Decentralized Exchanges (DEXs) are starting to slowly replace Centralized Exchanges (CEXs), as Uniswap (UNI/USD) overtook Coinbase when it came to the ETH/USD trading volume. Uniswap is one of the world’s largest Decentralized Exchanges (DEXs), which is automated and allows users to swap different cryptocurrencies through peer-to-peer (P2P) market making.