Ren, previously known as the Republic Protocol, is a decentralized dark pool exchange protocol; designed to support large volume trades, without effecting the prices of the assets being traded. The blockchain-based, dark pool protocol has built in privacy mechanisms and is provably fair. It uses secure multi-party computation (sMPC), and a network of Darknodes, to match orders without exposing their volume or price. Their private order book will also enable cross-chain trades of tokenized assets. The Singapore based company is also developing RenX, a decentralized dark pool exchange, built with the Republic Protocol. REN is the network's utility token. It provides security to the network, and is staked to enable the operation of a Darknode in the network.

OAX is developing a decentralized exchange that will address some of the privacy and security risks of centralized exchanges. Their platform will have a shared and decentralized order book, and will include the following features: a mechanism for credit risk assessment, structured dispute resolution, and a collateralized deposit system. OAX will apply the 0x protocol to improve liquidity for assets on the platform. Orders will be broadcasted publicly, and will be viewed by all potential takers. ddecentralized exchange model