An aggregator: it splits and routes each swap across many exchanges on Ethereum, BNB Chain, Base and other chains, settled from your wallet.
Decentralised exchanges
Smart-contract markets where people trade from a wallet they control; a company or foundation usually runs the website. Every listing says what a company is good for and what to watch out for. Sponsors can buy placement here. They can never buy a rating, and the methodology page says so in writing.
Free to ask, free to be listed. A person reads every request, and we reply either way.
Decentralised exchanges today
- Listed
- 11 every entry written by us
- Custody stated
- 9 who holds the keys, on every card
- Ratings sold
- 0 placement is for sale; a verdict never is
Every decentralised exchanges listing
Paid placement first, then A–Z. Position is the only thing a sponsor can buy, and it is marked on every card.
Pool-based exchange on Base.
An aggregator where you sign an order instead of sending a swap; outside parties compete to fill it, sometimes by matching it with other users' orders.
Pool-based exchange built for swapping between coins meant to hold the same value, such as two dollar stablecoins, on Ethereum and other chains.
Exchange for perpetual futures on its own blockchain, using an order book; trading needs a deposit into that chain. dYdX International Ltd, a Cayman Islands company, runs dydx.xyz.
Exchange for perpetual futures, and some spot trading, on its own blockchain, using an order book rather than pools; trading needs a deposit into that chain. In 2026 the UK's FCA warned it may be offering financial services in the UK without permission.
An aggregator on Solana: it routes each swap through Solana exchanges and pools, in one transaction from your wallet.
An aggregator run by 0x Labs, routing swaps across exchanges on Ethereum, Base, BNB Chain, Solana and others. In 2023 the CFTC fined the company, ZeroEx, $200,000 because Matcha let users trade leveraged tokens, which it neither admitted nor denied.
Pool-based exchange that started on BNB Chain and now also runs on Ethereum, Base and other chains. In 2022 the Ontario Securities Commission put it on its investor warning list as not registered in Ontario to trade securities.
Pool-based exchange on Solana.
Exchange on Ethereum and several other chains where tokens are swapped against pools that anyone can fund; Uniswap Labs runs the main website and app. In 2024 the CFTC fined Uniswap Labs $175,000 for offering leveraged tokens through that website, which it neither admitted nor denied.
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Free to ask and free to be listed. Paying never gets you in: a listing is decided on its merits first, and placement is only talked about after.
- 1You askA two-minute form, read by a person.
- 2We checkAgainst the published standards. If it is a no, we name the rule.
- 3We write itGood for, and what to watch. You see it first and can correct a fact.
Listings are our own opinion, written by us. Some links are commercial and marked as such — see how we make money. Nothing here is financial advice, and a listing is not a recommendation to use a service.