What is Exchange type?

Exchange type says who holds the balance while you trade. A centralised exchange custodies the coins and gives you a claim on them, so your position depends on that company staying solvent and reachable. A decentralised exchange settles on chain from wallets you control, so the keys never leave and no operator can freeze the balance. 1inch and Aerodrome Finance sit in the decentralised group, while abarai, ActivTrades and Airtm are centralised.