# Wolf Swap (DEX)

To understand more about the **Wolf Swap**, we must elaborate as to what is a DEX (decentralized exchange). \
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**What is a DEX?** \
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A DEX is a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without the need for an intermediary to facilitate the transfer and custody of funds. This results in a fast solution to transacting without any security or time requirements. \
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DEXs are a core of decentralized finance (DeFi) and serve as a key to everything within DeFi upon which more sophisticated financial products can be built as a result of permissionless finance.

**How does a DEX Work?**

There are several DEX designs, each offering a different benefits and trade-offs in terms of feature-sets, scalability, and decentralization. The two most common types are order book DEXs and automated market makers (AMMs). DEX aggregators, which parse through multiple DEXs on-chain to find the best price or lowest gas cost for the user’s desired transaction, are also a widely used category.

DEX users are typically required to pay two types of fees—network fees and trading fees. Network fees refer to the gas cost of the on-chain transaction while trading fees are collected by the underlying protocol, its liquidity providers, token holders, or a combination of these entities as specified by the design of the protocol.

**What makes Wolf Swap so unique?** \
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**Wolf Swap** provides an easy solution to offering *trading, liquidity pairing, low gas cost for desired transactions and fast transactions*. By using Wolf Swap you dont need to have a middle man or have any other person involved in the trade other than you and the coins you are trading. This is viable for all tokens on the **Binance Smart Chain**. \
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By using **Wolf Swap** you reduce the tax in/out per transaction when trading $HOWL. This means you don't need to pay fees that other DEX's provide, this allows Wolf Swap to be used as a permanent tool via our website for less fees.