An exchange is a service that enables participants to buy, sell, and trade one asset for another.

In the context of DeFi, a crypto exchange is a decentralized platform that allows users to trade cryptocurrencies and other digital assets in a transparent and secure way, without the need for a centralized intermediary. Decentralized exchanges (DEXes) are a key component of the DeFi ecosystem, as they provide users with a way to access and trade a wide range of digital assets in a decentralized manner.

Overall, a crypto exchange is a platform that enables users to easily buy, sell, and trade cryptocurrencies and other digital assets, providing liquidity and accessibility to the DeFi ecosystem.

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