DEXTools is a data aggregator for DeFi traders that collects real-time data from various decentralized exchanges (DEX) through APIs. The dashboard displays price charts, trading volumes, and liquidity pool information to help traders make informed trades.

The platform was created in 2020 by Javier Palomino and Frederic Fernandez, both experienced traders and developers. They initially designed it to be convenient for them as traders, but as time went by, they launched it for other traders.

The crypto market comprises multiple data sources, which require traders to spend time sieving through them. The DEXTools platform solves this by collecting data from various exchanges and networks and presenting everything in one simple interface.

To do this, DEXTools combines multiple tools, such as the multi-chart interface, the pair explorer, the token creator, and more. These tools are user-focused, and the community recommends some to help traders do more on decentralized exchanges.

Most decentralized exchanges restrict users to their platform. In contrast, DEXTools connects several competing decentralized exchanges on different chains. This feature gives users more freedom while also aggregating the data across multiple DEXs on one dashboard for its users.

DEXTool covers over a hundred networks, 15,000 decentralized exchanges, 7 million liquidity pools, and about 13 million tokens—all in one spot.

Features of DEXTools and a How-to Guide For Each Feature

Dextboard

Source: DEXTools Website

The DEXTBoard is the central feature of the DEXTools. It gives users a detailed overview of the DeFi ecosystem, from the ranking table displaying various tokens, pairs, and liquidity pools to detailed information about each token, including their price movement and trading volume.

With this feature, traders get access to real-time charts and historical data, which allows them to make informed trading decisions based on current market conditions.

The display isn’t restricted to any specific network; instead, users can explore multiple trading pairs. This can be achieved by clicking the search icon and navigating to the specific network they want to check.

Also, DEXTools hosts a competition called “the token race.” Here, tokens compete for the top position, and the winner is selected based on their nitro score. The competition is focused on giving tokens visibility.

Source: DEXTools Website

That way, DEXTools can spotlight newly created tokens among its vast list of cryptocurrencies.

Pair Explorer

This monitoring tool allows users to track the performance of specific token pairs across various DEXs. Users can analyze price movement, trading volume, and liquidity.

All they have to do is watch how the price of a token pair fluctuates over time and analyze their trading volume. This data allows the trader to understand the movement of funds, knowing when to buy into a project and when to sell out of one.

Source: DEXTools Website

To do this, log into DEXTools, navigate to Pair Explorer to find the pair option menu, and then select the token. The feature uses data from the TradingView platform to show information such as the Price/MCAP ratio, the number of holders, and the volatility.

Token Creator

Source: DEXTools Website

Here, users can create their own tokens with just a click of a button. This feature removes the coding from token creation and improves the token’s security. Token creators can now leverage the security of DEXTools for their tokens, meaning fewer scams and more genuine tokens that can be easily created and audited.

Since tokens vary in complexity and utility, DEXTools allows its token creators to customize their tokens with different complexity ranges.

Source: DEXTools Website

Each token created on the platform is then listed and advertised on the DEXTBoard to help it gain traction. The creator’s social media details are also featured on the platform to assist in marketing efforts.

The platform provides the features of a token incubator for the easy launch of token projects.

Multichart

No more switching between multiple tabs while trading. Here, users can view multiple charts with just the click of a button, while the charts are all loaded on one dashboard.

Source: DEXTools Website

This feature is not limited to one blockchain network or token. Users can load the data of ten different tokens on different blockchains at once. It helps users simultaneously monitor different tokens, thereby shortening the time they spend on the chart.

Users can easily compare performance between multiple tokens, thereby gaining a holistic view of the market they are interested in.

Swapping

DEXTools has a DeFi swapping feature called DEXTswap for trading tokens across twelve major blockchain networks. Like most DeFi swap platforms, its simple design makes it easier for users to interact with a familiar interface.

Source: DEXTools Website

Added to the DEXTswap, the platform also hosts a multi-swap feature that integrates other popular DEXs like Uniswap, and PancakeSwap.

Source: DEXTools Website

Both swapping features require the user to connect their wallet, choose the blockchain and the trading pairs they are interested in, and then execute the trade. Afterward, they sign the necessary signatures and complete the transaction.

Product Line

The DEXTool product line is a collection of tools available to traders based on their interests and trades. The tool lineup includes bots, stats, simulators, APIs, and the DEXTool Academy.

Here, users can browse and interact with whatever tool is needed to make a profit.

MarketPlace

Source: DEXTools Website

This dashboard allows token creators and crypto project founders to create their tokens or update the information of an already created token. Crypto projects can also pay for advertisements.

Unlike the token race competition, where newly created tokens compete for visibility, users here buy attention for their crypto project.

Core Components of DexTools: Data Aggregation Layer and Blockchain Integration Module

Data Aggregation Layer

This layer collects and processes data from multiple DEXs across various blockchain networks. It continuously monitors blockchain transactions, liquidity pools, and trading pairs to provide up-to-date information.

This ensures that users can access the latest market data, enabling informed decision-making. It uses API integrations with popular data sources and platforms to display the data in a single dashboard.

Blockchain Integration Module

This backbone enables DEXTool to directly interact with multiple blockchain networks, enabling features like token swaps and wallet integrations.

It ensures secure and efficient communication between the DEXTools platform and blockchain protocols. By supporting multiple chains, DEXTools allows users to trade and analyze tokens across different ecosystems.

Does DexTools Have a Token?

Source: Coincarp Website

The DEXT token is the native token of the DEXTool platform, giving users full access to the platform. It has a total supply of 200 million tokens and a circulating supply of 120 million.

The platform operates on the principle of exclusivity. The design requires users to have a large number of tokens to have full access to the platform, which means the more users who have full access, the fewer tokens are available for others.

The project’s tokenomics allocates 71.6% (86 million) to circulating supply and 13.5% (16 million) to developing the project. 6.8% (8.2 million) is allocated to marketing, and the remaining 8.1% (9.7 million) is allocated to the liberated supply.

Dextools vs Dexscreener: Which is Better?

DEXTools and Dexscreener are both platforms that aim to provide analytics and trading tools for decentralized exchanges (DEXs).

On one end, DEXTools offers real-time data and analytics for a wide range of tokens and trading pairs, while Dexscreener offers real-time price charts and data for tokens traded on various DEXs. This means both platforms offer real-time data, but DEXTools focuses on broader analytics alongside data, while Dexscreener focuses primarily on price charts and data.

Secondly, DEXTools has advanced charting tools and trading features like Multiswap and Big Swap Explorer. Meanwhile, Dexscreener’s unique feature allows users to create portfolios and set up alerts to keep track of their assets.

Regarding the target audience, DEXTools targets traders and investors looking for comprehensive analytics tools to help them navigate the DeFi space. Dexscreener focuses more on cryptocurrency traders and investors more interested in managing their DeFi portfolios.

Lastly, DEXTool stands out in the marketplace for its ability to integrate community feedback into its development. Dexscreener, on the other hand, offers a user-friendly interface for tracking token prices and portfolio performance across multiple DEXs.