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Protocols: Exchanges / Dex

What is Uniswap?Uniswap matters because it replaced the traditional order book with code: pools of tokens and rules that let anyone trade or supply liquidity onchain

What is Uniswap?Uniswap matters because it replaced the traditional order book with code: pools of tokens and rules that let anyone trade or supply liquidity onchain. Once that idea clicks, the rest of DeFi becomes easier to understand — from simple swaps to the newer, customizable pools in Uniswap v4.Mar 21, 202613 min read

What is Velodrome?Velodrome is Optimism’s native DEX built around a simple idea: liquidity should not just exist, it should be steered

What is Velodrome?Velodrome is Optimism’s native DEX built around a simple idea: liquidity should not just exist, it should be steered. Instead of treating trading, liquidity mining, and governance as separate systems, Velodrome ties them together so traders, LPs, token lockers, and partner protocols all influence where rewards flow.Mar 21, 202616 min read

What is SushiSwap?SushiSwap matters because it shows what a decentralized exchange becomes once simple token swapping grows into a multi-chain trading system

What is SushiSwap?SushiSwap matters because it shows what a decentralized exchange becomes once simple token swapping grows into a multi-chain trading system. What began as an automated market maker now aims to help users swap, route, and sometimes move assets across many networks without relying on a centralized intermediary.Mar 21, 202614 min read

What is Trader Joe?Trader Joe is a decentralized exchange that evolved from a straightforward Avalanche DEX into a broader DeFi platform built around its Liquidity Book AMM

What is Trader Joe?Trader Joe is a decentralized exchange that evolved from a straightforward Avalanche DEX into a broader DeFi platform built around its Liquidity Book AMM. What makes it interesting is not just that it lets people swap tokens, but that it organizes liquidity into discrete price bins to make trading depth more configurable for both traders and liquidity providers.Mar 21, 202616 min read

What is PancakeSwap?PancakeSwap matters because it turns a blockchain into a live marketplace without handing your assets to an exchange

What is PancakeSwap?PancakeSwap matters because it turns a blockchain into a live marketplace without handing your assets to an exchange. Its appeal is simple: trade from your own wallet, pay relatively low fees on BNB Smart Chain, and, if you want, put idle tokens to work through liquidity pools, farms, and staking.Mar 21, 202614 min read

What is Raydium?Raydium matters because it is not just a swap interface on Solana; it is liquidity infrastructure that other apps and traders build on top of

What is Raydium?Raydium matters because it is not just a swap interface on Solana; it is liquidity infrastructure that other apps and traders build on top of. Its design is useful once you see the core problem it solves: how to let anyone launch markets, trade quickly, and supply liquidity with different levels of control.Mar 21, 202613 min read

What is Hyperliquid DEX?Hyperliquid DEX is unusual because it tries to give traders a centralized-exchange style order book while keeping matching, margin, and liquidation logic on-chain

What is Hyperliquid DEX?Hyperliquid DEX is unusual because it tries to give traders a centralized-exchange style order book while keeping matching, margin, and liquidation logic on-chain. That design makes it attractive to active perp traders who care about speed and market structure, but it also makes the exchange’s risk engine and sequencing rules central to understanding how it behaves.Mar 21, 202615 min read

What is Jupiter?Jupiter matters because swapping onchain is not just about finding a quote — it is about getting a trade to actually land at a good price

What is Jupiter?Jupiter matters because swapping onchain is not just about finding a quote — it is about getting a trade to actually land at a good price. On Solana, Jupiter has built itself around that harder problem, combining liquidity aggregation, routing, and transaction execution into a single trading layer.Mar 21, 202614 min read

What is Orca?Orca is a Solana-based decentralized exchange built around concentrated liquidity, which means liquidity is placed where trading actually happens instead of being spread thinly everywhere

What is Orca?Orca is a Solana-based decentralized exchange built around concentrated liquidity, which means liquidity is placed where trading actually happens instead of being spread thinly everywhere. That design makes swaps more efficient, but it also asks more of liquidity providers than older AMMs do.Mar 21, 202615 min read

What is GMX?GMX is a decentralized perpetual exchange built around a different idea from a traditional order book: traders interact with a shared liquidity pool instead of matching directly against other traders

What is GMX?GMX is a decentralized perpetual exchange built around a different idea from a traditional order book: traders interact with a shared liquidity pool instead of matching directly against other traders. That design aims to make onchain leverage trading feel simpler, while shifting the key questions to pricing, liquidity, and risk management.Mar 21, 202614 min read

What is Curve Finance?Curve Finance matters because it solves a very specific market problem better than most exchanges do: swapping assets that should trade close to the same price

What is Curve Finance?Curve Finance matters because it solves a very specific market problem better than most exchanges do: swapping assets that should trade close to the same price. Its design is built for stablecoins and other correlated assets, where traders care less about price discovery and more about getting in and out with minimal slippage.Mar 21, 202614 min read

What is Aerodrome?Aerodrome is a decentralized exchange on Base built around a simple but powerful idea: let token holders vote where liquidity incentives go

What is Aerodrome?Aerodrome is a decentralized exchange on Base built around a simple but powerful idea: let token holders vote where liquidity incentives go. That turns a DEX from a passive trading venue into a market for directing liquidity, fees, and emissions.Mar 21, 202615 min read