Competitor

Comparison item	Centralized exchange	Decentralized AMM exchange	PearDAO
Asset trading pair	On-chain fungible token Limited off-chain asset subject to regulation NFT	On-chain fungible tokens	Any on-chain asset Off-chain asset NFT
Matching engine	Centralized order book matching engine	Automated Market Maker	P2P
Slippage	Slippage depending on liquidity	Slippage depending on liquidity Impermanent loss	0 slippage
Escrow	Centralized wallet escrow	-	On-chain escrow
KYC required	Yes	No	No
Governance	Centralized	Partially Centralized	DAO
Trust	KYC Centralized credit rating	-	Over-collateralization Trust Score System
Accounts	Register based, personal info required	Wallet address generated, Anonymous	Wallet address generated, Anonymous
Chat Messages	Stored in centralized server	-	End-to-end encrypted, cannot be accessed
Server	Centralized server	Centralized server	Decentralized