Top 3 compelling features for New Exchange?? - page 2.

tradeWind

newbie

Activity: 17

Merit: 0

Quote from: Tamilson on February 28, 2019, 01:51:03 AM

I love to see another on chain token liquidity, is this the same as bancor? Like I don't need to buy on the order book and just click the desire token, whether you buy or sell. It somehow prevent the price to dump since you can't place a buy order lower than the current price. Is that it?

Though I didn't vote the 1 second trading speed, if ever you'll do this, how can it be possible?

Thank you for asking the question, which lets me know what's on people's mind. I try to answer every question.

We reduce trading speed on our DEX by not using smart contracts to record trade settlements. Users still retain custody of their token through our secured cross-chain. I'll post more on this in a later post in this tread.

tradeWind

newbie

Activity: 17

Merit: 0

Quote from: joniboini on February 28, 2019, 12:41:08 AM

Just submitted my vote. Still doesn't understand what do you mean by 1 second trading speed though. Can you add more details or clarify about it? I initially thought it means the speed to place buy/sell order, but that seems can be done in most current dexes,

Thanks for voting, joniboini. Current DEX's have transaction speed mostly around 3 seconds, mainly because they use smart contracts to settle trades, which create a speed bottleneck. They might be able to match orders quicker, but if they use smart contracts to settle then this will slow them down. I hope that clarifies.

tradeWind

newbie

Activity: 17

Merit: 0

Quote from: LUCKMCFLY on February 27, 2019, 10:12:07 PM

I think that only with Fee cheaper, many would enter, but you forget the operative, that is, a good Exchange, you must have to open an operation, to be able to place both Stop Loss and Take Profit, obviously Margin Trade, because very few Exchanges possess those advantages that are essential for the trader.

Thank you. You're right that low fees are only meaningful if the exchange is already good. Features like margin trading is on our horizon, but for now we are launching with a solid spot trading experience.

septi.JR

sr. member

Activity: 658

Merit: 250

first certainly does not require KYC, so withdrawals or deposits can be done at that time, both trades are fast, because with fast trading we will get a historical order as desired, thirdly low trading costs, with low costs we will more efficient in every transaction that is done

Wexnident

hero member

Activity: 2576

Merit: 666

I don't take loans, ask for sig if I ever do.

Quote from: Ispep on March 03, 2019, 03:29:30 AM

I'll go with no KYC and definitely low fees.
KYC is always an issue, and most traders have one or two problems with it, it's either they're not comfortable giving away private information, or most times some exchanges have frustrating KYC procedure/process.
Low fees is the most important, high transaction fee is an issue and everyone looks out for that which is less expensive and more affordable as long as its secure as well.

Also for me, any exchange that deduct less transaction is really interesting at the same time they don't require each user to proceed with Knowing your customer policy. But let us also think that they need every transaction to be safe and so KYC must be optional and only requires if huge amount of money is being on transaction.

Reid

hero member

Activity: 2912

Merit: 642

Mostly I have seen users here creating threads about KYC problem.
I think that is because of the fact they are used to decentralized exchange which should be the case with crypto currencies since day 1.

Yes I voted for KYC's. It should not be included with a decentralized exchange. Where would be the essence of having a dex when every information about you is already leaked. This could prevent hacks and phishing.
I would also recommend a low transaction fee.
Profit will be there, for people will use it more since it is cheaper at your dex.

BitcoinTurk

hero member

Activity: 1666

Merit: 629

Quote from: tradeWind on February 27, 2019, 08:13:43 PM

Hi everyone! I'm building a new DEX to serve the trading community, and I have a bunch of features that are great but would like to know which one I should emphasize the most! Can you please let me know your thoughts, and help build a great product for everyone? Thank you. Cheesy

Each service has to recognize its own customer, and because of the regulations made in some countries, it should also be informed about the location of its users and the country in which they are citizens. But there is also a case that no one will want to give their credentials to a new market. Therefore, the fact that KYC documents are not requested in the first stage will be the right movement to win the user and the investor. On the other hand, having fast servers and being the fastest, safest and most efficient way to perform transactions will certainly be a huge advantage. The fact that all these transactions are carried out with very low commissions and that no commission fees are charged in certain processes or certain options will further advance a market that has started a new service a few steps ahead.

TobiasVR

sr. member

Activity: 626

Merit: 251

Quote from: tradeWind on February 27, 2019, 08:13:43 PM

Hi everyone! I'm building a new DEX to serve the trading community, and I have a bunch of features that are great but would like to know which one I should emphasize the most! Can you please let me know your thoughts, and help build a great product for everyone? Thank you. Cheesy

for me, the requirements without cyc are more chosen by many people. and it has become the dream of many people, I see a lot of cases of kyc that are made as one of cheating and that makes the concern of many people,

Ispep

member

Activity: 154

Merit: 24

The future of security tokens

I'll go with no KYC and definitely low fees.
KYC is always an issue, and most traders have one or two problems with it, it's either they're not comfortable giving away private information, or most times some exchanges have frustrating KYC procedure/process.
Low fees is the most important, high transaction fee is an issue and everyone looks out for that which is less expensive and more affordable as long as its secure as well.

danherbias07

legendary

Activity: 3248

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Speed, low fees and no KYC's. I think those should not be questions anymore when it comes to creating a DEX.
Specially KYC. Only private keys will be provided and we can do the trade already.
No limits too for new users. Let them have it.
Withdrawal and deposit limits should not be there. Example is binance with 2 bitcoins only if you are a new user.

