# Exchange

**Runes Dex** - implements the functionality of an automated market maker (AMM). 

The Runes Dex Exchange have a several features for decentralized Runes trading:

* [What is AMM](https://docs.runesdex.com/products/exchange/what-is-an-automated-market-maker)
* [Slippage](https://docs.runesdex.com/products/what-is-an-automated-market-maker#slippage)
* [Price Impact](https://docs.runesdex.com/products/what-is-an-automated-market-maker#price-impact)
* [Impermanent Loss](https://docs.runesdex.com/products/what-is-an-automated-market-maker#impermanent-loss)
* [Liquidity Pools](https://docs.runesdex.com/products/exchange/liquidity-pools)
* [Swaps](https://docs.runesdex.com/products/exchange/swap)

Following this, we would suggest utilising the quick guide on Runes Dex.

* [How to Trade ](https://docs.runesdex.com/products/exchange/how-to-trade)

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