The Evolution of Decentralised Exchanges: Innovations, Achievements, and Challenge
Decentralized exchanges (DEXs) are blockchain-based platforms enabling crypto asset trading without intermediaries. Unlike centralized exchanges, DEXs have introduced innovative trading mechanisms that have evolved over time. Early models featured liquidity provision pooled and distributed across all price ranges (e.g., Uniswap v2), while newer designs focus on concentrated liquidity within specific price bands (e.g., Uniswap v3). Trading mechanisms have also advanced, moving from discrete first-price auctions on the Ethereum mainchain to hybrid models incorporating first-come-first-serve principles and auction-based priorities on Layer-2 networks. This talk will delve into the evolution of DEXs, highlighting their innovative approaches, achievements, and the challenges they face as they continue to reshape financial markets.
This workshop was designed by Prof. Yu Shihao, Assistant Professor, Lee Kong Chian School of Business. If you have any questions, please contact Prof. Yu at shihaoyu@smu.edu.sg.