There are two types of DEXs: Order book-based DEXs Liquidity pool-based DEXs. Some popular Decentralized Exchanges include Uniswap, Kyber Network, Curve Finance, dYdX, and SushiSwap. Order book-based DEXs like dYdX and Deversifi operate similarly to CEXs where users can set buy and sell orders at either their chosen limit prices or at market

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Normally on a CEX like Coinbase, they own the supply of tokens and they collect all the trading fees. But on a DEX, anyone can add liquidity and earn a share of the trading fees. On Sushi for example, 0.25% of every trade goes to the liquidity providers.