In the world of cryptocurrency economics, the blockchain can always allow you create its own token, which for the most part is utility tokens, design aids for projects of products and services, including dApps.
The Waves Platform is a great enabler for projects to issue their own tokens, most of the time they get pegged in waves.exchange DEX trading, which sometimes provides a difficulty if the expected token usability isn't exactly targeted to people inserted in the crypto universe and there is still the difficulty in listing in other exchanges, mostly centralized.
To increase the liquidity of project with issued tokens, a dApp was developed for the token issuer can build their own token Exchange, increasing the token's ability to distribute to users, liquidity and offer capacity.
The dApp is WaveFlow, with it you can set the trading rate fee, and no matter if it is a regular token or a smart token, simply access your wallet with Waves Keeper and have the respective token in your wallet portfolio, select the respective pair of your interest, choice some options and select to create your dApp Exchange.
A great thing is that to create your own Waves Token Exchange, the interested person does not necessarily have to be the token issuer, just have the desired token and meet some requirements, and ready, Exchange dApp is created.
The dApp does not have an optimization for a large volume of trading, but provides sufficient conditions as a facilitator in buying and selling tokens at your own rate.
In the current development phase, recently launched, Exchange is only allowing the generation of Exchange in TOKEN/Liquid pairs, but with strong conditions to extend functionality to other pairs.
If you want to issue or already have your own token, taking advantage of the tools and facilities that Waves Platform ecosystem offers, this is a good starting point and differentiation in your token's public offering, all resolved in a few clicks in a completely decentralized way if none registration requirement.