Decentralized Exchange (DEX) is a platform for trading cryptocurrencies that operates on the blockchain and does not rely on a centralized fund management structure. DEX enables users to exchange cryptocurrencies without needing a central exchange, registration, or fund deposit. It functions through smart contracts, which automatically execute transactions when specific conditions are met.

These contracts are stored on the blockchain, ensuring transaction security and transparency. To use DEX, users must have a wallet on the same blockchain as the exchange. For example, on, this is the TON Blockchain. With a wallet and tokens on the platform, users can create orders to exchange supported cryptocurrencies. Orders are sent to the liquidity pool and executed automatically without any further user action.

Unlike centralized exchanges (CEX), on DEX, transactions are executed immediately without the need for matching offers. DEX also offers various services for generating additional income from crypto assets, including providing liquidity to trading pairs, farming, and staking. More details about these operations will be provided in this guide as we delve into the basics.

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