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Layer 2 Based

Layer 2 decentralized exchanges are built on layer 2 scaling methods, bringing much of the benefits regarding saving on on-chain transaction gas fees, settlement speed, and scalability - but also inherit the potential underlying weaknesses.

Exchanges

Pros

  • Faster order management than on-chain solutions
  • Less fees involved than on-chain solutions
  • Same scalability as centralized exchanges

Cons

  • Inherit the potential weaknesses of the underlying layer 2 solutions