DEX is usually grouped into two major categories of decentralized business models and what separates them is the actual level of decentralization:
1.Decentralized business models without or with low dependency on trusted third parties(Bitcoin is the main example of this. Bitcoin represents a digital value transfer and value store on the Internet. Another example of a token with decentralization properties is the first layer of Lkencoin. The Token is launched as a new chain based on the Bitcoins code. Ownership consensus is achieved by mining (POW) as in Bitcoin. There are no trusted third parties).
2. Decentralized business models with certain dependence on trusted third parties(This business model uses the technology While the token can be transmitted via Etherum/Bitcoin blockchain, and exchanged on stock exchanges, they are built on centrally controlled platforms and as such require trust in third parties) of Bitcoin, Ethereum and other blocked protocols.