Solana DEX 的表现优于传统交易所 Solana 的 DEX 具有优于传统交易所的优势，例如增强的安全性、隐私性、可访问性和资产多样性。

去中心化交易所 (DEX) 具有增强隐私、所有权和控制权以及访问多样化资产等优势。他们依靠智能合约和自我托管钱包来降低中心化交易风险，减少潜在的漏洞。然而，DEX 可能面临智能合约安全、用户复杂性和流动性问题的挑战。本文探讨了 DEX 的优缺点，比较了 Solana 的顶级平台，并深入了解了它们的主要功能、费用和支持的钱包。

Table of Contents

• Quick Navigation
• Should You Trade on a DEX?
• Advantages of Decentralized Exchanges (DEXs)
• Ownership & Enhanced Security
• Privacy
• Accessibility
• Asset Diversity
• Disadvantages of decentralized exchanges (DEX).
• Smart Contract Vulnerabilities
• Complexity
• Liquidity Issues
• Comparison of the Top Solana DEXs
• The 5 Best Solana DEXs
• Jupiter: Most Popular Solana DEX
• Raydium: Veteran Solana DEX
• Drift Protocol
• Orca
• Zeta Markets
• Is Trading on DEXs Safe?
• Frequently Asked Questions
• Which Solana DEX has the most volume?
• What is the first DEX on Solana?
• What is the best Solana DEX?
• What is the best DEX crypto?
• Best Solana DEXs – Final Thoughts

The Solana blockchain is home to hundreds of decentralized applications (dApp) that leverage the blockchain’s high throughput, scalability, and composability.

目录 快速导航 您应该在 DEX 上交易吗？去中心化交易所（DEX）的优点 所有权和增强的安全性 隐私 可访问性 资产多样性 去中心化交易所（DEX）的缺点。智能合约漏洞 复杂性 流动性问题 顶级 Solana DEX 的比较 5 个最佳 Solana DEX Jupiter：最受欢迎的 Solana DEX Raydium：老牌 Solana DEX 漂移协议 Orca Zeta 市场 在 DEX 上交易安全吗？常见问题 哪个 Solana DEX 的交易量最大？ Solana 上的第一个 DEX 是什么？最好的 Solana DEX 是什么？最好的 DEX 加密货币是什么？最佳 Solana DEX – 最后的想法 Solana 区块链是数百个去中心化应用程序 (dApp) 的所在地，这些应用程序利用了区块链的高吞吐量、可扩展性和可组合性。

There’s a reason it’s one of the largest DeFi ecosystems, with billions in total value locked.

它是最大的 DeFi 生态系统之一，锁定了数十亿美元的总价值，这是有原因的。

Decentralized exchanges (DEXs) underpin this bustling community and account for the lion’s share of the TVL on Solana. They provide users with the necessary tools to trade on-chain, swap between different tokens, offer liquidity, and much more.

去中心化交易所 (DEX) 支撑着这个繁华的社区，并占 Solana 上 TVL 的最大份额。它们为用户提供必要的工具来进行链上交易、不同代币之间的交换、提供流动性等等。

In the following, we attempt to provide comprehensive information on the best Solana DEXs, including important information about their protocols, but also:

在下文中，我们尝试提供有关最佳 Solana DEX 的全面信息，包括有关其协议的重要信息，而且：

• Key features
• Trading fees: critical detail when trading on-chain
• Supported self-custody wallets and more

Solana has several aspects that make it an ideal chain for DEXs. It has given birth to some of the best-known decentralized trading platforms, not just within its own ecosystem but within the entire industry.

主要特点交易费用：链上交易时的关键细节支持的自我托管钱包等Solana 有几个方面使其成为 DEX 的理想链。它催生了一些最著名的去中心化交易平台，不仅在其自己的生态系统内，而且在整个行业内。

Quick Navigation

• Should You Trade on a DEX?
• Advantages of Decentralized Exchanges 
• Disadvantages of Decentralized Exchanges
• Comparison of the Top Solana DEXs
• Top 5 Best Solana DEXs
  • Jupiter: Most Popular Solana DEX
  • Raydium: Veteran Solana DEX
  • Drift Protocol
  • Orca
  • Zeta Markets
• Future Outlook for Solana DEXs
• Is Trading on DEXs Safe?
• Frequently Asked Questions
• Best Solana DEXs – Final Thoughts

Should You Trade on a DEX?

Decentralized exchanges (DEXs) offer several advantages over traditional exchanges, like enhanced privacy and autonomy, as well as access to a broader range of tokens.

快速导航您应该在 DEX 上进行交易吗？去中心化交易所的优点去中心化交易所的缺点顶级 Solana DEX 的比较前 5 个最佳 Solana DEXJupiter：最受欢迎的 Solana DEXRaydium：老牌 Solana DEX 漂移协议OrcaZeta 市场 Solana DEX 的未来展望 DEX 交易安全吗？常见问题最佳 Solana DEX – 最后的想法您应该在 DEX 上进行交易吗？与传统交易所相比，去中心化交易所 (DEX) 具有多种优势，例如增强的隐私性和自治性，以及访问更广泛的代币的权限。

Unlike centralized exchanges (CEXs), DEXs are non-custodial and don’t need to individually verify tokens for compliance with regulations before listing them. This means you could find new projects on DEXs far before they are listed on a centralized exchange, offering traders opportunities for early access.

