 I could find different types of decks. Is it just a marketing word for P2P trading? Or does it really imply standards, fundamentals, or specific technology? Hermann, it's a marketing word. It doesn't actually mean anything because the word decentralized in itself isn't really a definition. It describes a spectrum. It describes a group of behaviors. How decentralized? Which part of it is decentralized? Are there parts that are not decentralized? Well, all of these questions will lead you to having certain criteria. And using those criteria, you can decide whether what you're looking at is really a dex or is it a sex? Now, this is probably the only type of sex that is bad sex. Sex-centralized exchange, C-E-X. My producer is laughing behind the camera. It's very difficult to keep a straight face when I make such silly puns at this moment. But if you want to know the difference between a centralized exchange and a decentralized exchange, you have to ask some follow-up questions. One, is it custodial or non-custodial? That's a very important criterion. I think that's the foundational criterion. Two, does it require some kind of identification? Does it follow Know Your Customer, KYC, or AML laws? If it is, it's probably backed by a company. That company is in a jurisdiction. That jurisdiction imposes regulation, and the company has no choice but to extend those regulations to its customers. By comparison, a true decentralized exchange doesn't have a company behind it, and therefore often doesn't really have any of these regulations. So does it have KYC, AML? Do you need to prove identity in order to use these decentralized exchanges? That's the second criterion. Third, does it operate across multiple cryptocurrencies and blockchains, or is it limited to one? Dependence on only one blockchain, to me, is a reduction in decentralization. So for example, if it's an Ethereum ERC-20 only exchange, that's somewhat centralized. It's centralized in the respect that it is centralized on Ethereum and doesn't support other chains. So if I see something that does Bitcoin blockchain, Monero, Ethereum, Zcash, and a whole bunch of other things, then I'm going to think of that as being slightly more decentralized than the previous one. Four, does it have a decentralized order book or does it rely on a central service for matching buyers and sellers? Five, what is the interface that you're using to access it? Is it a website? And if it is a website, that is a centralized single point of failure. Is it a website that is served off an ENS, Ethereum name service, or IPFS link, or some other distributed storage decentralized web that allows you to access it without a central point of service, if it does, or is it served through a peer-to-peer application that you install on your desktop? Again, those are good indications that it's decentralized in a way that other things perhaps are not. Those are some of the key criteria that I would consider.