As far as top decentralized exchange platforms in 2024, they follow a pipeline and have created a strong user base already. For entrepreneurs looking for DEX business models, these exchanges will be the perfect choice without a doubt. Let’s take a look at it one by one.
PancakeSwap
PancakeSwap is among the top-ranked DEX platforms in 2024 with a staggering trade volume of more than 93,000,000 already. Built on the Binance smart chain network, PancakeSwap offers a variety of interesting features to its users, including Lottery, IFO, Syrup pool, etc. The AMM-based protocol allows users to swap BEP-20 tokens with Cake being the platform’s utility token.
UniSwap
Uniswap is another highly popular DEX platform on the Ethereum blockchain and has grabbed a lot of attention in the Crypto industry. Launched in 2018, Uniswap allows the swapping of ERC-20 tokens and has a trading volume of $320,000,000. Built on AMM protocol, Uniswap offers several options for its users and its native token is UNI.
SushiSwap
Sushiswap was earlier forked from Uniswap but later grew into a separate entity after tremendous growth. The AMM-based protocol was built on Ethereum and came into the industry in 2020. Sushiswap boasts of a trade volume of more than $3,000,000 and has emerged as a tough competitor to Uniswap.
dYdX
dYdX is by far, the top DEX platform in terms of trade volume as the platform has already reached nearly $750,000,000. The Order-book-based protocol runs on the Ethereum blockchain and users in this exchange can trade with zero fee. $DYDX, the native token is needed for users to participate in voting and governance. The exchange has a unique way of revenue-making through the maker-taker fee structure.
Curve
Curve is another DEX platform that is up and running with the popular exchanges and has a trade volume of more than $71,000,000. The platform uses the AMM feature to maintain liquidity and has got very minimum slippage tolerance. Launched in 2021, the exchange runs on multiple chains and is making huge strides.