Topic: [HELP] DEXs reviews (Read 222 times)

After Uniswap v3 was launched on the Optimistic Ethereum main network on July 13, 2021, it became comparable to BSC in terms of network fees. I have already tested Optimistic and I can say that now the transaction cost is about 0.0002 ETH, which is about 100 times lower than the existing commission on the ethereum network. Here you can learn how to set up Optimistic for trading on Uniswap v3: https://help.uniswap.org/en/articles/5404230-how-to-connect-to-optimism Optimism Gateway: https://gateway.optimism.io

In my own perception, pancakeswap and Quickswap are the good to use in trading as DEX platform.
Then, the rest I don't trust them just don't feel them only although, I am not saying the rest are bad.
Maybe because I'm not using them yet.

Every dex has this basic function，I want to add some precautions for liquid mining（farm）.

The general DEX uses the AMM automatic market maker mechanism.Usually two tokens can form a liquidity pool.

What Are Automated Market Makers?Hope this article can help you，There are many things to pay attention to, I can briefly talk about a few problems I encountered in the process of LP-farm

1、Impermanent Loss
2、Whale adds liquidity to stable currency pairs，selling while producing tokens, causing the price of tokens to keep falling
3、Scam project withdrawal pool

Quickswap
Charge a 0.30% fees per transaction, has a medium trading volume, medium pairs and medium amount token listed.

Uniswap
Charge a 0.05%, 0.30% or 1.00% fee per trade (most of pairs charge 0.30%), has a huge trading volume, many pairs and a lot amount token listed.

Pancakeswap
Charge a 0.25% fees, has a huge trading volume, many pairs and many amount token listed.

Anyswap
Charge a 0.4% fees, low trading volume, low pairs and has low amount token listed.

Balancer
Charge a random fees depends on the pool from 0.0001% to 10%, low trading volume, medium pairs and medium amount token listed.

Trustswap
Doesn't have swap features.

Loopring
Charge a 0.25% fees, low trading volume, low pairs, and has low amount token listed. Loopring v2 right now still in Beta which involve some risk that can be read here https://loopring.io/#/legal/risks

Based on above review IMO Pancakeswap is the best swap for cheap fees and has better in other aspects too, but it's used BSC blockchain. Since you're looking for other blockchain beside ETH and BSC you could use Justswap for TRON blockchain, Waves exchange for Waves blockchain, Newdex for EOS or can be read here https://dappgrid.com/decentralized-exchanges/

I myself have been staying away from these Defi nonsense but like you, I'm also opening my mind to explore the used of these AMM Dexes not for staking or farming but actually swapping (exchanging).

My personal experience, as everyone out there has already said: they all work the same way, different layouts and different ways but once you've used one, you've used them all.

Some notes:
- some places call staking as saving but they mean the same thing -- lock the token in and earn a share of the revenue, this is regards to token platforms like UNI for Uniswap
- Aggregators are like 1inch, they don't have their own native DEX but instead plug into Uni, Sushi, etc and lets people trade/swap across them. 1inch protocol looks automatically for best price for your swap order BUT can end up being VERY expensive however, because when you place an order, it determines the best price from many LPs and then separately executes, so you end up paying not 1 but many swap gas fees.
- Aggregators like Plasma.Finance do it less complex. They also let you access Uni, Sushi etc, but they execute swap on one platform, which you choose after comparison.

Both aggregators I mention now migrated to Polygon (L2) so I think if you know how to use MATIC bridge you can swap for very cheap.

In short, I think the wisest option is to look not for 1 platform but 1 aggregator to access ALL platforms.

Mostly I trade at Binance Smart Chain so PancakeSwap is my main DEX . Occasionally though, I may switch to bakery and apeswap for higher yield and faster swapping.

AMM always work same with only different Chain, Always same layout and transaction process. Basically it's depends on which chain you want to use, Here some personal experience from some AMM you listed above.

-Pancakeswap-BSC
Running On Binance Smart Chain, Easy-To-Use just like it predecessor (Uniswap) Tons of features and Farm options (Passive Income but with high Risk too, Read here https://academy.binance.com/en/articles/impermanent-loss-explained), They also offering tons of other features like Lottery, NFT (Beta i suppose) and many more. Cheap Fees & Fast Transaction process since it's using BSC, Really good alternative beside using Uniswap. They team was also active developing the platform by integrating other features

-Uniswap-ETH
I suppose the first AMM out there, Easy-To-Use user interface and basically all AMM always same layout with Uniswap so if you can understand how Uniswap works the rest is easy, Since it's running on Ethereum Network you can access it easily through some Web3 Interface like Metamask, Trust wallet, etc. Mid-Fees & Mid-Transaction process too but i suppose it will change after London Fork happens on august 4 2021 https://coinmarketcap.com/alexandria/article/ethereums-london-hard-fork-what-is-it-and-why-is-it-controversial

-1nch-ETH
Good alternative on Ethereum network where you can reduce gas fee and get the best rates where it aggregates token prices across from the Other AMM, The most efficient way to swap right now on Ethereum Network, Their Native Token (CHI) was also reducing the whole transaction Fee, https://blog.1inch.io/everything-you-wanted-to-know-about-chi-gastoken-a1ba0ea55bf3

-Justswap-TRX
Running On Tron (TRX) It's one of the best choice if you want to buy some TRX-Based token through Dex, Fast Transaction process & Low Fee and it's using Energy & Bandiwth to swap https://www.namecoinnews.com/tron-bandwidth-and-energy/), User-Friendly Interface and same layout with the others AMM.

