Quick TakeThe total trade volume on decentralized exchanges was $116.7 billion in 2020 — up from $3.0 billion in 2019 or a 3,790% increase.To start 2020, we have seen record trade volumes on DEXs. In the first week of January, trade volume has been higher than on any day before.The challenge in 2021 is to bring scalability from Layer 2 solutions to DEXs, despite the limitations they place on composability.