DEX 成为成熟交易者的强大杠杆交易解决方案

由于历史上发生过多次交易所崩溃和数十亿美元的资金损失，加密货币行业长期以来一直在寻求去中心化的解决方案。虽然 Uniswap、Sushiswap 和 1inch 等领先的去中心化交易所取得了显着进步，但它们仍然面临速度慢、费用高和现货交易受限等限制。然而，新一代去中心化交易所正在兴起，它将复杂的交易功能、高杠杆、低费用和订单管理工具与个人钱包交易的安全性结合在一起。本文研究了杠杆交易的顶级去中心化交易所，重点介绍了它们的流动性、交易能力、费用和其他关键方面。

Decentralized Exchanges Emerge as a Viable Solution for Sophisticated Trading

去中心化交易所成为复杂交易的可行解决方案

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.

受到数次历史性交易所倒闭和数十亿资金损失困扰的加密货币行业一直渴望一种去中心化的解决方案。虽然 Uniswap、Sushiswap 和 1inch 等去中心化交易所 (DEX) 的出现标志着与第一代 EtherDelta 相比的重大飞跃，但这些平台也存在局限性，使其对专业交易的吸引力较低：速度慢、费用过高以及受到限制交易选项。

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 现已占据中心舞台，为交易者提供两全其美的服务：去中心化平台的安全性和自我托管性与复杂的交易功能相结合。这些链上期货或衍生品交易所提供高达 100 倍的杠杆、低廉的费用、近乎即时的订单结算以及大量的订单管理工具。

Defining Characteristics of Leading DEXs for Leverage Trading

定义领先 DEX 杠杆交易的特征

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:

在众多的 DEX 和链上期货或衍生品交易协议中，某些平台以其专为杠杆交易量身定制的卓越特性和功能脱颖而出。这些领先平台的主要定义特征包括：

• 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

流动性：进入深度流动性池可确保无滑点交易，尤其是在高交易量的市场条件下。交易功能：高级订单类型、限价和止损订单以及保证金交易设施使交易者能够执行复杂的策略。费用：低交易费用和透明的费用结构最大限度地降低交易成本，使交易者能够实现利润最大化。介绍杠杆交易的十大 DEX

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 是链上加密货币交易领域的一个相对较新的成员，已成为具有无与伦比的流动性的去中心化衍生品交易所。它聚合了 Orderly Network 和 dYdX 等多个已建立协议的流动性，为交易者提供了 100 多个流行加密货币对的高流动性永续期货合约。与中心化交易所不同，Bitoro 从不持有用户资金，确保全程自我托管。其独特的交易聚合器机制通过最高效的区块链基础设施路由订单，从而以最低的费用实现闪电般的快速执行。

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 以其创新的 Oyster 自动做市商 (AMM) 技术引入了一种去中心化衍生品交易的新颖方法。它提供了一个透明且安全的平台，使用户能够利用实时定价信息交易任何资产。 Oyster AMM 结合了传统订单簿系统和自动化做市商的最佳功能，确保公平高效的价格发现。

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，这是一个基于 Cosmos SDK 的区块链网络，可提供更快、更确定的交易。它提供匹配引擎、去中心化订单簿以及透明的交易和质押奖励结构。用户可以以高达 20 倍的杠杆交易各种加密货币，受益于该平台增强的交易速度和每秒超过 2000 笔交易 (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) 在币安智能链 (BSC) 上运行，是一种 DEX，可通过其自动做市商 (AMM) 系统实现 BEP-20 代币的无缝交换。它提供有竞争力的交易费用和永续期货交易所，允许高达 150 倍杠杆的杠杆交易。用户可以参与流动性挖矿并通过其糖浆池赚取被动收入。

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 协议是 Arbitrum 上的多功能去中心化交易协议，结合了现货交易、永续掉期和货币市场。其低延迟交易技术、高效的流动性利用和链上自动做市商（AMM）最大限度地减少了天然气费用和矿工可提取价值（MEV），确保用户保持对其资产的控制。

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是一种去中心化订单簿，可促进加密资产的无限跨链交易。提供领先返佣、去中心化止损限价单、链上订单撮合等高级功能。在 Injective Labs 的支持下，Helix 在 Injective 区块链上运行，确保跨不同生态系统的无缝互操作性和资产交易。

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 是一款专为去中心化衍生品市场精准交易而打造的 DEX。它提供永续合约市场，并允许用户执行与多个区块链兼容的跨保证金永续合约。 ApeX Pro支持高达30倍杠杆的高杠杆交易，并保证快速结算。

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品平台，被誉为新一代加密货币交易所的先驱。它已促成近 2000 亿美元的交易量，并为超过 500,000 名客户提供服务。 GMX 提供广泛的交易对，并通过做市、掉期费用和杠杆交易为流动性提供者产生收入。

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 利用自动化做市商系统，Futureswap 在以太坊、Arbitrum 和 Avalanche 平台上提供高杠杆交易。它面向新手和经验丰富的交易者，具有用户友好的界面和简化的功能。 Futureswap 已处理超过 40 亿美元的交易量，并拥有业内最低的费用结构之一。

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 是一个基于 Solana 的平台，集现货市场、衍生品资产以及借贷服务于一体。它支持 Solana 生态系统内的永久杠杆交易，提供有竞争力的费用和快速的订单执行。 Mango Markets 还提供借贷协议，允许用户通过其资产赚取利息。

Conclusion

结论

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.

本文中展示的去中心化交易所体现了去中心化金融的演变和进步。它们提供了传统交易所的去中心化替代方案，并为交易者提供了自信地进行杠杆交易所需的工具和基础设施。对于交易者来说，在选择和使用任何去中心化交易平台之前进行彻底的研究和尽职调查至关重要。去中心化革命正在顺利进行，为交易者提供更安全、更具成本效益和更复杂的交易体验。