What is a DEX?

A DEX (Decentralized Exchange) is a cryptocurrency trading platform that operates without a central authority, intermediary or custodian.

Unlike traditional centralized exchanges (CEXs), such as Binance, Bybit, and Coinbase, DEXs run on blockchain technology using smart contracts to facilitate peer-to-peer (P2P) trading directly between users' wallets.

In other words, a DEX fulfills one of crypto's core responsibilities: to enable financial transactions without the use or supervision of a middleman. Popular DEX platforms include Uniswap, PancakeSwap, Raydium, and Jupiter.

How DEX trading works

When you trade on a DEX, you interact directly with smart contracts deployed on the blockchain. Your tokens never leave your wallet custody until the exact moment of trade execution.

Your wallet must be connected to the DEX interface to initiate trades. Each transaction requires blockchain gas fees.

DEX vs CEX comparison

Centralized Exchanges (CEX) characteristics:

• Require account creation and often KYC verification

• Hold custody of your funds while trading

• Can freeze accounts or halt trading

• Offer customer support and insurance

• Generally higher liquidity and tighter spreads

Decentralized Exchanges (DEX) advantages:

• No account registration required

• You maintain custody of your funds at all times

• Cannot be shut down by any single authority

• Available 24/7 without maintenance windows

• Access to new tokens immediately upon launch

• Privacy-focused trading without KYC requirements

Why we chose to launch with DEX over CEX

Our community is always our number one priority - before, during, and after TGE. The TGE should primarily focus on providing value to our community.

We chose the DEX route for several reasons that align with our community-first approach. We decided that the resources and token allocation required to list on a CEX would be better spent on the station operators who are building our network.

Our community alignment strategy recognizes that the people who truly understand our value proposition are our contributors, and they deserve our primary focus.