Ethereum turns 10. A decade in, it’s easy to forget how far we've come. Especially in one category: DEXes. Let's look back at the architecture, the breakthroughs, and the gaps that remain. And why Reya is built on Ethereum.

DEXes weren’t inevitable. The first versions; EtherDelta and IDEX were slow & had inherently bad UX. But they proved a core thesis: You can trade without a trusted intermediary. That alone broke open an entire design space.

2018: Enter Uniswap. The big shift? It didn't try to replicate TradFi it rethought the mechanics entirely. → AMMs were the real innovation. → Permissionless listing → LP incentives baked in It was the first time DEXes felt usable

By 2021, Ethereum DEXes had cleared over $1T in volume. Uniswap alone processed more than Coinbase for parts of the year. But scaling issues remained: Gas volatility, latency, MEV, fragmented liquidity. Foundationally, DEXes were still constrained by general-purpose infra.

That’s been the recurring pattern: Great ideas. Capped by infra limits. Rollups helped, so did offchain order books. Still, no DEX has hit all three: → Scale and speed of TradFi → Every market & every asset → Safety & reliability of Ethereum That’s our thesis.

Reya Chain isn’t another DEX on top of the same problems. It’s a new foundation: purpose built for trading. → Based sequencing = Tradfi speed on Ethereum → Every market & asset built for traders → Modular DA + ZK = scale + integrity Learn More:

Do you believe in ETH? Throughout July 30th we're removing fees on all ETH trades on Reya. Look out for the promotional alert!