Here we provide a brief overview of the DEX ecosystem.

Injective Protocol#

Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market with zero gas fees and fast transactions.

Binance DEX#

The Binance DEX runs on its own blockchain, Binance Smart Chain (BSC). The Binance DEX often has high liquidity, which has been the main weakness of other DEXs. The DEX will remain crypto-to-crypto and thus outside the purview of regulators.


Matcha is powered by 0x, a decentralized peer-to-peer exchange protocol that runs on the Ethereum smart contract infrastructure. It aggregates the best prices across multiple liquidity sources.


Uniswap is a protocol built on Ethereum for swapping ERC20 tokens without the need for buyers and sellers to create demand. It does this via an Automated Market Making (AMM) model which sets an equation that automatically sets and balances the value depending on how much demand there exists in the market.


SushiSwap is a fork of Uniswap that rewards liquidity providers ("LPs") with its native SUSHI token.

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