Topic: DEX : what features you want in it (Read 493 times)
Also for DEX a mandatory condition, in my opinion, should be the absence of KYC and AML! A decentralizacion is built on trust and responsibility for actions, and verification is, first of all, a violation of the postulates of the crypto community!
I do not think that it is totally marketing, he doesn't have to say it as long as he spends millions of dollars on marketing he could always get people to use his dex, I believe there is a bit of truth in it. This doesn't mean he is right, he could be very well wrong too and that means he is supporting something that will not be big, maybe dex will be forgotten and everything will go back to being cex in the end, but that doesn't mean we can argue what he believes in.
He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
That is more about marketing and this is one of the reasons why I do not believe dex are truly decentralized.He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
If you have a lot of coins or just a few coins, it doesn't matter because what you need is users and if you do not have users how do you get users? You do marketing and in order to do marketing what do you need? You need money and who needs to spend that money? The team that built it, which means the team that built it still works on the project.
Even if a single line of code is added or removed from DEX that means I am no longer interested and it is not decentralized enough for me. It has to be a project that is done and sent to world and after that we just need to make sure that nobody touches it but the public that could change it whenever they want but it has to be coming from users.
I do not think that it is totally marketing, he doesn't have to say it as long as he spends millions of dollars on marketing he could always get people to use his dex, I believe there is a bit of truth in it. This doesn't mean he is right, he could be very well wrong too and that means he is supporting something that will not be big, maybe dex will be forgotten and everything will go back to being cex in the end, but that doesn't mean we can argue what he believes in.
He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
Its not really part of my vocabulary on taking such steps just because some famous or known person do make out suggestions or recommendations towards his views on a certain thing.He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
There no indeed a God on crypto world that would able to know everything on what would be the possible movements yet i do always consider in shilling it out instead.
For marketing then yes, it do really plays a great role on one success but to know that there are several factors which are mainly needed to get some recognition.
In talks about DEX, on what features we do want? current Dex already had but still liquidity or volume still cant able to reach on what CEX achieved.
For an orderbook type of DEX, I'd like to see them have the option to deposit USDT of any platform like TRC and ERC. I think more of the traders are going to be shifting to DEX and transfering stablecoins going to the DEX are some of us that thought would be difficult. DEX that is base on EOS platform should have the crosschain bad bridges for all the stablecoin and so should the TRC DEX.
That's very unexpected for a DEX, it would just mean they are only storing geodata and unlikely a DEX.
Yesterday I found the news that my favorite project Komodo will going to implement geoblocking! For me it was a shock! The real DEX should not have any restrictions!
That's very unexpected for a DEX, it would just mean they are only storing geodata and unlikely a DEX.
Yesterday I found the news that my favorite project Komodo will going to implement geoblocking! For me it was a shock! The real DEX should not have any restrictions!
But, as I said at first, that’s because they are decentralized. By being decentralized they can only offer you with basic functions and nothing more, unlike CEXs that will offer margin trading and even allow you to make a deposit of fiat. It’s all with time, things will improve.
I dont think that is possible without converting themselves to a CEX or a semi-DEX/CEX hybrid. If that is even a thing (?)The CEXs that operate have licenses. I am not sure what DEXs have in its place or have anything at all. Probably giving a middle finger show to the authorities but we also have to observe that DEXs are also getting the scorn of the authorities for such actions. Point is CEXs will survive and less likely to be running a scam in the long run. There are exceptions too but lets focus on what is important. On the other hand DEXs might very well scam its users one fine day and the authorities cant do anything about it. They are anonymous and team being unknown, very less likely that a user would be able to recover their funds lost on a DEX scam.
I do not think that it is totally marketing, he doesn't have to say it as long as he spends millions of dollars on marketing he could always get people to use his dex, I believe there is a bit of truth in it. This doesn't mean he is right, he could be very well wrong too and that means he is supporting something that will not be big, maybe dex will be forgotten and everything will go back to being cex in the end, but that doesn't mean we can argue what he believes in.
He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
He could believe in whatever he wants that will be great in the future, maybe that is dex, maybe it is cex, maybe something we do not even have right now. CZ is not god in crypto world, he is a super rich dude but he is a CEO in the end and we shouldn't take what he says as the bible and believe him right away, he could be wrong as much as you and I can be.
I understand that having a lot of coins could be great for the DEX but if you ask me that brings both a positive and a negative which I am not sure if that is a good thing. For example if you have a ton of coins, like lets say you have like 500 coins all on your dex, that is great, because there is someone who wants to trade that coin no matter how little a coin is which is why I believe adding as much as coin would be great.
However the bad part about it is the fact that when you do add that much coin and nobody shows any interest to some, you are basically creating something that is not really good in marketing, think about having a website that has basically no volume at all, why would anyone want to use that? So in the end it is both positive but also negative.
However the bad part about it is the fact that when you do add that much coin and nobody shows any interest to some, you are basically creating something that is not really good in marketing, think about having a website that has basically no volume at all, why would anyone want to use that? So in the end it is both positive but also negative.
I believe the fees are quite high at some major DEXs, so they should better focus on reducing their fees. I know that fee is probably the only thing that helps them run their website over the network but when most DEXs are based on ERC-20 based tokens, I urge them to try to bring a scalable solution first in order to let their users trade with least stress about fee. Would also love to see some more volume and liquidity over DEXs.
