Ethereum’s decentralized exchange, or “DEX”, is a platform where ETH and ERC20 tokens can be traded directly between users in a peer-to-peer fashion. The DEX is powered by smart contracts that run on the Ethereum blockchain, meaning that it is completely decentralized and trustless.
This means that there is no need for a third party to hold or manage your funds, meaning that you are always in control of your own private keys. The DEX is also non-custodial, meaning that no one but the users themselves have control over their funds.
The DEX is a completely open source project that was built by the community for the community. It is available to anyone who wants to use it, and there are no fees or commissions charged by the DEX itself.
Instead, users who trade on the DEX will pay gas fees to the Ethereum network.
The DEX launched in August of 2018 and has seen increasing usage and volume since then. In November of 2019, the DEX launched its first major upgrade, called “Hydra”.
This upgrade brought several new features to the platform, including support for ERC721 tokens, improved liquidity, and a new user interface.
The DEX is an important part of Ethereum’s ecosystem as it allows for direct peer-to-peer trading of ETH and ERC20 tokens in a completely decentralized manner. The platform is constantly being improved by the community, and new features are always being added. If you’re looking to trade ETH or ERC20 tokens, then the DEX is the place to do it!.