> For the complete documentation index, see [llms.txt](https://docs2.dboe.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs2.dboe.exchange/dboe/what-is-dboe.md).

# What is DBOE?

At a high level, DBOE is a Decentralized Exchange (DEX). While most DEXes operate in the spot trading market, DBOE will be operating in the derivatives market by mixing the benefits of CeFi with DeFi.