A DEX listing is when a cryptocurrency token becomes available to start trading on a decentralized exchange. It's the process of making your token accessible to traders on a platform where they can buy, sell, or swap it directly with other users.
A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates without a central authority or intermediary, allowing peer-to-peer transactions directly between users. Unlike centralized exchanges, a DEX operates in a non-custodial manner, meaning users retain control of their private keys and funds throughout the trading process.
Listing on decentralized exchanges is crucial for crypto projects because it increases token accessibility and liquidity, potentially attracting more traders and investors.
What's the best DEX for crypto in 2024?
We’ve created a guide on the best decentralized exchanges. These DEXs revolutionize how investors trade, enabling peer-to-peer transactions directly on the blockchain. These exchanges let you execute trades with greater control, each catering to diverse investor needs.
- Uniswap - Most popular
- PancakeSwap - Best for Binance Smart Chain
- dYdX - Best for leveraged and perpetual contracts
- Curve - Best for stablecoins
- SushiSwap - Best for liquidity providers
- Balancer - Best portfolio manager
- 1inch - Best for low fees
- Osmosis - Best for Cosmos SDK
- IDEX - Best for hybrid trading
- SundaeSwap - Best for Cardano
- SunSwap - Best for Tron Network
- Defillama - The aggregator of aggregators
- StackSwap - Best for Bitcoin-based DeFi and Stacks
1. Uniswap - Most popular
Uniswap is the leading DEX built on the Ethereum blockchain, allowing users to swap ERC-20 tokens without intermediaries. It operates using an Automated Market Maker (AMM) model, replacing traditional order books with liquidity pools. Users can trade, provide liquidity, or create markets for any ERC-20 token.
The platform is governed by its native token $UNI, which gives holders voting rights on protocol changes. As of August 2024, Uniswap boasts a Total Value Locked (TVL) exceeding $5 billion, making it the best decentralized exchange by this metric.
Key Features
- Permissionless token listing and trading
- Users can provide liquidity in exchange for incentives
- Governance through $UNI token
- Cross-chain swaps via UniswapX
- Open-source decentralized protocol
Pros and Cons
Listing Process
To list a token on Uniswap, you don't need to go through a formal application process due to its permissionless nature. Simply create a liquidity pool for your token by connecting your wallet to Uniswap, selecting the "Pool" option, then following the prompts to add your token and the desired amount of liquidity. Once the pool is created and funded, your token will be automatically listed and available for trading on Uniswap.
2. PancakeSwap - Best for Binance Smart Chain
Not the only DEX on our list that will make you hungry, PancakeSwap is a leading DEX on BSC, offering token swaps, yield farming, and various decentralized finance services. It uses an AMM model and is powered by its $CAKE token. As of August 2024, it has a TVL of about $1.73 billion.
Key Features
- AMM for efficient token swaps
- Yield farming and staking
- NFT marketplace
- Lottery and prediction markets
- Initial Farm Offerings (IFOs)
- Cross-chain swaps
Pros and Cons
Listing Process
To list a token on PancakeSwap, ensure your token is Binance Smart Chain compatible with a verified, optimized smart contract. Create a liquidity pool by providing substantial liquidity paired with BNB or another popular token. Connect your wallet to PancakeSwap, navigate to "Add Liquidity," and set up your trading pair. Add token details, set the initial price, and provide comprehensive token information. The technical process can be completed in 10-30 minutes, but success depends on ongoing promotion.
3. dYdX - Best for leveraged and perpetual contracts
dYdX is a decentralized exchange specializing in perpetual contracts, margin trading, and spot trading on Ethereum. It uses Layer 2 scaling for faster, cheaper transactions. The platform is governed by the $DYDX token and has a TVL of about $413 million as of August 2024.
Key Features
- Perpetual contracts with up to 20x leverage
- Margin and spot trading
- Non-custodial trading
- DYDX token for governance and staking
- Layer 2 scaling via StarkWare
Pros and Cons
Listing Process
To list a token on dYdX, you need to initiate a new market listing through the dYdX Chain interface, requiring a stake of DYDX tokens. The process involves selecting market details like reference price and oracles, followed by submitting the proposal for a community vote. Your governance tokens will be locked until the proposal is voted on. If approved, the new token becomes available for trading.