与中心化交易所（CEX）不同，DEX 是非托管的，在上市之前不需要单独验证代币是否符合法规。这意味着您可以在新项目在中心化交易所上市之前就在 DEX 上找到它们，为交易者提供早期访问的机会。

Decentralized exchanges can offer innovative trading features and incentive mechanisms not found in their centralized counterparts, such as yield farming, automated trading pools, and much more.

去中心化交易所可以提供中心化交易所所没有的创新交易功能和激励机制，例如流动性挖矿、自动交易池等等。

If you prioritize security, privacy, and control over your crypto, DEXs might be a good fit. They’re also useful for trading niche tokens unavailable on CEXs. There is, however, a learning curve to DEX trading, so make sure you’re well aware of the intricacies.

如果您优先考虑安全、隐私和对加密货币的控制，DEX 可能是一个不错的选择。它们对于交易 CEX 上不可用的利基代币也很有用。然而，DEX 交易有一个学习曲线，因此请确保您充分了解其中的复杂性。

Note: One thing to consider, though, is that you will need a self-custody wallet if you want to use a DEX. We have a comprehensive guide on the top Solana wallets that you can read and choose the one that best serves your needs.

注意：不过，需要考虑的一件事是，如果您想使用 DEX，您将需要一个自我托管钱包。我们有一份关于顶级 Solana 钱包的综合指南，您可以阅读并选择最适合您需求的一款。

Let’s have a condensed look at their advantages and disadvantages because there are some.

让我们浓缩一下它们的优点和缺点，因为确实有一些。

Advantages of Decentralized Exchanges (DEXs)

DEXs have several pros and cons to them, and it’s important for users to look at both sides of the picture to make an informed decision.

去中心化交易所 (DEX) 的优点 去中心化交易所有很多优点和缺点，用户必须从两方面考虑才能做出明智的决定。

Ownership & Enhanced Security

DEXs mitigate security risks associated with centralized exchanges by not having centralized systems privy to internal issues or external exploits. A centralized exchange holds users’ funds, making them vulnerable to certain risks, including:

所有权和增强的安全性DEX 通过不让中心化系统了解内部问题或外部漏洞来降低与中心化交易所相关的安全风险。中心化交易所持有用户的资金，使他们容易受到某些风险的影响，包括：

• Cybersecurity attacks
• Custodial risks, censorship, and account banning
• Your funds could be exposed or trapped in the platform.
• Privacy is severely compromised since exchanges store and manage your personal information.

Instead, DEXs leverage smart contracts for trade execution and recording on the blockchain, ensuring trustless transactions. Moreover, you’re solely responsible for your coins since you manage your wallet.

网络安全攻击保管风险、审查和账户禁止您的资金可能会暴露或被困在平台中。由于交易所存储和管理您的个人信息，隐私受到严重损害。相反，DEX 利用智能合约在区块链上执行和记录交易，确保交易不可信。此外，由于您管理您的钱包，因此您对您的硬币负全部责任。

Privacy

DEXs offer increased privacy since users maintain control of their crypto wallets externally. This eliminates the need for traders to disclose private keys and relieves DEXs of liability for funds.

PrivacyDEX 提供了更高的隐私性，因为用户在外部保持对其加密钱包的控制。这消除了交易者披露私钥的需要，并减轻了 DEX 的资金责任。

Furthermore, DEX users are not typically required to undergo Know Your Customer (KYC) or Anti-Money Laundering (AML) procedures, which can be convenient but may pose legal challenges in certain contexts.

此外，DEX 用户通常不需要接受了解你的客户（KYC）或反洗钱（AML）程序，这可能很方便，但在某些情况下可能会带来法律挑战。

In essence, DEXs provide the potential for heightened security through decentralization and offer greater privacy by not mandating users to disclose sensitive information such as emails, addresses, phone numbers, etc. However, this may raise regulatory concerns in certain countries with unclear crypto regulations.

从本质上讲，DEX 通过去中心化提供了增强安全性的潜力，并通过不强制用户披露电子邮件、地址、电话号码等敏感信息来提供更大的隐私。然而，这可能会在某些加密法规不明确的国家引起监管担忧。

Accessibility

DEXs offer global accessibility, allowing users worldwide to access them as long as they have an internet connection and a compatible wallet. There are usually no jurisdiction-based restrictions.

AccessibilityDEX 提供全球可访问性，只要拥有互联网连接和兼容的钱包，世界各地的用户都可以访问它们。通常没有基于司法管辖区的限制。

Asset Diversity

Likewise, DEXs boast a larger table of cryptocurrencies than their centralized counterparts. They are more open to smaller or lesser-known projects, enabling users to explore a broader range of assets.

资产多样性同样，去中心化交易所拥有比中心化交易所更大的加密货币表。他们对较小或鲜为人知的项目更加开放，使用户能够探索更广泛的资产。

Disadvantages of decentralized exchanges (DEX).