If you are finished with your projects please let us know so we can provide some feedback for a better dex.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: sana54210 on March 03, 2019, 01:37:12 AM

KYC still plays a great role and should be enforce on those traders or investors that wishes to trade crypto currency in large amount but considering the fact that the author is just developing the platform with lots of competitors without KYC registration, he should exclude that part temporarily.

KYC should not have anything to do with the amount. in fact KYC is only enforced when fiat and banks are involved because that is why you need to know the identity of your customer otherwise there is no reason to ask for it. then some exchanges (since they are centralized) are being forced by the government to ask for KYC even if there is no fiat or banks involved like altcoins exchanges.

in any case if you are developing a decentralized exchange you CAN NOT have KYC involved and if you do then you are NOT developing a DECENTRALIZED exchange!

sana54210

legendary

Activity: 3276

Merit: 1128

Quote from: MakeMoneyBtc on February 27, 2019, 09:02:20 PM

First of all I would choose the option for no KYC requirement and there is not need to say any explanation about that because the answer is obvious. The second option I really like is the 1 sec trading speed. I'm personally not a trader but have used some platforms a few times and on most of them it takes a few seconds until your trade is completed. For a normal person who just wants to exchange his funds one time this is not such a big issues but for a trader who cares about each dollar the trading speed is very important. Third option would probably be low fee. As I said this is just my opinion as a user of cryptocurrencies, but I am not a daily trader so don't have much experience in order to share my opinion about what would be the best features.

Decentralized crypto currency exchange should actually not require any form of personal identification since the platform itself is all about anonymity considering the fact that they are distributed block chain equivalent of decentralized exchange but not withstanding.

KYC still plays a great role and should be enforce on those traders or investors that wishes to trade crypto currency in large amount but considering the fact that the author is just developing the platform with lots of competitors without KYC registration, he should exclude that part temporarily.

richmcrich

hero member

Activity: 1120

Merit: 507

Quote from: tradeWind on February 27, 2019, 08:13:43 PM

Hi everyone! I'm building a new DEX to serve the trading community, and I have a bunch of features that are great but would like to know which one I should emphasize the most! Can you please let me know your thoughts, and help build a great product for everyone? Thank you. Cheesy

For me I will choose the option of High speed trading which is the 1 second trading speed and if possible develop the platform to be half second trading speed, the world of high frequency trading is beginning to grow and I have seen a video of the half second trading speed and you can apply yours too.

High trading speed provided makes orders flow more smoothly by providing liquidity to the market and this will in turn make virtually all traders rich by lowering trading cost.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

there are certain things in your poll that don't make much sense. for example KYC should not even be mentioned because it is one of those factors that if it exists then it means the exchange in question is "centralized" not "decentralized". or the other thing is about fees, fees should not depend on the DEX itself, they should be determined based on the blockchains that are being used meaning only "on-chain fees" for transactions that traders do should be the only fees that are involved in the decentralized exchange, IF there is some entity (the owner) that receives additional fees from traders because of using the DEX then it is not decentralized in my opinion.

SlimShadyMmp

full member

Activity: 1470

Merit: 103

COMBO 2.0

Lower trading fees and no trading fees are mostly the things that makes an exchange really a most have and then maybe 1-secs processing and then ofcourse large volume to trade but am sure you have nothing to do with that with your features and good implementations am sure you will hit your target

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: tradeWind on February 27, 2019, 08:13:43 PM

Shared liquidity with Binance via market-maker bot

Though market-maker bots sure does help a lot in terms of liquidity, how are you going to achieve being an actual "decentralized" exchange if you're going to use one though? Or do you mean more of a non-custodial exchange like the Binance "DEX"?

Tamilson

hero member

Activity: 1022

Merit: 503

I love to see another on chain token liquidity, is this the same as bancor? Like I don't need to buy on the order book and just click the desire token, whether you buy or sell. It somehow prevent the price to dump since you can't place a buy order lower than the current price. Is that it?

Though I didn't vote the 1 second trading speed, if ever you'll do this, how can it be possible?

joniboini

legendary

Activity: 2170

Merit: 1789

Just submitted my vote. Still doesn't understand what do you mean by 1 second trading speed though. Can you add more details or clarify about it? I initially thought it means the speed to place buy/sell order, but that seems can be done in most current dexes,

LUCKMCFLY

legendary

Activity: 2548

Merit: 1873

Leading Crypto Sports Betting & Casino Platform

I think that only with Fee cheaper, many would enter, but you forget the operative, that is, a good Exchange, you must have to open an operation, to be able to place both Stop Loss and Take Profit, obviously Margin Trade, because very few Exchanges possess those advantages that are essential for the trader.

tradeWind

newbie

Activity: 17

Merit: 0

Quote from: vsi on February 27, 2019, 09:24:38 PM

Quote from: mrdeposit on February 27, 2019, 09:12:49 PM

Lowering the fees and increasing speed is a better idea than other listed options. No KYC is not even questioned for experienced traders.
Btw, what do you mean with this line: "Cross-chain trading of tokens from different chains without centralized intermediaries" Isn't this mechanism same with the atomic swap?

Atomic swap (https://en.bitcoin.it/wiki/Atomic_swap) are direct peer-2-peer which requires a series of handshake, and encryption/decryption. It wouldn't work for shared order-book.

Yes, thanks for chiming in. Would you like to share your thoughts on the poll as well? Seems like you're familiar with this space, so I would love to hear your thoughts.

Topic: Top 3 compelling features for New Exchange?? - page 2. (Read 571 times)