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
Decentralized exchanges are just lacking in a few ways, but I think that’s how it’s meant to be as long as it’s decentralized exchange that we are talking. One of the ways I would say that they are lacking nowadays is when it comes to functionalities or features that they have to offer, you will notice that DEX's are way more limited than centralized exchanges.thanks.
But, as I said at first, that’s because they are decentralized. By being decentralized they can only offer you with basic functions and nothing more, unlike CEXs that will offer margin trading and even allow you to make a deposit of fiat. It’s all with time, things will improve.
The most important function for DEX exchanges, in my opinion, is multicurrency! So that any user can easily exchange coins from different blockchains!
I will write only 1 interesting thought about decentralized exchanges.
Trading in tokens that can be blocked by the owner of a smart contract is like trading using the world's payment systems
If you make a decentralized exchange, then you need to add only 1 condition: all coins and tokens should not have locks from third parties.
Trading in tokens that can be blocked by the owner of a smart contract is like trading using the world's payment systems
If you make a decentralized exchange, then you need to add only 1 condition: all coins and tokens should not have locks from third parties.
CZ says dex is the future because he has a binance dex of his own, not because he thinks his opponents will beat him. Dude is playing both sides at the same time trying to win. His cex is already the biggest in the world and there is no question he is already doing awesome on that front, he doesn't need to do marketing for binance cex because it does its own marketing by being such a huge and common point for all traders.
However his dex may need some marketing, there are other dex which are bigger, but if he can corner the dex market like he did to cex that means he is going to be fine for a long long time. He is not playing for the next few years, he is playing for the decade and that requires him to promote dex since he has one himself as well.
However his dex may need some marketing, there are other dex which are bigger, but if he can corner the dex market like he did to cex that means he is going to be fine for a long long time. He is not playing for the next few years, he is playing for the decade and that requires him to promote dex since he has one himself as well.
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I don't see anything to improve with the current DEX, the exchange is just suppose to be simple, that's it, unfortunately CZ CEO of Binance was wrong saying DEX is the future as his own DEX does not progress based on our expectation.
Cz is one of the most hard working CEO in the industry, if he says dex are the future (although that's no news) then you better believe him. He came into the industry late but look how far he has take his business to, he's now top of the ladder and everyone in the industry wants to associate with his project.
Don't also forget he has one of the most hard working teams constantly wanting to improved on their already existing features you can see that with the development launchpad, pool, flexible and lick savings etc.
Although his dex exchange hasn't had an impact like we thought it'll, the project isn't a dead one and it's been worked on behind closed doors. With time it'll come to cement its stay in the industry just as the cex has come to stay.
Being truly a dex is really one of the biggest things I am looking into them. There is one for example that has token of its own as you might imagine and 100% of it is owned by the team, how is that decentralized? They are basically saying that they used the D in dex as a fake thing and not really caring about it, if you hold all the tokens that means you can make it do whatever you want as well.
If there is a dex that claims to be decentralized I want to see if it is actually dex or not first. That would be the biggest urgency and would be the greatest deal breaker if they are not like that at the core. However if they are truly decentralized and legit, I would have to look at the team created it and also look at volume those are very important too.
If there is a dex that claims to be decentralized I want to see if it is actually dex or not first. That would be the biggest urgency and would be the greatest deal breaker if they are not like that at the core. However if they are truly decentralized and legit, I would have to look at the team created it and also look at volume those are very important too.
I don't see anything to improve with the current DEX, the exchange is just suppose to be simple, that's it, unfortunately CZ CEO of Binance was wrong saying DEX is the future as his own DEX does not progress based on our expectation.
Hello Friends,
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
I think there is just two features that DEX miss. One is the speed of trading which is very much needed for any trader. No one would want to trade on an exchange where it would take you a minute to buy any coin. And consequently due to these reasons the second problem is the volume that these exchanges have. You will find huge slippages even on many reputed coins. This slippage makes trading unprofitable especially for small traders. But seriously it's difficult to cure these issues in DEX because you will have to compromise with the very core idea of DEX. Bitmex even though not completely considered DEx by many is actually the best DEX to trade on.If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
You don't have to have a lot of features, just look at binance.org only available for special DEX tokens in the BNB network while Uniswap is used only for the ETH network, why not create a DEX with multiple networks from BNB, ETH or some altcoins that have tokens in it such as TRX, EOS and others in 1 dex so that people only need 1 website to transact there
Thanks to all of you who responded.
I hope you'll get satisfied with all the replies above. Only I have to tell you that is that you will find DEX that meets your expectations, not all of them are worthy to trust nor many of them are worthless instead. We wanted to change their features which very unlikely to happen and I don't think it is necessary. The most important is we are seeing them being consistent in regard to market performance.
There is really no feature that could make it suddenly much better, dex is not something that lacks features that causes it to be not that much loved, at least not as much as binance, that is not the main reason. The biggest thing that causes cex to be better is volume and that has been talked a million times, but the reason why it gets so much volume is the fact that there is this company centralized on it that you can contact with.
People assume that just because we love decentralized coins we should also like decentralized exchanges as well but the logic is not even remotely the same. I like decentralized currency because it is currency and I do not want anyone to be involved, but exchange is a business and every business should have an owner that I can complain to.
People assume that just because we love decentralized coins we should also like decentralized exchanges as well but the logic is not even remotely the same. I like decentralized currency because it is currency and I do not want anyone to be involved, but exchange is a business and every business should have an owner that I can complain to.
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