decentralized exchange
When Does a DEX Stop Being Decentralized? 2026 Analysis
The Aave DAO governance crisis in March 2026 exposed a fundamental question plaguing decentralized finance: when does a "decentralized" exchange actually stop being decentralized? Despite major contributors BGD Labs departing and Aave Chan Initiative winding down operations, Aave V4 launched successfully — revealing the uncomfortable truth that many DEXs