The battle of the dexes has finally begun! 2023 might mark the emergence of dexes as the de facto leaders of the crypto industry. So far, centralized cryptos have dominated this space, and dexes have had to play second fiddle to them. Even in an industry that touts decentralization as its core value, users have been shy to embrace decentralized exchanges. However, things are changing with the seemingly never-ending spate of crypto exchange collapses that has plagued the industry. The FTX collapse could prove to be just the impetus that crypto users needed to migrate to dexes. In fact, a massive migration has already begun. Now, the question on everyone’s mind is: which is the best dex?
THORChain (RUNE)
THORChain (RUNE) offers an interesting take on crypto trading. THORChain is a cross-chain trading platform that allows users to swap assets across different blockchains. THORChain users can trade assets in a permissionless setting without losing custody of their assets. Also, because the platform supports transactions across blockchains, THORChain is widely used by crypto users whose portfolio includes investments in multiple cryptos.
THORChain offers automated market maker services for traders. THORChain makes liquidity available to users round the clock with staking features, so there’s no waiting period for sellers to find buyers. All transactions on THORChain are executed almost immediately.
GMX (GMX)
GMX (GMX) is one of the newest dexes launched in the crypto world. GMX is so new that it was launched only a few months ago in late 2022. Yet, within its short existence, GMX has racked up a huge fan following and is already enjoying a market cap that’s in the same league as THORChain, which is several years old. GMX’s meteoric rise has been on account of its unique approach to trading. GMX allows users to invest in indices of specific crypto tokens and earn from their growth. Additionally, users can also stake their GMX funds and earn from it.
By making clever use of Chainlink Oracle and liquidity pooling, GMX has eliminated slippage. An interesting aspect of GMX is that it offers leverage of up to 30x, which is unprecedented among AMMs. For these reasons, GMX is rapidly growing into a popular dex and appears to be on the path to overtaking THORChain too.
TMS Network (TMSN)
Coming close on the heels of GMX’s launch, TMS Network (TMSN)has a challenge cut out for it in the dex space. However, TMS Network’s founders feel confident that the platform will emulate the massive success of GMX and perhaps, even outperform it by the end of 2023. As a dex, TMS Network (TMSN)offers similar features as GMX and THORChain, albeit with some important differences. One area where TMS Network (TMSN) trumps other dexes is that it supports not only crypto trading but also stocks and forex trading. This feature will open up a whole new era of decentralized trading that isn’t controlled by one entity or government.
The world witnessed in shock and awe when the WallStreetBets redditors were squeezing hedge funds by artificially propping up GameStop stock prices, only for the Robinhood trading app to freeze trading of the company’s stocks. In the decentralized world of TMS Network (TMSN), such an event would not happen because the governance would be decentralized too. Buy TMS now at $0.0047 per token!
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
Twitter: https://twitter.com/tmsnetworkio
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