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It has tokens, but it also used Bitcoin, Litecoin, Monero, Zcash, and a few other blockchain ledgers on their platform, natively integrated.

You have the private keys to your wallet too which signs the tx on all those chains.

You can also integrate CryptoNote with Ethereum or Tron blockchains natively, because CryptoNote and Tron use compatible address coding derived from Bitcoin and ERC20 is largely compatible with TRC20, but that doesn't mean there is no extra fees... As long as you use more than one blockchain, there is always a fee, if the blockchain itself has a transaction or node fee. Some blockchains allocate "resources", but those are just "prepaid" fees...

So what does this teach us?

There is no decentralized exchanges... There is just exchanges that use internal or external bookkeeping... So-called decentralized exchanges are not more secure as they rely on trust that the contract operating the exchange and contracts operating the tokens are safe and bug-free.

Like I mentioned earlier centralized exchanges can have a lot lower fees due to internal off-chain bookkeeping.