CMCGlossary: Dex Aggregator ✨ DEX aggregators are a relatively new type of blockchain-based service that allow cryptocurrency traders to benefit from a large variety of financial tools in a single interface. Details:
). With the rise in popularity of cryptocurrencies and the growing utilization of decentralized exchanges, DEX aggregators have become a sought-after service.
Decentralized exchanges offer varying pricing, and it is not always easy to find the best deal for the trading pair you are looking into. Not only that, crypto investors are starting to turn more and more to DEXs, as they offer increased security and a better fit with the innate characteristics of a cryptocurrency. However, with the rising interest in crypto, more and more DEXs flood the market, and investors often struggle to find the best possible liquidity and pricing.
The easiest way to visualize what a DEX aggregator does is to compare it to a search engine. Imagine services like Google Flights, where you get aggregated information from numerous airlines, and you can pick and choose which deal serves you the best. DEX aggregators function in a very similar way. They accumulate data from a wide array of decentralized exchanges and facilitate split trades in order to offer the best possible prices.
Interestingly, the first DEX aggregator was created as a part of a hackathon competition in 2019. Participants in the competition felt that they needed the aggregated information from numerous DEXs, but this was not available as a service yet. So
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