According to @bobbyong, there are 130 DEXes deployed on BNB Chain, 94 on Base, and 78 on Arbitrum, with most showing zero or very little trading volume, indicating a long tail of inactive venues; source: @bobbyong. For traders, a high count of low-activity DEXes implies liquidity is fragmented and concentrated in a few active venues per chain, increasing slippage risk on thin pairs and execution uncertainty for long-tail tokens; source: @bobbyong. To improve execution quality under these conditions, check pool-level volumes and recent trade activity before orders and use routing across active venues to avoid dead pools and reduce price impact; source: @bobbyong.