DEXs are decentralized in two main ways. The first is through the use of an open-source, decentralized blockchain as its core settlement infrastructure. All information about transactions is available to the public here. At the same time, DEX exchanges maintain user privacy by eliminating burdensome and restrictive Know Your Customer procedures. Secondly, DEXs shift the power of decision-making from a central authority to the users. They do this by enabling users to vote on issues using a platform’s own governance token.