DEX 成為成熟交易者的強大槓桿交易解決方案

由於歷史上發生過多次交易所崩盤和數十億美元的資金損失，加密貨幣產業長期以來一直在尋求去中心化的解決方案。雖然 Uniswap、Sushiswap 和 1inch 等領先的去中心化交易所取得了顯著進步，但它們仍然面臨速度慢、費用高和現貨交易受限等限制。然而，新一代去中心化交易所正在興起，它將複雜的交易功能、高槓桿、低費用和訂單管理工具與個人錢包交易的安全性結合在一起。本文研究了槓桿交易的頂級去中心化交易所，重點介紹了它們的流動性、交易能力、費用和其他關鍵方面。

Decentralized Exchanges Emerge as a Viable Solution for Sophisticated Trading

去中心化交易所成為複雜交易的可行解決方案

The cryptocurrency industry, plagued by several historic exchange collapses and billions lost in funds, has been yearning for a decentralized solution. While the advent of decentralized exchanges (DEXs) such as Uniswap, Sushiswap, and 1inch marked a significant leap from the first-generation EtherDelta, these platforms come with limitations that make them less appealing for professional trading: slow speed, exorbitant fees, and restricted trading options.

受到數次歷史性交易所倒閉和數十億資金損失困擾的加密貨幣產業一直渴望一種去中心化的解決方案。雖然Uniswap、Sushiswap 和1inch 等去中心化交易所(DEX) 的出現標誌著與第一代EtherDelta 相比的重大飛躍，但這些平台也存在局限性，使其對專業交易的吸引力較低：速度慢、費用過高以及受到限制交易選項。

However, a new generation of DEXs is now taking center stage, offering traders the best of both worlds: the security and self-custody of decentralized platforms combined with sophisticated trading functionalities. These onchain futures or derivatives exchanges provide up to 100x leverage, low fees, near-instant order settlement, and a plethora of order management tools.

然而，新一代 DEX 現已佔據中心舞台，為交易者提供兩全其美的服務：去中心化平台的安全性和自我託管性與複雜的交易功能相結合。這些鏈上期貨或衍生性商品交易所提供高達 100 倍的槓桿、低廉的費用、近乎即時的訂單結算以及大量的訂單管理工具。

Defining Characteristics of Leading DEXs for Leverage Trading

定義領先 DEX 槓桿交易的特徵

Among the numerous DEXs and onchain futures or derivatives trading protocols, certain platforms stand out with their exceptional features and capabilities tailored for leverage trading. Key defining characteristics of these leading platforms include:

在眾多的 DEX 和鏈上期貨或衍生性商品交易協議中，某些平台以其專為槓桿交易量身定制的卓越特性和功能脫穎而出。這些領先平台的主要定義特徵包括：

• Liquidity: Access to deep liquidity pools ensures slippage-free trading, especially during high-volume market conditions.
• Trading Functionalities: Advanced order types, limit and stop-loss orders, and margin trading facilities enable traders to execute complex strategies.
• Fees: Low trading fees and transparent fee structures minimize transaction costs, allowing traders to maximize profits.

Introducing the Top 10 DEXs for Leverage Trading

流動性：進入深度流動性池可確保無滑點交易，尤其是在高交易量的市場條件下。策略。

1. Bitoro Network

Bitoro Network, a relative newcomer in the realm of onchain crypto trading, has emerged as a decentralized derivatives exchange with unparalleled liquidity. It aggregates liquidity from multiple established protocols such as Orderly Network and dYdX, providing traders access to highly liquid perpetual futures contracts on over 100 popular crypto pairs. Unlike centralized exchanges, Bitoro never holds users' funds, ensuring self-custody throughout. Its unique trading aggregator mechanism routes orders through the most efficient blockchain infrastructure, resulting in lightning-fast execution at minimal fees.

Bitoro NetworkBitoro Network 是鏈上加密貨幣交易領域的一個相對較新的成員，已成為具有無與倫比的流動性的去中心化衍生品交易所。它聚合了 Orderly Network 和 dYdX 等多個已建立協議的流動性，為交易者提供了 100 多個流行加密貨幣對的高流動性永續期貨合約。與中心化交易所不同，Bitoro 從不持有用戶資金，確保全程自我託管。其獨特的交易聚合器機制透過最高效的區塊鏈基礎設施路由訂單，從而以最低的費用實現閃電般的快速執行。

2. SynFutures

SynFutures V3 introduces a novel approach to decentralized derivatives trading with its innovative Oyster Automated Market Maker (AMM) technology. It provides a transparent and secure platform, enabling users to trade any asset with real-time pricing information. The Oyster AMM combines the best features of traditional order book systems and automated market makers, ensuring fair and efficient price discovery.

SynFuturesSynFutures V3 以其創新的 Oyster 自動做市商 (AMM) 技術引入了一種去中心化衍生性商品交易的新穎方法。它提供了一個透明且安全的平台，使用戶能夠利用即時定價資訊交易任何資產。 Oyster AMM 結合了傳統訂單簿系統和自動化做市商的最佳功能，確保公平且有效率的價格發現。

3. dYdX

dYdX v4 introduces the dYdX Chain, a Cosmos SDK-based blockchain network that delivers faster and more definitive trades. It offers a matching engine, a decentralized order book, and a transparent reward structure for trading and staking. Users can trade various cryptocurrencies with up to 20X leverage, benefiting from the platform's enhanced transaction speed and over 2000 transactions per second (tp/s) throughput.

dYdXdYdX v4 引入了 dYdX Chain，這是一個基於 Cosmos SDK 的區塊鏈網絡，可提供更快、更確定的交易。它提供匹配引擎、去中心化訂單簿以及透明的交易和質押獎勵結構。用戶可以以高達 20 倍的槓桿交易各種加密貨幣，受益於該平台增強的交易速度和每秒超過 2000 筆交易 (tp/s) 的吞吐量。

4. PancakeSwap V2 (BSC)

PancakeSwap (V2), operating on the Binance Smart Chain (BSC), is a DEX that enables seamless swaps of BEP-20 tokens through its automated market maker (AMM) system. It offers competitive trading fees and a perpetual futures exchange that allows leveraged trading with up to 150X leverage. Users can participate in yield farming and earn passive income through its Syrup Pools.

