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What is a DEX?

DEX (decentralized exchange): An exchange that runs on the blockchain, where you trade straight from your wallet without an account.

On Solana the main DEXes are Raydium, Meteora, Orca and PumpSwap; Jupiter finds the best price across all of them. New meme coins trade on DEXes long before any centralized exchange lists them.

Example

Swapping SOL for BONK in Phantom goes through a DEX.

Related terms

CEX (centralized exchange)Launchpadpump.funGraduationSlippageMeme coin

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