Loopring.io officially launched its Beta stage In February 2020 and was created by the official Loopring team themselves, which is spearheaded by Daniel Wang and Jay Zhou. The decentralized exchange is the first DEX to be built on top of the Loopring 3.0 blockchain. It is a non-custodial exchange that uses ZkRollups to achieve incredibly high throughput.
- Non-custodial exchange
- Shares liquidity with other DEXs built atop of Loopring Protocol
- Completely private and anonymous
- Can settle up to 200 trades per second
- 6 markets available with trading pairs that include ETH-USD, ETH-DAI, LRC-USDt, LRC-ETH, LINK-ETH, and USDT-DAI.
DyDx is a decentralized trading platform that provides margin trading, spot trading, lending, and borrowing - all in one place. It was created by Antonio Juliano and opened its doors in October 2018. The entire exchange runs through smart contracts on the Ethereum blockchain and it has investments from prominent venture capital firms such as Andreessen Horowitz and Polychain Capital.
- Margin trade up to 5x leverage in a decentralized manner on ETH-DAI, ETH-USDC, and DAI-USDC
- Trade up to 10x leverage on BTC-USDC perpetual contracts
- Can borrow from the exchange with a collateral level of 125%
- Can lend out cryptocurrency to gain interest
- Connect to the exchange through MetaMask, Ledger, WalletConnect, or Coinbase Wallet.
Paradex is a decentralized exchange and ERC-20 relaying platform that has an extremely fast settlement rate. It was launched in January 2018 and was bought by Coinbase in May 2018. It runs on top of the 0x Protocol and maintains an off-chain order book for order matching. The exchange includes a wrapped version of Ethereum which is a tokenized asset that tracks the price of ETH, allowing you to trade ETH pairs.
- Trade a range of tokenized assets on the exchange
- Includes wrapped ETH to trade assets against.
- Trade over 30 cryptocurrency assets that aren’t available on most DEXs including MKR, NMR, REP, STORJ, OMG, SNT, MANA, and ANT.
- Zero trading fees.
- Connect via MetaMask or Ledger
4. Waves Exchange
Waves Exchange is described as a hybrid decentralized exchange that combines the safety and security of a non-custodial wallet with centralized exchange services such as faster transactions and a higher quality of service. The platform originally started off as a completely decentralized exchange but eventually switched to its hybrid model in December 2019. It is run by a separate portion of the Waves team itself.
- Trade over 40 different cryptocurrency pairings
- Non-custodial wallet solution
- Centralized order matching for a faster experience
- A low fee of 0.0003 WAVES per order fill
- Staking available on the platform
- Can create tokens simply on the platform
- Has integrated Ledger support
5. Binance dex
Binance DEX is a decentralized exchange created by the Binance team. It opened its doors in February 2020 and is run on top of Binance Chain - a blockchain created by Binance. Binance Chain has 1 second block times which offers near-instant transaction finality. The exchange also has a wide variety of cryptocurrencies to trade between.
- A non-custodial version of Binance exchange
- Runs on top of Binance Chain with 1 second block times and interoperability between other blockchains
- Can connect via mobile wallets such as Trust Wallet and Safe Pal
- Can also connect via Ledger and Trezor
- Matching of orders happens within the Binance Chain nodes
- A very low 0.004% fee when using BNB token as a discount
StellarX describes itself as more of a market place rather than a DEX. You are still in complete control of your cryptocurrency assets, however, StellarX does not host its own order book or trading system. Instead, the users of StellarX provide the markets and order matching and StellarX pretty much acts as a GUI to facilitate all of this. Nevertheless, it is pretty much similar to a DEX as it is all decentralized. Stellar X was launched in late 2018 and was created by the Stellar team. It is run on top of the Stellar blockchain.
- Trade a very wide range of markets in a decentralized fashion through tokenized assets
- Has a USD fiat on-ramp to directly deposit USD
- Has stablecoins for EUR and GBP available
- Completely free with zero fees
IDEX is a hybrid decentralized Ethereum exchange that combines both DEX security with centralized transaction speeds. IDEX is run on top of the Ethereum blockchain. It was launched in September 2017 and was created by the team behind Aurora. The team later went on to completely move to the IDEX brand in May 2019 and conducted a token swap to IDEX. The exchange can boast about its high throughput and real-time trading due to O-Rollup technology.
- Trade over 200 different ERC-20 tokens on the exchange against ETH, TUSD, USDC, and DAI
- Small 0.1% fee for Market Makers and 0.2% for Market Takers
- Can connect to the exchange via MetaMask or Ledger
- As it is not fully decentralized, New York IPs are banned from accessing the service
Bancor Network is described as a decentralized liquidity network that allows users to swap tokens in a very easy-to-use fashion. It was launched in 2016 and is headquartered in Switzerland. Bancor runs on top of its own blockchain but also has the cross-chain capability with Ethereum and EOS via smart contracts. Bancor is not a DEX and uses liquidity pools to convert tokens instead of order books. Unfortunately, as they have a credit card gateway, there is a KYC process in place.
- Can buy cryptocurrency with credit cards
- Easily swap ERC-20 tokens and EOS tokens
- Completely feeless
- Uses relayers to provide liquidity within the market
- One second block time for fast transactions.
9. Radar Relay
Radar Relay is a decentralized platform that allows users to conduct wallet to wallet trading on the Ethereum network. It functions on top of the 0x blockchain using the 0x DEX protocol to relay all of its orders. It was built by the Radar Tech team which is spearheaded by Alain Curtis and launched in 2017.