PancakeSwap V2 (BSC)PancakeSwap (V2) 在幣安智能鏈 (BSC) 上運行，是一種 DEX，可透過其自動做市商 (AMM) 系統實現 BEP-20 代幣的無縫交換。它提供有競爭力的交易費用和永續期貨交易所，允許高達 150 倍槓桿的槓桿交易。使用者可以參與流動性挖礦並透過其糖漿池賺取被動收入。

5. Vertex

Vertex Protocol is a versatile decentralized exchange protocol on Arbitrum that combines spot trading, perpetual swaps, and a money market. Its low-latency trading technology, efficient liquidity utilization, and on-chain automated market maker (AMM) minimize gas fees and Miner Extractable Value (MEV), ensuring users maintain control of their assets.

VertexVertex 協議是 Arbitrum 上的多功能去中心化交易協議，結合了現貨交易、永續掉期和貨幣市場。其低延遲交易技術、高效的流動性利用和鏈上自動做市商（AMM）最大限度地減少了天然氣費用和礦工可提取價值（MEV），確保用戶保持對其資產的控制。

6. Helix

Helix is a decentralized order book that facilitates limitless cross-chain trading of crypto assets. It offers advanced features such as leading rebates, decentralized stop-limit orders, and on-chain order matching. Backed by Injective Labs, Helix operates on the Injective blockchain, ensuring seamless interoperability and asset trading across various ecosystems.

HelixHelix是一種去中心化訂單簿，可促進加密資產的無限跨鏈交易。提供領先返傭、去中心化停損限價單、鏈上訂單撮合等高級功能。在 Injective Labs 的支援下，Helix 在 Injective 區塊鏈上運行，確保跨不同生態系統的無縫互通性和資產交易。

7. ApeX

ApeX is a DEX built for precision trading in decentralized derivatives markets. It offers perpetual contract markets and allows users to execute cross-margined perpetual contracts compatible with multiple blockchains. ApeX Pro supports high-leverage trading with up to 30x leverage and guarantees fast settlement.

ApeXApeX 是一款專為去中心化衍生性商品市場精準交易而打造的 DEX。它提供永續合約市場，並允許用戶執行與多個區塊鏈相容的跨保證金永續合約。 ApeX Pro支援高達30倍槓桿的高槓桿交易，並保證快速結算。

8. GMX

GMX, a well-known decentralized derivatives platform on Arbitrum, is credited with pioneering the new generation of crypto exchanges. It has facilitated close to $200 billion in trading volume and serves over 500,000 customers. GMX offers a wide range of trading pairs and generates income for liquidity providers through market making, swap fees, and leverage trading.

GMXGMX 是 Arbitrum 上著名的去中心化衍生性商品平台，被譽為新一代加密貨幣交易所的先驅。它已促成近 2000 億美元的交易量，並為超過 50 萬名客戶提供服務。 GMX 提供廣泛的交易對，並透過做市、掉期費用和槓桿交易為流動性提供者產生收入。

9. Futureswap

Leveraging an automated market maker system, Futureswap offers high-leverage trading on Ethereum, Arbitrum, and Avalanche platforms. It targets both novice and experienced traders with a user-friendly interface and simplified functionality. Futureswap has processed over $4 billion in trading volume and boasts one of the lowest fee structures in the industry.

Futureswap 利用自動化做市商系統，Futureswap 在以太坊、Arbitrum 和 Avalanche 平台上提供高槓桿交易。它面向新手和經驗豐富的交易者，具有用戶友好的介面和簡化的功能。 Futureswap 已處理超過 40 億美元的交易量，並擁有業內最低的費用結構之一。

10. Mango Markets

Mango Markets is a Solana-based platform that combines spot market, derivatives assets, and lending and borrowing services. It enables perpetual leverage trading within the Solana ecosystem, providing competitive fees and fast order execution. Mango Markets also offers a borrowing and lending protocol, allowing users to earn interest on their assets.

Mango MarketsMango Markets 是一個以 Solana 為基礎的平台，集現貨市場、衍生性商品資產以及借貸服務於一體。它支援 Solana 生態系統內的永久槓桿交易，提供有競爭力的費用和快速的訂單執行。 Mango Markets 還提供借貸協議，讓用戶透過其資產賺取利息。

Conclusion

結論

The decentralized exchanges showcased in this article exemplify the evolution and advancement of decentralized finance. They provide a decentralized alternative to conventional exchanges and equip traders with the tools and infrastructure necessary to navigate leverage trading with confidence. It is crucial for traders to conduct thorough research and due diligence before selecting and using any decentralized exchange platform. The decentralized revolution is well underway, offering traders a more secure, cost-effective, and sophisticated trading experience.

本文所展示的去中心化交易所體現了去中心化金融的演變與進步。它們提供了傳統交易所的去中心化替代方案，並為交易者提供了自信地進行槓桿交易所需的工具和基礎設施。對於交易者來說，在選擇和使用任何去中心化交易平台之前進行徹底的研究和盡職調查至關重要。去中心化革命正在順利進行，為交易者提供更安全、更具成本效益和更複雜的交易體驗。