@kolpakhipe
Decentralized exchanges have reshaped crypto trading. From early order‑book models to automated market makers, DEXs now offer permissionless liquidity, lower slippage, and cross‑chain swaps. TVL in AMMs eclipses centralized rivals, and layer‑2 rollups cut fees. As governance tokens empower users, the next wave will focus on composability, privacy, and fully on‑chain settlement.
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