Let’s explore the cons of DEXs below, starting with smart contract security.

去中心化交易所 (DEX) 的缺点。下面让我们从智能合约安全性开始探讨 DEX 的缺点。

Smart Contract Vulnerabilities

While smart contracts create a trustless environment and eliminate third parties, they can be subject to code bugs or vulnerabilities that hackers can exploit.

智能合约漏洞虽然智能合约创建了一个无需信任的环境并消除了第三方，但它们可能会受到黑客可以利用的代码错误或漏洞的影响。

Complexity

DEXs can be challenging for beginners to navigate, with less intuitive user interfaces and a requirement for greater technical knowledge to execute trades.

ComplexityDEX 对于初学者来说可能具有挑战性，其用户界面不太直观，并且需要更多的技术知识来执行交易。

Fewer users also means there’s a smaller pool of buyers and sellers for any given token, making it harder to find a good match for your trade. While DEXs use AMMs, these ultimately can’t replicate the efficiency of matching specific buy and sell orders directly.

用户较少也意味着任何给定代币的买家和卖家数量较少，从而更难找到适合您交易的合适人选。虽然 DEX 使用 AMM，但它们最终无法复制直接匹配特定买卖订单的效率。

Liquidity Issues

DEXs may suffer from lower liquidity, particularly for less popular tokens, potentially hindering trade execution at desired prices. Lower liquidity on DEXs can lead to higher slippage, meaning you might end up paying more (or receiving less) than you anticipated.

流动性问题去中心化交易所可能会受到流动性较低的影响，特别是对于不太受欢迎的代币，这可能会阻碍以期望的价格执行交易。去中心化交易所的流动性较低可能会导致更高的滑点，这意味着您最终可能会比预期支付更多（或收到更少）。

Comparison of the Top Solana DEXs

The following is a summarized and comprehensive visual representation of their features and other characteristics.

顶级 Solana DEX 的比较以下是对其功能和其他特征的总结和全面的直观表示。

The 5 Best Solana DEXs

With all of the above out of the way, let’s explore the best Solana DEXs.

5 个最佳 Solana DEX 排除了上述所有内容，让我们来探索最好的 Solana DEX。

The protocols were chosen based on trading volume, foundations, competitive features and fees, TVL, market capitalization, and other important components.

协议的选择基于交易量、基础、竞争特征和费用、TVL、市值和其他重要组成部分。

Jupiter: Most Popular Solana DEX

Quick summary:

Jupiter：最受欢迎的 Solana DEX 快速摘要：

• The most popular DEX on Solana. It’s behind one of the largest airdrops in crypto history: the JUP token.
• Leading DEX by total value locked (TVL).
• Leading DEX by derivatives volume.

Solana 上最受欢迎的 DEX。它是加密历史上最大的空投之一：JUP 代币的幕后黑手。按锁定总价值 (TVL) 领先 DEX。按衍生品交易量领先 DEX。

Jupiter is a decentralized exchange aggregator. That means it cross-checks and gathers prices across different DEXs to provide users with the best prices in the market. Its popularity is such that a lot of Solana DEX trades go through Jupiter, highlighting the protocol’s efficiency, low swap fees, and liquidity.

Jupiter 是一个去中心化的交易聚合器。这意味着它会交叉检查并收集不同 DEX 的价格，为用户提供市场上最优惠的价格。它的受欢迎程度使得许多 Solana DEX 交易都通过 Jupiter 进行，凸显了该协议的效率、低交换费用和流动性。

Jupiter started as a liquidity provider, similar to 1inch on Ethereum. However, the business model changed last year as the protocol decided to provide derivatives trading similar to GMX and dYdX.

Jupiter 一开始是作为流动性提供者，类似于以太坊上的 1inch。然而，去年商业模式发生了变化，协议决定提供类似于 GMX 和 dYdX 的衍生品交易。

JUP is the governance token that allows users to vote in favor or against all aspects and changes taking place on Jupiter. It’s also used as a discount fee for traders. The JUP token might be remembered for its massive airdrop, in which over 40% of the 10 billion minted tokens were allocated to the community and distributed periodically.

JUP 是一种治理代币，允许用户投票赞成或反对 Jupiter 上发生的所有方面和变化。它还用作交易者的折扣费。 JUP 代币可能因其大规模空投而被人们所铭记，其中 100 亿枚代币中超过 40% 被分配给社区并定期分发。

Key Features of Jupiter

Jupiter is considered one of the best Solana DEXs, designed to facilitate token swaps with minimal slippage and affordable fees. Its user-friendly interface caters to both beginners and experienced traders, supporting over hundreds of tokens and thousands of trading pairs.

