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The Thunder DEX (Decentralized Exchange) will be a peer-to-peer marketplace where transactions occur directly between members of the S.U.N. Ecosystem & public.
We anticipate that the THUNDER DEX will be developed by June 2023.
A DEX’s financial transactions aren’t officiated by banks, brokers, payment processors, or any other kind of intermediary.
WHEN DID DEXs START?
DEXs are booming in the first quarter of 2021, $217 billion in transactions flowed through decentralized exchanges. As of April 2021, there were more than two million Defi traders, a ten-fold increase from May 2020.
WHAT IS A DEX?
Centralized exchanges like Coinbase allow for exchanges between fiat and crypto.
A D.E.X. instead exclusively trades cryptocurrency tokens for other cryptocurrency tokens.
DEXs are simply a set of smart contracts that establish the prices of various cryptocurrencies against each other algorithmically and use “liquidity pools” — in which investors lock funds in exchange for interest-like rewards — to facilitate trades.
While transactions on a centralized exchange are recorded on that exchange’s internal database, DEX transactions are settled directly on the blockchain.
DEXs are usually built on open-source code, meaning that anyone interested can see exactly how they work. That also means that developers can adapt existing code to create new competing projects — which is how Uni-swap’s code has been adopted by an entire host of DEXs with “swap” in their names like Sushiswap and Pancakeswap.