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Ethereum
DEX (Decentralized Exchange)
On-chain exchange: trade without custodian (Uniswap, Curve, etc.)
What is DEX (Decentralized Exchange)?
Smart-contract-based exchange where users swap tokens via liquidity pools (AMM model) without a central intermediary. Major DEXes: Uniswap, Curve, Balancer, PancakeSwap, Jupiter (Solana).
Context anchor
Opposite of CEX (centralized like Binance, Coinbase).