Decentralized exchanges (abbreviated DEXs) as alternative payment ecosystems with new protocols for financial transactions emerged within the framework of decentralized finance,[2] which is part of blockchain technology and FinTech.[4] Unlike centralized cryptocurrency exchanges (CEXs), such as Coinbase, Huobi or Binance, which use order books to match buyers and sellers on the open market and keep crypto assets in an exchange-based wallet, DEXs are non-custodial and leverage the functionality of self-executing smart contracts for peer-to-peer trading, while users retain control of their private keys and funds.[5]