Since the recent FTX exchange exposure and crash, the entire cryptocurrency community has been clamoring to move assets off centralized exchanges into decentralized exchanges. The phrase “not your keys, not your crypto” has been in every trader’s mouth in the last few days. Here are our top 3 Decentralized Exchanges (DEX) Tokens to watch in November 2022.
Decentralized exchange tokens have a total market capitalization of $11,204,028,711 and a total trading volume of $1,242,178,391.
Note: This List is sorted by their market capitalization from lowest to highest
PearDAO (PEX)
- Unit Price: $0.09899
- Market Cap: $5,204,637
- Distinct Features: In the future, its marketplace will support any kind of commercial transaction, accept any kind of payment, and be chain-independent.
PEAR is a decentralized online marketplace. The team wants to create a decentralized marketplace that is open, free, and allows for the easy exchange of products and value. This is done using a decentralized payment system like cryptocurrencies, a decentralized marketplace (PEAR network), and a decentralized Moderator (PEAR DAO).
By enabling the exchange of value between on-chain, off-chain, and cross-chain ecosystems, much like what we are witnessing in centralized e-commerce marketplaces like eBay and Amazon, Peardao (PEX) seeks to complement the CEX and DEX-driven cryptocurrency environment.
Members of the decentralized autonomous organization (DAO) can decide how the rules for their ideal marketplace should be structured.
Exchange: PEX is currently trading on MEXC, BKEX, and PancakeSwap (V2).
Wombat Exchange (WOM)
- Unit Price: $0.2304
- Market Cap: $5,288,788
- Distinct Features: The customizable liquidity pools offered by Wombat enable staking with a single token, facilitating liquidity growth without the need for intricate operations.
Wombat Exchange is a natively developed multi-chain stable swap on the BNB Chain.
Wombat uses the concepts of asset-liability management and coverage ratio, allowing for the single-staking of stablecoins for sustainable yield and the ability to swap different stablecoins with little slippage.
The Wombat algorithm allows users to maximize capital utilization and gain higher yields by enabling the possibility of achieving a 100% capital utilization ratio with no impermanent loss.
The DeFi ecosystem will be activated using its single-token LP tokens as a base for everyone to build upon.
Exchange: WOM is currently trading live on CoinW, LBank, and PancakeSwap (V2).
Polkadex (PDEX)
- Unit Price: $1.31
- Market Cap: $9,797,634
- Distinct Features: The DeFi ecosystem’s Polkadex cryptocurrency exchange is a fully decentralized peer-to-peer orderbook-based platform built on Substrate.
A non-custodial peer-to-peer trading platform, Polkadex, combines the advantages of centralized and decentralized exchanges into a single solution.
Modern decentralized exchange Polkadex solves problems with typical DEXes, such as front-running, arbitraging, price slippage, and high transaction fees.
Furthermore, Polkadex has additional features, such as an IDO platform built entirely on the blockchain and fungible assets for teams looking to mint their own native tokens and NFTs.
Through products that can be used by institutions, blockchain project teams, and amateur and experienced cryptocurrency traders, Polkadex wants to introduce DeFi to a wider audience.
Exchange: PDEX is currently trading live on KuCoin, Gate.io, Hotbit, AscendEX (BitMax), and LATOKEN.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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