Glossary

DEX (decentralized exchange)

Also written or said as: decentralized exchange, dexes, on-chain exchange

An exchange that runs on the blockchain, where you trade straight from your own wallet.

There is no account and no ID check: you connect a wallet and swap. Raydium, Meteora and PumpSwap are DEXes on Solana. Every memecoin trades on a DEX first, and only a handful ever get listed on a big exchange.

Learn it properly inGraduation: what happens and what changesLaunchpads and the bonding curve · 4 min read

Related words

AMM (automated market maker)
CEX (centralized exchange)
Aggregator
DeFi

This guide is for learning. It is not financial advice. Most memecoins go to zero and most people who trade them lose money. Only ever trade what you can afford to lose.