Tuesday Analysis: The Evolution of DEXs and the Battle for Volume
Decentralized exchanges (DEXs) for contracts are one of the most profitable and competitive sectors of DeFi. The main battle is between two models: the 'Order Book' model, led by $DYDX, which offers a centralized exchange-like experience; and the 'Synthetic Liquidity' model (GLP), popularized by $GMX, where liquidity is provided by a basket of assets. Understanding the advantages and disadvantages of each model is key to betting on the future of decentralized trading.
Which perpetual DEX model will dominate the future? Click on DYDX and GMX to compare the platforms, and analyze the role of SNX infrastructure in the sector.