A decentralized exchange (or DEX) is a peer-to-peer marketplace where cryptocurrency traders can conduct direct transactions. DEXs facilitate financial transactions that aren't mediated by banks, brokers, or other third parties, which is one of crypto's most crucial aspects.
Avalanche is an open-source platform for developing decentralized applications and enterprise blockchain installations in a highly scalable, interoperable environment. Avalanche is the world's first decentralized smart contract platform with near-instant transaction finality, designed for the size of global banking. Because Solidity works out-of-the-box, Ethereum developers can easily build on Avalanche.
Here's a list of DEXes available on the Avalanche Network: https://medium.com/cryptobrosresearch/dex-ecosystem-in-avalanche-939312669c4d