-Quickswap-Polygon/Matic
Ethereum Alternative, Easy-To-Use User interface and cheap Fees too but the only problem so far from my experience it's transfer processing time when you want to bridge it back to Ethereum Network, I just understand the basic processbut it's sending your token to burned address and it take around 1-2 Hours, I only use once when Swapping TAP Token back to Ethereum Network.

Basically AMM use will always same on every chain the only things to do you need to know is Slippage Tolerance, Gas Fee, Liquidity Impact which will making the transaction Fail, I can't explain it here since every Tokens have different option on their Smart Contract but for most major altcoin like Wrapped-BTC, ETH, BNB, USDT Pair it's really easy to use.

OP Did you mean https://www.trustswap.org ? If yes,TrustSwap is not a AMM, its a launchpad platform for new projects just like Binance launchpad they only have trustless P2P swap no escrows needed (https://smartswaps.trustswap.org/) but they have no swap feature like Uniswap with Lp.  

I often trade on uniswap and pancake. As everyone said, the functions are basically the same. Only in terms of token pledge income, transaction speed and handling fees, pancake is more popular, but in terms of security and The stability of the Ethereum chain is more trustworthy. For example, the last major crash after 519. Although the fees on the Ethereum chain are very expensive, it is much better than BSC in terms of stability. BSC has only 21 nodes that are easier to be manipulated, and the decentralization is not thorough enough, so In the long run, I will still choose DEX on the Ethereum chain.

You answered very comprehensively. Let me add two points.
TRX-justswap-TRX

when adding assets in your wallet or buying altcoins On the dex platform, use the contract address instead of searching for the name, because some coins have the same name, but they are not the same coin.

I have only used Uniswap and pancakeSwap. Their operation is very smooth. For decentralized exchanges, their biggest advantage is that the wallet is authorized separately, which can protect the assets in our wallet.

Here is a reminder, look at the platform you want to operate and re-authorize. Sometimes hackers will use the same token name to defraud the wallet authorization function, which will lead to the loss of your property.

Actually all DEXes work in a quite similar way. To provide users with the necessary liquidity for exchanges they offer to stake your assets in different pools, where you usually get interests and also some native tokens. I can say that these exchanges are cheap and fast, so you definitely should try.
When choosing one of them you should pay attention to news about this exchange on the Internet and to the price of native tokens.

Yes, it's true, DEX reviews are currently in a hurry by investors, but they are very confused in choosing the right DEX to invest.
and now those who invest in crypto market assets are ETH,BNB and BTC assets, because those market assets are good DEX in the market.
and similarly with the emerging market assets, they also want to display their market assets in the eyes of the crypto market. and they hope their market assets will perform better in the future.

Personally I have tried quickswap and PancakeSwap from your list and I am totally satisfied with them, especially I like PancakeSwap. It is more user-friendly. These two are the most popular DEXes on Polygon and BSC respectively, so they are reliable. But actually there are many different DEFI-projects that allow you to swap and stake your assets as well. Like Polyyeld on Polygon, for example. They give you bigger interests in pools, but they are not very safe, so before investing you should investigate them.

They are AMM DEX on different chains.

When you are trading, you need to pay a gas fee, and each chain has different payment tokens.


The tokens above are messy and there are many scams. Although some tokens have the same name, their contract addresses are completely different. Be sure to confirm before buying again.

By the way, you are likely to prompt an error when buying tokens. Generally, there are the following problems:

1.Insufficient gas fee
2.Slippage is too low
3.The purchase quantity is too much
4.The number of decimal places is set too much

Wait! Did you just said platforms that supports tokens and not focus on networks other than Ethereum and BSC? 🤔🤔 Hm it sounds like centralised exchanges is what you ready need not Dex, no matter what you trying to bring up Dex will never be like centralised exchanges, Dex do works but to some extent only.

Almost all dex functionality and layout are same. I have used the Uniswap and PancakeSwap and I can say that these to are the best dex on their blockchain in every aspects like trading volume, transaction time, no extra fees (only the network fees) etc. Uniswap for Ethereum blockchain, PancakeSwap for Binance Smartchain. And most importantly Uniswap is running since a long time and there is no news of exploitation. They are improving their dex every time like v1, v2, v3.

Since I got to know about Blockchain and I own Bitcoin and a few other altcoins so I haven't used any DEXs that doesn't support Bitcoin.
Today I decided to move a bit to use the rest of the decentralized platforms such as Uniswap UNI, PancakeSwap CAKE, 1INCH and I would like to honestly evaluate how they work.
What I want are platforms that support tokens and that focus on networks other than Ethereum and BSC. 


Basically good review about:

quickswap
Uniswap
PancakeSwap
Anyswap
Balancer
TrustSwap
Loopring