DEX

  • Spectrum

    Combining both CLMM and order book styles into a DEX that operates across both the Ergo and Cardano blockchains.

    Spectrum, Cardano DeFi.
    Spectrum
  • CSWAP DEX

    A progressive DEX for the Cardano Ecosystem, merging next-generation DEX capabilities with NFTfi.

    CSWAP DEX, Cardano DeFi.
    CSWAP DEX
  • Symbiosis

    A Cross-Chain Engine and Liquidity Protocol linked to Milkomeda C1.

    Symbiosis, Cardano DeFi.
    Symbiosis
  • SweetDAO

    A community owned decentralized exchange supported by protocol owned liquidity.

    SweetDAO, Cardano DeFi.
    SweetDAO
  • Axo

    A financial protocol that allows for programable swaps and aims to add synthetics and many more functionalities as development continues.

    Axo, Cardano DeFi.
    Axo
  • BynetDEX

    An order book style DEX allowing users to create Liquidity Orders to mine commission for facilitating swaps.

    BynetDEX, Cardano DeFi.
    BynetDEX
  • Cardance Swap

    Swap, earn, stack yields, lend, borrow, leverage all on one decentralized, community driven platform.

    Cardance Swap, Cardano DeFi.
    Cardance Swap
  • OccamX

    An Automated Market Maker, AMM, DEX running on the Milkomeda sidechain.

    OccamX, Cardano DeFi.
    OccamX
  • MilkySwap

    A DEX on the EVM compatible Milkomeda sidechain. Enabling users to trade their ADA for tokens from the Ethereum blockchain.

    MilkySwap, Cardano DeFi.
    MilkySwap
  • Matrix Labs

    A leverage trading DEX supported by perpetual contracts in a virtual-AMM protocol. Matrix Labs is currently on 7 blockchain, launching Cardano support in 2022.

    Matrix Labs, Cardano DeFi.
    Matrix Labs
  • Bashoswap

    Multi Protocol Decentralised Exchange on Cardano.

    Bashoswap, Cardano DeFi.
    Bashoswap
  • DOEX

    AMM-based decentralized exchange for assets that are native to the Cardano Blockchain.

    DOEX, Cardano DeFi.
    DOEX
  • WingRiders

    An AMM based DEX on Cardano.

    WingRiders, Cardano DeFi.
    WingRiders
  • MetaDEX

    A Pareto-optimal DEX utilizing multiple unique pool concepts, with optimal trade pool distribution, and optional impermanent loss insurance. (Formerly MIRQUR).

    MetaDEX, Cardano DeFi.
    MetaDEX
  • MuesliSwap

    A decentralized order book style DEX supporting limit orders, swaps, and token staking. MuseliSwap is live on Cardano and the Milkomeda C1 sidechain.

    MuesliSwap, Cardano DeFi.
    MuesliSwap
  • AdaSwap

    A AMM based DEX also featuring a launchpad, an NFT marketplace, and “stake and forget” liquidity pools featuring unique rewards.

    AdaSwap, Cardano DeFi.
    AdaSwap
  • Scam

    Right here, amongst real projects, lies this Cardano scam. It looks just like the others; it might be one of them. How do you know this isn’t a real project?

    Scam, Cardano DeFi.
    Scam
  • DeFIRE

    A DEX aggregator that accepts limit and market orders, routing those orders through multiple DEXs to optimize every aspect of a trade.

    DeFIRE, Cardano DeFi.
    DeFIRE
  • Genius Yield

    A non-custodial, CLMM DEX and smart liquidity manager that can optimize yields across multiple exchanges.

    Genius Yield, Cardano DeFi.
    Genius Yield
  • SundaeSwap

    Decentralized exchange and automated liquidity provision protocol built on the Cardano blockchain.

    SundaeSwap, Cardano DeFi.
    SundaeSwap
  • Minswap

    An AMM DEX featuring multiple, algorithmically different, liquidity pools for the same token pairs.

    Minswap, Cardano DeFi.
    Minswap
  • ADAX

    An AMM based DEX, featuring an ERC20 converter, where all swap fees are split between the taker and the maker of the trade. Also featuring a CEX.

    ADAX, Cardano DeFi.
    ADAX
  • Cardax

    An Automated Market Maker, AMM, style DEX on the EVM-based sidechain Milkomeda.

    Cardax, Cardano DeFi.
    Cardax
  • Ray Network

    Developers of an open sourced DeFi ecosystem, tools for developers, and user tools on the Cardano blockchain.

    Ray Network, Cardano DeFi.
    Ray Network
  • Byron Network

    An ecosystem of of DeFi dApps and user tools built on Cardano, being designed for multichain operation.

    Byron Network, Cardano DeFi.
    Byron Network
  • Occam.fi

    A suite of DeFi protocols featuring a sidechain DEX, an Ethereum based Launchpad, and an accelerator.

    Occam.fi, Cardano DeFi.
    Occam.fi
  • Cardashift

    A community-run launchpad that raises funds, builds and accelerates startups that are solving social and environmental issues.

    Cardashift, Cardano DeFi.
    Cardashift
  • NuFi

    A non-custodial, crypto wealth management platform for PoS blockchains and digital assets.

    NuFi, Cardano Wallets.
    NuFi
  • Astarter

    A launchpad and accelerator for projects building on Cardano, also featuring a DEX, a decentralized lending and borrowing, and a technical support platform.

    Astarter, Cardano DeFi.
    Astarter
  • VyFi (Vy Finance)

    Multiple investment avenues in one platform. Offering an investment managing AI “neural net” for beginners, and total investment control for advanced users.

    VyFi (Vy Finance), Cardano DeFi.
    VyFi (Vy Finance)

Here is a Cardano DEX list for you to explore all the decentralized exchanges built on Cardano. There are multiple Cardano DEX projects for you to choose from, each with a different take on the DEX concept and the way of managing a decentralized exchange protocol.

Listed here are Cardano DEX projects that are based on both the automated market maker (AMM) and the traditional order book style of exchange. Both types of DEX on Cardano, like any other exchange, require a good amount of liquidity to operate effectively. This leads many to say that the best Cardano DEX is the one with the most liquidity. However, there are many other factors that the users of these DEXes would tell you to take into account before deciding which is the best Cardano DEX, and which one you should interact with (although a high amount of liquidity is a good indicator for users).

Interestingly, many Cardano exchanges, such as Sundaeswap, use the concept of “batchers” to collect, order, and execute transactions. This reliance on a small group of batchers to order and execute user transactions reduces the decentralized nature these exchanges as these entities could easily collude to front run transactions from particular wallets or to censor transactions from other wallets.

Frequently Asked Questions

Does Cardano have a DEX?

Yes! Cardano has multiple DEXes live on mainnet and there are many currently under development by many members of the community. On top of DEXes. These Cardano decentralized exchanges come in both order book and automated market maker (AMM) formats.

How many DEX are on Cardano?

There are over 20 DEXes building on the Cardano blockchain. Currently there are 4 DEXes live on the Cardano mainnet: Minswap, Wingriders, Sundaeswap, and Muesliswap; along with multiple others operating on the EVM-based Cardano sidechain Milkomeda.

What was the first DEX on Cardano?

Whilst many think the first DEX on Cardano was Sundaeswap, as its launch was the most highly hyped, Muesliswap DEX actually came out of left field and pipped them to the post with their order book style DEX. Therefore, Muesliswap was the first working DEX to be built on Cardano.