There are many more factors to the “DEX” then just a blockchain application or a single protocol (which I think is currently a case of latest ICS proposals), those are liquidity, ease of access, security and many more, recommend checking many DEX initiatives that can be found here and see how they are approaching them. Some for example aim to allow staking ATOM’s as well as other assets in the process of interchain staking thus detaching security constraints from a single point of failure yet offering something very close to what “Cosmos DEX” could be imagined as.
Personally I do not think there will be “one” to rule them all but rather multitude taking many different approaches to security, governance, accessibility, liquidity and other factors on top of the “Standard Exchange Protocol” that zones could integrate with.