Market structure

Decentralized exchange (DEX)

An on-chain venue for swapping assets without a traditional broker.

What it means

DEXs use liquidity pools, smart contracts, or on-chain order books to execute trades.

Why it matters

DEX trading adds contract, liquidity, slippage, MEV, approval, and wrong-token risks.

Same category

Related glossary reads

Market structure

Liquidity

How easily an asset can be bought or sold without moving price heavily.

Glossary read
Market structure

Slippage

The difference between expected price and executed price.

Glossary read
Market structure

Holder concentration

How much supply is controlled by the largest wallets.

Glossary read
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