Jupiter 的主要特点Jupiter 被认为是最好的 Solana DEX 之一，旨在以最小的滑点和实惠的费用促进代币交换。其用户友好的界面适合初学者和经验丰富的交易者，支持数百种代币和数千种交易对。

Here’s a quick rundown of Jupiter’s key features:

以下是木星主要功能的快速概述：

• Limit Order: This feature enables users to place buy or sell orders at specific levels, aiding traders in avoiding slippage and securing optimal prices.
• DCA (Dollar-Cost Averaging): Permits users to purchase a fixed amount of tokens within a specified price range over a set period, offering flexibility in time intervals (minutes, hours, days, weeks, or months).
• Bridge: Facilitates bridging tokens from EVM blockchains like Ethereum, BNB Chain, Arbitrum, or non-EVM blockchains like Tron to Solana, ensuring optimal routes for low slippage and transaction fees.
• Perpetual: This feature allows users to trade futures contracts for supported tokens with a maximum leverage of up to x100. It is powered by Pyth Network, Solana’s biggest oracle network.

Moreover, the exchange also focuses on developer tools, making it easier to integrate DApps and interfaces. There are dozens of tools, documentation resources, and programs designed for developers, including:

限价订单：此功能使用户能够在特定水平下达买入或卖出订单，帮助交易者避免滑点并确保最佳价格。DCA（平均成本）：允许用户在指定价格范围内购买固定数量的代币设定的时间段，提供时间间隔（分钟、小时、天、周或月）的灵活性。 桥接：促进从 EVM 区块链（如以太坊、BNB Chain、Arbitrum）或非 EVM 区块链（如 Tron）到 Solana 的桥接代币，确保最佳低滑点和低交易费用的路线。永久：此功能允许用户以最高杠杆可达 x100 的方式交易受支持代币的期货合约。它由 Solana 最大的预言机网络 Pyth Network 提供支持。此外，该交易所还专注于开发人员工具，使集成 DApp 和接口变得更加容易。有数十种为开发人员设计的工具、文档资源和程序，包括：

• Jupiter Terminal, which allows DEXs to integrate the Jupiter UI
• A payments API, which allows users to pay for anything with any SPL token by using Jupiter and SolanaPay
• An open-source referral program to provide referral fees for projects integrating Jupiter Swap and Jupiter Limit Order

What are the Jupiter Fees?

Jupiter does not charge transaction fees, but certain fees apply to other important features within the protocol. Here’s the breakdown:

Jupiter Terminal，允许 DEX 集成 Jupiter UIA 支付 API，该 API 允许用户使用 Jupiter 和 SolanaPay 使用任何 SPL 代币支付任何费用一个开源推荐计划，为集成 Jupiter Swap 和 Jupiter Limit Order 的项目提供推荐费有哪些Jupiter 费用？Jupiter 不收取交易费用，但协议内的其他重要功能会收取一定费用。详细情况如下：

• Limit order fees: 0.2% on taker (partners integrating Jupiter Limit Order are entitled to a share of 0.1% referral fees. Jupiter collects the other 0.1% as platform fees, according to Jupiter’s documentation page).
• Jupiter DCA fee: 0.1% on order completion.

Which Wallets Does Jupiter Support?

Jupiter is compatible with most reputable wallets, including those from Solana and Ethereum. Some examples are:

限价订单费用：接受者 0.2%（集成 Jupiter 限价订单的合作伙伴有权分享 0.1% 的推荐费。根据 Jupiter 的文档页面，Jupiter 收取另外 0.1% 作为平台费用）。Jupiter DCA 费用：订单的 0.1%完成。Jupiter 支持哪些钱包？Jupiter 与大多数信誉良好的钱包兼容，包括来自 Solana 和以太坊的钱包。一些例子是：

• OKX Wallet
• Phantom
• Ethereum Wallet
• Solflare
• Coinbase Wallet
• Trust

Raydium: Veteran Solana DEX

Quick summary:

OKX 钱包Phantom以太坊钱包SolflareCoinbase 钱包TrustRaydium：老手 Solana DEX快速摘要：

• Top Solana DEX by trading volume — $109B.
• Largest DEX on Solana by TVL —$850M
• RAY market capitalization: $410M

按交易量排名的 Solana DEX — $109B。 TVL 上 Solana 上最大的 DEX —$850MRAY 市值：$410M

Raydium (RAY) is a close contender to Jupiter in terms of trading volume. Both often surpass each other in terms of daily trading volume. It’s known for its slick, user-friendly design, low fees, and support for hundreds, if not thousands, of cryptocurrencies.

Raydium (RAY) 就交易量而言是 Jupiter 的有力竞争者。两者在日交易量方面经常相互超越。它以其流畅、用户友好的设计、低廉的费用以及对数百种甚至数千种加密货币的支持而闻名。

Main Features

Raydium facilitates token swaps, liquidity provision, and yield farming for users. The protocol facilitates asset trading using an automated market maker (AMM) algorithm. It also features Acceleraytor, a launchpad that hosts initial DEX offerings (IDOs) for new Solana projects.

主要特点Raydium 为用户提供代币交换、流动性提供和流动性挖矿便利。该协议使用自动做市商（AMM）算法促进资产交易。它还具有 Acceleraytor，这是一个为新 Solana 项目托管初始 DEX 产品（IDO）的启动板。

What sets Raydium apart is its integration with OpenBook’s central limit order book. This allows users and liquidity pools on Raydium to tap into the broader liquidity and order flow of the entire OpenBook ecosystem and vice versa.

