> For the complete documentation index, see [llms.txt](https://acet-finance.gitbook.io/act/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://acet-finance.gitbook.io/act/what-is-dexs-decentralized-exchange.md).

# What is DEXs (Decentralized Exchange) ?

Decentralized Exchanges or DEXs are decentralized trading centers that provide trading services without intermediaries, which also provide peer-to-peer cryptocurrency transaction service. Additionally, tokens can be traded or exchanged any time as long as there is demand and supply. Also, the tokens do not need to be on Centralized Exchanges (CEXs).

PancakeSwap is a platform of Decentralized Exchanges (DEXs) that runs liquidity pools by Automated Market Maker (AMM) and are regarded as the most used platform on the Binance Smart Chain (BSC) network where users can swap various cryptocurrencies.

![Example Lists of DEXs available on Binance Smart Chain (BSC) network on August 2021](/files/-MiF_Ur1vTHiF70sX3x8)

![Overview infographic of BSC Ecosystem on July 2021](/files/-MiF_iz2wUYmtGE4wxtq)