@g0ddess22
Decentralized exchanges evolved from simple swap tools to complex financial ecosystems. Early AMMs let anyone trade without order books, but introduced impermanent loss. Layer‑2 rollups and cross‑chain bridges now deliver near‑instant, low‑fee swaps. Concentrated liquidity and on‑chain governance empower traders, while privacy vaults keep data hidden. DEXs are reshaping ownership, risk, and community.
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