Defi DEXs Compared: Uniswap vs. Curve vs. Balancer 👨‍🏫

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TIMESTAMPS -
0:00 Intro
1:33 What is a DEX?
5:08 Uniswap
10:02 Curve Finance
15:02 Balancer
19:33 Conclusion

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⛓️ 🔗 Useful Links 🔗 ⛓️

► Uniswap: https://app.uniswap.org/
► Curve Finance: https://www.curve.fi/
► Balancer Exchange: https://balancer.exchange/
► Uniswap Docs: https://uniswap.org/docs/v2/
► Curve Docs: https://www.curve.fi/devdocs
► Balancer Docs: https://balancer.finance/whitepaper/
► Decentralised: https://www.getsmarter.com/blog/marke...
► Impermanent Loss:   / survey-of-automated-market-making-algorithms  

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🤔 What is a Dex? 🤔

A Dex is a platform where you can exchange two different cryptocurrency without the need for a centralised entity. They are non custodial and trustless.

These Dexs are also built as decentralised applications or dApps. This means that in order to interact with them you will have to use a web 3.0 wallet on your browser. These include the likes of Metamask, Trust wallet, Coinbase wallet etc.

You always remain in control of your keys. You and you alone can determine exactly what you want to do with your crypto.

Another benefit of these decentralised exchanges is that they are anonymous. You don't have to submit any KYC..

One more benefit of these decentralised exchanges is the opportunity to earn income yourself. You can do this by providing liquidity to their trading pools.

1️⃣ Uniswap 1️⃣

It it a decentralised exchange that has done away with the concept of order books entirely. It is what is termed an Automated Market Maker. When you want to trade on Uniswap, you will enter the amount that you would like to trade and Uniswap will provide a rate.

This exchange is facilitated through the use of global liquidity pools for ERC20 assets.

At Uniswap, you can also provide liquidity to the pools that other traders can use in order to faciliate the transactions. As a liquidity provider at Uniswap, you will get a share of those liqudity provider fees that they charge all of their traders.

If you are supplying liquidity to a pool on uniswap then you run the risk of "impermanent" loss. This is basically a term that is used to describe the opportunity cost you could incur due to a relative change in the composition of your pooled funds.

2️⃣ Curve Finance 2️⃣

Curve Finance is a Decentralised Exchange that makes use of liquidity pools. However, it facilitates high liquidity with minimal slippage for stablecoins. This is possible through the use of what are termed 'Bonding curves'.

There is Dex function on the homepage where you can quickly exchange your stablecoins and wrapped Bitcoin assets.

Much like at Uniswap, when you supply liquidity to a pool, you are providing users with an opportunity to swap their tokens one for another. However, an interesting thing to note about doing so on Curve is that you don't have too much risk from impermenant loss

If you head on over to the Curve Finance homepage then you will see all of the liquidity pools at the moment to which you can join.

Curve has also just released their own Governance token (CRV). These CRV rewards are distributed to all of those that are supplying liquidity.

3️⃣ Balancer 3️⃣

Balancer is a dex and crypto asset management platform. It acts as an automated portfolio manager, liquidity provider, and price sensor.

One of the main benefits of Balancer is the way that they approach that problem of impermenant loss.

Users can deposit any asset that they desire and still earn liquidity trading fees on it. They can also adjust their allocations to suit their own individual needs.

Balancer has their own BAL governance tokens that they have also been distributing as a reward for providing liquidity.

Balancer also has an advanced decentralised exchange which allows you to swap these assets with minimal slippage. They use smart order routing in order to find the best pairs to execute your order through.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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