IoTeX DEXs: The 5 Best Decentralized Exchanges on IoTeX

Josh Miller
Iotex is an awesome blockchain. High speeds, low fees, and a whole load of DEXs to trade on. Here’s a list of the best DEXs on IoTex
iotex dex zoomswap

Iotex is an awesome blockchain. High speeds, low fees, and a whole load of DEXs to trade on. Here’s a list of the best IoTeX DEXs.

IoTeX DEXs

1. Mimo (Most liquid)

The most liquid IoTeX DEX. A PancakeSwap fork. Focussed solely on swaps. No incentivised farms.

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2. ZoomSwap (Best for farming)

PancakeSwap fork. Yield farming IoTeX DEX. Has a bunch of features, including a lottery.

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3. Minmax Finance (Best for stablecoins)

A stablecoin IoTeX DEX. Similar to Curve.fi. Simple. Has farms and governance.

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4. Elk Finance (Best crosschain infra)

A popular cross-chain AMM. Has farms with impermanent loss protection. And a fantastic bridge, ElkNet.

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5. Firebird (Best IoTeX DEX aggregator)

A cross-chain, yield farming, AMM come DEX aggregator. Offers multiple farming products across several chains.

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FAQs

What is IoTeX?

IoTeX is a blockchain for the Internet of Things (IoT). It is a fully decentralized, self-evolving and self-incentivizing IoT network.
The IoTeX blockchain is designed to be privacy-centric and support real-time data exchange, while also facilitating cross-chain communication and value transactions among all IoT devices using a token economy.

IoTeX achieves this by integrating blockchain with the Internet of Things. The company has developed an innovative privacy-centric technology called TangleID to securely identify every device on the network. IoTeX also integrates its own distributed hash table (DHT) to enable direct communication between devices without relying on centralized servers or services.

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The goal of IoTeX is to create an autonomous economy with its own tokenized rewards system that incentivizes developers, users and businesses to participate in the IoT ecosystem by leveraging their resources for mutual benefit.

What is a DEX?

DEX stands for decentralized exchange. A DEX is an online platform for the peer-to-peer trading of cryptocurrencies, as opposed to a centralized exchange which requires users to deposit their funds with the exchange operator.

DEXs are more complicated than centralized exchanges, but they offer greater security and control over your funds.

The main difference between a DEX and a centralized exchange is that in a centralized exchange you have to trust the company running it. It’s up to them to keep your coins safe from hackers or theft, and they can make mistakes or even disappear completely with your money if things go wrong.

In a DEX there is no central authority keeping track of who owns what — instead it’s all about finding software that matches buyers and sellers in real-time.

This means there’s no one person who controls everything. If someone wants to buy something from you, they send you their coins first, then you send back the item once they’ve paid you (or vice versa). The whole thing happens automatically via smart contracts on the blockchain — so nobody has access to anyone else’s money except their own private keys which control their wallet addresses on the blockchain itself.

Why should you use IoTex?

The IoTeX network has many benefits over existing blockchain technologies, including:

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Scalability – The IoTeX network can support more than 10,000 transactions per second (TPS). This allows it to handle more than 50x more transactions than Ethereum and 100x more transactions than Bitcoin.

Privacy – The IoX platform was built from scratch with privacy by design, meaning all data on the IoX network is encrypted at rest and in motion. This means that no one can view it unless they have access to your private key or you choose to share it with them.

Isolation – Isolation allows users to run multiple chains on their own isolated island while still being able to interact with other islands through channels. This is an important feature because it allows developers to build complex applications without worrying about whether they will

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