External factors that affect the adoption of decentralized exchanges (DEX) for cryptocurrencies: the case of Curve DEX
External factors that affect the adoption of decentralized exchanges (DEX) for cryptocurrencies: the case of Curve DEX
Decentralized finance (DeFi) is becoming more and more popular. Decentralized exchanges (DEX) are a type of DeFi that allows users to trade freely and anonymously on a blockchain. This study focuses on how external factors affect the adoption of DEXs and provides suggestions for the development of the entire DEX industry. The study finds that the expansion of the DeFi industry has a significant impact on the adoption of DEXs, so DEXs should cooperate to develop the industry instead of focusing on competing for a larger share of the existing market. Some other external factors also have an impact, such as technological innovation, partner integration and community support. As DeFi is closely related to the adoption of DEX, the study also discusses the external factors that may affect the adoption of DeFi, namely trust, infrastructure and regulation.
DEX, Decentralised Exchange, Decentralized Exchange, Decentralized exchanges: Centralized exchanges, cryptocurrency, Cryptoasset, bitcoin, ethereum
211-235
Yao, Yuan
04d74e15-8140-4330-9bf0-6a5602f653d2
Zarifis, Alex
7622e840-ba78-4a4f-879b-6ba0f62363cc
1 June 2025
Yao, Yuan
04d74e15-8140-4330-9bf0-6a5602f653d2
Zarifis, Alex
7622e840-ba78-4a4f-879b-6ba0f62363cc
Yao, Yuan and Zarifis, Alex
(2025)
External factors that affect the adoption of decentralized exchanges (DEX) for cryptocurrencies: the case of Curve DEX.
In,
Zarifis, Alex and Cheng, Xusen
(eds.)
Fintech and the Emerging Ecosystems: Exploring Centralised and Decentralised Financial Technologies.
(Financial Innovation and Technology)
1 ed.
Springer Cham, .
(doi:10.1007/978-3-031-83402-8_7).
Record type:
Book Section
Abstract
Decentralized finance (DeFi) is becoming more and more popular. Decentralized exchanges (DEX) are a type of DeFi that allows users to trade freely and anonymously on a blockchain. This study focuses on how external factors affect the adoption of DEXs and provides suggestions for the development of the entire DEX industry. The study finds that the expansion of the DeFi industry has a significant impact on the adoption of DEXs, so DEXs should cooperate to develop the industry instead of focusing on competing for a larger share of the existing market. Some other external factors also have an impact, such as technological innovation, partner integration and community support. As DeFi is closely related to the adoption of DEX, the study also discusses the external factors that may affect the adoption of DeFi, namely trust, infrastructure and regulation.
Text
DEX AC Alex Zarifis
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Published date: 1 June 2025
Keywords:
DEX, Decentralised Exchange, Decentralized Exchange, Decentralized exchanges: Centralized exchanges, cryptocurrency, Cryptoasset, bitcoin, ethereum
Identifiers
Local EPrints ID: 503107
URI: http://eprints.soton.ac.uk/id/eprint/503107
ISSN: 2730-9681
PURE UUID: 75d4b5d8-4f90-4407-8f8e-f10ae1cd389d
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Date deposited: 21 Jul 2025 17:00
Last modified: 22 Jul 2025 02:19
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Contributors
Author:
Yuan Yao
Author:
Alex Zarifis
Editor:
Alex Zarifis
Editor:
Xusen Cheng
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