Decentralized finance (DeFi) has seen parabolic growth since the start of 2020, with the total value locked in these contracts, largely based on Ethereum, rising from $1 billion to $12 billion now.
Crucial to this growth has been decentralized exchanges (dexs). In 2017 and 2018, many thought that these applications were clunky, as transaction fees were high and the user experience was very slow and confusing.
But with the introduction of Uniswap and other decentralized exchanges, things began to change. At many points this past summer, the volume and liquidity on decentralized exchanges surpassed that of top exchanges such as Coinbase.
This growth may not be done yet, though. Top analysts in the space think that Ethereum dexs will surge even higher in the weeks and years ahead. This …