4. Curve - Best for stablecoins
Curve Finance is a decentralized exchange optimized for efficient stablecoin trading and low-slippage swaps between similar assets. Built on Ethereum, it uses an AMM model tailored for stablecoins. The platform is governed by its $CRV token and has a TVL of almost $2 billion as of August 2024.
Key Features
- Optimized AMM for low-slippage stablecoin swaps
- Liquidity pools with CRV rewards
- Governance through CRV token
- Yield farming opportunities
- Layer 2 integration
Pros and Cons
Listing Process
Listing a token on Curve involves a community-driven process that starts with drafting a detailed proposal and posting it on the Curve governance forum. To create an official on-chain proposal, you need at least 2500 veCRV (vote-escrowed CRV) voting power, which can be acquired by locking CRV tokens. If approved, the final step involves working with the Curve team on the technical implementation to add your token to the dex liquidity pools.
5. SushiSwap - Best for liquidity providers
SushiSwap is a multi-chain decentralized exchange that evolved from a Uniswap fork into a comprehensive DeFi ecosystem. It operates on an AMM model across multiple blockchains. Anyone providing liquidity can earn rewards in proportion to their share of the pool. Governed by the $SUSHI token, it has a TVL of approximately $208 million as of August 2024.
Key Features
- Multi-chain support (7 blockchains)
- AMM model for efficient swaps
- Liquidity pools with SUSHI rewards
- Yield farming opportunities
- Governance through SUSHI token
- BentoBox yield-generating vault
- Kashi lending and leverage platform
Pros and Cons
Listing Process
To list a token on SushiSwap, start by creating a proposal on the SushiSwap forum and engaging with the community to gather support. Then, submit a formal on-chain governance proposal for SUSHI token holders to vote on. If approved, work with the SushiSwap team for technical integration.
6. Balancer - Best portfolio manager
Balancer is a unique decentralized exchange that functions as both a trading platform and an automatic portfolio management tool. It uses an extensive Automated Market Maker model allowing users to create and manage Balancer liquidity pools with customizable weights. Governed by the $BAL token, Balancer has a TVL of approximately $758 million as of August 2024, spread across multiple chains including Ethereum, Arbitrum, Polygon, and others.
Key Features
- Balancer's liquidity pools are customizable
- Smart Order Router for optimized trades
- Balancer pools are weighted for flexible asset ratios
- Stable pools for pegged assets
- Boosted pools integrating with other DeFi protocols
- Flash loans for uncollateralized borrowing
- Multi-chain support
Pros and Cons
Listing Process
To list a token on Balancer, start by creating a pool with your desired ERC-20 tokens and parameters, leveraging Balancer's unique weighted pool feature. Then, create a formal on-chain governance proposal for BAL token holders to vote on.
7. 1inch - Best for low fees
Another unicorn logo, but angrier this time, 1inch is a leading decentralized exchange aggregator that sources data from various DEXs to provide users with the best prices. Operating on multiple blockchain networks, including Ethereum and BNB Chain, 1inch uses smart contract technology to optimize trades. The platform is governed by its native $1INCH token and has a TVL of approximately $4.6 million as of August 2024.
Key Features
- Aggregation Protocol for best swap rates
- Limit Order Protocol
- Liquidity Protocol for capital efficiency
- 1inch Fusion for enhanced swap efficiency
- 1inch Wallet for asset management
- Cross-chain support
- Governance through 1INCH token
Pros and Cons
Listing Process
1inch doesn't have a formal listing process as it aggregates from other DEXs. To make a token available on 1inch, list on a supported DEX, provide sufficient liquidity on that DEX, and engage with the DeFi community to drive volume.
8. Osmosis - Best for Cosmos SDK
Osmosis is a leading decentralized exchange and decentralized finance hub built for the Cosmos ecosystem and beyond. Operating as its own layer-1 blockchain with a delegated proof-of-stake consensus mechanism, Osmosis leverages the Inter-Blockchain Communication Protocol (IBC) to connect over 100 blockchains. This makes it a premier cross-chain DEX, facilitating seamless financial transactions across diverse networks.
The native $OSMO token is used for governance and staking, underpinning the platform's operations. With a TVL of approximately $71 million as of August 2024, Osmosis offers users the opportunity to trade, provide dex liquidity, and earn rewards across a vast interconnected network of crypto assets.
