Topic: DEX : what features you want in it - page 2. (Read 493 times)
I've used a lot of DEXs like IDEX, Binance DEX, Forkdelta and all have one downside is too few trading features there. Because it is DEX, I accept the coin transfer process will be quite slow and sometimes we have to pay quite a lot of fees, but in return it must have features like Stoploss, OCO. those features are very important to people with less time like me, hopefully in the future there will be DEXs to do this.
DEX no need to add more feature .If you add more feature on that the identity will be exposed and DEX will loose its characteristics .So it think it will be easy to use nothing more need to add.
That is fine, I would also agree to a minimalist design but with features that are essential. But you have to understand that as a project becomes more and more popular, the number of people using it also increases. This leads to a bunch of users who dont follow this idea and want more and more features. That is a problem that every developer group faces at one time or another. It is like a bad effect of being popular/over-achiever - people just keep wanting for more.Few things on a DEX are always good like what I already said, direct BTC conversions which is not an easy thing for devs to put in. I also detest the anonymity of the teams running the project in case of a DEX but I guess that is a part of being a DEX or not being a CEX.
DEX no need to add more feature .If you add more feature on that the identity will be exposed and DEX will loose its characteristics .So it think it will be easy to use nothing more need to add.
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The defi exchanges are already in existence I think they are already perfect because they don't ask KYC and only protocols that work in all transactions. The only feature I guess that is needed here is to make it available for bank transactions like BTC or ETH cashout where USD will go to the bank account or going to PayPal account. If this feature will be added, there could be no users going to major CEX.
For starters they're not perfect, they still need some improvement which with time they'll improved on themselves in giving us a better decentralized experience. Before we had just IDEX like decentralized exchanges that supposenly was the best but in recent times exchanges like Uniswap are making the industry proud with the number of trading volume it's recording (most time surpassing major centralized exchanges). You suggestion can't be achieved, only centralized exchanges can do that.
For it to be done on decentralized exchange we have to used stablecoins which obviously is already been used as you can trade your UDSC with wrapped BTC on dex. The deposting or withdrawing aspect via banks has to be an agreement with the banks to start accepting decentralized dollars or what ever currencies you intend depositing which is unlikely to happen anytime soon.
I would say just have some sort of volume, that is it and nothing more. Believe me when I say this, volume is a big big big problem with DEX, they have either fake volume or no volume at all, no DEX in existence has as real volume as binance which is why they are not as big as binance neither, there is no way to trade there without hurting the economy of the coins you like.
I had to deal with couple of them because they had the coin I got paid for bounty, so I just wanted to sell and get out, and I checked the volume for other stuff (wanted to turn BTC to USDT as well) and the volume was so low that even my 120 or so dollars basically all changed a bit of the market, how the hell could 120 dollars change a market, specially as big as btc/usdt pair which should be in millions of dollars.
I had to deal with couple of them because they had the coin I got paid for bounty, so I just wanted to sell and get out, and I checked the volume for other stuff (wanted to turn BTC to USDT as well) and the volume was so low that even my 120 or so dollars basically all changed a bit of the market, how the hell could 120 dollars change a market, specially as big as btc/usdt pair which should be in millions of dollars.
Volume is already solved through the Defi today. The uniswap is actually one of the best system that had been used today and the reason why there are spikes of prices. Its not just the Uniswap that is making a good liquidity today, several DEFI today also have volume. $1M of volume is already considrable today than back 2017 and I guess this will continue to increase in the years to come.
I would say just have some sort of volume, that is it and nothing more. Believe me when I say this, volume is a big big big problem with DEX, they have either fake volume or no volume at all, no DEX in existence has as real volume as binance which is why they are not as big as binance neither, there is no way to trade there without hurting the economy of the coins you like.
I had to deal with couple of them because they had the coin I got paid for bounty, so I just wanted to sell and get out, and I checked the volume for other stuff (wanted to turn BTC to USDT as well) and the volume was so low that even my 120 or so dollars basically all changed a bit of the market, how the hell could 120 dollars change a market, specially as big as btc/usdt pair which should be in millions of dollars.
I had to deal with couple of them because they had the coin I got paid for bounty, so I just wanted to sell and get out, and I checked the volume for other stuff (wanted to turn BTC to USDT as well) and the volume was so low that even my 120 or so dollars basically all changed a bit of the market, how the hell could 120 dollars change a market, specially as big as btc/usdt pair which should be in millions of dollars.
Of course I hope DEX can provide more choices of coins for trading, then security also comes first. Because secure exchanges make it
comfortable for traders to use them. Users need fast transactions and low trading fees too, so DEX has to fulfill it. Actually there are still
many features that I would like to see on DEX, but a few things I mentioned must be fulfilled first. So that in the future DEX can be more
attractive than CEX.
comfortable for traders to use them. Users need fast transactions and low trading fees too, so DEX has to fulfill it. Actually there are still
many features that I would like to see on DEX, but a few things I mentioned must be fulfilled first. So that in the future DEX can be more
attractive than CEX.
Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.
But jossie, it is either a KYC done CEX or a would-be-scam DEX always. 
It just so happen that I remember the DEX in nature and description which turned out to be asking KYC of their users. It's been a long time since I've used that particular exchange.
I just wish that the remaining and proven DEXes won't turn out to be the same.
Already decentralized exchanges are existing here with all the feature but it can't work in the same way like binance and other centralized exchanges works because it is having centralized network so they have customer support as well so lot of people trusting them and trading using their platform but on dex it is not possible to expect the same liquidity as CEX which is the major feature missing on DEX.
The defi exchanges are already in existence I think they are already perfect because they don't ask KYC and only protocols that work in all transactions. The only feature I guess that is needed here is to make it available for bank transactions like BTC or ETH cashout where USD will go to the bank account or going to PayPal account. If this feature will be added, there could be no users going to major CEX.
Not necessarily features, because I don't think features are what so called ""DEX""s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or ""DEX""s are missing. I'm going to admit I haven't tried Binance's ""DEX"" though.
Indeed, DEX platforms nowadays already had so many features yet still encounters problem with speed and transaction failures. Meanwhile, some DEX doesn't support this wallet and doesn't support this system. And maybe, if ever that the OP and his idea on a project would happen, he might consider taking all of other DEX's shortcomings and be his project's advantage.
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.
Therefore we only want both consistency and speed with your DEX project.
all of us do always wants to have an exchange to be the best . when I say the best it means that the exchange must posses a high security , low to medium fees , good volume , great costumer support and other must have features that every traders dream and speaking of dream , it can be a dream for now because no exchange have inherit all of that and even binance that is known to be near perfect exchange still do experience an abnormalities.
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.
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've seen much exchange that has good features actually, but they failed only in terms of customer care or support.
The service must be true and transparent because there are some exchange is not giving the best satisfaction service to their clients. This is what I saw from a good platform like Binance and others.
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.
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.
DEX has good features so far. It's not governed by any third party and the only features that can be added to a DEX is more DEX features.. Probably, there might be a DEX for margin trading later
Binance provides a crypto wallet for its traders, where they can store their electronic funds.
Biggest mistake you can do in crypto. Never store your coins on a place where you do not have control over the private keys. But you will not learn the lesson until the day when the site gets hacked and your funds go into limbo.Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.
But jossie, it is either a KYC done CEX or a would-be-scam DEX always. I would rather go with the first one because at least there are less chances of fraud. Every new DEX coming up with anonymous owners only adds in risk on trading. I do not think there is yet an argument against this.
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.
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 mean Binance Centralized exchange? Most of DEX are the same but they lack something liquidity and good volume with a very low fees. Uniswap has good volume and liquidity but it has a huge fees, Binance DEX has very low fees almost nothing but the projects listed on it have few activity there is a little volume. Justin sun justswap seems interesting we all know that tron have low fees just like Binance chain but they have only few good projects listed on it Ethereum is still more popular. So, overall I want a dex with low fees, good volume and liquidity.
I'm not a usual trader and user of DEX.
But, if there's one thing that I want to be added it won't be a DEX anymore. Anyway just like the basic added features just like anyone else want. Quick in withdrawals, responsiveness of the DEX itself. Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.
Also this,
But, if there's one thing that I want to be added it won't be a DEX anymore. Anyway just like the basic added features just like anyone else want. Quick in withdrawals, responsiveness of the DEX itself. Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.
Also this,
fewer bugs
Not necessarily features, because I don't think features are what so called "DEX"s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or "DEX"s are missing. I'm going to admit I haven't tried Binance's "DEX" though.
I used binance's Dex few times for fast swaps. I can admit that it's fast and practical. I remember when i first discovered cryptobridge, a dex with great caracteristics. Used it many times without any issue. I thought it was open source and that the system is running without anybody can interfer, then suddenly the platform started asking users for kyc through different levels then restrict countries before shutting down.
Decentralised exchanges should always be better in term of privacy and security but how to garante this ?
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges.
There's a lot of features that don't have on DEX that trader's want. First, is the limited type of orders or we can say low liquidity and volume and most commonly they dont have margin trading. Next is the speed limit to execute orders, CEX might have a faster speed to fill an order than DEX, so probably this is the mean problem of DEX why trader prefers to use CEX rather than DEX. But for me, there are several factors that we can consider as a good benefit upon using DEX, and that is when it comes masking your privacy.
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges.
No specific "special and unique feature".
Just worked on being 100% DEX as what it supposed to be - fully operational, high level of security, fewer bugs, smooth interface, etc.
Think outside the box how your DEX will catch everybody's attention to use it to somehow boost trading volume.
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