When you were there during the initial periods of decentralized finance, you may recall the experience to utilize the initial wave of decentralized exchanges. Slow, clumsy, counterintuitive, and simply annoying. When discussing decentralized systems, these are among the first characteristics that spring immediately to mind. However, recently, decentralized exchanges(DEXs) have begun to quickly infringe on the usefulness and accessibility of centralized platforms, which constitute the leading means for most investors of today’s time. In this post, we will have a look at the top DEXs of 2022. These all are getting viral. Let us get started now. 

The Best DEXs For 2022 

1. Uniswap

Uniswap, the uncontested ruler of DEXs, was the primary one to acquire a degree of recognition and trade volume that rivaled even the most well-known centralized exchanges. Uniswap is the first AMM that enables users to act as providers of liquidity by donating assets to decentralized liquidity pools. With that, they distribute a portion of the charges generated by their pool, resulting in passive revenue. Uniswap has seen several modifications since its first debut. The 3rd edition of this decentralized exchange is now live, delivering enhanced oracles, and numerous price tiers. A lot of crypto options are available with Uniswap for trading. 

2. PancakeSwap 

The next amazing DEX after Uniswap is PancakeSwap. Although PancakeSwap has an amusing moniker, it has been revealed to be no laughing matter. The DEX is presently the most prominent exchange marketplace on BSC of Binance, with a daily trade volume of over $300 million. PancakeSwap does not generate funds through an IDO or ICO. Rather, its team bootstrapped it directly. Currently, the site is supported by a treasury, which gets a commission of 12%. PancakeSwap accepts hundreds of BEP-20 coins. The governance token used in PancakeSwap is CAKE. PancakeSwap, in addition to its DEX capabilities, has a slew of extra functionality.

3. Curve

Curve is going to be just right up the street if someone has invested in stablecoins. This DEX offers a sophisticated swap system that would allow traders to exchange stablecoins for a small charge of 0.04 percent. Equal portions are distributed to token owners and liquidity providers. 

Curve uses extremely bonding curves that allow users to trade stablecoins with minimum slippage. It was first launched in 2017 on Ethereum. There are a lot of competitors of this decentralized exchange platform. Some of them are Polygon, Avalanche, and Fantom. Curve has yet to gain popularity in the next coming years. 

4. SushiSwap 

SushiSwap provides lots of variety, whether you enjoy sushi or otherwise. The DEX is a variant of the famous Uniswap protocol that allows buyers to exchange assets across blockchain networks and layer-2 systems. The system was once a destination to host the Avalanche and Fantom blockchains. It is known to be the deployer of fresh chains. SushiSwap, as an AMM, enables individuals to offer liquidity to the site in order to obtain payments. It also has a number of other characteristics, such as piles of various yield pools. The utility coin of SushiSwap is known as Sushi. 

5. Raydium 

Unless you like Solana, Raydium is for you. Raydium is the last one on the list, and it is an AMM and DEX that is generally related to Solana. The network combines availability from its very own liquidity pools and the order books of Serum, ensuring that consumers forever receive the highest price. This decentralized exchange platform has amassed an amazing $40 billion in trade volume since its introduction. Projects that are getting developed on the blockchain of Solana have the chance to interact with Raydium. Some NFTs are already available in the ecosystem of Raydium. You can watch them out. 

There Are Some Challenges That Decentralized Exchanges Face

Given the supposed technologies and components of a decentralized exchange versus a centralized platform, the centralized platform leads the crypto market in terms of trade volume. Many people are not aware of decentralized exchanges. Therefore, more and more traffic is arriving on centralized platforms like Binance, Coinbase, etc. Aside from the absence of knowledge, DEXs become a victim of poor liquidity, making it difficult to attract consumers and experienced buyers. Approach a reputable crypto source and find the price predictions of decentralized exchanges. Sushi, CAKE, Bake coin price prediction, etc are available there. You should find out about such platforms. 

Summary

In this post, you have seen the best DEXs for 2022. DEXs are also known as AMM because they automatically create markets without order books. You do not put an order while buying or selling cryptocurrencies. Mostly, ERC-20 and BEP tokens are swapped on decentralized exchanges. You must know how to use decentralized exchanges because they are not owned by anyone. That is why they are decentralized. On the other hand, platforms like Binance and Coinbase are centralized. The future of DEXs does not seem to be too bright because they are not known to all the crypto enthusiasts, especially new ones.