Key Features
- Cross-chain trading via IBC protocol
- Customizable liquidity pools
- Superfluid staking for simultaneous staking and liquidity provision
- Self-governing pools
- MEV resistance through private mempools
- User-friendly interface
- OSMO token for governance and staking
Pros and Cons
Listing Process
To list a token on Osmosis, register your asset with the Cosmos Chain Registry, ensuring IBC compatibility and providing necessary chain and asset data. Next, register with the Osmosis Labs' Assetlist Registry, which requires an established IBC connection and existing liquidity on Osmosis. Submit pull requests to both registries with required information including chain name, RPC endpoints, asset details, and IBC path. Finally, create a pool on Osmosis.
9. IDEX - Best for hybrid trading
IDEX is a hybrid decentralized exchange that combines the security of DEXs with the performance of centralized exchanges. Operating on multiple blockchain networks, including Ethereum and Binance Smart Chain, IDEX uses a unique architecture allowing for high-speed trading and advanced order types while maintaining non-custodial control of funds. The native IDEX token is used for governance, staking, and fee discounts. As of August 2024, IDEX has a TVL of approximately $50 million.
Key Features
- Hybrid architecture combining off-chain order matching with on-chain settlement
- Advanced order types (limit orders, stop-loss)
- Multi-chain support
- High-performance, near-instant trade execution
- Non-custodial wallet control
- Staking for rewards and governance
- Gas-free trading
- API access for algorithmic trading
Pros and Cons
Listing Process
To list a token on IDEX, submit your token for review by the IDEX team. If approved, collaborate on technical integration and ensure sufficient liquidity. IDEX's selective process aims to ensure quality and viability of listed tokens, balancing the benefits of decentralized finance with the performance needs of active traders. This allows IDEX to offer some of the best prices and execution speeds in the hybrid DEX space.
10. SundaeSwap - Best for Cardano
SundaeSwap is the leading decentralized exchange built specifically for the Cardano blockchain, facilitating the trading of ADA and other native Cardano tokens. It operates using an AMM model, tailored for Cardano's unique eUTXO model. Governed by the $SUNDAE token, SundaeSwap has a TVL of approximately $14 million as of August 2024.
Key Features
- AMM model optimized for Cardano's eUTXO system
- Yield farming opportunities
- Governance through SUNDAE token
- High security utilizing Cardano's features
- Rewards platform for ADA delegation
- "Scooper" model for improved scalability
Pros and Cons
Listing Process
To list a token on SundaeSwap, ensure it's a native Cardano token. Create a liquidity pool by pairing your token with ADA or another Cardano asset. Engage with the SundaeSwap community and submit a listing proposal. If required, participate in a governance vote using SUNDAE tokens. Work with the SundaeSwap team for any necessary technical integration.
11. SunSwap - Best for Tron Network
SunSwap (or Sun) is the leading decentralized exchange on the TRON blockchain, specializing in TRC-20 token swaps. Using an automated market maker model, it offers trading, liquidity provision, and yield farming. Governed by the $SUN token, SunSwap has a TVL of approximately $560 million as of August 2024.
Key Features
- Efficient token swaps
- Liquidity pools with reward incentives
- Governance through SUN token
- Yield farming opportunities
- Stablecoin swaps
- Multi-token pools
- TronLink wallet integration
Pros and Cons
Listing Process
To list a new TRC-20 token, create a liquidity pool by providing an initial amount of the token and TRX. Engage with the TRON and SunSwap communities to gain traction and increase liquidity. Once the pool is created, other users can add liquidity to it, earning a share of the trading fees.
12. Defillama - The aggregator of aggregators
DeFiLlama Swap, often referred to as LlamaSwap, is not a traditional decentralized exchange but a powerful DEX aggregator of aggregators. It sources liquidity from multiple DEXs and other aggregators like 1inch to provide users with the best possible trading rates across various blockchain networks. The platform does not have a native token and focuses purely on optimizing trades while offering enhanced privacy features.
Key Features
- Aggregation of DEX aggregators for best swap rates
- Gas fee optimization
- Multi-chain support
- User-friendly interface
- Privacy features including IP hiding
Pros and Cons
Listing Process
As DeFiLlama Swap is an aggregator of aggregators, there's no direct listing process. To make your token available on DeFiLlama Swap, ensure it's listed on popular DEXs and aggregators that DeFiLlama sources from, such as Uniswap, SushiSwap, or 1inch.
