Decentralized Trading

Decentralized Trading groups non-custodial venues and protocols that execute swaps, spot markets, perpetual futures, options, prediction markets, or yield trades through blockchain-based rules. The section includes automated market makers, on-chain order books, liquidity aggregators, solver systems, and application-specific trading chains, with attention to pricing, collateral, routing, settlement, and liquidity-provider risk. Coverage should examine contract upgrades, market design, security incidents, governance, integrations, liquidations, and changes to access or incentives. Centralized exchanges, passive portfolio tools, and standalone tokens belong elsewhere unless their direct role in an on-chain trading system is the subject.