Educational content only — not investment advice. Independent and not affiliated with Uniswap Labs.
Plain-English DeFi guides
DEX Decoded is a free, independent blog that explains decentralized exchanges from first principles — automated market makers, liquidity pools, slippage, gas, and the risks that matter. No hype, no price talk, no trading.
An independent educational resource. Not affiliated with, endorsed by, or sponsored by Uniswap or Uniswap Labs. “Uniswap” is a trademark of its respective owner, used here only descriptively.
The clearest place to begin: what a DEX is, how it differs from a centralized exchange, and what self-custody and on-chain settlement really mean.
Read the guide →All guides
Read them in order, or jump to whatever you're curious about.
The x·y=k formula, how price comes from reserves, and why arbitrage keeps a pool in line.
What a pool is, what LP tokens represent, and why providing liquidity carries real risk.
Why your own trade moves the price, what slippage tolerance does, and how gas fees work.
Concentrated liquidity, fee tiers, the singleton design, and what hooks introduce.
The risks to understand before going near any protocol — explained honestly.
Start here: custody, accounts, on-chain settlement, and how a DEX differs from a CEX.
