> For the complete documentation index, see [llms.txt](https://mangomantokenfans-organization.gitbook.io/mangoman-white-paper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://mangomantokenfans-organization.gitbook.io/mangoman-white-paper/exchanges/decentralzied-exchanges.md). # Decentralzied Exchanges A decentralized exchange (DEX) is a peer-to-peer cryptocurrency exchange that operates on a decentralized system, where users retain full control of their funds and trades. DEXs offer greater security, privacy, and censorship-resistance, as they are not controlled by a central authority or single point of failure. However, they often suffer from low liquidity, slow transaction speeds, and limited trading pairs. DEXs use blockchain technology to facilitate peer-to-peer trading and can operate on a variety of platforms, including Ethereum and Binance Smart Chain. **Kyberswap** : **1inch :** **Openocean** : **Freeswapp** :