Raydium 的与众不同之处在于它与 OpenBook 的中央限价订单簿的集成。这使得 Raydium 上的用户和流动性池能够利用整个 OpenBook 生态系统更广泛的流动性和订单流，反之亦然。

Raydium also allows anyone to create a liquidity pool for a token pair, allowing for permissionless participation and enhancing liquidity within the ecosystem.

Raydium 还允许任何人为代币对创建流动性池，允许无需许可的参与并增强生态系统内的流动性。

What are Raydium Fees?

Raydium has a complex fee structure. It charges a small trading fee for each swap in a pool, which is typically 0.25% taken on the trade. The fee is then divided to reward liquidity providers, conduct RAY buybacks, and contribute to the Raydium treasury.

什么是 Raydium 费用？Raydium 的费用结构很复杂。它对池中的每个掉期收取少量交易费，通常为交易的 0.25%。然后，该费用将用于奖励流动性提供者、进行 RAY 回购以及向 Raydium 金库捐款。

Treasury fees from CLMM pool trades are automatically converted to USDC and transferred to another designated address controlled by the Squads Multi-sig, which is used to cover RPC expenses.

CLMM 矿池交易产生的财务费用会自动转换为 USDC，并转移到 Squads Multi-sig 控制的另一个指定地址，用于支付 RPC 费用。

For Concentrated Liquidity (CLMM) pools, the trading fee varies across four tiers: 100 bps, 25 bps, 5 bps, or 1 bp. Liquidity providers receive 84% of the fee, while 12% is allocated to RAY buybacks and the remaining 4% to the treasury.

对于集中流动性 (CLMM) 池，交易费用分为四个等级：100 bps、25 bps、5 bps 或 1 bps。流动性提供者收取 84% 的费用，12% 分配给 RAY 回购，其余 4% 分配给国库。

Users who want to create a standard AMM pool must pay a fee of 0.4 SOL. This is done to discourage pool spamming and support the protocol’s sustainability.

想要创建标准AMM池的用户必须支付0.4 SOL的费用。这样做是为了阻止矿池垃圾邮件并支持协议的可持续性。

What Wallets Does Raydium Support?

Raydium supports several wallets, including hardware wallets such as Ledger. Here’s a quick breakdown:

Raydium 支持哪些钱包？Raydium 支持多种钱包，包括 Ledger 等硬件钱包。这是一个快速细分：

• Solflare
• Phantom
• OKX Wallet
• Trust Wallet
• Sollet
• Exodus

Drift Protocol

Quick summary:

SolflarePhantomOKX 钱包Trust 钱包SolletExodusDrift 协议快速摘要：

• It has raised over $23 million, with lead investors including Multicoin Capital and Jump Capital.
• Focus on both spot and derivatives DEX Trading
• Cumulative volume of over $22B as of April 2024.

它已筹集了超过 2300 万美元，主要投资者包括 Multicoin Capital 和 Jump Capital。专注于现货和衍生品 DEX 交易，截至 2024 年 4 月累计交易量超过 $22B。

Drift Protocol is one of the largest Solana DEXs. It is designed as an open-source, non-custodial, and capital-efficient platform for those seeking spot and perpetuals trading.

Drift Protocol 是最大的 Solana DEX 之一。它被设计为一个开源、非托管且资本高效的平台，适合那些寻求现货和永续合约交易的人。

It offers many features: spot and perpetuals trading, lending and borrowing, and passive liquidity provision. Naturally, most of the attention gravitates towards perpetuals. Users can long or short supported assets with up to 10x leverage.

它提供许多功能：现货和永续合约交易、借贷以及被动流动性提供。当然，大部分注意力都集中在永续债券上。用户可以以高达 10 倍的杠杆做多或做空受支持的资产。

Key Features of Drift Protocol

Drift Protocol uses a cross-margined risk engine, a keeper network, and multiple liquidity mechanisms, enabling the platform to provide users with low fees, minimal slippage, and high performance.

Drift Protocol 的主要特点Drift Protocol 采用跨保证金风险引擎、keeper 网络和多种流动性机制，使平台能够为用户提供低费用、最小滑点和高性能。

Moreover, it provides features such as automatic deposit yield and leveraged staking with annual yields of up to 10% (subject to fluctuations).

此外，它还提供自动存款收益率和杠杆质押等功能，年化收益率高达10%（有波动）。

Drift v2 employs a series of complex trading and liquidity mechanisms to deliver a seamless experience for users. Some of its key components are:

Drift v2 采用一系列复杂的交易和流动性机制，为用户提供无缝的体验。它的一些关键组件是：

• Drift v2 AMM uses an external Backstop AMM Liquidity (BAL), which, in simple terms, allows users to provide backstop liquidity to specific markets, increasing the depth and collateralization within the market and earning them a rebate from taker fees.
• Drift’s decentralized orderbook (DLOB): Limit orders are executed in two ways: they either match opposing orders at the same price or trigger against the Automated Market Maker (AMM) under specific conditions.
• Keepers: They listen for, store, organize, and execute valid limit orders, compiling them into off-chain order books. Each Keeper maintains its own decentralized order book. They execute trades by matching crossing and limit orders against the AMM when certain conditions are met. They earn fees for executing trades.

