In the digital currency industry, the leading coin of a decentralized exchange refers to the token with the highest market value and the greatest influence. With the continuous development of the cryptocurrency market, the leading coin of a decentralized exchange has attracted much attention. Let us delve into this topic and reveal the story behind the leading coin of a decentralized exchange.

As the leader of the digital currency market, the leading coin of a decentralized exchange is self-evident. In fact, to understand the leading coin of a decentralized exchange, you first need to understand the essence of a decentralized exchange. A decentralized exchange is a trading platform based on blockchain technology. Unlike traditional centralized exchanges, decentralized exchanges are more secure, transparent, and decentralized. In this context, the leading coin of a decentralized exchange is particularly important.

Smart contract platforms represented by Ethereum are the first choice for the leading coins of many decentralized exchanges. As the leader of the blockchain industry, Ethereum's smart contract function provides strong support for many decentralized exchanges. The automated execution, high security, and sound developer ecosystem of smart contracts make Ethereum the only choice for many decentralized exchanges.

In addition, cross-chain ecosystems such as Binance Smart Chain (BSC) are also emerging in the competition for leading coins in decentralized exchanges. As a smart contract platform launched by Binance Exchange, BSC has attracted many projects to go online with its advantages such as low transaction fees and high performance, and has also brought more choices for leading coins in decentralized exchanges.

Among the leading coins in decentralized exchanges, tokens of DeFi projects also occupy an important position. With the help of smart contracts and the concept of decentralized finance, DeFi projects provide users with more financial service options, and their tokens are therefore highly sought after. For example, tokens of DeFi projects such as Uniswap and SushiSwap are at the top of the leader coin rankings of decentralized exchanges.

In addition to technical and project backgrounds, the liquidity of leading coins in decentralized exchanges is also one of the important reasons for their popularity. Liquidity determines the trading depth and price stability of a token in the market, which is crucial for users of the exchange. Therefore, tokens with good liquidity in multiple exchanges are often more likely to become leading coins in decentralized exchanges.

In general, the leading coins of decentralized exchanges are not only the tokens with the highest market value, but also the tokens with advantages in technology, liquidity, project background, etc. Their rise not only reflects the development of the digital currency market, but also provides strong support for the progress of the entire blockchain industry. With the continuous evolution of the industry, the position of the leading coins of decentralized exchanges will become more stable, contributing to the prosperity and development of the entire digital currency ecosystem.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

In the world of cryptocurrency, decentralized exchanges have sprung up like mushrooms after a rain, but centralized exchanges are still more popular with investors. There are many decentralized exchanges on the market, and the leading coin of decentralized exchanges is UNI. Unlike traditional centralized exchanges, decentralized exchanges do not store funds for their users, and their transactions are conducted through smart contracts and atomic swaps, so that the currency will never pass through the custody service because it is only peer-to-peer. After introducing decentralized exchanges, the following coin circle editor will give a more comprehensive introduction to which decentralized exchange leading coin is it?

 Which is the leading coin of decentralized exchanges?

The leading coin of decentralized exchanges is the UNI token. In fact, this UNI token is the native token in the Uniswap exchange. Uniswap is the first automatic market-making trading protocol built on the Ethereum blockchain. In the blockchain world, it is necessary to reshape the centralized business model in a decentralized way, and exchanges are only part of it; at the same time, centralized exchanges face risks such as power supervision, hacker theft, and the exchange's own running away. In particular, the control of assets is not in the hands of ordinary users. For the concept of disintermediation and trustless third parties, decentralized exchanges are an indispensable part of the more encrypted world.

Before Uniswap launched the AMM automatic market-making model, the DEX (decentralized exchange) field continued the traditional order book market-making and over-the-counter market-making models, and could not support a large number of users in terms of transaction speed and transaction depth, and also lacked an incentive model.

Uniswap is an Ethereum-based protocol that aims to facilitate automatic exchange transactions between ETH and ERC20 token digital assets (any ERC20 trading pair is supported after the release of V2). Uniswap is fully deployed on the chain, and any individual user can freely deposit tokens for exchange and withdraw them freely, without the registration, identity verification and withdrawal restrictions of centralized exchanges.

 What are the decentralized exchanges?

At present, decentralized exchanges include Uniswap
V2, MDEX, SushiSwap, Curve, 1inch, etc. The following Coin Circle editor will introduce these five DEX exchanges in detail. The details are as follows:

1. Uniswap V2

Uniswap
V2 is a DEX platform fully deployed on the Ethereum chain, based on the "constant product automatic market making" model [reserve pool model, on-chain matching, on-chain clearing], and promotes automatic exchange transactions between ETH and ERC20 token digital assets. The transaction design of Uniswap
V2 is different from the traditional limit order model. The Uniswap V2 protocol creates a single liquidity reserve for each ETH and ERC20 token trading pair.

2. MDEX

MDEX supports the decentralized cross-chain transaction protocol of BSC, HECO and ETH, aiming to integrate the advantages of multiple chains and create a high-performance composite DEX ecosystem. It gives participants the maximum feedback with the "double mining incentives" of liquidity mining and transaction mining, and realizes a self-driven value capture ecological closed loop through the fee repurchase and destruction mechanism. MDEX is now available on the ecological chain Heco and the smart chain BSC. Users can use MDEXBridge to achieve cross-chain interoperability between assets in Huobi ecological chain Heco, ETH and Binance smart chain BSC.

3. SushiSwap

SushiSwap is a fork of Uniswap and was launched on August 27. It adopts the core liquidity pool design of UniSwap and is still liquidity mining and automatic market maker (AMM). At the protocol and smart contract level, SushiSwap shares the same interface with Uniswap, and the front-end interface Sushiswap is also the same as Uniswap. But it essentially changes the original protocol, and SushiSwap pushes the theory of Uniswap one step further.

4. Curve

Curve is a decentralized stablecoin trading pool based on Ethereum, which is characterized by an efficient and low-slip stablecoin trading experience, as well as providing low-risk fee income for market makers. In the background, the tokens held in the liquidity pool will also be provided to the Compound protocol or iearn.finance, where more income will be generated for liquidity providers.

5. 1inch

Founded in March 2019, 1inch is a decentralized trading aggregator that can intelligently route almost all DeFi transactions. By integrating with various DEX service providers, 1inch users can get the most affordable transactions, the lowest transaction latency, and can trade with a variety of ERC-20 tokens. It obtains the best rates by splitting orders across multiple DEXs in one transaction. The core protocol connects a large number of decentralized and centralized platforms to minimize price slippage and find the best transactions for users. In addition to swap transactions, the 1inch platform also provides other functions.

The above content is the specific explanation of the editor of the currency circle on the question of which is the leading coin of the decentralized exchange. Using DEX has its advantages and risks. Although you may use DEX because of its advantages, you should also know these risks. Perhaps most importantly, for all intents and purposes, decentralized exchanges operate outside of regulatory agencies. Since DEX does not rely on centralized third-party institutions, the execution and security of transactions mainly rely on smart contracts and blockchain technology, which may lead to the risk of smart contract vulnerabilities, code errors or attacks, which may result in loss or theft of funds, so everyone must understand it clearly before investing.