These so-called decentralized platforms facilitate trading through blockchain-based algorithmic software known as smart contracts, with users retaining custody of the tokens rather than handing them over to an intermediary institution.
Crypto fans predicted a golden period for peer-to-peer trading venues like uniswap and dYdX after the FTX exchange crash last November, which undermined trust in centralized platforms taking control of tokens.
But that hasn't worked: monthly spot trading volumes on decentralized exchanges fell...