What are Drift Protocol Fees?

Drift has a complex structure that uses the maker-taker fee model. Fees are calculated on a per-trade basis and the user’s position size. Review the documentation page for more information.

Drift v2 AMM 使用外部 Backstop AMM 流动性（BAL），简单来说，它允许用户向特定市场提供 Backstop 流动性，增加市场内的深度和抵押品，并为他们赚取接受者费用的回扣。Drift 的去中心化订单簿（ DLOB）：限价订单以两种方式执行：它们要么以相同的价格匹配相反的订单，要么在特定条件下触发自动做市商（AMM）。守护者：他们监听、存储、组织和执行有效的限价订单，将它们编译成链下订单簿。每个 Keeper 都维护自己的去中心化订单簿。当满足某些条件时，他们通过将交叉订单和限价订单与 AMM 进行匹配来执行交易。他们通过执行交易赚取费用。什么是 Drift 协议费用？Drift 具有使用制造商-接受者费用模型的复杂结构。费用根据每笔交易和用户的头寸规模计算。查看文档页面以获取更多信息。

What Wallet Does Drift Protocol Support?

Drift Protocol supports multiple crypto wallets, including:

Drift Protocol 支持哪些钱包？Drift Protocol 支持多种加密钱包，包括：

• Phantom
• Solflare
• Trust Wallet
• WalletConnect
• Coin98.

Orca

Quick summary:

PhantomSolflareTrust WalletWalletConnectCoin98.Orca快速摘要：

• One of Solana’s biggest DEX by TVL
• ORCA’s market capitalization surpassed $133M
• Only DEX on Solana to use a CLAMM (concentrated liquidity AMM)

Solana 最大的 DEX 之一（TVLORCA 市值超过 133 美元）仅 Solana 上的 DEX 使用 CLAMM（集中流动性 AMM）

Orca is a decentralized exchange praised for its simplicity and user-friendly interface launched in February 2021.

Orca 是一家去中心化交易所，于 2021 年 2 月推出，因其简单性和用户友好的界面而受到好评。

The DEX stands out for its deep liquidity across multiple pools. This has been known to attract a lot of traders who are looking to optimize their overall DEX trading performance.

DEX 因其跨多个池的深度流动性而脱颖而出。众所周知，这吸引了许多寻求优化整体 DEX 交易性能的交易者。

Key Features of Orca

Orca enables token swapping and provides a share of trading fees through its aquafarms. This concept of liquidity pooling for trading originated from Ethereum’s decentralized exchanges like Uniswap.

OrcaOrca 的主要功能支持代币交换，并通过其水产养殖场提供部分交易费用。这种交易流动性池的概念起源于以太坊的去中心化交易所，如Uniswap。

Despite similarities with other Solana exchanges, Orca stands out due to several distinctive features.

尽管与其他 Solana 交易所有相似之处，Orca 仍因几个独特的功能而脱颖而出。

• Orca’s interface includes a Fair Price Indicator, aligning with its trader-centric design philosophy. This tool helps traders ensure that a cryptocurrency’s price remains within 1% of CoinGecko’s aggregated exchange prices, offering a comprehensive market overview within a single interface.
• The protocol provides a convenient panel displaying user balances without requiring separate browser extensions.
• Another key feature is the Magic Bar, a user-friendly search feature enabling quick access to desired token pairs by typing their tickers.

It should be evident by now that Orca’s approach is to simplify things for traders and liquidity providers, highlighting its user-centered approach.

Orca 的界面包括公平价格指示器，符合其以交易者为中心的设计理念。该工具可帮助交易者确保加密货币的价格保持在 CoinGecko 总交易价格的 1% 以内，从而在单一界面中提供全面的市场概览。该协议提供了一个方便的面板，无需单独的浏览器扩展即可显示用户余额。另一个关键功能是 Magic Bar，一种用户友好的搜索功能，可以通过输入代码快速访问所需的代币对。 现在应该很明显，Orca 的方法是简化交易者和流动性提供者的事情，突出其以用户为中心的方法。

An interesting feature of Orca is that every trade made on the network contributes to the Orca Climate Fund, an autonomous enterprise that invests in climate-friendly technologies and innovations.

Orca 的一个有趣的特点是，网络上进行的每笔交易都会向 Orca 气候基金做出贡献，这是一家投资于气候友好型技术和创新的自主企业。

What are Orca Fees?

Fees on the Orca DEX vary, depending on the percentage each pool charges independently.

Orca 费用是多少？Orca DEX 的费用各不相同，具体取决于每个池独立收取的百分比。

Pools with a fee tier of ≥0.3%:

费用等级≥0.3%的矿池：

• 87% of the trading fee goes to the maker (Liquidity Provider)
• 12% is allocated to the DAO treasury.
• 1% is contributed to the Climate Fund.

Pools with a fee tier of <0.3%:

交易费用的 87% 归制造商（流动性提供者）12% 分配给 DAO 金库。1% 捐赠给气候基金。费用等级为

• All fees are paid to the maker (aka the liquidity provider).

