What is a crypto Dex and how does it work?

A DEX doesn't offer custody of users’ crypto assets. Instead, users directly hold all their assets in their own wallets at all times. The largest crypto DEXs had begun to challenge some of the largest centralized exchanges (CEXs) in terms of trading volume by late 2021, according to a report by global accountancy KPMG.

What is a decentralized exchange (DEX)?

A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary. Many popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain.

What is the difference between Dex and IDEX?

IDEX functions as an order book exchange while the project combines elements of centralized and decentralized exchanges to facilitate greater speeds for executing transactions on the ledger. The majority of DEX platforms in the market are AMMs, while IDEX uses order books and centralizes the system used for matching orders on the network.

What is IDEX token?

IDEX, the utility token, is used for securing the protocol through staking as Node operators need to stake IDEX to operate the network. How to Use IDEX?