Niche markets most likely driver of DEX adop…

One of the clearest uses for blockchains is permissionless, non-custodial exchange of assets. The most common way to achieve this use is through “decentralized exchange” or “DEX.” While there are many working implementations of DEX, usage remains insignificant compared to the many centralized exchanges (Binance alone does roughly 1000x the volume of four leading DEXs–Uniswap, Kyber, 0x, DutchX–combined). What gives? If DEX is the future, why don’t the numbers look better?

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