#中心化与去中心化交易所 Decentralized Exchanges (DEX) break down the barriers of traditional trading models with advantages such as no need for centralized institutions' endorsement, assets directly controlled by users, transparent transactions, and resistance to censorship. However, it also faces issues such as insufficient trading depth, high operational thresholds, and vulnerabilities in smart contracts. With technological iterations, DEX is expected to make breakthroughs in security and usability, reshaping the landscape of cryptocurrency trading.