The security models for centralized and decentralized exchanges are built on different principles. On a CEX like Binance, user assets are custodied in the platform's wallets, and its internal systems monitor for potential issues. When using a DEX like STONfi, your tokens stay in your own wallet, and you interact directly with on-chain smart contracts for each action.
[2] | Functional Scope
A CEX typically provides a broad range of services, including various activities and trading tools beyond the core exchange function. Meanwhile, the utility of DEX platforms has expanded considerably. On STONfi, for instance, users can swap tokens, supply liquidity to pools, and participate in farming programs to earn rewards.
[3] | Advanced DEX Capabilities
A notable feature on STONfi is the use of the Omniston protocol for token swaps. This system finds the best available rates across the $TON ecosystem. This shows that while a CEX may offer more diverse services, a modern DEX provides a comprehensive and capable toolkit for asset management on the blockchain.
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CEX and DEX: A Comparison
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[1] | Foundational Security Models
The security models for centralized and decentralized exchanges are built on different principles. On a CEX like Binance, user assets are custodied in the platform's wallets, and its internal systems monitor for potential issues. When using a DEX like STONfi, your tokens stay in your own wallet, and you interact directly with on-chain smart contracts for each action.
[2] | Functional Scope
A CEX typically provides a broad range of services, including various activities and trading tools beyond the core exchange function. Meanwhile, the utility of DEX platforms has expanded considerably. On STONfi, for instance, users can swap tokens, supply liquidity to pools, and participate in farming programs to earn rewards.
[3] | Advanced DEX Capabilities
A notable feature on STONfi is the use of the Omniston protocol for token swaps. This system finds the best available rates across the $TON ecosystem. This shows that while a CEX may offer more diverse services, a modern DEX provides a comprehensive and capable toolkit for asset management on the blockchain.