AirSwap is working to create a decentralized peer-to-peer exchange for ERC-20 tokens. Instead of using a centralized order book to execute trades, AirSwap is developing an indexer that will act like a search engine to connect traders. The AirSwap Oracle gives pricing recommendations in a way that is drastically different than the market maker pricing of centralized exchanges. The exchange is fueled by the AST token, which allows anyone to become a liquidity maker.

Tokens is developing a cryptocurrency exchange for ERC20 tokens that will be powered by their native Dynamic Trading Rights token. Their exchange places a strong emphasis on community driven governance. They have developed a mechanism that allows DTR token holders to be consulted about the future direction of their trading platform and what additional token pairs will be listed.

UNUS SED LEO is an initiative started by Bitfinex that is focused on increasing the exchange's transparency. UNUS SED LEO means "one, but it's a lion" in Latin. The iniatative was created to increase the transparency of the exchange's finances, following a controversy related to the allocation of reserves from the stablecoin Tether, that was created by the same parent company as the Bitfinex exchange, iFinex. It is built around a token burning redemption mechanism which is tied to the parent company's revenues. Their dashboard provides insights into the fees that are collected, and the LEO tokens that are burned.