Decentralized Finance (DeFi) created an explosion of activity within the chain. DEX volumes can compete with the volume of centralized exchanges. At this time of writing there are nearly **$239 billion so far in 2022** in value locked up in DeFi protocols. Liquidity pools are used to facilitate decentralized trading, lending and many other functions. The order book is the core of any centralized exchange (CEX) This model is excellent for facilitating an efficient exchange and has enabled the creation of complex financial markets.
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