impermanent loss

Unpacking the current state of decentralized exchanges (DEXs), advantages and disadvantages to CEXs, and exploring innovative models gaining traction in DeFi.

Introduction Decentralized exchanges, or DEXs, are a fundamental building block of DeFi that facilitate the trade of cryptocurrencies without a middleman. DEXs serve as the primary medium for new cryptocurrencies to achieve price discovery, as traders swap established currencies for fledgling projects. DEXs also provide a local exchange rate between two or more cryptocurrencies.  In […]