Top 5 potential Decentralized Exchange ( DEX) in 2021

Many decentralized exchange have emerged in recent years, trying to enhance the user experience and build a more robust exchange. After all, the idea seems to sync with the characteristic of personal autonomy: because with cryptocurrencies, users don’t need to trust a third party.

With the rise of DeFi, Ethereum-based DEX exchange are experiencing rapid growth in terms of users. At this rate, we will most likely see great technological advances across the industry.

Today Future News will introduce to you the top 5 potential DEX Decentralized Exchanges in 2021 according to statistics at the time of writing:

1. MDEX Decentralized Exchange:

Mdex is an automatic market-making decentralized exchange based on the concept of fund pools. MDEX proposes and implements a mix-chain DEX model based on the Heco Chain and Ethereum. Mdex combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem. With MDEX, users can also await dual mining mechanism of liquidity and transactions. Trading volume is $1,945,104,052.

2. Uniswap (V2)

Uniswap is a protocol for automated token exchange on Ethereum. It was launched on November 2, 2018. Uniswap describes itself as a simple smart contract interface for swapping ERC20 tokens. It has a formalized model for pooling liquidity reserves. It serves as an open-source frontend interface for traders and liquidity providers and is committed to providing free and decentralized asset exchange. Trading volume is $955,505,284.

3. PancakeSwap

PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.

The LP tokens are called FLIP tokens. PancakeSwap also allows users to farm additional tokens – CAKE and SYRUP. On the farm, users can deposit LP tokens, locking them up in a process that rewards users with CAKE. Users can stake CAKE tokens to receive SYRUP, which will have further functionality as governance tokens (and as tickets in a lotteries). Trading volume is $633,479,837.

4. BurgerSwap Decentralized Exchange on Binance Smart Chain

BurgerSwap is decreed to be the first democratized decentralized AMM on Binance Smart Chain, built without the control of any centralized entity, through smart contracts.

BurgerSwap has been developed based on the DEMAX decentralized finance platform built on Binance Smart Chain, enabling a swapping mechanism with democratic decentralized mechanics which allows changing parameters by the community through transparent voting.

With BurgerSwap, it could become possible for any user to create proposals to adjust transaction fees, block rewards and other system parameters of the exchange, and any user staking BURGER tokens can vote to pass or reject a proposal.

The BurgerSwap decentralized governance system cannot be managed and controlled by any centralized entity. Users are said to be rewarded with BURGER tokens as long as they create liquidity, stake and vote in the governance system.

Use at your own risk and always remember to DYOR. Trading volume is $281,844,589.

5. Sushiswap

SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain. We are soon expanding our offerings with the BentoBox lending platform.

We are a community-run project, governed by the community vote for all major changes to the protocol. Day-to-day operations, rebalancing of pools and ratios, business strategy, and overall development is ultimately decided on by our Sushi Chef 0xMaki. Trading volume is $189,435,078.

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