Share your thoughts on the 4 DEXs I covered in the video. Which is your favorite? What kind of experiences have you had? Do you have questions on any of them? What do you think of the user experiences of them?
As much as I want to give Uniswap the accolades for this, I have to say the award goes to PancakeSwap
There’s something charming about the playful nature of the interface.
And you can play around with liquidity pools and moving things around. And if you mess up, you’re not $50+ down the toilet.
Plus they have expanded on the idea of what a dex should be. PCS has become somewhat a hub for defi activities, offering everything that Uniswap V2 has, and then some.
Sushiswap has done this to a degree aswell.
Whereas these players are focused on gimmicks and fun, Uniswap is obviously staying tunnel-visioned to their mission and innovating where possible.
What do you homies think will be shipped with Uniswap V4?
I have used Uniswap, Sushiswap and Quickswap. The last time I used Uniswap was probably version 2 as the fees were really high but it was easy to use. I did move a little Eth to Polygon to experiment with layer 2 and used Quickswap and Sushiswap there. Both Dex’s were really user friendly as well as inexpensive on Polygon.
I’ve used all of the DEXs covered in the video, however, only for trading. Aside from fee amounts, they all feel the same. I prefer QuickSwap, due to the reduced fees compared to Uniswap, and more decentralized nature compared to PancakeSwap.
I have only used UNISWAP on a couple of occasions and it was a good experience swapping tokens and coins.
PancakeSwap - a lot of information in the GUI, one of my favorites
SushiSwap - good looking user interface, would use it with Pancake Swap
Uniswap - no improvement to pancake or sushi
QuickSwap - seems to have more info on screen than Uniswap, would use it if I didnt use sushi or pancake.
I know about Uniswap, Sushiswap, Simpleswap and Pancakeswap. I don’t have a favorite DEX but they are easy to use with just exchanging tokens. However, I’m still a bit unsure about liquidity pools and yield farming. I have questions on how do liquidity pools and yield farming work on DEXs? With Uniswap and Pancakeswap, they appear pretty simple to use with just swapping tokens for another token plus their interface is pretty appealing to the eye.
Quickswap is the only one which i didn’t know about. Have used pancakeswap quite often and I did find its workings not very difficult, rather user friendly. I believe the others work very similar and differ in fee’s.
I used all 4 of them in the past and i was very happy, in special with the interface of all of them. Keep it simpl and you have a happy User.
I personally have used Uniswap (before the high gas fees), and I really liked it. But due to high cost in bridging Assets from one chain to another, I stopped using AMM´s. The only one I used a lot was on XDAI chain (soon to be called Gnosis Chain) called Honeyswap, because the fees were really nothing compared to ETH mainnet .
The Interface between This four protocols Uniswap, Quickswap, Sushiswap and Pancake Swap, is nearly identical, if not the same, but they get the job done and they are really easy to use.
I will like to use the Optimism which is a L2, and see the perks of using this layer.
The simpler the better
I’ve only really used Uniswap before. The experience was okay, but for some tokens I found that I had to set the slippage to a high percentage for a transaction to go through.
I have heard that Sushiswap offers more features beyond a dex such as dutch auctions for tokens (which I thought was a cool concept)
It’s remarkable how similar the UIs for all 4 dexs look. Well I suppose they’re all forks of Uniswap after all, but you’d think they might revamp the look a bit. I’d say I like the look of the pancake swap interface the most.
One thing I’m curious about is how front-running bots work. I wonder how they are able to monitor the transaction before it is mined.
- Uniswap, got the airdrop back in 2020, but yeah, fees are a killer, still my goto though
- PancakeSwap, binance chain does sidestep the gas fees
- Quickswap, similar to above
- SushiSwap, haven’t used it so can’t say
Been playing with some of the current DeFi and although Uniswap paved the way but is simply to expensive for smaller transactions due to ETH gas fees, I been stung by this by playing with some smaller amounts that are going to cost more to remove than they are in value so kinda not worth it… hoping that ETH 2.0 solves it, lol
I have used various networks and DEX, with my current favourite being on Avalanche:
Penguin Finance… hmmm this might not be DEX actually…
Enjoying playing with smaller amounts to learn the mechanics without costing a fortune by using Layer 2, AVAX & BSC
Unfortunately (or maybe luckily), I haven’t used any DEXes as of yet. Don’t know enough. Haven’t actually touched what little crypto I have since 2016 - so I’m glad to have more options than coinbase, binance, etc when I do decide to put this education to use
I’ve used the 1inch Dex but the fees are way too much for small transactions. Now I use Raydium on the Solana blockchain to swap tokens. Looking forward to explore Avalanche, Cardano and Ethereum L2s.
I wish I watched this video before playing around with DeFi. I’ve tried Uniswap v2 and hated it. My transaction got stuck, and so I had to cancel it… lost $34 in the process, then had to put it through again with higher gas fees so I ended up paying 20% in fees just to make a trade. It’s awful. Only good for large transactions - this is why I dislike ethereum, it’s only for the big players.
For small players like me, I enjoyed using all the other DEXs like pancakeswap, quickswap, traderJoe, etc since their fees were low. Pancakeswap is super cute and was really fun to use. Quickswap is with Polygon, which I also like because of the super low fees.
It was really confusing to ensure that I add the network onto Metamask, so if it was BSC, I should add that network and use a BSC DEX. I also learned that I had to bridge the networks to use the other DEXes. It was difficult to navigate but I finally figured it out. This is definitely something you need to practice using to understand it.
uni - best dex with the most popular tokens, but its on ethereum and gas is high.
pancake - everything is great except for being on BSC chain, which some argue as the least decentralized
sushi - same as uni except they have multichain access, which solves many of the gas issues
quick - great dex, like uni but on layer 2. it also as limit order functions.
Pancake swap is definitely fighting for my #1 spot, but because its only on BSC, i think Sushi swap will have to take first place. Uniswap use to be my go to swap, however due to gas fees i ended up moving to others that would provide cheaper experiences. This is one reason Pancake and sushi are doing better, and will continue to especially when Sushi swap Trident is released.
I think services like Rubic will eventually help decrease fees and offer cross chain services that will help all of these work together to serve the larger community that has yet to arrive into crypto.
I haven’t had any experience with any of these 4 DEXes - still very new to DeFi so thankful for a course like this to help me minimize making mistakes. I did use Simpleswap and it was pretty easy, so I’m sure it won’t take too much of a learning curve to use these ones. Looking forward to practicing. I didn’t even know there was such a thing as “test eth!” I do know that when I start using DeFi, at least for now, I’ll probably try to stick with non-Eth chains to avoid the gas fees.
apart from some fee issues they feel similar to me. Is pancake a true Dex since its on BSC and then what are the implications??