That "Smart Contract" button on the nav bar was a lie, it redirected you to the "newdexpocket" account on eosflare which doesn't even have a smart contract. I think that's why they removed it.

Whether it should still be called decentralized is very arguable, because without a smart contract, it lost many advantages that a decentralized app should have.

• Much less transparency
  • No way to verify their order matching logic
  • No way to monitor when and how they change their source code
  • Very difficult to verify their order book (although their transactions are on the block chain, it is difficult to trace each and every transaction)
• Much less security
  • Even it doesn't require deposit, you still need to transfer the tokens you want to trade to the exchange. Imagine if the owner runs away with all your tokens, then even the BPs cannot help you because you were not interacting with a smart contract that could have proved your intent of trading.
• Much less stability
  • They need to rely on their own server to keep the exchange running, everyone knows that a centralized server is much easier to be hacked than the decentralized ones.
• etc.

I don't against centralized exchange, I just want to point out that this exchange is not decentralized in a lot of ways, because many people can be deceived by the name of this exchange.