Overall, this fee distribution model aims to incentivize liquidity provision while supporting the platform’s governance and contributing to environmental initiatives through the Climate Fund.

所有费用均支付给制造商（又称流动性提供者）。总体而言，这种费用分配模式旨在激励流动性提供，同时支持平台治理并通过气候基金为环保举措做出贡献。

What Wallet Does Orca Support?

Orca supports multiple wallets, including hardware wallets like Ledger. Here’s a quick rundown:

Orca 支持哪些钱包？Orca 支持多种钱包，包括 Ledger 等硬件钱包。以下是一个简短的概述：

• Trust Wallet
• OKX Wallet
• Phantom
• Solflare
• SafePal
• BitGet

Zeta Markets

Quick summary:

Trust WalletOKX WalletPhantomSolflareSafePalBitGetZeta Markets快速摘要：

• Backed by prominent VCs, including Solana Ventures
• Has raised over $23M in funding
• Near-zero gas fees and up to 20x leverage

由包括 Solana Ventures 在内的知名风险投资公司支持已筹集超过 2300 万美元的资金近乎零的汽油费和高达 20 倍的杠杆

Zeta Markets is a perpetuals exchange powered by the Solana blockchain. It was launched in 2021 and is backed by prominent venture capital (VC) investors, including Jump Capital, Wintermute, and Solana Ventures.

Zeta Markets 是一个由 Solana 区块链提供支持的永续合约交易所。它于 2021 年推出，得到了著名风险投资 (VC) 投资者的支持，包括 Jump Capital、Wintermute 和 Solana Ventures。

Key Features of Zeta Markets

Zeta Markets leverages the Solana blockchain to allow fast transactions and trade orders without compromising security. Here’s a rundown of the protocol’s main features:

Zeta Markets 的主要特点Zeta Markets 利用 Solana 区块链实现快速交易和交易订单，而不会影响安全性。以下是该协议主要功能的概述：

• Security: Users have full control over their assets with self-custody, and trading is margined in USDC, enhancing safety.
• Capital Efficiency: Traders can access up to 10x leverage through cross-margining, optimizing capital utilization.
• Decentralized Price Discovery: The exchange employs a fully on-chain limit order book (CLOB), ensuring price discovery without centralization.
• Institutional Liquidity: Zeta Markets facilitates programmatic connectivity through its SDK/CPI programs, enabling smart contract integration for Market Makers and other institutional players.
• Gamification: The platform introduces gamified elements such as leaderboards, referral programs, and trading rewards, enhancing user engagement and interaction

What are Zeta Market Fees?

Zeta Markets uses fee tiers. You can view them on the Fee Tiers documentation page. Note that fees are notably lower compared to other derivatives exchanges on Solana.

安全性：用户完全掌控自己的资产并自行托管，交易以 USDC 进行保证金，增强了安全性。 资金效率：交易者可以通过全仓保证金获得高达 10 倍的杠杆，优化资金利用率。 去中心化的价格发现：交易所采用完全链上限价订单簿 (CLOB)，确保价格发现无需中心化。机构流动性：Zeta Markets 通过其 SDK/CPI 程序促进程序化连接，为做市商和其他机构参与者实现智能合约集成。游戏化：该平台引入了游戏化元素，如排行榜、推荐计划和交易奖励，增强用户参与度和互动什么是 Zeta Market 费用？Zeta Markets 使用费用等级。您可以在费用等级文档页面上查看它们。请注意，与 Solana 上的其他衍生品交易所相比，费用明显较低。

What Wallet Does Zeta Markets Support?

Compared to other DEXs, the wallet options are somewhat limited, as the protocol only supports Solflare, WalletConnect, Backpack, OKX Wallet, and Phantom.

Zeta Markets 支持哪些钱包？与其他 DEX 相比，钱包选项有些有限，因为该协议仅支持 Solflare、WalletConnect、Backpack、OKX Wallet 和 Phantom。

Future Outlook for Solana DEXs

With the exception of Solana’s downturn in 2021 and 2022, largely induced by FTX’s downfall, the network and its token have performed very well, more or less, since their inception.

Solana DEX 的未来展望 除了 Solana 在 2021 年和 2022 年的低迷（主要是由 FTX 的垮台引起）之外，该网络及其代币自成立以来或多或少都表现得非常好。

Recall that FTX was a strong backer of Solana, holding many SOL tokens. Once the exchange defaulted following SBF’s fiasco, many SOL investors reduced or eliminated their exposure out of fear for the entire network because of FTX’s influence.

回想一下，FTX 是 Solana 的坚定支持者，持有许多 SOL 代币。一旦 SBF 惨败导致交易所违约，许多 SOL 投资者就会因为 FTX 的影响而对整个网络感到担忧，从而减少或消除了自己的风险敞口。

However, the protocol itself has since proven resilient. Solana has successfully decoupled from the impact of FTX and proved that this wouldn’t have a long-term impact on it.

