Odaily News According to a report on DEX by the Bank for International Settlements (BIS), mature participants dominate the field, equivalent to professional intermediaries in TradFi. Although retail investors account for 93% of DEX liquidity providers (LPs), a small number of larger players provide 65-85% of liquidity on DEXs. The latter also dominate profits, making an average daily net return 3 basis points higher, which is equivalent to 11.65% more per year than retail LPs. The average position of retail investors is $29,000, while the average position of professionals is $3.7 million. The report also pointed out that retail investors earn fees of about 10-25% and are generally less technical. The study focuses on Uniswap V3, arguing that its launch has accelerated the transformation of traders into mature participants. At launch, mature LPs accounted for 40-50% of transactions, rising to 70-80% by the end of 2023. Mature LPs show different patterns. They target large pools with daily trading volumes of more than $10 million and have full control over these pools. Retail LPs provide liquidity for pools with daily trading volumes below $100,000. Mature LPs also target trading pairs with lower volatility, which are less risky.