13. StackSwap - Best for Bitcoin-based DeFi and Stacks
StackSwap is a decentralized exchange built on the Stacks blockchain, which leverages Bitcoin's security. It provides a platform for trading, liquidity provision, and yield farming within the Stacks ecosystem. The platform is governed by its $STSW token, used for governance, staking, and rewards. As of August 2024, StackSwap has a TVL of approximately $406 million.
Key Features
- AMM model for efficient token swaps
- Bitcoin security through Stacks blockchain
- Yield farming opportunities
- Governance through STSW token
- Staking rewards
- User-friendly interface
- AI models for platform performance improvement
Pros and Cons
Listing Process
To list an existing token on StackSwap, ensure your token is compatible with the Stacks blockchain. Connect your Hiro Wallet to the StackSwap platform. Create a new pool pairing your token with STX (Stacks' native cryptocurrency) or another established token on the platform. Once the pool is created, your token will be available for trading on StackSwap.
What is a decentralized exchange?
You've probably heard of Binance, Coinbase, or Kraken, right? These are the big players in the crypto game, but here's the thing - they're centralized exchanges. What does that mean?
When you use a centralized exchange, you're basically handing over control of your funds to them. They are the intermediaries - you're relying on the exchange (central authority) to keep it safe and execute your trades.
Now, decentralized exchanges flip this whole idea on its head. With a DEX, you're making peer-to-peer transactions directly with other investors, no intermediary needed. Smart contracts facilitate these decentralized exchange transactions.
Think of it like this: centralized exchanges are like going to a bank to exchange currency, while a DEX is more like meeting up with someone to swap digital assets directly.
That's why listing on a decentralized exchange is a big deal for many crypto projects. It's saying, "We're here for the people, not the middlemen." DEXs often have some of the lowest fees and allow users to trade with just a decentralized wallet, making them attractive for crypto enthusiasts.
Are DEXs safe for listing new tokens?
Decentralized exchanges offer a unique environment for listing new tokens, with safety considerations that stem from their blockchain architecture. The security of DEXs is primarily rooted in code, which govern all transactions and token interactions. While this provides transparency, as anyone can audit the code, it also introduces potential vulnerabilities if the smart contracts aren't properly designed or audited.
The permissionless nature of many DEXs allows for easier token listings, but this openness can also attract scam projects.
Which is safer a DEX or a CEX?
When comparing the safety of decentralized exchanges (DEXs) and centralized exchanges (CEXs), both have their strengths and weaknesses. DEXs operate on a peer-to-peer basis, thus reducing the risk of exchange shutdowns. However, CEXs often have better customer support and easier fiat on-ramps for users. The cheapest decentralized exchange might save users fee money, but CEXs can be more convenient for high-volume trading.
Ultimately, the safest approach may be to list on both types of exchanges. Always do your research on how decentralized exchanges work.
What are the advantages of listing on a decentralized exchange?
Listing on decentralized exchanges offers significant advantages for your project, as it’s a quick and easy process compared to listing on CEXs. While decentralized exchanges require substantial liquidity to instill user confidence, they remain a popular choice for initial listings due to the low entry barriers.
In contrast, listing on centralized exchanges involves numerous charges and compliance requirements, making it a complex and expensive process. Ultimately, the choice depends on a project's specific needs and goals in the crypto market, affecting how users can trade and execute transactions.
What important factors should I consider when choosing a DEX for listing?
When choosing decentralized exchanges for listing, several key factors come into play.
A decentralized exchange with deep liquidity can attract more traders and investors to your token. Look for DEXs with audited smart contracts and a strong track record in the DeFi space to mitigate risk.
The blockchain network the DEX operates on is also important, as it affects gas fees and transaction speed. Popular options include Ethereum-based DEXs and those on faster, cheaper networks like Binance Smart Chain.
Make sure you research the listing process. Some decentralized exchanges are permissionless, allowing anyone to list, while others have specific requirements.
How do I promote my DEX listing?
There are numerous ways to market your new token listing, involving strategies such as:
- Social media engagement
- Build a strong community
- Crypto airdrops
- Press releases
- Email marketing
- Influencer & KOL partnerships
- Crypto events
- Referral campaigns
The Blockchain-Ads platform is going to be your best friend to help you market your crypto project.
