What are advantages of decentralised exchanges?

A large amount of traders are now moving away from centralised crypto exchanges, which remain vulnerable to regulators and hackers.
Decentralised exchanges (DEX) are a way of exchanging cryptocurrencies or other blockchain-based assets without a centralized agency or intermediary. Decentralised finance (DeFi) can facilitate access to banking and financial services for anyone with an Internet connection and could increase financial inclusion for billions of unbanked people and remote communities. DEXs such as Uniswap and Kyber Network are doing a roaring trade, and new ‘DEXs’ being built on Polkadot (such as Polkastarter) should be equally attractive to traders.
A rising trend in 2021 is the IDO, or Initial DEX Offering. The token is simply listed on a decentralised exchange at a certain fixed price for a limited time, with the aim of ensuring fairness for all early investors. This is a great way for new projects to be crowdfunded in a cheap and permissionless manner, but considering that anyone can launch a token on these democratic platforms, still represents a significant risk for new investors, who, in a euphoric crypto bull cycle, will likely be drawn into a glut of IDO’s that vary wildly in quality.
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