Sign In
Sign Up
DeFinda Logo
Find & Compare DeFi Products
usd logo USD
Home Platforms Demex
Demex reviews
Review Score
12 Reviews
Platform Age
3 Years

Average rating of 83% based on 12 reviews.

Founded 3 years ago in 2020.

Use anonymously. No KYC required.

Decentralised exchange.

Go to Demex earnings calculator

Average rating of 83% based on 12 reviews.

Founded 3 years ago in 2020.

Use anonymously. No KYC required.

Decentralised exchange.

Go to Demex earnings calculator

Reviewed by Yunis
13 October 2022 (Updated 30 March 2023)

Demex Crypto Platform


tick $1,969,519 USD currently invested (TVL)
tick Investments in 15 coin pairs available
tick Operating on Carbon protocol


cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Demex Reviews

Demex is a decentralized cross-chain derivatives trading platform built on top of Cosmos-SDK. The protocol is developed and engineered by Switcheo Labs in 2020 for the purpose of creating a decentralized trading platform that can compete with and outclass centralized exchanges. The protocol uses the Carbon SDK for the transactions. Software Development Kit (SDK) is a pre-written software that acts as a connector tool between the apps. Using an SDK is a very convenient method to adopt a newly written app to an app that is the main source of data. SDK software is like API and it includes an API inside. But not every API is an SDK, and not every API contains SDK in it. Carbon SDK performs data transfer and recognition between the Demex protocol and Cosmos SDK. Cosmos is an open-source framework which means it is a Layer zero protocol. Ethereum, Cardano, Avalanche, and Solana are layer-1 blockchain networks. Polygon, Arbitrum, and Optimism are layer-2 blockchain networks. Layer-0 networks don’t have their own blockchain network but operate on top of a Layer-1 blockchain with pre-defined codes of rules.
While the main focus of the platform is providing a high-quality trading experience, the platform also provides earning tools for crypto holders to receive yield from their coins. There are three types of earning tools on the platform, Pools, Staking, and GLP Compounder. Users can lock their tokens to receive yields. Pools are made of cryptocurrency pairs. Unfortunately, the pools don’t have well-known first-class coins except for Ethereum, Atom, USDC, and BNB. Most pool pair tokens are Atom’s ecosystem, such as SWTH, AXL, KUJI, and OSMO. The platform is permissionless and anyone can list a token without going thru a registration process. But the protocol doesn’t support all the Ethereum and BNB tokens yet.
SWTH is the Carbon Protocol’s native and governance token. Apps using Carbon foundation need SWTH tokens to pay for the services provided. SWTH tokens are listed on a limited number of exchanges, including Uniswap. The only major exchange that has SWTH tokens listed is the exchange. Holders are rewarded with network fees and trading commissions to incentivize the holders. 
The good thing about the platform is that it is compatible with the most popular wallets. MetaMask, Keplr, Ledger, Leap, and Encrypted Key are among the options to connect to the platform. Coinbase wallet and WalletConnect are not supported. Deposits and withdrawals on the platform are instant and free of charge except for network gas fees.
The platform has a typical perpetual trading user interface with an interactive personal design mode. Users can change the outlook by selecting what windows will place on the screen. Users can also drag and move the windows and personalize the interface which is a great future. The platform is ambitious in the DEX race and has an eye for the top. Demex offers up to 150X leverage and claims to have 10x faster compared to its peer dYdX exchange. Another plus is dated orders future on the platform that many DEXs don’t offer yet.
Demex is a pretty young player on the market. There is no audit report on the official website or on the documentation. There is no hack or exploit new about the platform so far. But it is important to remember that decentralized perpetual exchanges are very new without a proven history. Demex is a promising one and seems like we will hear more about it.



Demex Supported Currencies

Demex supports over 20 currencies including Ethereum, Tether, USD Coin and Binance USD.

ADemex is incorporated in Singapore.
ALooking at reviews from across the web, Demex has an average review score of 83% based on 12 reviews.

Demex Key Data

Legal name switcheo labs
Year founded 2,020
Country incorporated in Singapore
Decentralised tick Yes
Non-custodial tick Yes
Savings accounts tick Yes
Crypto to crypto exchange tick Yes
Margin trading tick Yes
Crypto withdrawals to private wallet tick Yes
Fast account verification tick Yes
Futures exchange tick Yes
Chain agnostic cross No
Know your customer cross No
Credit check cross No
24/7 support cross No
Phone support cross No

Useful Links

Demex Contact Details

Platform Comparisons

Why Compare With Definda?

tick Completely Impartial

We always rank and compare products objectively and impartially.

tick Careful Research

We carefully research products for legitimacy before adding them to the platform.

tick We Never Sell Your Data

We never sell or disclose your data to anyone.

© DeFinda 2023