Is xExchange a dex?

Could you please clarify for me if xExchange is indeed a decentralized exchange, or dex, as some users have been suggesting? It's important for me to understand the architecture and functionality of the platform in order to properly assess its potential risks and benefits for my clients. Specifically, I'm looking to determine if xExchange relies on a centralized authority or utilizes smart contracts and blockchain technology to facilitate peer-to-peer transactions without intermediaries. Your insight into this matter would be greatly appreciated.