A market on Crescent DEX is a place where two tokens, known as a trading pair, are exchanged. The base token is the first in the pair and serves as the standard for transactions, while the quote token is the second in the pair and signifies the trade's counter value. Each trading pair on Crescent DEX comes with details regarding the fees involved in trading these tokens. This fee information is not static; it can be adjusted through governance.

Every market created on Crescent DEX is exclusive and cannot be duplicated with the same base and quote tokens. However, a new market can be established with the pair's roles reversed, meaning the base and quote tokens are switched. While these two markets perform parallel functions within the exchange, certain differences exist between them. They may showcase distinct prices, conform to varying settlement norms, and adopt unique fee structures if required.

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