@q1uick16
From Mt. Gox to AMMs, decentralized exchanges have rewritten trading. Removing intermediaries gives settlement, fees, and custody. Modern DEXs use AMMs, liquidity pools, and cross‑chain bridges on Ethereum, Solana, layer‑2s for near‑zero slippage and 24/7 liquidity. Still, impermanent loss, governance risks, and UX pain keep many on the fence. The next wave merges on‑chain order books, flash‑loan protection, and privacy tools to make trading as smooth as a bank account, but without a custodian.
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