DEX: What’s the Right Direction? Uniswap vs PancakeSwapAndrew LIU April, 2025Positioning of DEX: Two Functions and One Core ObjectiveIn the minds of many, decentralized exchanges (DEXs) are a cornerstone of the blockchain utopia. However, few have clearly articulated what the positioning of a DEX truly is or why its existence is necessary. Let’s imagine a scenario without DEXs: when Xiao Ming wants to trade digital assets, finding a suitable counterparty is challenging. Even if a counterparty...

DEX: What’s the Right Direction? Uniswap vs PancakeSwapAndrew LIU April, 2025Positioning of DEX: Two Functions and One Core ObjectiveIn the minds of many, decentralized exchanges (DEXs) are a cornerstone of the blockchain utopia. However, few have clearly articulated what the positioning of a DEX truly is or why its existence is necessary. Let’s imagine a scenario without DEXs: when Xiao Ming wants to trade digital assets, finding a suitable counterparty is challenging. Even if a counterparty...