ALL DEXes on @MultiversX!
COMPARISON ❗
Each attribute from the table is explained in this 🧵 ↓
RT is much appreciated! #EGLD
List of DEXes:
- @xExchangeApp
- @ash_swap
- @jexchangeP2P
- @OneDex_X
- @QuantumXnetwork
- @JungleDEX
- @Exrond_Dex
- @DX25Labs
Attribute easy explanation ↓
1/ Fee
The small charge you pay to the DEX for each trade. Usually a bit part or all 100% of the fee goes to the liquidity providers.
Like paying a toll for using a bridge.
2/ Utility Token
A special kind of token you can use to vote on changes to the DEX.
But usually it's used to bootstrap users in order to add liquidity.
Like they pay you to use their platform at first. Be careful here, high APRs are only for a limited amount of time.
3/ Staking
Locking up your tokens to earn rewards, usually you earn the DEX token.
In a way it's like putting money in a savings account to earn interest.
4/ Yield Farming
Lending your tokens to earn more tokens.
You add liquidity with 2 tokens in a pool and share the fees with the other liquidity providers.
It's like planting seeds (tokens) and harvesting crops (rewards).
Be aware of Impermanent loss here.
5/ Dual Yield Farming
When you provide liquidity to a pool, you receive LP Tokens. You can then stake them to a farm in another protocol to earn more rewards.
Be aware of lock period or locked tokens here.
6/ Metabonding
Usually you hold the utility token of the DEX, just like $XMEX or $JEX and earn rewards from partnering projects.
7/ Metastaking
This feature is only available on @xExchangeApp for now.
- Add liquidity in pools = Earn % from fees
- Farm LP Tokens = Earn Rewards
- Farm LP Tokens again in Metabonding to basically "normal stake" usually 1 of the 2 tokens and earn even more rewards.
8/ Dual Farms
Earning rewards from a farm in a form of 2 or more tokens
9/ P2P Trading
Direct trades between two people, with no middleman.
Like selling an old bike directly to a friend.
10/ Stable Swap
Trading between stablecoins with low fees.
It's like exchanging dollars to euros with minimal charges.
11/ Limit Orders
Setting a specific price to buy or sell a token.
Like setting a budget for buying a new phone.
12/ Margin & Derivatives
Borrowing money to trade, or betting on price changes without owning the token.
Like buying a house with a loan, or betting on a soccer game.
13/ Single-Sided Liquidity
Providing liquidity with just one type of token.
Like bringing only apples to a fruit potluck.
14/ Price Range Liquidity
Providing liquidity only within a certain price range.
Like selling ice cream only when it's above 75 degrees.
15/ Flexible Fee
The fee changes based on conditions like market volatility.
Like surge pricing for a taxi ride during rush hour.
16/ Aggregator
A platform that finds the best trade prices across multiple DEXes.
Like a travel website that finds you the cheapest flights from different airlines.
That's a wrap!
Hope this thread gives you a better overview of the DEXes available on @MultiversX.
If I missed something, add it below!
Special thanks to @DBCrypt0 for giving me the idea for this comparison!
Do you want a comparison like this with all DeFi Protocols as well?
I hope you've found this thread helpful.
→ Follow @AndreiMX_ if you want to stay updated in the web3 space, especially on @MultiversX.
→ Like & RT the tweet below if you found this thread even a bit interesting.
Thanks a lot and see you around!
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