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Marketcap:
$2,055,614,930,545
24h Volume:
$118,656,877,796
Aug 05 Liquidations:
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Bitculator · Learn & Earn
Experienced
Decentralized Exchanges (DEX)
Master how DEXs work, including AMMs and liquidity pools.
5 Questions~3 min1,500 Bits750 XP
Pass to earn your reward
0%
Mastery
- 01
Decentralized Exchanges In Depth
Decentralized Exchanges (DEXs) allow users to trade cryptocurrencies directly from their wallets without relying on a centralized intermediary. They use smart contracts to facilitate trades.
- 02
How DEXs Work
- Automated Market Makers (AMMs): Instead of order books, AMMs use mathematical formulas and liquidity pools to determine prices. The most common formula is x * y = k (constant product).
- Liquidity Pools: Pairs of tokens locked in smart contracts that enable trading. Anyone can add liquidity and earn fees.
- Liquidity Providers (LPs): Users who deposit tokens into pools and earn a share of trading fees in return.
- Slippage: The difference between the expected price and the actual execution price, especially on large trades.
- 03
Popular DEXs
- Uniswap: The largest DEX on Ethereum, pioneering the AMM model
- PancakeSwap: Leading DEX on BNB Chain
- Curve: Optimized for stablecoin and similar-asset swaps with low slippage
- dYdX: A decentralized derivatives exchange
Ready to start?
5 Questions · 1,500 Bits + 750 XP
Frequently asked questions
6 Results
What will I learn in this crypto quiz?
Each quiz focuses on a specific cryptocurrency topic. Read the lesson first to learn the key concepts, then test your understanding with graded multiple-choice questions.