was established as a decentralized autonomous organization (DAO) for trading, farming, and staking binance smart Chain tokens.
Thanks to the faster speed and cheap cost of network transactions, BSC enables the Starly community to utilize the platform to its full potential. Starly implements the ideas of an open DEX platform with a free, equitable, and fair financial system.
Starly's main objective is to meet the demands for DeFi tools as efficiently as possible while providing maximum benefits to its community. Users of the Starly exchange platform and their needs are its top priorities. It is only at its early stages, and it has a great chance to develop and skyrocket significantly soon and become a well-known DEX platform.
PancakeSwap
PancakeSwap is a decentralized exchange on Binance Smart Chain with one of the highest transaction volumes. With PancakeSwap, you can farm, bet, and participate in a lottery backed by glitter and pancakes.
PancakeSwap runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. The platform also stands out for its low trading fees, which save money. PancakeSwap does not keep your funds while you trade.
Furthermore, the DEX has several liquidity pools where liquidity providers can get rewards in CAKE and LP tokens. With the platform, you can easily exchange one BEP-20 token for another through automated liquidity pools with low gas fees and high transaction speeds.
MDEX
MDEX is a decentralized network with the highest transaction volumes and TVL. It is created for interchain operations and runs on BSC, HECO, and Ethereum. MDEX seeks to combine the advantages of various circuits to create a high-performance composite DEX environment.
At the moment, MDEX allows users to make transactions with all types of tokens, meeting their basic needs. All transactions are confirmed in less than 3 seconds.
MDEX values both decentralized management and efficiency. The transaction fee is only 0.1 cents, offset by transaction mining, making the overall transaction cost-free. Increased transaction depth minimizes slippage to 0.1 percent, which even centralized exchanges struggle to achieve.
Injection Protocol
The Injection Protocol is the first fully decentralized second-tier protocol, enabling decentralized open-ended swaps, futures and spot trading. It, in turn, allows decentralized derivatives and borderless DeFi to reach their full potential.
The full decentralization of Injection Protocol transforms the traditional financial model upside down. The platform removes users' technical barriers to entry, creating a seamless, high-performance exchange for both spot and derivatives markets.
QuickSwap
Quickswap is a next-generation Layer 2 DEX exchange. It is based on the Polygon (MATIC) protocol, ensuring faster transaction rates than Etherium. QuickSwap's AMM capability allows for permission-free P2P trading using liquidity pools.
QuickSwap's liquidity mining techniques reward liquidity providers for their participation in building a long-term ecosystem. Thanks to income farming options, users may earn incentives in Quickswap's management token called QUICK.