A Decentralized Exchange (DEX) is a dApp that enables trading and exchanging digital assets directly without relinquishing custody of the assets.

In the context of decentralized finance, or DeFi, a DEX allows users to buy and sell cryptocurrencies and other digital assets in a decentralized and trustless manner.

One of the key advantages of DEXs in DeFi is that they are decentralized, meaning that they are not controlled by a single entity, but rather operate on a network of computers that are distributed across the internet. This allows for greater security, transparency, and trustlessness, as there is no central point of failure and all transactions are recorded on the blockchain.

Additionally, DEXs often offer a high degree of customization and flexibility, allowing users to create and trade their own custom assets and financial products.

Overall, DEXs are an important part of the DeFi ecosystem, providing a decentralized and trustless way for users to buy and sell cryptocurrencies and other digital assets.

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