XTZ held by Dexter contracts can be delegated to bakers. The choice of baker is controlled by the manager contract. Currently all Dexter contracts originated by camlCase and displayed on dexter.exchange are managed by a camlCase multisig contract. camlCase delegates to trusted bakers. The address of the Baker to which a particular Dexter contract has delegated its XTZ to is displayed in the web UI: https://app.dexter.exchange/liquidity/pool.
In order to ensure that liquidity providers receive their rewards even if they remove their liquidity from a Dexter contract, we delegate only to bakers that use the tzpay tool. tzpay has a special set of baker logic that allows the baker to pay rewards directly to the liquidity providers.
The rewards are not paid to the dexter contract directly. This would allow new liquidity providers to get rewards they did not earn and previous providers would miss out on rewards they earned for previous cycles.