Hey, everyone! LeoDex V3 currently integrates with four major protocols: THORChain, Maya, ChainFlip, and Rango. These DEXs strive to be the fastest, cheapest, and most secure platforms, competing with CEXs and gaining ground over time.
In this clip:
- DEXs don’t compete with each other but with CEXs
- Large swaps are cheaper via THORChain
- CEXs have started using DEXs for large swaps
- Gas fees on DEXs can be cheaper than swap fees on CEXs
Decentralized exchanges don’t primarily compete with one another but instead challenge centralized exchanges. DEXs offer unique advantages that increasingly attract both retail and institutional traders.
For large swaps, THORChain stands out as a cost-effective option. Its protocol enables efficient cross-chain trading, often making it cheaper than executing similar trades on CEXs. Additionally, gas fees on DEXs can be lower than the swap fees charged by CEXs.
Interestingly, CEXs have begun leveraging DEXs for large swaps. Since CEXs must re-balance their order books, they need to swap large amounts of assets, and doing so via DEXs is often more cost-effective. However, CEXs still maintain advantages in terms of speed.