ICrypto

Hotest Blockchain News in First Media Index

Top 4 Decentralized Exchanges For Crypto

Like? Rate It!
Rated: 

The other one has lower APY in staking and farms. However, the third one has lower APR on BUSD/BNB/USDT farms. High APR on lesser known tokens. But the last one has big, high volume, but expensive and slow compared to BSC chain. Let’s discover who are those decentralized exchanges.

DEX # 1: NomiSwap

he first DEX I am looking at is NomiSwap. They are part of Nominex ecosystem. NomiSwap is the new DEX on the block, their launch was in January 2022. In July, they were third in TVL on BSC, just behind BiSwap. They managed this within just months of launching.

  • You can stake the native NMX token at 9.8%
  • boosting pools are interesting, with up to 88% APY.  You can lock your funds in a pool for a specified period in exchange for an increase in the APR. 
  • Earn a holder bonus. The longer you farm, the more extra rewards in NMX tokens you get.
  • Low swap fees. Only 0.1%. This saves commission on large swaps. 
  • Cashback commission in NMX tokens. That 0.1% swap fee I just mentioned. Well, all the swap fees are 100% returned to participants of NomiSwap.

Also, let’s have a look at some of their other features:

  • There are plans to launch on other blockchains. Currently they’re holding a poll, to see their users preference.
  • They had a good idea to hold the NMX price during the bear market. Nomiswap started spending 100% commission on burning tokens. In other words, launching on more blockchains will bring more commission. As a result, they will also burn more tokens.
  • A launch on major exchanges is in the making for Q1 2023. Besides Binance, also other major exchanges are planned. For example, KuCoin, OKX, ByBit etc.
  • This is also a good moment to start staking the NMX token. It has the potential to grow in price. Because it is a new DEX token.

Here’s a chart which I will show you after every DEX I discuss. So, what do you think of NomiSwap? Drop us a comment. And here’s our second DEX, BiSwap.

DEX # 2: BiSwap

BiSwap is another DEX on the BSC chain. This means that you can only trade in BEP-20 tokens. Just like NomiSwap and a DEX we look later at, PancakeSwap. So, let’s look at some features of this DEX:

  • The BiSwap token is the BSW token. 
  • Their trading fee is 0.2%, and they return 50% to their users.
  • They offer a three-type referral system. This means that you get different rewards for Swaps, Farms, and launch pools (staking).
  • The BSW token is already listed on a few exchanges. For example, Binance, MEXC Global, Gate, and KuCoin. It’s also available on PancakeSwap.
  • They have an NFT launchpad and marketplace
  • Like all BSC chain DEXs, they have fast transactions.
  • They are multi-chain. In February, they added Fantom
  • launch pool offers 27.27% 
  • Their farms offer up to 39.26%

The NomiSwap farm and launch pool APY/APR are currently offering better returns. This brings us to the biggest competitor on the BSC or BNB chain, which is PancakeSwap.

DEX # 3: PancakeSwap

PancakeSwap is by far the biggest DEX on the BSC chain. They are also multichain and offer, besides BSC, also Ethereum and Aptos. They offer a fast transaction speed and low latency. This is typical for the BSC/BNB chain. The network fees are also low, and they offer a user-friendly UI.

They currently offer a high APR on CAKE in combination with three other coins:

  • CAKE/BNB 43.25%
  • CAKE/BUSD 38.08%
  • CAKE/USDT 48.46%

These are flexible rates and can change during the day. This is because they make use of their so-called multipliers. The CAKE/BNB farm has a 40 multiplier. This is the amount of CAKE you receive per block. On lesser-known tokens, they offer APRs up to 155%.

Besides offering liquidity pools and staking, they also offer a limit order a lottery. As a CAKE holder, you can also vote on governance proposals. Have you used PancakeSwap? Tell us about your experience in the comments.

And here is the big competitor outside of the BSC chain, Uniswap.

DEX # 4: UniSwap

runs on Ethereum. This gives it some advantages, but also some disadvantages. An advantage is that Ethereum boasts one of the biggest ecosystems. This attracts many users to Uniswap. 

They offer trading in pretty much all ERC-20 tokens. Their launch was back in 2018, and they have a market share of 48%. Uniswap has a 24-hour trading volume that is only exceeded by BINANCE and Coinbase.

Furthermore, they are multichain: 

  • Ethereum
  • Optimism
  • Arbitrum
  • and Celo

However, there are also some disadvantages. For example:

  • Slow transaction speeds and high latency. This is where the BSC DEXs have a clear advantage.
  • Add to this the Ethereum gas fees. Even after the Merge they are still high.
  • swap fee is 0.3%. Their V3 offers pools at three fee levels: 0.05%, 0.30%, and 1%.
  • Their UI is complex to use.

Providing liquidity can earn up to 20% – 50% on Uniswap. So, Uniswap is big but also expensive. I prefer the BSC chain for DEXs. They offer fast and cheap transactions.

Share
 27.11.2022

Hotest Cryptocurrency News

End of content

No more pages to load

Next page