然而，该协议本身已被证明具有弹性。 Solana 已成功摆脱 FTX 的影响，并证明这不会对其产生长期影响。

As a result, the network has been thriving, as it can be seen in multiple components, including but not limited to:

因此，网络一直在蓬勃发展，这可以从多个组件中看出，包括但不限于：

• SOL’s price
• Transaction count on Solana
• New addresses on Solana
• Development activity and more

A lot of it is owed to the success of the teams behind the best Solana decentralized exchanges because they underpin the entire local DeFi ecosystem.

SOL 的价格 Solana 上的交易依赖 Solana 上的新地址开发活动等很大程度上要归功于最好的 Solana 去中心化交易所背后团队的成功，因为他们支撑着整个本地 DeFi 生态系统。

If protocol developers continue to deliver and improve the capabilities of Solana, it’s perhaps justified to assume that the future for Solana DEXs is looking bright.

如果协议开发人员继续提供和改进 Solana 的功能，那么可以合理地假设 Solana DEX 的未来看起来很光明。

Is Trading on DEXs Safe?

To answer this question, we must first make a few important clarifications.

在 DEX 上交易安全吗？要回答这个问题，我们必须首先澄清一些重要的问题。

First, trading on a DEX requires more technical knowledge and preparation, compared to trading on a centralized exchange. You have to have your own self-custody wallet, which can present certain challenges on its own.

首先，与中心化交易所交易相比，在 DEX 上交易需要更多的技术知识和准备。您必须拥有自己的自我托管钱包，这本身就会带来一定的挑战。

However, if you are confident in your ability to maneuver in an on-chain environment, trading on a DEX can be safer. This is because you, as a trader, are in complete control over your funds—there is no central party that can censor your transactions, block your deposits or withdrawals, or impact your trading activities in any way.

然而，如果您对自己在链上环境中的操作能力充满信心，那么在 DEX 上进行交易可能会更安全。这是因为，作为交易者，您可以完全控制您的资金——没有任何中央机构可以审查您的交易、阻止您的存款或取款或以任何方式影响您的交易活动。

All things considered, though, the majority of users are not as technical and might encounter challenges when trading on a DEX. That’s why it’s highly recommended to make sure that you are entirely aware of their intricacies so you don’t end up paying for high slippage or worse – put your coins in jeopardy.

但总的来说，大多数用户的技术水平不高，在 DEX 上交易时可能会遇到挑战。这就是为什么强烈建议您确保完全了解它们的复杂性，这样您就不会最终为高滑点或更糟糕的情况付出代价 - 让您的代币处于危险之中。

Frequently Asked Questions

Which Solana DEX has the most volume?

Jupiter is ranked as the Solana DEX with the most daily trading volume, but the spot is highly contested by Raydium, which is typically regarded as the second-largest DEX on Solana.

常见问题哪一个 Solana DEX 的交易量最大？Jupiter 是日交易量最大的 Solana DEX，但这一位置受到 Raydium 的激烈争夺，Raydium 通常被认为是 Solana 上第二大 DEX。

What is the first DEX on Solana?

Solar Dex is the first DEX on Solana. This has become somewhat of a crypto memorabilia because Solar Dex is not amongst the top decentralized exchanges any more.

Solana 上的第一个 DEX 是什么？Solar Dex 是 Solana 上的第一个 DEX。这已经成为某种加密货币纪念品，因为 Solar Dex 不再是顶级去中心化交易所之一。

What is the best Solana DEX?

The best Solana DEX is the one that serves your particular needs. If you are looking for spot trades, perhaps Raydium is your choice. If you want more capabilities such as limit orders and DCA – maybe you should turn to Jupiter.

最好的 Solana DEX 是什么？最好的 Solana DEX 是满足您特定需求的一款。如果您正在寻找现货交易，也许 Raydium 是您的选择。如果您想要更多功能，例如限价订单和 DCA – 也许您应该转向 Jupiter。

What is the best DEX crypto?

DEX cryptocurrencies usually refer to the native coins underpinning the decentralized exchange’s ecosystem and governance

什么是最好的 DEX 加密货币？DEX 加密货币通常是指支撑去中心化交易所生态系统和治理的原生代币

Best Solana DEXs – Final Thoughts

In conclusion, the Solana ecosystem boasts several prominent DEXs, each offering unique features and advantages.

最佳 Solana DEX – 最后的想法 总之，Solana 生态系统拥有几个著名的 DEX，每个都提供独特的功能和优势。

The network continues to thrive in most measurable metrics, and DEX development has undoubtedly been a major part of it.

该网络在大多数可衡量指标上继续蓬勃发展，而 DEX 开发无疑是其中的重要组成部分。

The teams compete to bring new and exciting features for traders, such as limit orders, on-chain derivatives trading, dynamic pools, and more—all of which are bound to attract traders as the ecosystem grows in the future.

这些团队竞相为交易者带来令人兴奋的新功能，例如限价订单、链上衍生品交易、动态池等，随着生态系统未来的发展，所有这些都必将吸引交易者。

The post Top Solana Decentralized Exchanges (DEXs) to Watch in 2024 appeared first on CryptoPotato.

《2024 年最值得关注的 Solana 去中心化交易所 (DEX)》一文首先出现在 CryptoPotato 上。

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