Top DEXs (Decentralized Exchanges)

Uniswap is the most popular cryptocurrency decentralized exchange (DEX). Uniswap 33 pioneered the automated market maker (AMM) model, instead of using the traditional order book-based used by exchanges. Uniswap v3 runs on the Ethereum blockchain and uses a number of smart contracts to securely swap ERC-20 tokens between users. Website: https://app.uniswap.org

Curve Finance is a decentralized liquidity pool used for stablecoin trading. Instead of using an order book, Curve Finance uses an AMM (automated market maker) model to match liquidity. As a decentralized and permissionless blockchain protocol, anyone can provide liquidity to one or more of the liquidity pools. The constant product formula of the AMM ensures maximum efficiency while incurring a minimum of slippage for traders. Curve Finance is available multi-chain — on Ethereum, Arbitrum, Aurora, Harmony, Optimism, Polygon, Avalanche, Fantom, xDai, and Moonbeam. Users typically have to bridge funds from Ethereum to these chains to use the Curve protocol. Website: https://curve.fi

Balancer is a non-custodial portfolio manager, liquidity provider, and pricing sensor protocol. Balancer v2 offers a generalized blockchain protocol for automated market makers (AMMs). Website: https://balancer.fi