devarena logo
Reading Time: 4 minutes


What are DEXs? Easy Crypto Trading with Calyx Network ($CLX), PancakeSawp ($CAKE) and SushiSawp ($SUSHI)



by Analytics Insight

March 30, 2022

Explore the best of DEXs- Calyz Network, PancakeSawp, SushiSawp

Decentralized exchanges (DEXs) allow crypto investors to trade directly with one another independently without a centralized intermediary. This expansive and liberated access to a variety of cryptocurrency tokens and financial services is what makes centralized exchanges highly attractive. Here is a glimpse at the best DEXs in the crypto market and what makes them stand out.

 

What Is A Dex?

Decentralized exchanges (DEXs) are used to eliminate the need for intermediaries in crypto trading. Simply, they allow for trading without an intermediary or a need to provide identifying information while avoiding automated smart contracts that still conduct trades in a system of peer-to-peer (P2P) trading. Decentralized exchanges are a major backbone of DeFi (Decentralised Finance) and achieve one of crypto’s core possibilities which is the possibility of financial transactions that aren’t officiated by banks and other payment processors. There is a variety of DEXs, and their platforms provide equally diverse infrastructural implementations and system architecture.

How is this possible? Well, Decentralised Exchanges set the prices of cryptocurrencies against each algorithmically and make use of “liquidity pools”, where investors lock funds in exchange for interest-like rewards; this allows for easier and effortless crypto trading. Most DEXs are also built on open-source code, allowing investors to look at how these work.

 

Exploring The Best Of Decentralised Exchange

Calyx Network ($CLX)

If you’re interested in a token in its infancy, DeFi can certainly help as it offers a limitless range of tokens, from the well-known to the weird and totally random.

Calyx Network was built with the goal to improve multi-chain crypto trading. It is a community-driven project and a permissionless liquidity protocol that enables the sourcing of liquidity from various liquidity sources like DEXs running on top of different blockchain networks to allow trading and token swaps at the best prices.

The highly intuitive and lightweight CalyxSwap simplifies the process, which by users to switch between the tokens in a single transaction at the best prices among all the aggregated liquidity sources (DEXs), which can be managed and governed by community members through a decentralized autonomous organization, CalyxDAO.

The protocol’s native token is Calyx Token ($CLX). The Calyx token ($CLX) has governance objectives set by the network, and by staking the tokens, the $CLX holders will also be able to vote on vital agendas. Calyx Network ($CLX) has just recently begun its presale, and the crowd sale price for 1 Calyx ($CLX) token is currently $0.10. The Calyx Token ($CLX) maximum supply will amount to a total of 500M, and crypto market analysts assure the token will rise in price value instantly, and the coin will become one of the top market-leading crypto coins in the near future.

 

PancakeSawp ($CAKE)

PancakeSwap was launched in September 2020 and is the first-ever and hitherto largest crypto DEX protocol built on Binance Smart Chain (BSC).

The platform has its native token, ($CAKE), and in exchange for staking tokens in protocol liquidity pools, users receive LP tokens that they can farm to earn rewards in ($CAKE). More so, its AMM-powered DEX allows for an easier token exchange, as well as more effortless staking, and yield farming. Contrastingly to other AMMs, PancakeSwap leverages the Centralized Decentralized Finance (CeDeFi) infrastructure that underpins BSC and integrates centralized and decentralized architecture. This design provides users with consistent and low-cost crypto trading.

More so, PancakeSwap has recently introduced a variety of other utilities: a non-fungible token (NFT) marketplace, a lottery system, a prediction market, and Initial Farm Offering (IFO) functionality.

The PancakeSwap price today is $8,28 with a 24-hour trading volume of $238.3M. It has a market cap of $2.3B and a circulating supply of 285B CAKE coins.

Pan cake swap

SushiSawp ($SUSHI)

Similar to its predecessor, SushiSwap is a source-code fork of Uniswap.

As a popular Ethereum-based decentralized exchange (DEX), the platform allows users to swap tokens, earn rewards via yield farming, and more. It was designed to give more control to its community of users and thus, has enforced exceptional community-oriented characteristics such as staking rewards and governance via its SUSHI token. SushiSwap’s creation underscores DeFi’s “decentralized” character, as it reveals how the DeFi community could rapidly change and pursue an activist agenda.

SushiSwap continues to experience a massive growth rate, serving as one of the most popular DEXs available to DeFi traders. As a DEX platform, it rayed out to more blockchains than its peers and, as a result, generated more fees for its users and raised the prospect of holding ($SUSHI) tokens.

The SushiSwap price today is $4,01 with a 24-hour trading volume of $377.7M. The market cap is $509.9M, and it has a circulating supply of 127.2M SUSHI coins and a total supply of 250M.

SushiSawp

Find Out More:

https://presale.calyx.network/

https://calyx.network/

https://t.me/CALYX_NETWORK_OFFICIAL

https://twitter.com/CalyxNetwork

Share This Article

Do the sharing thingy

About Author

More info about author

Analytics Insight



Analytics Insight is an influential platform dedicated to insights, trends, and opinions from the world of data-driven technologies. It monitors developments, recognition, and achievements made by Artificial Intelligence, Big Data and Analytics companies across the globe.

More by Analytics Insight





Source link

Spread the Word!