Which DEX has the best price?

Indexed Podcast · Mar 20, 2025 · 1h 3m

Today, we dive into a new DEX research paper 'Execution Welfare Across Solver-based DEXes'. Joined by the authors, to find out which DEX is the best—enjoy!

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Timestamps:

(00:00) Introduction

(04:53) What motivated this research?

(10:00) Measuring DEX end-user satisfaction

(12:29) Trade simulations vs historic trade data

(16:53) Research findings: welfare boxplot

(20:18) Asset-type dependence/platform comparison

(23:00) V2 liquidity attraction

(24:33) Onchain execution vs CEX

(33:10) DEX recommendations

(35:23) PEPE Ethereum onchain liquidity: long tail

(38:50) Trader profiles

(44:43) PMM/AMM…