Radar Relay has raised over $13 million and received investments from prominent venture capitalists such as Blockchain Capital, Batship Crazy Ventures, and Breyer Capital. Using the platform, traders can send their orders to the Radar Relay and wait for them to be matched by the system whilst the 0x protocol transfers the value between wallets. Therefore, it is really a dApp but can function as a DEX.
- No signups to ensure anonymity
- No deposits to save time waiting for confirmations and accumulating fees
- Trade over 190 different tokens against WETH, DAI, and USDC
- Has a strong customer support team
- Total on-chain settlement
- Connect via MetaMask, Ledger, Trezor, and FortMatic
DDEX is a decentralized marginal trading platform that also allows users to borrow and lend. The exchange uses a hybrid model of off-chain matching with on-chain settlements. It is run through a mix between the Hydro Protocol and the 0x Protocol. The exchange was created by the founders of the Hydro Protocol and it has received investments from the likes of Badwater Capital, INBlockchain, Nirvana Capital, and Draper Dragone.
- Has a mobile trading app
- Flat fee trading model of 0.1%
- Margin trade with up to 5x leverage on the platform
- Has wrapped BTC (wBTC) markets available to trade from
- Earn interest by lending tokens to other traders
ViteX is a completely decentralized exchange and is considered as the world’s first DAG-based DEX. It uses on-chain order matching along with smart contract fee collection to provide a service that can share daily dividends to VX token holders. The exchange was created by Charles Liu, launched in April 2019, and is run on the Vite blockchain. It has received investments from Bitcoin Capital, BitMain, FunCity Capital, and OK Blockchain Capital.
- Earn dividends through holding VX
- A flat fee of 0.2% for both makers and takers
- High throughput with 1 second confirmation time and gasless transactions
- Open Source protocol
- Trade between VITE, BTC, ETH, and USDC
Switcheo is described as a trustless, multi-chain, decentralized exchange platform. It was launched in May 2019 and was built by Ivan Poon, henry Chua, and Jack Yeu. The team raised almost $8 million in its 2018 ICO. The platform is multi-chain which allows it to run on top of EOS, ETH, and NEO - giving the option for users to trade between these token standards in a decentralized manner.
- Swap directly between ERC-2-, NEP-5, EOS tokens
- All exchanges are conducted via smart contracts on corresponding blockchains
- Uses off-chain matching settlement for instant trades
- Contact support 24/7 via email or Telegram
- Connect to each blockchain with your own wallet via channels such as MetaMask, Ledger, Trezor, Trust Wallet (ETH), O3 Wallet (NEO), and Scatter (EOS)
- Can conduct atomic swaps directly on the platform
DeversiFi is a completely decentralized exchange that is the evolution of EthFinex. It was founded by Will Harbourne and is created by the team behind BitFinex and re-branded to launch the new platform in September 2019. Furthermore, it is no longer part of the BitFinex family. The platform is run on the Ethereum blockchain and provides margin trading via the bZx protocol. DeversiFi describes itself as an extremely powerful DEX that allows users to conduct trades of any size directly from the security of their own wallet.
It allows for lightning-fast order matching as it is built on the backend architecture of BitFinex, one of the world’s largest cryptocurrency exchanges.
- Trade via margin on the platform
- High-speed exchange built off of BitFinex architecture
- Trade between over 200 markets which include a version of WBTC
- Earn interest on cryptocurrency via P2P lending
14. Oasis Trade
Oasis Trade is part of the MakerDAO all-in-one DeFi hub in which users can trade, borrow, save and lend on the same platform. It is an update of eth2dai.com that was built on the OasisDEX platform which is considered to be the biggest on-chain liquidity protocol for ETH/DAI. It was launched in October 2019 and is built by the team behind MakerDAO.
- Zero trading fees (only pay GAS fees)
- All trades are on-chain
- No KYC procedures
- Lending and Borrowing on the same platform
- Offers non-custodial limit orders
- Offers coins such as REP, BAT, DAI, LINK, 0x, ETH, and wrapped BTC.
Instant Swap DEX
1. Kyber Swap
KyberSwap is an extremely easy to use liquidity protocol that allows users to seamlessly swap ERC-20 tokens between one another. It is built on top of the Ethereum blockchain and it launched in 2018. The Kyber Network was created by Loi Luu and has received investment from prominent investors such as Andreas Swartz, 8 Decimal Capital, and Plasma Capital. It works by processing orders through the Kyber Network’s liquidity pool. The application can easily be integrated into any dApp which further enhances the ecosystem.
- Very simple to use with no order books or wrapping
- Instant transactions with no waiting on order matching
- Intuitive mobile app available
- Easily integrated into any dApp
- Connect via MetaMask, Ledger, Trezor, and many other wallet providers.
Uniswap describes itself as an automated liquidity protocol. It was founded by Hayden Adams and launched in November 2018, being built on top of the Ethereum blockchain itself. The swapping feature works through the process of a deterministic algorithm known as an Automated Market Maker.
- Swap between a wide variety of cryptocurrencies that include wrapped token options
- Flat fee of 0.3% per trade
- Connect via MetaMask, WalletConnect, Coinbase Wallet, or Torus
Airswap is an ERC-20 DEX that allows users to swap between any ERC-20 token through the means of its own token AST to make the markets. It is an anonymous P2P platform that allows users to trade directly with each other. Built on top of the ETH blockchain, Airswap conducts all of its order matching off-chain and uses the Swap Protocol to do so. It was founded by Michael Oved and Don Mosites and launched in 2017. Its parent company is ConsenSys.
- No fees involved
- No sign-up process
- Run through trustless escrow systems
- No viewable order books
- Eaily add or remove liquidity as needed