CoinMarketCap's decentralized exchange (DEX) screener tool covers over 50 chains and more than 100 DEXs — explore DeFi with CMC's DexScan now.
If you’re a decentralized exchange user or are beginning to fold DEXs into your trading arsenal, the new tool should prove useful.
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What Is a DEX?
There are three main types:
- Automated market makers (AMMs) — These use decentralized liquidity pools and simple mathematical formulas to price assets and include popular platforms like Uniswap, PancakeSwap, and Curve.
- Order book DEXs — Similar to centralized exchanges, these provide users with a bid/ask order book, albeit the order book and liquidity are decentralized. Some popular examples include Serum and dYdX.
- Aggregators — Though not strictly decentralized exchange protocols, these protocols aggregate liquidity and features from a variety of DEXs to improve efficiency and streamline the user experience. Some of the best-known DEX aggregators include 1inch and Orion Protocol.
Decentralized exchanges are widely seen as the successor to centralized trading platforms since they are arguably more secure, accessible, and private. However, they are generally more complex and expensive to use — since all trades and interactions are kept on chain.
In the last five years, the DEX landscape has grown almost exponentially.
Some of the most popular DEXs currently supported by the new tool include:
PancakeSwap, UniSwap, Curve Finance, Balancer, SushiSwap, QuickSwap, Biswap, Trader Joe, Pangolin, SpookySwap, WagyuSwap and more.
CoinMarketCap DexScan Features
Filtering by Network or DEX
The number of DeFi-capable blockchains is growing rapidly, with many blockchains now already hosting one-or-more decentralized exchanges.
Manually keeping tabs on all these platforms is a daunting task, but CoinMarketCap’s DexScan tool can help to simplify the process by providing an overview of the most popular DEXs for the most popular chains.
Using the web app, you can select your blockchain of choice using the left-hand selection menu. This will narrow the results to only include DEXs operating on that specific chain.
Going one step further, you can isolate your results to a specific DEX on a specific chain using the exchange selector option. This allows you to, for instance, explore only the Uniswap trading pairs available on Ethereum or Optimism — helping you optimize your gas efficiency or compare prices for the same pair on different chains.
This is particularly useful when exploring multi-chain DEXs like SushiSwap and Uniswap, since this can reveal potentially profitable arbitrage opportunities.
Explore Individual Pairs
From permissionless trading to liquidity provider and yield farming opportunities, many decentralized exchanges provide users with a great deal of utility.
DEX Pair Trade History
The CoinMarketCap DexScan tool allows you to explore how each of these DEXs is operating by providing a breakdown of every currently active liquidity pool supported by the DEX as well as a list of recent trades conducted through each pool.
For data enthusiasts, details about the activity of each pool are provided, including a count of the number of transactions processed in the last 24 hours, in addition to its liquidity and current FDV. This will help to provide an indication of the pool’s overall health.
Traders that want to compare and analyze a specific token, say WETH, across various chains and DEXs to determine the best volume and liquidity for buying or selling can simply refer to the DEX Pairs section.
Go+ Security Scan
Beyond this, we've integrated Go+'s security scans for each pool, helping you quickly assess the risk of trading the tokens included in the pool. These scans include an overview of the token contract’s security (such as self-destruct and mint functions) and honeypot risk details (e.g. blacklist and whitelist functions).
It also provides an overview of the number of token holders for the main asset traded in the pool, helping you better understand if you’re trading a popular or relatively obscure (and possibly fake) token.
Customizable Price Alerts Through Telegram Bots
By receiving timely price alerts, users can make better-informed decisions when buying or selling assets. This level of real-time information access allows them to keep up with the ever-changing market. Furthermore, hourly updates curated by the bot ensure that users remain at the forefront of market happenings, allowing them to spot vital trading opportunities and shifts in price trends with ease.
Trade Alerts on CMC Web and App
Users can also set trade alerts directly on the CoinMarketCap DexScan platform. When these preset conditions are met, the system is designed to immediately notify users through web push notifications as well as through dedicated app alerts on their chosen mobile devices.
This feature allows users to proactively monitor the market and take timely action on their investments or trades without having to watch the market incessantly.
Token Holder Information
By clicking the eye button on the right of the "holders" section, users are presented with a percentage breakdown that showcases the distribution of token ownership.
This feature offers valuable insights into the concentration of tokens among various holders, assisting users in conducting due dilligence when making investing or trading decisions. Furthermore, links to each address on Etherscan are provided, ensuring ease of navigation and in-depth research for those interested in analyzing individual addresses.
The Spotlight Feature
With well over 5,000 different cryptocurrencies and 50,000 liquidity pools now in operation, it can be difficult to keep track of which assets are trending, and which are gaining/falling in prominence.
Did you know: CoinMarketCap also provides an overview of the most popular centralized exchanges? Check it out — here.
The new spotlight feature helps to cut through the noise to help you quickly identify up-and-coming cryptocurrencies and hot liquidity pools. By providing a list of the top 100 most trending pairs, the DEX scanner can help you spot potential opportunities and/or risks.
That said, it’s important to bear in mind that trending doesn’t always equal attractive. By tracking the pairs based on a number of criterias, including but not limited to: pageviews, volume, liquidity, the tool identifies asset pairs that are generating the most hype and interest from users.
Top Gainers and Losers
By default, the top winners and losers list aggregates results from all chains and DEXs, but you can refine the results to a specific chain using the chain selector in the top left corner. 24-hour trading volumes also factor in the results — filtering out low liquidity pairs.
Up to 100 results will be displayed based on this filter.
Explore the DeFi ecosystem with CoinMarketCap DexScan now.