Decentralised exchanges are the easiest ways to invest in crypto assets, and some of these exchanges have the best DEX coins to buy for high profits in 2022.
This review discusses some of the top DEX coins to buy for maximum gain.
۱. Uniswap (UNI)
Uniswap is an automated Ethereum-based crypto exchange. The Uniswap platform is an open-source protocol and allows anyone to copy their code to create their decentralised exchange.
UNI makes the top of the list as one of the best DEX coins to buy for high profits in 2022 as the platform has launched its v3 upgrade.
The upgrade introduces concentrated liquidity, which gives individual liquidity providers granular control over the price ranges of their capital.
The upgrade also provides multiple fee tiers, ensuring that liquidity providers are properly compensated for taking varying degrees of risk to stabilise the platform.
These new features make Uniswap the most flexible and efficient Automated Market Maker (AMM) designed. The upgrade will enable LPs to provide liquidity of up to 4000x capital efficiency, earning them higher investment returns. The capital efficiency also reduces slippage trade execution charges.
۲. PancakeSwap (CAKE)
PancakeSwap is a popular DEX built on the Binance Smart Chain (BSC), and its utility token, CAKE, is regarded as one of the best DEX coins to buy for high profit.
PancakeSwap is designed to allow users to trade securely with the Binance Coin (BNB) along with a variety of other BEP-20 tokens without the help of centralised exchanges. Trades on PancakeSwap are executed using smart contracts, eliminating counterparty risks.
PnacakeSwap is expanding its trenches to accommodate more crypto projects, thereby increasing liquidity on the platform.
The platform has launched its farm auctions, where project teams compete for a chance to be listed on PancakeSwap. These project teams need to bid with their CAKE tokens to enter the contest.
This process bootstraps and brings immediate liquidity to the CAKE token, allowing liquidity providers to farm CAKE at a high Annual Percentage Yields (APY). Investors who want to bid for a farm in the auction are expected to apply to have their project and contribution addresses screened.
After the screening process has been completed and the project whitelisted, they can head to the auction page and bid for the farm with the CAKE token.
۳. THORChain (RUNE)
THORChain is a standalone blockchain built on the Cosmos SDK, which serves as a cross-chain DEX. The protocol uses an AMM mode, similar to the initial versions of Bancor (BNT), with the RUNE token as the basic utility token.
Thorchain’s RUNE is regarded as one of the best DEX coins available in the market and has great potential to provide high profit to investors for various reasons.
The Thorchain protocol is set to integrate with Haven Protocol to improve liquidity for XHV and xUSD. Liquidity will be made available by creating liquidity pools and providing xUSD holders with yields.
These yields will be an effort to incentivise xUSD holders to add liquidity. The integration will also allow direct access to other cryptocurrencies that THORChain supports without using a centralised exchange.
Thorchain will also provide users access to a wide range of private assets through the Haven network. The integration opens Thorchain to a vast range of use cases and opportunities as it is a top priority project of the Haven protocol.
Developers working on the integration are updating the process to ensure that it launches using the latest version of the Thornode.
۴. Loopring (LRC)
Loopring is an open protocol that facilitates the building of DEXes. The protocol operates using a set of smart contracts responsible for trade and payments.
Loopring is free and serves as a building block for decentralised apps (dApps) with exchange functions. The platform promotes trustless and anonymous trading.
Loopring is a particularly interesting asset as the blockchain has set in motion bridging functionality from Layerswap. The integration allows users to pay ten times less when moving crypto from other exchanges such as Coinbase, Binance, etc., to Loopring and other Layer two platforms.
Loopring is also moving into the metaverse by launching a new dynamic NFT, Loopheads. The NFT is particularly unique as it is merged with the LRC token, bringing it to life and creating different layers to the NFT that will change over time.
The NFT has up to 25 different variations concerning backgrounds and brain size. Ten thousand loopheads are currently available, and each investor gets ten different 1,000 special edition packs on purchase.
With the blockchain’s involvement in the metaverse and other fundamental factors, the LRC token is expected to appreciate in the coming weeks.
۵. Curve Finance (CRV)
Curve Finance is an automated market maker (AMM) that offers users an efficient way of exchanging tokens while maintaining low fees and Slippage.
The platform is particularly unique because it accommodates only liquidity pools of crypto assets that behave similarly to stablecoins or wrapped assets.
This operation system allows the decentralised exchange (DEX) to use more efficient algorithms to give low fees and impermanent loss of a DEX on Ethereum.
CRVmakes a list as one of the best DEX coins to buy for high profits due to its fundamental outlook.
The platform has activated its vote lock feature, which optimises and mitigates the risk associated with liquidity and Slippage. Liquidity and Slippage are two important aspects of an asset. The reasons are that if the liquidity of an asset is low when an investor tries to buy it, they may encounter a slippage fee.
A slippage fee is a difference between the price at which an investor buys or sells an asset and the price they eventually get. The interaction between liquidity and Slippage can be hectic for investors trying to move large amounts of crypto.
The vote-lock feature also grants users access to benefits when they buy and hold the CRV token. When the token is locked up, investors get the veCRV voting token in return. The more CRV locked up and the longer it is locked up for, the more voting power (veCRV) investors get.