Algorand DEX: What It Is, How It Works, and Which Ones Still Matter
When you trade crypto on an Algorand DEX, a decentralized exchange built on the Algorand blockchain that lets users trade directly without a central authority. Also known as a non-custodial trading platform, it lets you hold your own keys while swapping tokens like ALGO, PYPL, or any asset issued on Algorand. Unlike centralized exchanges, there’s no middleman holding your money—your wallet connects directly to the protocol. That means fewer hacks, no freeze risks, and no KYC forms. But it also means you’re on your own if something goes wrong.
Algorand DEXs thrive because the blockchain itself is built for speed and low fees. Transactions settle in under a second, and costs are pennies—even during peak usage. That’s why developers built DeFi apps like Pact, a smart contract-based trading and liquidity protocol native to Algorand, and Tinyman, the most used DEX on Algorand, offering automated market making and yield farming. These aren’t just copies of Uniswap—they’re optimized for Algorand’s architecture, with features like atomic swaps and built-in governance. But not all Algorand DEXs survived. Some, like early experiments with NFT trading or illiquid pools, faded fast. Others got absorbed into bigger platforms. The ones still active today focus on real utility: low slippage, deep liquidity, and clear tokenomics.
What you’ll find in this collection aren’t hype-driven guides or vague overviews. These are real reviews of platforms that actually worked—or didn’t. You’ll read about Algorand DEX projects that shut down, wallets that got drained, and tokens that vanished overnight. You’ll also see what made Tinyman stick, how Pact handles fee structures, and why some users still avoid certain DEXs even if they’re technically live. This isn’t about chasing the next big thing. It’s about understanding what keeps a DEX alive when the noise dies down.
Whether you’re new to Algorand or you’ve been holding ALGO since 2020, the DEX landscape here is quieter than Ethereum or Solana—but that doesn’t mean it’s dead. It just means the survivors are built differently. What you’ll find below isn’t a list of top 10 DEXs. It’s a record of what actually happened. And that’s the only kind of truth that matters when your money’s on the line.
- By Eva van den Bergh
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- 30 Nov 2025
Tinyman Crypto Exchange Review: The Leading Algorand DEX for Low-Fee Trading and Liquidity
Tinyman is the leading decentralized exchange on the Algorand blockchain, offering low-cost trading, liquidity mining, and advanced DeFi features like limit orders and DCA. With v2 live, it's the most reliable way to trade ASAs without high fees.