Uniswap is an Ethereum-based decentralized exchange (DEX) that facilitates the swapping of ERC-20 tokens between traders. It does not use an order book to determine prices. Instead, the protocol works by following an equation, where the total liquidity remains constant within the pool. Liquidity pools are liquidity reserves locked in a smart contract, typically funded by liquidity providers. In exchange, you’ll earn a reward in the form of liquidity tokens according to your contribution to the pool’s liquidity.
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Bybit
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Bybit, a crypto exchange, offers an ultra-fast matching engine across Spot, F&O, launchpads, earn products, NFTs & more.