Topic: Is binance dex a truly decentralized exchange? (Read 268 times)
Sincerely I don't see any feature of decentralized exchange in the binance dex. The listing procedure itself makes the exchange look like a centralized one because to my knowledge, decentralized exchanges don't charge fees to get listed on the exchange but in the case of binance dex, 2000 BNB token is their listing fee.
When I heard binance dex, my thought was that it will like exchanges such as etherdelta, forkdelta, tokenjar and Index but recently I got to know that once the binance validator approves application, the applicant still have to pay whooping $48k to list on the dex. The question here is that, is binance dex really a decentralized exchange?
Being decentralized do really need some standards and procedures, but I do not think that payment to be listed is really something that we need to consider in order to say that it is a decentralize exchange. What we need to figure out is that, if your private keys are encrypted to this exchange, in order to say that they really are a good and proven dex exchange. 
I think binance dex is a decentralized exchange like etherdelta, forkdelta, etc. Maybe the reason they give a price on their exchange is because as the development costs or their existence are already very good in the eyes of traders, bianance provides prices like the usual central exchange.
Well i can't find so much about Binance dex, i only use Binance exchange, but maybe if they ask a such fee is somehow different from another decentralized exchanges, I found only this https://www.binance.com/en/blog/304867000443084800/Binance-Launches-DEX-Testnet-for-the-New-Era-of-PeertoPeer-Cryptocurrency-Trading
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
Go through this post : https://www.cryptoglobe.com/latest/2019/04/token-listing-guidelines-for-binance-dex/
It explains more on the listing procedure.
I see they ask 1000 BNB first time and after if the coin is voted they will ask 2000 BNB and refund 1000 BNB deposited on first phase, anyway i think this is too much to get listed on Binance Dex.
2000 BNB is still much more for an open source community based projects. The listing fee should be low and they should enforce a higher transaction limit so that less transacted coins could be easily delisted to make the exchange clutter free.
I asked the same question in Binance's telegram group. The answer was, the operation carried out by Binance, while the transactions were decentralized exchange. So they mean, they are running system but it works like etherdelta.
As you know Dex Exchange like eterdelta,forkdelta and other are not popular and users not willing to trade due to low rates but binance will be good dex due to brand name and trader will trade more, really this is decentralized.
I don't think so. Maybe later it will become truly decentralized, but now it is not. By the way it is safer than other DEX . Even IDEX is semi decentralized, so don't take this definition seriously
When I heard binance dex, my thought was that it will like exchanges such as etherdelta, forkdelta, tokenjar and Index but recently I got to know that once the binance validator approves application, the applicant still have to pay whooping $48k to list on the dex. The question here is that, is binance dex really a decentralized exchange?
It is actually not supposed to cost that much to get listed on their DEX platform because I don’t see what they offer that other DEX exchanges does not, they are just selling the name they have built and not the product itself, because if it is the product, listing should cost that low, but at the same time, it is not too good for listing fee to be too cheap, as many people will take advantage of it to start registering unserious projects. Binance actually if for the big investors and developers, I guess that is the class they have just created for themselves. Since the people listing on them are not complaining, I don’t see any reason why I should take a pain reliever for their own headache.
binance becomes decentralized? come on, everyone knows he is a centralized exchange and it will remain like that. so in the end, I thought the test would fail. people will use centralized exchange more than decentralization.
It is an extension of the main binance exchange but this one will be decentralized and it's user interface will be similiar to the main one. From what I read on some articles review regarding to binance dex, some said it is not fully decentraized. But I think I need to find more information about this.
At a time were binance decentralized exchanger is under scrutiny; they get hacked
This isn’t positive, binance facing a huge test to reduce fud and panic selling
This isn’t positive, binance facing a huge test to reduce fud and panic selling
Since it is just getting started and has so many hypes
We can’t figure if it’s truly that, but with time such facts will suffice e
We can’t figure if it’s truly that, but with time such facts will suffice e
binance becomes decentralized? come on, everyone knows he is a centralized exchange and it will remain like that. so in the end, I thought the test would fail. people will use centralized exchange more than decentralization.
I think Binance is a semi-exchange that is not fully decentralized, and I use it very often today. And instead I never used Etherdelta or Forkdelta, because I wasn't comfortable with that type of exchange. Thank you so much.
If you think the others are decentralized, then yes. But I have doubts about decentralization. I think they are not exactly decentralized. Accessing the account with private key does not mean that it is decentralized exchange.
There is a difference between decentralized and distributed, though I haven't studied the binance dex so much but I don't really thing it can be fully decentralized since they have some level of control to the dex, the only way a platform would be fully decentralized is when even those who built it don't really have much benefit than others who are making use of the platform but this is unlikely for binance and not just them other companies who are in the market to make money for themselves.
A corporate thing could be a decentralized one when they will be following strict protocols for everyone on every incidents. This way, I guess binance dex may ensure a truly decentralized exchange.
A corporate thing could be a decentralized one when they will be following strict protocols for everyone on every incidents. This way, I guess binance dex may ensure a truly decentralized exchange.
Binance dex is known as a decentralized trading platform but it has a very high listing fee and requirements, if projects want to be listed on their platform. Binance dex was born and inherited the reputation of Binance, so they will require a high listing fee. In addition, they switched to BNB platform, which will continue to push BNB prices to new peaks. A very effective strategy of binance.
Just like you OP i was so surprised when i saw the long processes and huge fees. It just doesn't make any sense. Sure, it may be a DEX but the fees and processes are too much. If they needed money they should properly ask. Plus, each coin to be listed have to be voted apart from initial fees IMO that is just an advanced centralized exchange
When I heard binance dex, my thought was that it will like exchanges such as etherdelta, forkdelta, tokenjar and Index but recently I got to know that once the binance validator approves application, the applicant still have to pay whooping $48k to list on the dex. The question here is that, is binance dex really a decentralized exchange?
Binans Dex is just a parody of a decentralized exchange. Decentralization there and does not smell. This is the same centralized exchange as many others, the only difference is that trading there takes place on the basis of the BNB blockchain.
Well i can't find so much about Binance dex, i only use Binance exchange, but maybe if they ask a such fee is somehow different from another decentralized exchanges, I found only this https://www.binance.com/en/blog/304867000443084800/Binance-Launches-DEX-Testnet-for-the-New-Era-of-PeertoPeer-Cryptocurrency-Trading
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
Go through this post : https://www.cryptoglobe.com/latest/2019/04/token-listing-guidelines-for-binance-dex/
It explains more on the listing procedure.
I see they ask 1000 BNB first time and after if the coin is voted they will ask 2000 BNB and refund 1000 BNB deposited on first phase, anyway i think this is too much to get listed on Binance Dex.
Its really too much. In that article, there is a place where CZ was quoted in an AMA and he said that the listing will increase to at least $100k very soon so as to check fraud and scam projects.
Well i can't find so much about Binance dex, i only use Binance exchange, but maybe if they ask a such fee is somehow different from another decentralized exchanges, I found only this https://www.binance.com/en/blog/304867000443084800/Binance-Launches-DEX-Testnet-for-the-New-Era-of-PeertoPeer-Cryptocurrency-Trading
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
I found also the link https://www.binance.org/en/
In my opinion they ask too much fee to get listed on DEX
Go through this post : https://www.cryptoglobe.com/latest/2019/04/token-listing-guidelines-for-binance-dex/
It explains more on the listing procedure.
I see they ask 1000 BNB first time and after if the coin is voted they will ask 2000 BNB and refund 1000 BNB deposited on first phase, anyway i think this is too much to get listed on Binance Dex.
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