DEX (Decentralized Exchange) is a DApp where cryptocurrency exchange activities take place between users according to an automatic process, completely not controlled by any intermediary. Here, users do not need to register for an account and verify personal information (KYC), so transactions take place completely anonymously and by the user’s own asset management.
With the above characteristics, DEX has an advantage over traditional centralized exchanges (CEX) in terms of anonymity, security and self-control. Therefore, DEX participants will avoid the risk of information disclosure or asset theft – one of the major problems of Crypto investors.
Each decentralized exchange runs on a certain blockchain or blockchain, serving for the trading of assets belonging to that network. Currently, RICE has integrated the most popular DEX in the DApps feature, helping users to trade conveniently right on the wallet.
BSC DEX Category on RICE:
1. PancakeSwap
PancakeSwap is one of the first decentralized exchanges to build on BNB Smart Chain under an automated market maker mechanism (AMM DEX), allowing users to exchange BEP-20 standard tokens. PancakeSwap was first launched in 09/2020 and is always in the top 3 most traded DEX exchanges. Until now, there has been no official announcement about the founding team of PancakeSwap.
- Total current users: 3.1 million
- Number of transactions in the last 30 days: 40 million VND
- Total Value Locked (TVL): $4.4 billion
Official PancakeSwap DApp: https://pancakeswap.finance/
2. Biswap
Similar to PancakeSwap, Biswap is an AMM DEX deployed on the BSC network and supports trading of BEP20 tokens. Although just launched in May 2021, thanks to extremely beneficial marketing policies for users, Biswap is always in the top of the new DEX exchange that is most popular with investors. The outstanding advantage of Biswap is collecting the lowest transaction fees in the market (0.1%), gas fee return up to 70% and implementing 3 Referral type to share commissions for referrers.
- Total trading volume: 45.85 billion USD
- Regular active users: 435.57 thousand users
- Total Value Locked (TVL): 927 million USD
Official Biswap DApp: https://biswap.org/
3. MDEX
MDEX is an AMM DEX built on the idea of Fund Poo similar to Uniswap or Sushiswap, operating on 3 platforms: Huobi Eco-Chain, BSC and Ethereum. MDEX is a handful of DEXs that integrate multi-chain to create a DEX ecosystem (DEX, IMO, DAO). The highlight of MDEX is the use of “dual mining” mechanism, ie users can both exploit liquidity (liquidity mining) and exploit transactions (transaction mining).
- Total Value Locked (TVL) on Heco & BSC: $813 million
- Total Value Locked (TVL) on BSC: 537 million USD
Official MDEX DApp: https://mdex.com/
4. ApeSwap
ApeSwap is an AMM DEX that works on Binance Smart Chain and Polygon. Besides providing popular products such as: Swap, Liquidity, Yield Farming, Staking Pools, ApeSwap also implements some other special features such as IAO (Initial Ape Offerings) – an open launch platform to sell new tokens and NFA (Non Fungible Apes) – digital apes collection.
- Total trading volume: 16.45 billion USD
- Total Value Locked (TVL): 210 million USD
Official ApeSwap DApp: https://apeswap.finance/