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What does dex mean in blockchain (how to play blockchain defi)

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What does dex mean in blockchain? In blockchain, dex refers to decentralized ex

What does dex mean in blockchain (how to play blockchain defi)

What does dex mean in blockchain? In blockchain, dex refers to decentralized exchange, which can be decentralized trading platforms, decentralized wallets, and third-party applications similar to WeChat Pay. Smart contracts based on the Ethereum network also fall under the category of dex.

Since blockchain is an open-source network system, anyone can use it to create their own digital assets, including tokens. However, the majority of projects currently use public chain technology for development and operation. Therefore, dex in blockchain is also known as “distributed finance”.

How to play blockchain defi

In the past week, the DeFi sector has developed rapidly. According to data from DappRadar, the total value of tokens locked in this field is approximately $9.16 billion, with Uniswap and Curve being the top three. One of the most prominent projects in the DeFi sector is the decentralized exchange aggregation protocol Compound (COMP).

According to DeBank data, from January to early June this year, the amount of funds locked on the Compound platform has grown by 260%. At the same time, the collateralization rates on platforms like Maker and Aave have increased by over 50% and 100% respectively. Compound’s liquidity mining yield reached a record high of over 300%. This indicates that in the concept of DeFi, users can deposit assets into smart contracts to earn interest income. Additionally, since its design mechanism allows anyone to participate, more stablecoin rewards can be earned by providing liquidity to protocols, resulting in more returns.

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