According to The Block Research statistics, cryptocurrency exchanges Binance, FTX and Poloniex are more active in listing DeFi tokens. Among the first-tier exchanges, Binance has launched 9 of 13 DeFi tokens, including Maker and Compound. FTX followed closely, with 6 DeFi tokens listed, followed by Coinbase. Currently, there are four DeFi tokens listed, namely Maker, Compound, Kyber and 0x. Bitstamp and Gemini have not listed any DeFi tokens. Among the secondary exchanges, Poloniex has the most DeFi tokens listed, reaching 11 types, followed by OKEx (7 DeFi tokens listed). Although almost all DeFi tokens are listed on the third-tier exchanges, the trading volume of these exchanges is not transparent enough and liquidity is low.