Sirwin
Sirwin

Best Tokenless Decentralized Exchanges


In this article, I will tell you about some decentralized exchanges that will allow you to trade without KYC. These are advisable solutions for a number of reasons:

-Lack of KYC and more privacy precisely
-Greater security than centralized exchanges (Binance, Kraken, Coinbase, etc)
-Possible airdrop (they are platforms without their own token. Is it worth risking $100? I would say yes. Jitosol gave away an airdrop of almost 15k, simply by staking 1 Sol for 3 months. Airdrop season is coming!)

If you are a trader and use DeFi, they are also fundamental solutions for receiving the free token of these exchanges. I don't consider myself a big trader. I prefer holding, farming in DeFi and hunting for Airdrops however I am using these solutions creating volumes because I am quite certain that the airdrop will arrive. The airdrop from DyDx (another decentralized exchange) was huge, with some addresses receiving several hundred thousand dollars. It is very likely that these protocols will also launch their token so I am making small trades. Remember to be careful if you decide to use leverage.

How to withdraw on chain?
1) Download Metamask (Arbitrum, Optimism, Ethereum) or Phantom (Solana)
2) If you already have your USDC/USDT on your wallets, just deposit on the platforms by following the links and guides below
3) If you don't have liquidity in your wallets, you can withdraw from Binance (or other exchanges) directly on the chain you intend to use for trading i.e. Arbitrum, Optimism and Ethereum mainnet (you will have to withdraw Eth and then with a part of this you can buy Usdc on Odos.xyz to deposit and trade on the platforms mentioned below) or on Solana (in this case withdraw Sol and then on jup.agg you can sell a part of Sol for Usdc which then deposit on decentralized exchanges for trading)

If you want to switch from one chain to another: Best Bridges For DeFI Transfers: EVM, Solana, Aptos, Sui, Cosmos

 

AEVO (ETHEREUM, OPTIMISM, ARBITRUM): UPDATE-AIRDROP ALREADY HAPPENED!
Aevo allows you to trade perpetuals and options. Interface is very simple and similar to all decentralized exchanges. What you need to do is have Usdc or Usdt on your favorite chain (Optimism, Arbitrum or Ethereum) and then connected Metamask, you need to make the deposit. By clicking on the top right (on your address), click on deposit and choose how many USDC, USDT, ETH or BTC you want to deposit. You pay 5 cents gas fee (if you use Optimism and Arbitrum) and then at the top left choose which pair to trade (for example Eth/Usd, wBtc/Usd, Tia/Usd, Sol/Usd, Pyth/Usd, Ordi/Usd, etc).

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The interesting thing is that there are also Perps/Futures tokens that have yet to be listed (e.g. Jup, Jito, Blast, etc). On the right you can prepare your trade: long/short, leverage (up to 20x), order type (market/limit). Once the order has been executed, you will read the operation under the chart and you can close it at any time. There isn't much else to say about trading because the screen is identical to that of any exchange (Binance, Crypto.com, etc).

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If you want to withdraw your Usdc (or Usdt), click on your address again and under "deposit", you will find "Withdrawal" written (they will return to your Metamask).

 

HYPERLIQUID (ARBITRUM)
Basically things don't change on Hyperliquid  because the screen and the process is similar to Aevo. At the top right, read "deposit" and you will be able to deposit your usdc.e (wrapped form on Arbitrum), usdc or usdt. If you want to withdraw, just tap on "withdraw" at the bottom right. You can use leverage up to 20x. In "vault" you can provide liquidity in usdc and you will be exposed to the gains/losses of traders on the platform (you make money when most traders lose money, you go to loss when most make money). By making trades, you will accumulate points every week. The points will be converted into their token.

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If you want to use another decentralized exchange in pursuit of Arbitrum's second airdrop, you can use this guide: How GMX Works On Arbitrum: Here's Why You Should Use It!

 

Other DeFi exchange tokenless (Airdrop are coming very soon!):

Satori Finance (Scroll), Satori Finance (zkSync), Satori Finance (Base), Satori Finance (Linea)

Perennial Finance (Arbitrum) (ref code: discountfee )

LogX (Arbitrum, Optimism, Linea, Mantle, Kroma) (ref code: DCFE1660 )

Rage Trade (Arbitrum) (ref code: feediscounts)

AvantisFi (Base)

IntentX (Base)

Options exchange tokenless:

Synquote (Arbitrum, Optimism, Polygon)

 

KILOEX (BNB CHAIN/OPBNB/MANTA PACIFIC)
KiloEx is a decentralized exchange backed by Binance that is giving points when trades are executed, when you deposit (if you want) and when you check in daily. The points will be converted into their token. In this case, it is not necessary to deposit to carry out trades. Just get your USDT on Metamask. You can use BNB Chain, opBNB (the cheapest) or Manta Pacific. To go to opBNB Chain or Manta, you can use Owlto Finance

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DRIFT (SOLANA)
In this case we move to Drift (Solana) so you will need to have at least a few dollars of Sol in your Phantom wallet to pay the fees. Also in this case at the top right you read "deposit/withdraw" (you can deposit many assets). In addition to trading Perpetuals, you can also buy Spot. Furthermore, the platform has liquidity pools where it is possible to make an income from your cryptocurrencies.

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MULTI-AIRDROP STRATEGY (BONUS)
This strategy with its risks allows you to obtain several airdrops, without trading. We will use MarginFi and Drift. What we are going to do is provide liquidity (e.g. Usdc) at MarginFi  and after this we will borrow JitoSol (it is a liquid staking derivative of Solana). I recommend you borrow about 50% of your collateral (if you deposit 300 Usdc, I recommend taking out $150 of Jitosol). Borrowed Jitosol, you can go and sell it on Jupiter Finance for Bsol (it is another liquid staking derivative of Sol). Once this is done, you can deposit it at Drift finally go to Earn/Lend Borrow (find bSol and deposit it). You will have to carry out the reverse operations when you decide to get your tokens back: withdraw Bsol from Drift, go to Jupiter and sell it for Jitosol, then repay the loan on MarginFi. Then you can decide whether to withdraw your USDC or keep it as an income.

What are the risks? Well, there are 2 risks. The first risk is liquidation on Margin. You deposit Usdc and borrow Jitosol (50% of the collateral) but you should be careful with Jitosol (i.e. $Sol) because if it rises too much in price you could be liquidated. When you borrow Jitosol, you read the liquidation price of your collateral and if you risk liquidation, you can repay the loan or add more collateral (Usdc) on Margin. The other risk is obviously the fact of using two platforms: Margin and Drift. They are safe but could be hacked. If you know how to move well in DeFi this strategy is Gold because it could bring you several thousand dollars free. Alternatively, if you are not an expert and want to try it, use small capital to learn.

However, if loans are not for you, you can simply use the platforms mentioned above to carry out trades. Many free airdrops will arrive. DYOR obviously.

 

 

Are you interested in ways to earn crypto bonus? Check it out here: Some Sites To Earn Crypto Bonus (Old & New)

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I discovered Bitcoin in 2012. I also love NFT. #BTC #ETH #Atom #SNX #Polis #WeAreStarAtlas #MLBSorare⠀⠀⠀⠀⠀⠀


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