I don’t have much experience with DEXs as I pretty much have mainly dealt with the centralized exchanges. However, as fees keep rising to move your crypto around I decided to take the plunge and educate myself regarding DEXs before I jump in. Anyways, regarding the assignment, the DEX I enjoyed interacting the most with would have to go to pancake swap, it’s a toss up between uniswap and sushiswap and quickswap I viewed as the DEX that you used when you needed to get stuff done ASAP. In the future I plan on using these four plus any others that will give me a leg up in this space.
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sushiswap i havnt used much but its user friendly and i like the design. uniswap i have used and is my preferred as of now. quickswap i havnt used but i like the polygon network so i will probably be using it in the future. pancake swap i probably will stay away from. i do not like binance at all
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I have limited experience with the named exchanges. I mainly used Sushiswap and Uniswap and i preferred Sushiswap.
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quickswap is great to save on gas fees though the same could be said for sushiswap if used on a chain with cheap fees as well (ex. harmony). due to the same reason, Uniswap isn’t readily available to all end-users due to ethereum gas fees.
Spookyswap provides a lot of interesting trading and yield farming usecases to retain useers.
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I actually have not used any DEXs as of yet. I would probably start out using QuickSwap as it seems to get a lot of positive reviews
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I have yet to use any DEXs and look forward to learning more about each one. From the video it seems like Uniswap and PancakeSwap are the ideal ones to use, however, each has their own pros and cons.
I have used Pancakeswap a lot, because of how family friendly their website is, and how easy it is to use (the fact that they don’t charge you 80 dollars per transaction in bull market also helps;)).
At the beginning I used uniswap a lot, and I found it very easy to use, and very intuitive.
I have used Sushiswap some times when I didn’t find liquidity for some token in uniswap.
And quickswap I have used it very few times, only because of the low commissions.
After all, if you find something simple and easy to do, you will always prefer to do it rather than something you are not familiar with.
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I never used any of the 4 DEX that’s covered on this topic but I’m hoping to one day use them. I do have a question that I’m curious though. Since this exchange is only on Ethereum network and Ethereum classic has a huge amount of gas fees (would be my only guess as it’s major downside). Now that Ethereum 2.0 is released do you guys think it will greatly replace CEX?
I’ve never used these DEXs before, so it’s hard to tell from a trade UX perspective. I will answer this question when I’ll use them.
I have not used any of the DEXs mentioned. I don’t like projects based on surveillance (Ethereum). I have had no need to use the DEX . Some assets are not there.
Uniswap, Pancakeswap, Quickswap, HOP
Since I’ve using Polygon for sometime, I have used Quickswap the most and is very nice. Uniswap doesn’t worked in this chain, at least the last time I tried, however I remember using it in the Ethereum network when gas fees still were low. I never tried Pancakeswap because I always avoid Binance Smart Chain due to its heavily centralization. I never tried Sushiswap.
After watching the videos I’m very curious about Uniswap V3, specially on top of Optimistic which I’m very curious about.
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I have only used Uniswap a couple of times. Way to high fees to make smaller trades. I would like to try Quickswap due to the reduced fees.
I’ve used Pancake, Sushi and Uniswap. All great and very easy!!
Got to say that my favorite exchange would be uniswap becasue im just more used to it. From what I saw from the different decentralized exchanges the interfaces are similar though wiht different backgrounds. The only exchange that caught my eye is quickswap with its predictions tab, dragon lair, and gamehub. The only thing that I do in Uniswap is buy USDC and swap it for desired ERC20 token and store it in coldstorage.
I haven’t tried any of them. But if I was to pick one it will be uniswap. It’s decentralized, permission less and V3 to maximize capital efficiency. Improves trade execution and surpasses centralized exchanges and stable coin.
This page gives a good idea of relative size of DEXes:
https://www.coingecko.com/en/exchanges/decentralized
It’s interesting to see Uniswap v3 has passed v2 in terms of volume.
Also this Forbes article highlights when Uniswap trading volume has overtaken that of Coinbase:
https://www.forbes.com/sites/leeorshimron/2022/11/23/dexs-gain-market-share-as-faith-in-centralized-crypto-players-erodes/?sh=4df2a6f13f40
But Uniswap supports only the ERC20 universe.
There are dapps such as Shapeshift that allow cross-chain swaps (including native Bitcoin and ETH), in a completely non custodial way. It uses for instance the Shapeshift hot wallet where you control the 12-word seed. This wallet supports both native BTC Segwit addresses and native ETH addresses, using Thorchain in the background for the swap.
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?
Since I have no experience with using the Dexs listed here I can only comment on my first impression. I think user ability is uniform from one to another. Simpler is better to avoid placing a trade that is unintended.
I have used Uniswap, Sushiswap and Pancakeswap. Quickswap looks quite nice, so I’ll remember that one for the future. Uniswap seems to have the least amount of features, the others have a lot more to offer. But they are a all quite similar and easy to use. I like that Pancakeswap and Quickswap has perpetuals.
The links in the previus video no longer work.
what are the updated links for
- Get Kovan ETH from Chainlink – https://faucets.chain.link/kovan
- Ethdrop for getting Kovan ETH – https://ethdrop.dev/