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 If without the involvement of centralized authority crypto exchange functionality happens, that will happen in the place of DEX. From centralized exchanges, users place an order through an order book alternatively decentralized exchange is run behind by Liquidity pools. consider a best-decentralized crypto exchange from seeing that the platform should contain the below characteristics 
 Slippage MitigationAutomated market makerCold storage WalletFarm contractsSwap contracts 
 
 
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