A decentralized exchange token is a digital asset that is used within a decentralized exchange platform to facilitate transactions, incentivize users, and provide various functionalities within the exchange ecosystem. These tokens are typically built on blockchain technology and can have different purposes such as governance rights, fee discounts, or rewards for users participating in the exchange. Examples of decentralized exchange tokens include Uniswap's UNI token and SushiSwap's SUSHI token.
