Metal X is a DEX on the XPR Network that uses on-chain order books to track open buy and sell orders for assets. The price spread indicates the order book depth and market price, with order details stored on-chain while user funds stay off-chain in WebAuth Wallet.
A decentralized exchange (DEX) is a P2P marketplace connecting buyers and sellers. Unlike centralized exchanges (CEXs), DEXs are non-custodial, allowing users to keep control of their private keys. Without a central authority, DEXs use smart contracts to automatically execute transactions and record them on the blockchain.
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