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What Are DEX Crypto Tokens and Best DEX Tokens?

2022-11-02 11:12:35

What Are DEX Crypto Tokens?

DEX crypto tokens are cryptocurrency tokens native to decentralized exchanges, DEX tokens can also be rewards to Liquidity providers. DEX crypto tokens offer holders benefits such as governance rights, liquidity, and staking rewards in the decentralized exchange. These tokens are traded in decentralized exchange and centralized exchange.

What Is a DEX?

DEX is the acronym for decentralized exchanges, in a nutshell, decentralized exchanges are cryptocurrency exchanges that don’t have a central authority or a third party governing and filling the trades. In DEX, cryptocurrency trading initiated by a user is done automatedly via what we call a smart contract (self-executing algorithm). Centralized exchanges (CEX) differ from decentralized exchanges; your cryptocurrency must be in a centralized exchange wallet to trade on a centralized exchange. Centralized exchanges control and regulate your cryptocurrency assets. However, with a DEX, you have complete control over your cryptocurrency and can trade directly from your decentralized wallet.

Top 10 DEX Crypto Tokens by Market Capitalization

Total DEX Crypto MarketCap (October 2022): $13.19 B

Total DEX Crypto MarketCap (October 2022)

Best DEX Coins to Buy in 2022

In this article, we will look at several DEX tokens with potential this year (2022), and an uptrend is expected if the cryptocurrency market goes on a bull run. All the decentralized exchange tokens analyzed below are traded on the CoinEx cryptocurrency exchange. Please keep in mind that the top DEX tokens analyzed below are not ranked in any particular order.

1. CAKE

CAKE is a cryptocurrency token built on the BNB Smart Chain that is native to the PancakeSwap DEX. CAKE's primary function is to help provide liquidity to the PancakeSwap DEX. Users can earn rewards by staking their cryptocurrency by depositing and locking up to provide liquidity to the DEX. This is known as farming, and the system rewards it with CAKE tokens. The tokens can be un-staked with no waiting period. 

PancakeSwap recently published a governance proposal outlining a roadmap for CAKE, its native token. The proposal, which was approved with a 98.8% majority across 11 million votes, proposes capping the supply of the CAKE token at 750 million. CAKE currently has 295 million in circulation. The maximum supply is expected to be available within three to four years. Reduction of supply will plummet the price following the law of demand and supply. 

2. UNI

Uniswap is a decentralized exchange built on the Ethereum Blockchain. UNI is the native cryptocurrency of Uniswap DEX. UNI is used to provide liquidity to Uniswap and is also used as a governance token for voting and making decisions for the DEX. Uniswap creates an incentive for its users to provide the decentralized exchange liquidity and users earn newly minted UNI tokens as a reward to those who participate. Users can also obtain additional tokens and receive rewards for contributing liquidity to Uniswap's liquidity pools. The practice of staking your cryptocurrency tokens in order to earn rewards from liquidity pools is known as yield farming or liquidity mining. Uniswap uses a variety of crypto assets, including its native UNI token, to provide services to the DEX.

3. XLM

Stellar is a layer-1 open-source, decentralized, peer-to-peer blockchain network that provides a framework for developers to create applications, issue assets, and connect to existing financial rails. Stellar is designed to enable creators, innovators, and developers to build projects on the network that can interoperate with each other. StellerX is a decentralized exchange built on steller lumens that use Automated Market Makers (AMM) for trades. The Stellar network's native currency is XLM (lumen), XLM is also the native token for Steller DEX. The lumens is the only token that does not require an issuer, and it pays all transaction fees as well as covers network minimum balances. The XLM token serves a unique purpose in the network. Stellar requires that each account maintain a small number of lumens at all times by design.

4. RUNE

Thorchain is a cross-chain liquidity protocol that enables users to exchange assets between blockchain networks in an autonomous and non-custodial way. Thorchain's core mission is to decentralize cryptocurrency liquidity and ecosystem products. Thorchain has its blockchain that functions as a Layer 1 cross-chain decentralized exchange. Users in Thorchain can simply swap one asset for another in a trustless and decentralized way, eliminating the need to rely on order books for liquidity as centralized exchanges. RUNE is the native cryptocurrency token of Thorchain. RUNE tokens are used by Thorchain users to participate in the network and to pay for the swap and transaction fees for RUNE pairs. RUNE has a wide range of utilities which includes, Network Governance, Network Security, Thorchain Incentives, and Settlement assets. You can read more on Thorchain and the RUNE token on the CoinEx blog.

5. GNO

Gnosis is a decentralized prediction market built on the Ethereum blockchain. Gnosis offers the services of allowing users to set up markets in which they can speculate on any occasion or arbitrary outcome. Gnosis provides a unique set of products and tools for traditional blockchain developers and enthusiasts. Gnosis also offers a protocol, which is a fully permissionless decentralized exchange. Gnosis Protocol enables ring trades to maximize liquidity. Ring trades are order settlements that share liquidity across all orders, rather than a single token pair, and are uniquely suited for trading prediction market tokens and the long tail of all tokenized assets. GNO is Gnosis' native cryptocurrency. The GNO token is used to govern the Gnosis network, and network participants use it to perform network activities such as decision-making. GNO is also the native cryptocurrency of Gnosis DEX. 

Dex crypto coin price prediction 2022,2023, and long-term

1. CAKE

CAKE Prediction 2022 

CAKE Prediction 2022

Cake Prediction 2023 and long-term

CAKE, the Pancakeswap token, is expected to be worth $4.533 on average by the beginning of 2023. In the years following - 2024, 2025, and 2026 - the CAKE price is expected to be $5.883, $7.825, and $9.452 in January, respectively.

2. UNI

UNI Prediction 2022 

UNI Prediction 2022

UNI Prediction 2023 and long-term

The Uniswap token UNI is expected to be worth $6.559 on average by the beginning of 2023. In the years following - 2024, 2025, and 2026 - the UNI price is expected to be $8.596, $11.492, and $13.905 in January, respectively.

3. XLM

XLM Prediction 2022 

XLM Prediction 2022

XLM Prediction 2023 and long-term

By the beginning of 2023, the Stellar token XLM is expected to be worth an average of $0.1570. In the years following - 2024, 2025, and 2026 - the XLM price is expected to be $0.1576, $0.1564, and $0.1526 in January, respectively.

4. RUNE

RUNE Prediction 2022 

RUNE Prediction 2022

RUNE Prediction 2023 and long-term

The THORChain token RUNE is expected to be worth $1.812 on average by the beginning of 2023. In the years following - 2024, 2025, and 2026 - the RUNE price is expected to be $1.403, $2.452, and $3.030 in January, respectively.

5. GNO

GNO Prediction 2022 

GNO Prediction 2022

GNO Prediction 2023 and long-term

Gnosis token GNO is expected to be worth $118.886 on average by the beginning of 2023. In the years following - 2024, 2025, and 2026 - the GNO price is expected to be $102.307, $165.713, and $211.964, respectively, in January.

Predictions Source: Cryptocurrency Prediction.

Summary

DEX cryptocurrency tokens are tokens native to decentralized exchanges. These tokens have varieties of utilities which include liquidity provision, rewards for liquidity providers, used as a currency to govern the decentralized exchange, etc. It is important to research DEX cryptocurrency tokens as you might never know you are sitting on a cryptocurrency that will boost your portfolio. Due to the volatility of cryptocurrency, before you decide to trade or buy a cryptocurrency, think about your investment goals, level of experience, and risk tolerance. You shouldn't invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment. The cryptocurrency predictions made in this article are from a third party, the predictions are just from basic analysis and past data. This article is not investment advice.

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