Decentralized exchanges (DEX) provide a quick, more seamless alternative to their centralized options for traders and investors looking to enter the market. DEXs also have platform tokens, which investors can purchase to support their ecosystems and earn profits. In this article, we’ll look at some top DEX coins for value-seeking investors.
1. Tamadoge (TAMA)
TAMA isn’t a DEX coin. However, the asset is one of the most promising cryptocurrencies in the market right now.
TAMA powers the Tamadoge ecosystem. Tamadoge is a blockchain game that allows players to buy non-fungible tokens (NFTs) that represent digital pets. These pets can be groomed and employed to battle other players’ pets. Winners gain rewards in the form of the platform’s TAMA tokens.
Asides from being a utility token, TAMA is also a viable speculative investment. The digital asset currently trades at $0.04023, an uptrend of 10.56% in the past 24 hours. TAMA has so far been one of the best-performing coins.
The biggest draw for the platform currently is the launch of ultra-rare Tamadoge NFTs that will be part of the gaming ecosystem. These NFTs will give their accompanying pets additional benefits, such as increased speed and additional strength. After this auction, another one for rare NFTs is expected to begin on October 17.
Meanwhile, the Tamadoge gaming platform is set to launch before the end of the year, offering an important use case for TAMA.
2. Impact Protocol (IMPT)
The Impact Protocol has been gaining significant investor attention. And with the platform’s native token, IMPT, investors have an opportunity to invest in the good of the planet.
The Impact Protocol, launched in 2022, uses blockchain technology to allow individuals and companies to buy carbon credits. The protocol makes it easy for anyone to offset their carbon footprint while allowing them to support environmental sustainability projects worldwide. The role of blockchain in fighting climate change has been taking center stage for the past year, so this platform is taking a step in the right direction.
IMPT, the service’s token, is currently available on presale. It has already raised over $3.5 million, showing significant levels of investor demand. Interested investors can now buy IMPT tokens on presale.
📣 #IMPT Crew!! 📣
🔥 Over $3.5 Million USD Raised So Far! 🔥
!! Take Part In The Presale And Join The #IMPT Community Today!!
— IMPT.io (@IMPT_token) October 12, 2022
3. Uniswap (UNI)
UNI is the utility token for Uniswap. The platform is currently one of the largest decentralized exchanges in the market, and it has been one of the most resilient names in the decentralized finance (DeFi) space.
Since its inception, Uniswap has supported over $1.2 trillion in cumulative trading volumes. The platform’s UNI token has also risen to the status of a DeFi blue-chip coin, and it currently trades at $6.32, an uptrend of 8.01% in the past day.
Recently, Uniswap Labs, the company that built the Uniswap exchange, announced that it had raised $165 billion in its Series B funding round. Polychain Capital led the round, with additional participation from investors such as Andreessen Horowitz and Paradigm Capital.
1/ We’re proud to announce that we’ve raised $165 million in Series B funding to bring the powerful simplicity of Uniswap to even more people across the world 🦄🍾https://t.co/ChilydWOEO
— Uniswap Labs 🦄 (@Uniswap) October 13, 2022
As the company explained, the funding will help expand its product offering and bolster its user experience.
4. DeFi Coin (DEFC)
DeFi Coin is the utility token of DeFi Swap, a decentralized exchange launched in 2021. DeFi Swap offers a convenient way to swap between different coins in seconds. It allows investors to trade without opening an account or verifying their identities.
Also, DeFi Swap allows customers to learn more about the market with different guides on how to buy cryptocurrency.
DEFC, the exchange’s native token, currently trades at $0.06931, a 2.03% increase in the past 24 hours.
The asset is especially valuable because it powers the DeFi Swap ecosystem. Holders are also incentivized to hold the coin because transactions involving DEFC are subject to a 10% fee. This way, short-term traders are kept at bay, and holders are incentivized to keep it for much longer.
Half of the transaction fees generated are distributed among DEFC holders, and investors can get more rewards as they hold more token units. The other 50% goes to the DEFC liquidity pool, which helps maintain the overall operation of the DeFi Swap exchange.
5. PancakeSwap (CAKE)
Rounding out the list of the best DEX coins is CAKE. It is the native token for PancakeSwap, a DEX and automated market maker built on the BNB Smart Chain that enables trading BEP-20 tokens without intermediaries.
CAKE is the platform’s native token and can be traded against several other assets. It is also used to reward lenders who offer tokens to the PancakeSwap liquidity pools. The asset currently trades at $4.41, an uptrend of 4.77% in the past day.
Like other top DEXs, PanakeSwap’s developers have been making significant updates to the product. CAKE is one of the primary focal points, with the developers launching a token burning mechanism that has led to the burning of over $34 million worth of tokens.
🔥 7,002,686 $CAKE just burned – that’s $32M!
💰 Trading fees (Swap and Perpetual): 246k CAKE ($1.13M) -32%
🔮 Prediction: 72k CAKE ($331k) -5%
🎟️ Lottery&Pottery: 33k CAKE ($151k) -25%
🔒 NFT Market, Profile & Factory: 10k CAKE ($45k) +349%
🛍 IFO: 40k CAKE ($183k) pic.twitter.com/e5UFhgpnGE
— PancakeSwap 🥞 #BSC (@PancakeSwap) September 26, 2022
Since CAKE is deflationary, the asset’s tokenomics look stronger than ever, which is good for long-term investors.
DEX coins are a viable investment for anyone looking to earn steady returns in the market. And with many of them possessing use cases, this seems to be a good time to purchase these assets.
Investors can also consider IMPT. The asset powers the Impact Protocol, which applies blockchain technology in the fight against climate change.
- Early Stage Presale Live Now
- Doxxed Professional Team
- Use Cases in Industry – Offset Carbon Footprint